Personal Finance Reflection Paper

Personal Finance Reflection Paper
During this semester I have learned a lot about personal finance and what it takes to truly be disciplined. I have learned multiple tips from budgeting
and spending my money to investing my money into funds that could grow my money for me.
Being a waitress it is a little more difficult to manage your money especially when you live off of most of your tips. I have had to keep track of
how much money I make every night and how much money I spend knowing I have cash in my pocket. I now deposit all of money straight into the
bank so that I can keep track of my spending much easier through my bank statements. I have noticed that I spend a lot more money than I realized I
do and have tried to cut down on my spending.
I currently do not have a retirement plan set up. After taking personal finance this semester I know that retirement is very important and I need to
start one. Growing up I always thought there was only a 401(k) retirement plan and I now know there are different kinds such as Simple IRA, Roth
IRA, Traditional IRA and many more. It is very important to know where you are investing your money in an IRA so that you will know how much
money you will have when you are ready to retire.
I have open credit cards but this class has just helped me understand more about the cards and their terms. I need to be careful with credit cards
because it is so easy to open a line of credit without having to read the terms. It is not a bad thing to have a credit line; however, you should know
what you are getting into. You should know what the interest rate (APR) will be, if there will be a grace period and what are the rates associated
with the card. What are the rates for paying your card late, getting a cash advance and going over the limit of your balance?
When buying an automobile or a house the "homework" you need to do for the purchase is almost the same. You need to know how much money
you can afford. This goes back to the basics of personal finance and knowing what your budget is and how much you can afford each month. You
will need to save for a down payment on both an automobile and a house. When buying a car there are websites like Kelly Blue Book and Edmunds
that will help you know how much a vehicle is
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Managing Financial Resources Essay examples
Course:HND BUSINESS
Subject: managing financial resources and decisions.
Student Name: Irshad ul haq
Student No:1124 Assessor Name: mr olumide ologan
Content Page
Section NoPage No 1. Introduction2. Identify the sources of finance available to a business.(P1.1) 3. Assess the implications of different sources.(P1.2)
4. Select appropriate sources of finance for a business project. (P1.3) 5. Assess and compare the costs of different sources of finance (P2.1) 6. Explain
the importance of financial planning.(P2.2) 7. Describe the information needs of different decision making.(P2.3) 8. Describe the impact of finance on
the financial...show more content...
With each source of finance listed the report will assess the implications that can arise and along with this the report will look at the cost to the business
to taking a curtain source of finance. All businesses need short–term finance from the very beginning to start up the business and to cover day–to–day
running costs. This provides the business with working capital. However businesses also need long–term capital to help them to grow and expand, and
this is paid back over a number of years. Without finance a business would find it difficult to accomplish anything, for example someone who
decided to start up a shop would need finance at first to just buy the shop and the stock. Even a window cleaner would need finance to buy equipment
such as ladders and buckets. But this can be taken onto a larger scale, as all businesses need finance at some point
Whether you are thinking of starting up your own business or if an existing business is thinking of expanding, it is likely that money will be needed.
The money needed to start a business is called business finance. Where do businesses get the finance to start a business?
(P1.1) Identify the sources of finance available to a business.
There are a number of ways of raising finance for a business. The type of finance chosen depends on the nature of the business. Large organizations
are able to use a wider variety of finance sources than are smaller ones.

NAME:Tapera Munyavhi
REG. NUMBER:R123729T
DEPARTMENT:Accounting
MODULE:Public Sector Accounting
MODE OF ENTRY:Visiting
LEVEL:4.1
LECTURER:Ms Nyamwanza
ASSIGNMENT
"The civil service and government subscribe to a different code of ethics than the rest of us"
Critically discuss this statement with reference to the Zimbabwean public financial management system. [25]
The civil service is those branches of public service concerned with all government administrations outside the armed services. Public financial
management is defined by The Chartered Institute of Public Finance and Accountancy (CIPFA) as "the system by which financial management
resources are planned, directed and controlled to enable and influence the efficient and effective delivery of public service goals".
Public Financial Management system is a system that oversees the nature and functions of public institutions that are concerned with the sourcing,
collection, custody, allocation, supply reporting and control of public moneys.
According to Jowett (1998), a code of ethics is a written set of guidelines issued by an organization to its workers and management to help them
conduct their actions in accordance with its primary values and ethical standards. The codes of ethics that the government subscribes to are the laws
that are put in place to direct the management of public funds.
Unlike in the private sector, no public servant or political office bearer may,

