Basic Fin Planning
Basic Fin Planning
Basic Fin Planning
5-Minute Assignment
Your uncle just gave you RM10,000 (ten thousand ringgit) to spend as you wish. What will you do with this money and why?
Our course covers 5 major areas of personal finance: 1. Management and acquisition of assets 2. Borrowing: credit cards and consumer loans 3. Insurance 4. Investments 5. Retirement
Benefits of a Plan
A financial plan helps people: live within their income identify financial priorities allocate funds to meet expenses meet financial emergencies and reduce credit use reduce uncertainty and conflict about financial affairs gain a sense of financial independence and control save and invest to reach financial goals
ASSIGNMENT 1
After going through the first lecture and learning about the importance of preparing your short-term and long-term plans, do a reassessment on your first plan on how you are going to spend the RM10,000 your uncle gave you.
ASSIGNMENT 2
SETTING GOALS WORKSHEET
List several important short-term, intermediate and long-term goals. Estimate the cost of each goal and when you expect to reach the goal. Record the amount of money already saved to meet this goal. Figure how much money to save each month in order to reach the goal.
SHORTTERM GOALS
1.
COST
WHEN
ALREADY SAVED
MONTHLY SAVINGS
WHERE SAVED
2.
3.
LONGTERM GOALS
1.
2.
3.