A budget is a plan that outlines a person's expected income and expenses over a set period of time. Creating a budget helps determine if one can afford certain purchases or needs to reduce spending. It is an important tool for prioritizing spending and managing finances. Students and new graduates especially benefit from budgets to handle school or living expenses with limited income. After graduating, priorities for budgeting include paying off student loans, building an emergency fund, and starting retirement savings. Practicing impulse control and automating savings are keys to effective budgeting.
A budget is a plan that outlines a person's expected income and expenses over a set period of time. Creating a budget helps determine if one can afford expenses and prioritize spending. It is important for students, new graduates, and beyond to create budgets that allocate funds for necessities, debt repayment, emergency savings, and retirement. Proper budgeting requires tracking income and expenses, paying off high interest debts first, building an emergency fund, and practicing self-control to avoid impulse spending.
This document discusses debt management and analyzing one's loan portfolio as an important part of financial planning. It states that a loan portfolio has a big impact on investible surplus, so it is important to analyze loans to pay them off strategically or manage them to reduce interest costs and increase surplus. It then provides tips for analyzing one's loan portfolio, including understanding interest rates, monthly EMIs, loan types and balances, and macroeconomic factors that could impact floating rate loans. The overall message is that having a "5D view" of one's full loan portfolio is important for effective debt management and cash flow optimization.
Money management is more important than earning money. Money management tips may not be the same for everyone. It may vary considering your behavior of money management. You should know how to manage money wisely. Your well-deserved cash should be saved, contributed to, and spent prudently in a deliberate way to guarantee long-haul dependability and liquidity. This should be possible through viable cash the board.
Money management is more important than earning money. Money management tips may not be the same for everyone. It may vary considering your behavior of money management. You should know how to manage money wisely. Your well-deserved cash should be saved, contributed to, and spent prudently in a deliberate way to guarantee long-haul dependability and liquidity. This should be possible through viable cash on the board.
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The document discusses creating an income and expense statement and cashflow statement to assess financial position over time. It explains that an income statement shows income and expenditures over a period, while a cashflow statement only includes actual cash inflows and outflows. The key steps are to list all sources of income, expenditures, and determine the surplus or deficit. Creating these statements makes it easy to see where money is being spent and how earnings and expenses impact net worth over time.
A budget is a plan that outlines a person's expected income and expenses over a set period of time. Creating a budget helps determine if one can afford certain purchases or needs to reduce spending. It is an important tool for prioritizing spending and managing finances. Students and new graduates especially benefit from budgets to handle school or living expenses with limited income. After graduating, priorities for budgeting include paying off student loans, building an emergency fund, and starting retirement savings. Practicing impulse control and automating savings are keys to effective budgeting.
A budget is a plan that outlines a person's expected income and expenses over a set period of time. Creating a budget helps determine if one can afford expenses and prioritize spending. It is important for students, new graduates, and beyond to create budgets that allocate funds for necessities, debt repayment, emergency savings, and retirement. Proper budgeting requires tracking income and expenses, paying off high interest debts first, building an emergency fund, and practicing self-control to avoid impulse spending.
This document discusses debt management and analyzing one's loan portfolio as an important part of financial planning. It states that a loan portfolio has a big impact on investible surplus, so it is important to analyze loans to pay them off strategically or manage them to reduce interest costs and increase surplus. It then provides tips for analyzing one's loan portfolio, including understanding interest rates, monthly EMIs, loan types and balances, and macroeconomic factors that could impact floating rate loans. The overall message is that having a "5D view" of one's full loan portfolio is important for effective debt management and cash flow optimization.
Money management is more important than earning money. Money management tips may not be the same for everyone. It may vary considering your behavior of money management. You should know how to manage money wisely. Your well-deserved cash should be saved, contributed to, and spent prudently in a deliberate way to guarantee long-haul dependability and liquidity. This should be possible through viable cash the board.