Introduction To Financial Management Essay
Define the terms finance and financial management, and identify the major sub–areas of finance.
Finance is the study of applying specific value to things individuals own to include services used and decisions determined [Finance by Cornett, M.
M., Adair, T. A., & Nofsinger J. (2014). M: Finance (2nd ed.)]. In simple words,finance is how much value is attributable to goods and services and the
basis of such attribution.
Financial management may be defined as the management of the finances of a business or an organization in order to achieve the financial objectives. It
includes creation, effective utilization of funds to ensure the smooth functioning of the business. It encompasses planning, administration and
controlling.
The various...show more content...
The advantages are as follows:
More than one owner is there in business and hence the risk is shared
Each partner will contribute capital and hence more capital will be available
This is also relatively easier to start compared to a corporation
The income from this type of ownership is taxed once as personal income
The disadvantages of a partnership is as follows:
The profits are shared between the partners. Hence, when compared to a sole proprietorship there is lesser profits
Generally, the liability of the partners is unlimited (except in the case of a limited liability)
It is difficult to transfer ownership
A corporation is a separate legal entity whose transactions and conduct of the business is separate from its owners. Corporations can borrow money,
sue and be sued in its own name. The advantages of a corporation are as follows:
The liability is limited to the amount paid on stock by the investor
The corporation has an unlimited life
There is separation of ownership and management as the corporation is a separate legal entity
Transfer of ownership is easy
As a corporation, it is easier to raise capital from equity and debt market
The disadvantages are:
The agency problem arises as there is separation of management and

Essay about Ethics in Finance
Identify an event or series of events that occurred in the financial marketplace falling within the realm of Financial Management, Financial Institutions
and Markets, or Investments that raise significant ethical questions. Analyze the events, public policy responses and their impact on the financial
markets and economy at large. Suppose you are the CEO of a well respected, multi–million dollar energy company. You stand at the forefront of
innovation and you are world–renowned for your pioneering efforts in the energy industry. However, due to a series of poor financial decisions, your
company is on the verge of bankruptcy. You realize that in order to protect your own interests and investments, desperate measures need to be taken.
...show more content...
The found out the truth about what was really happening to the tremendously "profitable" company and what the executives were really doing behind
close doors. While stockholders believed that their stock with Enron was increasing as time went on, in actuality the total opposite was happening and
they were losing money instead. Many stockholders because of the "profitability" of the stock, had put every cent they had into the company that even
included retirement funds, to wake up the next day and have it depleted. This can all be attributed to the unethical practices that were performed by the
executives at Enron. It was clear that the company was losing money and that the stockholders should be made aware of these loses but instead they
decided to cover up what was happening. This event mislead people into believing that everything was going smoothly and there was nothing to worry
about. The executives knew of what was to come in the future and began to sell stocks based on insider information making them richer and not caring
that the stockholders were going to lose everything that they had invested into the company. These unethical practices would later be discovered and
investigated by the federal government bringing up criminal charges against many of the top executives. In light of recent public scandals involving
high–profile companies such as Enron, the ability of corporations to make ethical decisions has come into

Personal Finance Lessons Learned
While taking the personal finance course this past spring, I learned many valuable lessons that will greatly assist me throughout my life. One lesson I
learned is the importance of paying yourself first. To put this into action, I will save money in an emergency fund to have enough money to live
comfortably for 3 to 6 months, in case of emergency. Furthermore, this course has taught me the importance of budgeting. Using budgeting, I will make
a plan for my money, so I can avoid over drafting and bouncing checks. Another lesson personalfinance taught me is to pay all bills and loans on time
to develop a good FICO credit score, which is what companies use to evaluate the risk of loaning to an individual. Knowing this information will help
me...show more content...
By using a CD instead of a savings account, I will be able to make more money off of the award due to CDs having higher interest rates since the
money cannot be withdrawn until the end of the term. This would not be problematic for me because if I were to receive the award, I would use the
money for college expenses to invest in my human capital, so I would not need it for two years. Going to college will give me a financial advantage
in the long run because according to what I learned in personal finance, people with degrees tend to have higher paying jobs. Additionally, with this
award and scholarships, I might get through college debt free. This too would be extremely beneficial to my financial situation throughout life because
I would not have to worry about paying off student loans and could instead invest in stocks or in my retirement funds. Furthermore, I love volunteering
and giving back to my community, so I also want to invest in nonprofit organizations to help others find their way in life and allow them the
opportunity to go to college, get a well–paying job, and hopefully continue the cycle of giving back. Therefore, the money from this award would
benefit me for the rest of my life along with the community I will invest

