Fin533 Individual Assignment

FIN533 : PERSONAL FINANCIAL PLANNING
FAMILY'S FINANCIAL PLANNING
NAME : MUHAMMAD FAHMI BIN MOHD ROZI

ID NUMBER : 2022917177
CLASS : BA2423A
PREPARED FOR : DR. SITI AMINAH BINTI MAINAL
1.0 FAMILY BACKGROUND
Rozi's family is the family institution that I live with. Currently, there are five
family members that are in the household. The head of Rozi's family is Mohd
Rozi bin Abdullah and he is my father and his wife or my mom named Azlina
Binti Abdullah. They have been married for over 30 years. This family
household has four children and all boys. I am the eldest, Muhammad Fahmi
(22 years old), Muhammad Hafiz (20 years old), Muhammad Haziq (15 years
old), and Muhammad Danial (8 years old).
My family currently resides at 29, Persiaran Saujana 6, Saujana Utama 3,

47000, Sungai Buloh, Selangor. The occupation of the head of this family is the
Human resource manager at KPMC Puchong. My father is already working in
KPMC Puchong for 6 years starting from 2017 until now. Meanwhile, his wife,
Ms Azlina Binti Abdullah is a Mathematic Teacher in Sekolah Menengah
Kebangsaan Bandar Baru Sungai Buloh. She has been serving as a teacher for
14 years from 2009 until now. Both of them support each other in raising
children and putting food on the table in this household.
PURCHASE OF ASSET
In terms of assets and lifestyle, my family owns 2
houses, which are the house where we currently
live as a family in Saujana Utama 3 and also a
house for rent in Pengkalan Chepa, Kelantan.
At this time,
the household uses two cars and one motorcycle. The
cars my family uses include the Grand Livina and
the Axia. Meanwhile, the motorcycle is Honda 125.
Households also have investment assets. Investment
assets owned by households are Tabung Haji,
Amanah Saham Berhad (ASB), Medical Insurance,
Education Insurance and General Insurance (family).
In terms of owning liabilities, the family does not own any liquid liabilities.
The family only bears long-term liabilities which are two housing which are
for loan and rent and two cars loan.
Me and all my siblings in the household are currently still a student and
pursuing our studies at a different level. Me and my second brother studied at
the same university which is at Universiti Teknologi Mara Puncak Alam. My
third brother studied at a boarding school which is at School Menengah
Kebangsaan Slim River, Perak and my youngest brother studied at Sekolah
Menengah Kebangsaan Saujana Utama.
2.0
FAMILY INCOME
AND
COMMITMENT
FAMILY INCOME
MOHD ROZI BIN
ABDULLAH
SALARY
AZLINA BINTI ABDULLAH
INCOME
ASB DIVIDEND
DIVIDEND
TABUNG HAJI DIVIDEND
COMMITMENT
The house has a significant number of monthly commitments and expenses that
need to be managed. These costs can differ from month to month, particularly
around the holidays of Hari Raya and Raya Korban. The household's cash flow
and balance sheet will be calculated to account for all of these monthly
commitments. The Rozi family's monthly expenses are listed below;
Electricity bill and utilities

Children expenses
Groceries
Housing loan monthly payment
Car loan monthly payment
Insurance monthly payment
University Fees
School Fees
Wifi Bill
LONG TERM DEBT -
LOAN CALCULATION
Household : Saujana Utama 3
Property Price : RM300,000
Loan Period : 35 years
Monthly payment : RM1,500
The household need to pay RM1,500

monthly to the bank to complete the Long
Term Debt.
LONG TERM DEBT -
LOAN CALCULATION
Brand : Grand Livina
Loan Period : 8.5 years
Monthly payment : RM502
The car need to pay RM502 monthly to the

bank to complete the Long Term Debt.
LONG TERM DEBT -
LOAN CALCULATION
Brand : Perodua Axia
Loan Period : 9 years
Monthly payment : RM476
The car need to pay RM476 monthly to the

bank to complete the Long Term Debt.
3.0
BALANCE
BALANCESHEET STATEMENT
SHEET STATEMENT
CE SHEET STATEM
LAN EN
BA T
EXPLANATION
The balance sheet statement shows that the family has a significant amount of net worth. The
reason for this is that the family discourages unnecessary debt and liabilities, as evidenced
by the fact that there is only one liquid obligation and a small number of long-term debts
owned, as well as the high value placed on assets, particularly in lifestyle and investment
assets.
4.0
CASHFLOW STATEMENT
CASHFLOW STATEMENT
EXPLANATION BASED ON CASHFLOW
The family's net monthly income is fairly high

according to the cash flow statement. There may
be a month when the family needs to spend more
money because of Hari Raya, like April 2022, but
overall, the family's costs do not put a limit on
the income mentioned.
5.0
RATIO
RATIO
LIQUIDITY ASSET DEBT SERVICE
CURRENT RATIO DEBT RATIO
TO THP RATIO COVERAGE RATIO
LIQUID ASSET / LIQUID ASSET / SALARY - TAX /

TOTAL LIABILITIES
CURRENT SALARY - TAX TOTAL
/ TOTAL ASSETS
LIABILITIES INSTALLMENT
= 23 TIMES = 17.92 % =47.57% =RM3.28

6.0
SUGGESTION, RECOMMENDATION AND

CONCLUSION
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SUGGESTION : Overall, it is clear that this family will be able to balance its assets and
responsibilities in 2022. However, there are a limited number of steps the family can do to
ensure the stability of their finances.
RECOMMENDATION : Spend less money. Even if costs are vital, especially for a large family,
they can be minimised by determining which details are less crucial than others. According to
me, there are a number of details that can be cut back on, such as Hari Raya expenses, bills
and utilities, and internet plan costs.
CONCLUSION : As a consequence, it is clear that family financial planning is crucial for

managing the household's income, assets, salaries, liabilities, and other budgets that are
connected to financial management. It will be difficult for them to detect any inaccuracy
or financial issue that would arise in the near future without any correct computation and
paperwork.
Financial planning will also assist the family in keeping track of their savings and spending.
It will directly secure the household's financial stability and, at the same time, foster a less
anxious environment regarding financial strain.

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FIN533 : PERSONAL FINANCIAL PLANNING

FAMILY'S FINANCIAL PLANNING

NAME : MUHAMMAD FAHMI BIN MOHD ROZI

My family currently resides at 29, Persiaran Saujana 6, Saujana Utama 3,

Electricity bill and utilities

The household need to pay RM1,500

The car need to pay RM502 monthly to the

The car need to pay RM476 monthly to the

The family's net monthly income is fairly high

LIQUID ASSET / LIQUID ASSET / SALARY - TAX /

= 23 TIMES = 17.92 % =47.57% =RM3.28

SUGGESTION, RECOMMENDATION AND

CONCLUSION : As a consequence, it is clear that family financial planning is crucial for

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