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    Personal Finance

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    Bench Andaya
    The document discusses various aspects of managing personal finance, including assessing your financial situation by determining your net worth, creating a budget, choosing an appropriate bank, paying taxes on time, managing debt, investing money, planning for retirement, estate planning, money management philosophies, and principles and practices related to earning, spending, savings, and investing money. It provides guidance on important elements of financial management.

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    © All Rights Reserved
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    Personal Finance

    Uploaded by

    Bench Andaya
    96 views21 pages
    The document discusses various aspects of managing personal finance, including assessing your financial situation by determining your net worth, creating a budget, choosing an appropriate bank, paying taxes on time, managing debt, investing money, planning for retirement, estate planning, money management philosophies, and principles and practices related to earning, spending, savings, and investing money. It provides guidance on important elements of financial management.

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    business finance

    Original Title

    personal finance

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    The document discusses various aspects of managing personal finance, including assessing your financial situation by determining your net worth, creating a budget, choosing an appropriate bank, paying taxes on time, managing debt, investing money, planning for retirement, estate planning, money management philosophies, and principles and practices related to earning, spending, savings, and investing money. It provides guidance on important elements of financial management.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    96 views21 pages

    Personal Finance

    Uploaded by

    Bench Andaya
    The document discusses various aspects of managing personal finance, including assessing your financial situation by determining your net worth, creating a budget, choosing an appropriate bank, paying taxes on time, managing debt, investing money, planning for retirement, estate planning, money management philosophies, and principles and practices related to earning, spending, savings, and investing money. It provides guidance on important elements of financial management.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    of 21

    Chapter 7

    Managing Personal
    Finance
    Assess Your Financial Situation

    Determining one’s net worth is


    an important elements of
    managing personal finances.
    Create A Budget

    To manage personal finance


    effectively it will require
    creating a budget.
    Choose A Bank That Is Right For You

     It is important to choose a bank


    that will help you accomplish your
    financial goal.
    Pay Taxes

     Pay taxes on time is an important


    part of managing personal finance.
    Manage Debt

     It is important to take control of


    debt.
    Invest Your Money

     Part of financial management


    includes a plan to generate income
    from investment.
    Plan For Retirement

     Planning for retirement is essential


    to ensuring an account.
    Plan For When You Die

     Estate planning is another essential


    aspect of managing personal
    finance.
    Money Management Philosophy

     Money management is the process of budgeting,


    saving, investing, spending or otherwise overseeing
    the capital usage of an individual.
    Four Common Money Management

     Money Avoidance
    believe that money is bad that they
    do not deserve money.
     Money Worship
    there is little evidence that wealth
    and happiness are connected.
     Money Status Script
    can lock individuals into the
    competitive stance of acquiring more
    than set around them.
     Money Vigilance
    are alert, watchful, and concerned
    about their financial health.
    Principles Of Personal Finance

     Know your take home pay


     Pay yourself first
     Start saving at your age
     Compare interest rate
     Don’t borrow what you can’t repay
     Budget your money
     High return equal high risks
     Don’t expect something for nothing
     Map your financial future
     Your credit past is your credit future
     Stay insured
    Principles and Practices in Earning

     earning refers to a company’s net income or profit for


    a certain period, such as fiscal quarter or year.
    Principles and Practices in Spending

     Understand your source of monthly income and the


    percentage of that income that will be allocated to
    fixed cost.
     Make a budget
     Paying with technology
     Build an emergency fund
     Spending less and saving money go hand in hand
    Principles and Practices in Savings

     Spend less than you earn


     Invest as early as you can
     Earn more
     Pay for essential expenses and make minimum debt
    payment
     Build an emergency fund
     Contribute up to the match
     Pay off moderate and high intense debt
    Principles and Practices in Investing
    Money

     Embrace an investing strategy


     Asset allocation must be first
     Invest for the long term
     Keep expenses low
    Practices

     Bring balance into your financial plan


     Invest in what you understand
     Start investing as early as you can
     Separate emotions from objectives

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