Finance, Economics, And Finance Essay
Statement of Purpose
As a child, I often accompanied my uncle to the stock market. Looking at the share index numbers on the large overhead screen, I was fascinated with
this world. As I grew up, I gradually came to appreciate the importance of financial sector in the modern world. In the university, I was fortunate to have
been exposed to many interesting and challenging fields. Though I ultimately chose to major in Accounting, I also studied business, management,
economics, and finance. These courses impressed upon me the importance of the financial sector in the economy. Finance professionals have the unique
responsibility of managing assets and analyzing risks to ensure the future success of a company or organization. It is difficult to overstate the
importance of this role, as the financial crisis of 2009 showed. It is due to my understanding of the importance of finance and investment, coupled with
my longstanding interest for this subject, that I have decided to pursue postgraduate studies in finance at your prestigious university. Earning a master's
degree in finance would ideally complement my undergraduate degree in accounting. My background in accounting provides me with fundamental
knowledge of many finance–related theories and concepts, as well as familiarity with statistics and data analysis. I learned the basic tenets of finance in
courses such as Economics, Management, Accounting and Corporate Finance. Through case studies and lectures, I broadened my

Business Studies Essay Relating to Finance
Financial Management is a critical aspect of any business in order to achieve a sustainable and efficient cash flow. It is essential in maintaining the link
between a business's future financial goals (profit maximization) and the resources that it has in order to achieve its objectives. Businesses demand
certain common goals that increase a bussiness's all around achievement, Some of which involve; growth amongst assests, An increase in efficiency in
all areas of the business whether it be management or not. And the ability to meet short term and long term debts. Finacial management undertakes the
responsibility to implement and acheive these goals for the business using a range of strategies shaped to meet the needs of the business and...show
more content...
By spreading expenses over the whole year there is a more equal cash outflow each month rather than one huge outflow during one month. An example
of this is the offer from insurance companies to be able to pay insurance premiums monthly instead of annually because of the excessively high costs.
Another strategy commonly used is 'Discounts for the early payments', This is where a business may offer discounts to account customers for the early
payment of their accounts to speed up cash inflow. This discount may be a little as 2–5%, but shows effective in terms of cash inflow as it gives
incentive for the customers, Giving both the customer and business a gain in the financial situation. Other incentives for early payment could include
small gifts and discounts on future orders that the customers may have. The business then may shorten the credit terms it allows for account customers.
Thus Reducing the number of days that a customer can take to pay its invoice, this will speed up cash inflow into the business as it recieves cash from
its sales much sooner.
Factoring, a short–term source of borrowing for a business. IT enables a business to raise the funds immediately by selling accounts receivable at a
discount to a firm that specialises in collecting accounts recievable (a finance or even factoring buiness). Factoring is an important source of short–term
finance because the business will recieve up to 90% of the totaly amount of

Finance
1. A financial analyst is responsible for maintaining and controlling the firm's daily cash balances. Frequently manages the firm's shortГўв‚¬'term
investments and coordinates shortГўв‚¬'term borrowing and banking relationships. FALSE
2. Finance is concerned with the process institutions, markets, and instruments involved in the transfer of money among and between individuals,
businesses and government. TRUE
3. Financial services are concerned with the duties of the financial manager. FALSE
4. Financial managers actively manage the financial affairs of many types of business–financial and non–financial, private and public, for–profit and
not–for–profit. False??
5. In partnerships, owners have...show more content...
TRUE
28. Liquidity preference theory suggests that for any given issuer, longГўв‚¬'term interest rates tend to be higher than shortГўв‚¬'term rates due to the
lower liquidity and higher responsiveness to general interest rate movements of longerГўв‚¬'term securities; causes the yield curve to be
upwardГўв‚¬'sloping. TRUE
Chapter 7
29. Holders of equity have claims on both income and assets that are secondary to the claims of creditors. TRUE
30. The tax deductibility of interest lowers the cost of debt financing, thereby causing the cost of debt financing to be lower than the cost of equity
financing. TRUE
31. Preferred stock is a special form of stock having a fixed periodic dividend that must be paid prior to payment of any interest to outstanding bonds.

