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    Personal Financial Plan

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    Thomgie Tila
    This document outlines a personal financial plan with budgets, expenses, income, and financial goals. It shows the person's monthly budget with actual income exceeding projections. It allocates 60% of income to savings. The financial goals section lists education, future, and retirement goals, including target amounts and timelines. It proposes strategies like increasing efficiency, leveraging assets, passive income, and investment portfolio to achieve the goals.

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    © All Rights Reserved
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    Personal Financial Plan

    Uploaded by

    Thomgie Tila
    37 views6 pages
    This document outlines a personal financial plan with budgets, expenses, income, and financial goals. It shows the person's monthly budget with actual income exceeding projections. It allocates 60% of income to savings. The financial goals section lists education, future, and retirement goals, including target amounts and timelines. It proposes strategies like increasing efficiency, leveraging assets, passive income, and investment portfolio to achieve the goals.

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    Personal financial plan

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    This document outlines a personal financial plan with budgets, expenses, income, and financial goals. It shows the person's monthly budget with actual income exceeding projections. It allocates 60% of income to savings. The financial goals section lists education, future, and retirement goals, including target amounts and timelines. It proposes strategies like increasing efficiency, leveraging assets, passive income, and investment portfolio to achieve the goals.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    37 views6 pages

    Personal Financial Plan

    Uploaded by

    Thomgie Tila
    This document outlines a personal financial plan with budgets, expenses, income, and financial goals. It shows the person's monthly budget with actual income exceeding projections. It allocates 60% of income to savings. The financial goals section lists education, future, and retirement goals, including target amounts and timelines. It proposes strategies like increasing efficiency, leveraging assets, passive income, and investment portfolio to achieve the goals.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 6

    PERSONAL FINANCIAL PLAN

    BUDGET AND CASH FLOW STATEMENT


    INCOME BUDGETED ACTUAL VARIANCE
    Salary ₱12,000 ₱15,000 ₱3,000
    Bonus ₱2,000 ₱2,000 0
    Savings from Previous ₱3,000 ₱3,000 0
    Month
    EXPENSES BUDGETED ACTUAL VARIANCE
    Electricity ₱500 ₱350 ₱150
    Water ₱700 ₱560 ₱140
    Gas ₱800 ₱700 ₱100
    Grocery ₱3,000 ₱3,000 0
    Transportation ₱1,500 ₱1,500 0
    Allowance ₱3,500 ₱3,000 0
    Others ₱2,000 ₱2,000 0
    Total Expenses ₱12,000 ₱11,110
    TOTAL INCOME MINUS ₱3,000 ₱3,890
    TOTAL EXPENSES
    INCOME BREAKDOWN
    Expenses Wants Savings

    20%

    20% 60%
    FINANCIAL GOAL PARTICULARS Goal Priority Target Goal Amount Age at Goal Start Period No. of Years

    Fund for Master’s Degree High ₱100,000 24 2021-2024 3


    EDUCATION
    AL GOAL
    Fund for Doctorate Degree Medium ₱250,000 27 2024-2027 3
    Funds for House High ₱500,000 30 2030-2033 3
    Funds for Livestock Raising High ₱100,000 32 2033-2034 1
    FUTURE FINANCIAL GOAL

    Funds for SME High ₱150,000 35 2033-2034 1

    Funds for Vacation/Travel Optional ₱50,000 35 2034-2035 Every 2 years

    Contingency Fund High ₱100,000 27 2024-onwards -

    Funds for regular expenses High ₱1,000,000 50 2050-onwards -


    RETIREMENT PLAN

    Funds for medical expenses High ₱500,000 50 2050-onwards -

    Contingency Fund High ₱100,000 50 2050-onwards -

    For Inheritance Optional ₱500,000 50 2050-onwards -


    Strategies to Achieve Financial Goals
    •Increase financial efficiency
    •Leverage on assets rather than liabilities
    •Generate sources for passive income
    •Generate an investment portfolio for retirement

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