FALSE
32. Cumulative preferred stocks are preferred stocks for which all passed (unpaid) dividends in arrears must be paid in additional shares of preferred
stock prior to the payment of dividends to common stockholders. False???
33. Preferred stock is often considered a quasiГўв‚¬'debt since it yields a fixed periodic payment. TRUE
34. The amount of the claim of preferred stockholders in liquidation is normally equal to the market value of the preferred stock. False???
35. Cumulative preferred stocks are

Essay on personal finance goals
Figuring out where you will be financially years from now is hard to imagine. There are always what you plan, and then there's things that just happen
that you would usually rather not have of. You can always make goals and things and hope that things go alright and end up close to what you expected.
I am currently eighteen years old. I am working on setting up all my financial things so that I am independent and can rely on myself for what I need
and not have to worry about having my parents approving of things and being responsible for what I choose to do. I am going to take out a small loan
soon and work on building up my credit history. I am also planning on transferring all my things like my car and phone to my name. This summer I
...show more content...
I will then purchase my own house and also a car. I will be paying insurance on both of these items. I will work the rest of my life as a Nurse and will
eventually retire at the age of 65.
Although I don't really know how well all of this will work out and I'm sure there are probably easier ways to do all this, I don't think I will be talking
to any professionals. I think I have enough basic understanding in order to keep myself stable. Granted I will probably fall a couple of times and
make a few mistakes, I've been taught to keep working at it and you'll get it right eventually. I know that in order to get what you want you have to
try and work really hard. I don't believe in being handed things, whether it be money or advice or anything else. I would rather try and fail then have
someone tell me what to and what not to do.
I myself believe in risks to an extent. I think they are alright as long as they are somewhat logical. I don't believe in "jumping off a cliff with no
ropes hoping to survive". I plan on having two accounts, one checking and one savings. I will mainly work with my checking account and the
savings will not be touched unless for emergencies. I will keep a minimum of a thousand dollars in my savings account, which I will be opening at a
credit union since they have a slightly higher interest rate, so I will always have it. I have learned to always keep a "safe" amount of

Finance Essay
5558 Nath
Why would not your financial problems end with even more income? 7 reasons! Sandeep works in a multinational company and earns one lac a
month, but still he remains upset about his finances. It often comes to his mind that when I was earning 50 thousand rupees in the beginning of the
career, I would have been hardly satiate the needs of month anyway, and today, when I earn twice even than the money is falling short.
Friends, are you able to relate to this situation of Sandeep?
Is this happening to you – your income is increasing but still your financial problems could not ending.
Yes, it is a bitter truth that just increasing of income doesn't end financial problems!
But do not panic, you are not the only person to face this...show more content...
3. You give today's happiness more importance than tomorrow's need:
Instead of saving 5000 rupees, you believe in taking new mobile of 15 thousand, even when your old mobile is absolutely right! The philosophy of
"Living in the moment" is seems well only when "financials for the future" are intact. But you believe in the first part and forget the other!
Do not do this, it is very important to make balance between these two things. Doing this can saves you from many financial stresses.
Always remember this one quote of Warren Buffett, world's most successful investors–
"Do not save what is left after spending, but spend what is left after saving."
4. You do not separate 'wants' from 'needs':
Need: Something without which it will not go.
Want: Something that you want you to have, but you can work without it too.
People worry about finances also makes their desire their needs. For example: Genuinely you need a car, but instead of an affordable hatchback you
make an SUV your need and then pay loan for it years.
Never take anything for just show off, doing so may give you some happiness for a few days, but in the long term, it will make problems to you.
5. You are spend–o–holic:
You used to be disturbed financially because you enjoy spending... There is something in every corner of your house that is the result of buying
impulse. Your wardrobes are full of clothes that you barely wore once or twice. In your drawer, there are

Essay on Schools and Finances
Regardless of the school, public or private, finances play a major role in its survival. While school districts and schools struggle to survive amid the
ongoing and strenuous standards for success, provisions must still be made to ensure that these entities are financially sound (Hall, 2006). The purpose
of this paper is to evaluate the ramifications of school finance litigation and practice in the state of Florida. In addition, this paper will be used to
research the historical evolution of educational finance and explain the most significant paradigm shifts that have taken place in Florida. Finally, this
paper will be designed to evaluate the ways current financial decisions resulting from recent litigation have shaped the educational...show more
content...
To comply with these legal challenges, the Florida legislature replaced the MFP (Minimum Foundation Program) with the FEFP (FloridaEducation
Finance Program). The FEFP would be used to fund districts based on the number of full–time students were in the district. In addition the FEFP
allocated funds so that poorer districts would be able to receive more funds per student (Herrington & Weider, 2001, p. 521). In 1979, FEFP was
challenged by the Gindl Department of Education, Escambia, Florida. The school district challenged the discretionary millage provision which may
lead to funding shortfalls in property poor districts and funding increases in property rich districts. Additionally, in 1993, Kay Glasser and others
sued Florida's Department of Education over the discretionary millage provision. Glasser contended that the millage limit as set by FEFP for school
purposes was unconstitutional, however, the Florida courts upheld FEFP but declined to establish a clear uniform system for public schools
(Herrington & Weider, 2001). Odden and Piccus (2008) posited that regardless of the push for adequacy in education, the need for equity is still
crucial to any school's financial plan. Hence, such cases further suggest that the equity predicament across states and school districts is not one that
will be easily solved (Brimley & Garfield, 2008).
As early as 1995, plaintiffs had begun filing such

Essay Corporate Finance
Why is corporate finance important to all managers?
Corporate finance is a specific area of finance dealing with the financial decisions corporations make and the tools as well as analyses used to make
these decisions. The primary goal of corporate finance is to enhance corporate value, without taking excessive financial risks.
A corporation's management's primary responsibility is to maximize the shareholder's wealth which translates to stock price maximization.
Corporate finance provides the skills managers need in order to:
пЃ¬Identify and select the corporate strategies and individual projects that add value to their firm– Capital Budgeting
пЃ¬Forecast the funding requirements of their company, and devise strategies for...show more content...
In practice business operations are financed by the owners, but sometimes businesses are financed by venture capital firms.
Venture capital is capital typically provided by outside investors for financing of new, growing or stagnating businesses. They are characterized as risky
investments.
Before developing a final product, venture capitalists do not invest into business.
In the first stage the financing venture has finally launched and achieved initial traction. Sales are trading upwards. The funding from this stage is used
to fuel the sales, reach the breakeven point, increase productivity, and cut unit costs. At this point the company is two or three years old. This is the
stage when the venture capitalists get into business.
At second stage of financing, sales are starting to grow rapidly. The company is also rapidly accumulating accounts receivable and inventory. Capital
from this stage is used for funding expansion in all its forms from meeting increasing marketing expenses to entering new markets to finance rapidly
increasing accounts receivable.
At third stage sales are climbing. Customers are happy. The second level of managers is in place. Money from this financing is used for increasing
capacity, marketing, working capital, and product improvement or expansion.
After this stage company is at "Mezzanine or Bridge financing" point when investment bankers agreed

Essay on Sources of Finance
Table of Content Page
I. Assignment coversheet.......................................................................1–3
II. Executive summary.........................................................................5
III. Introduction...................................................................................5
IV. Main body.....................................................................................6
4.1. Sources of finance and its advantages & disadvantages............................6–8
4.2. The implications of the different sources of finance.................................8–9
3. Appropriate sources of finance for a business project................................9–13
4.4. The costs of sources of finance for Vale Filters Limited.............................13–16
4.5. Importance of financial planning.......................................................17–18
V....show more content...
And then Vale Filter can lend money from banks. The main advantage of borrowing from banks is that you might get money to start up your business
easily, quickly. The main disadvantage is in the condition that Vale Filter can not pay back the loan, then the bank will take assets from Vale Filter.
Moreover Vale Filter has to pay the interest and it is usually not small.
The secondary approach to consider that is Government grants. Government is keen that businesses should start up and prosper because successful
businesses provide employment and create wealth for the country. Government would like to develop national economy especially in high technology

industries and in high unemployment areas. Specifically, government will support biological and chemical technology at Vale Filter. We should know
two packages of measures offered by the UK government is "The Enterprise Initiative" and" Grant for Research and Development" which help
small–medium enterprises to use and develop technologically innovative products and processes (BPP, p.21, 2004).
The third approach to consider that is Venture Capital. Venture capital is a type of private equity capital typically provided to early
–stage,
high–potential, and growth companies in the interest of generating a return through an eventual realization event such as an Initial Public Offering
(IPO), or trade sale of the company (en.wikipedia, accessed

Business Finance Essay
Multinational Business Finance, 12e (Eiteman, et al)
Chapter 1 Globalization and the Multinational Enterprise
1.1 Globalization and Creating Value in the Multinational Enterprise
Multiple Choice
1) Which of the following are critical to a firm trying to reach the top of the "firm value pyramid"?
A) An open market place.
B) High quality strategic management.
C) Access to capital.
D) all of the above
Answer: A
Diff: 2
Topic: 1.1 Globalization and Creating Value in the Multinational Enterprise
Skill: Conceptual
2) A well–established, large U.S.–based MNE will probably NOT be able to overcome which of the following obstacles to maximizing firm value?
A) An open market place.
B) High quality strategic management....show more content...
A) Raw materials
B) Financial capital
C) (Non–military) Technology
D) All of the above factors of production flow freely among countries.
Answer: A
Diff: 1

Topic: 1.2 The Theory of Comparative Advantage
Skill: Recognition
4) Which of the following would NOT be a way to implement comparative advantage?
A) IBM exports computers to Egypt.
B) Computer hardware is designed in the United States but manufactured and assembled in Korea.
C) Water of the greatest purity is obtained from wells in Oregon, bottled, and exported worldwide.
D) All of the above are examples of ways to implement comparative advantage.
Answer: D
Diff: 2
Skill: Conceptual
5) Of the following, which would NOT be considered a way that government interferes with comparative advantage?
A) Tariffs.
B) Managerial skills.
C) Quotas.
D) Other non–tariff restrictions.
Answer: B
Diff: 2
Skill: Recognition
True/False
1) The theory of comparative advantage owes it origins to Ben Bernanke as described in his book The Wealth of Bankers.
Answer: FALSE
Diff: 1
Skill: Recognition
2) International trade might have approached the comparative advantage model in the 19th century, and it does so even more today.
Answer: FALSE
Diff: 2

Essay On Pursuing A Degree In Finance
Decision making is a critical step for every individual. Pursuing a degree in finance was an overwhelming decision to make. However, I had to
make it. Since my childhood, I have been having the dream and ambition of working as a financial operator. I wanted to work in this role in any of
the accounting fields. The desire was further enhanced by some of my relatives who used in financial administrators in the City. They looked so great
and appeared to enjoy doing most of their job duties. Also, I could them speak of the working which when I inquired further they gave perfect
descriptions making to desire to join them someday in the future. Moreover, their annual salaries seemed quite attractive. On the academic side, I have
always excelled...show more content...
The general costs of starting at the Harvard University is as shown below: (Harvard, 2017) Tuition per year $44990 Fees per year $3959 Room per
year $10300 Board per year $6360 Subtotal – billed costs per year $65609 Estimated personal expenses per year (including $1,000–$1500 for books)
$3991 Estimated travel costs per year $0–$4000 Total billed and unbilled costs per year $69600 –$73600 * It should be noted that health insurance is
required and it costs $3130. Those with cover under family health plan don't have to pay. However, many of the universities had options for
financial aid. Part 2 Having completed the degree successfully, I will be looking forward to employment in a good accounting firm. I anticipate to
earn and be compensated a substantial amount of money so that I can appreciate my hard work since early years. I will be employed as a financial
controller. The average annual salary for financial controller in the US is about $93003 (PayScale, 2017). If I select to work in New York, I will earn
$102048 (PayScale, 2017). There are several job opportunities in this field. From the salary paid to the financial controllers, it will not take me a
long–term to pay the loan. The loan shall have an interest of 4% so that first I pay it the better so that I do not have to incur a lot of expenses at the
end. However, even if I will not be able to pay immediately, the cost of interest is not much, and therefore I will manage given the high

Finance is a universal concept that affects and concern the lives of every person. All individuals should know the importance of finances regardless of
our profession or area of study. At some point in life everybody, not only big corporations, faces concerns regarding the proper and efficient
management of wealth. This class not only gave me the opportunity to learn about my future career path but also expanded my perspective regarding
the multifunctional aspects of being a professional in the finance sector.
I am the Vice President of Finance at Loyola Limited, four business that is run by undergraduate students. As the Vice President of Finance, I'm
responsible for facilitating the cash inflows and outflows from the business's operations. My responsibilities also include the implementing and
executing budget controls, maintaining the general ledger, tracking and monitoring revenues and expenses. I am also responsible for ensuring the
timely completion of all payments and deposits. Other duties include the accuracy of all financial trackers, enforcing adherence to all of the business's
financial standard operating procedures, performing necessary analysis on sales and expense patterns, and evaluating the viability and impact of any
and all purchases on behalf of the business. Through my experiences in Loyola Limited, I can to realized that as a Vice President of Finance, I wear
many hats. The responsibilities that I hold do not only involve finance but also operations,

Personal Finance And Social Finance
Personal Finance has always been an emotional topic in the United States. Today, many Americans are generating unlimited wealth and living
exceptional lives, while others are struggling to make ends meet. Evidently, people's actions and beliefs are the deciding factors in their achievement of
wealth. Thus, this huge gap in wealth between rich and poor people has a special connection with the philosophy and attitude of each individual toward
personal finance. Merriam–Webster Dictionary defined Philosophy as a set of ideas about how to do something or how to live. Therefore, each
person's philosophy is a major factor in how their personal finance works out since the knowledge of facts, concepts, and principles will determine
how people spend, save, and invest their financial resources. Dr. E Thomas Garman is a renowned advisor and academic. Garman is the author of 30
books and 200 research articles in personal finance and consumer economics. Raymond E. Forgue professor at the University of Kentucky, they
stated, "You have to do only a few things right in personal finance during your lifetime, as long as you do not do too many things wrong."(Garman
and Forgue 5) Clearly, many people are in the dark when it comes to personal finance, their financial IQ is very limited. If only a few money
principles done right is all people need to succeed financially; evidently, they are missing some fundamental information. Sadly, some people do not
recognize this reality which is the

Personal Finance Essay
Personal finance is the principles implementation of finance to an individual's or personal's monetary decisions. It involved the way of an individual or
personal to gain, keep, spend and budget monetary resources over time, and taking into account of different kind of financial risk and future life events.
Personal's wealth picture will determined by combining the personal finance knowledge, education, financial decision, financial plan, goals and
financial desire. The appropriate financial management and improvement will help personal financer to see its positive impact in the next several of
decades.
By studying the personal finance, I know and understand the personal finance basic. First, I learn how to create a financial plan. Financial plan is an
evaluation process that predict...show more content...
Now, I will manage my money by using the balance sheet and income statement. The balance sheet help me to know and understand the asset that I
own and the liabilities that I owe. This may help me to determine the level of my wealth or net worth by subtracting the level of liabilities from assets.
While the income statement help me to trace my money, the income statement is like a financial motion picture which show me where my money
comes ( income ) and where I spent my money ( expenses ). The income statement help me to control my daily spend and make sure that I will not
spending too much.
Apart from that, personal finance also teach me the importance of insurance. Personal finance make me understand that I should protect myself from
risk by buying an insurance. It also help me to understand the life insurance that I needed and choose the appropriate insurance.
The personal finance is extremely important to me because it help me to create a good financial plan and well control and manage my money. The
knowledge of personal finance is very useful and can well insert into our daily

Personal Finance Reflection Paper

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Personal Finance Reflection Paper