Money management is more important than earning money. Money management tips may not be the same for everyone. It may vary considering your behavior of money management. You should know how to manage money wisely. Your well-deserved cash should be saved, contributed to, and spent prudently in a deliberate way to guarantee long-haul dependability and liquidity. This should be possible through viable cash on the board.
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Financial Services Essays
Corporate Finance Essay
Managing Financial Resources Essay examples
Essay on personal finance goals
Reflection About Finance
Business Finance Essay
Essay on My Personal Financial Plan
Finance Director Essay
Essay Corporate Finance
Essay about Ethics in Finance
Essay on Finance
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The document discusses creating an income and expense statement and cashflow statement to assess financial position over time. It explains that an income statement shows income and expenditures over a period, while a cashflow statement only includes actual cash inflows and outflows. The key steps are to list all sources of income, expenditures, and determine the surplus or deficit. Creating these statements makes it easy to see where money is being spent and how earnings and expenses impact net worth over time.
This document provides guidance on personal financial management. It discusses the importance of budgeting, saving for retirement, managing debt, and setting financial goals. The key recommendations are to create a budget that spends less than you earn, pay off high-interest debt first, start retirement savings as early as possible, and set specific financial goals to stay motivated to save and reduce spending. Proper management of personal finances through budgeting, savings, and debt repayment is essential to achieving financial security over the long run.
This document provides guidance on selecting mutual fund schemes. It discusses the importance of defining investment goals, assessing risk appetite and time horizon to determine suitable scheme categories. It then covers factors to consider when selecting fund houses and schemes such as performance track record, consistency, portfolio attributes and risks. The document emphasizes that asset allocation based on goals and risk profile is more important than timing or selecting individual schemes. Overall, the document outlines a process for investors to methodically choose mutual fund schemes that match their objectives and risk tolerance.
This document discusses the importance of financial education and provides an overview of basic financial concepts. It is published by Primerica, a financial services company, to help consumers overcome common financial challenges through knowledge. The document encourages readers to take control of their finances by learning principles like paying themselves first, eliminating debt, investing for the long term, and starting early to benefit from the power of compound interest and time. It presents savings and investment strategies as ways for working Americans to achieve financial security and independence.
This document provides an overview of a personal finance course. The course aims to help students gain skills to responsibly manage their money and gain perspective on how finances should affect their lives. The course will cover topics like setting financial goals, maximizing income and assets while minimizing expenses and liabilities, financial planning at different life stages, and determining net worth. The overall goal is to help students attain both financial and non-financial life goals in a sustainable way.
The document provides an overview of the key components of a personal financial plan, including budgeting and tax planning, managing liquidity, financing large purchases, protecting assets and income through insurance, investing funds, and planning for retirement and one's estate. It outlines the six main steps to developing an effective financial plan: establishing goals, evaluating one's current financial position, identifying alternative plans, selecting the best plan, evaluating progress, and revising the plan as needed. Finally, it discusses how the Internet can facilitate financial planning by providing updated information and tools to support all aspects of the financial planning process.
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The document discusses the pros and cons of personal budgeting. It examines the different aspects of developing and sticking to a budget, including estimating expenses, setting savings goals, and breaking down variable cost categories. The author reflects on learning about future value of money concepts and plans to incorporate alternative investments into their own budget to better secure their retirement. While sticking to a strict budget can be challenging due to impulse spending, proper planning and curbing spending habits are important for future financial success and security.
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This document discusses creating a personal financial plan. It emphasizes that financial goals should drive the plan and having clear goals is important. A good financial plan includes seven key components: budgeting, managing liquidity, financing large purchases, managing risk, investing, planning for retirement, and record keeping. The first component discussed is budgeting, which involves determining net worth, establishing income, and identifying expenses. Managing liquidity or cash flow is also important, including decisions around credit use and credit management. Different types of credit like installment plans and credit cards are outlined. Overall, the document provides an overview of the important elements to include when creating a personalized financial plan.
This document provides an overview of developing and maintaining a personal budget. It discusses identifying financial goals and values, basic budgeting principles, tools for creating a budget, and challenges to budgeting. Key steps include creating a net worth statement, setting short-term financial goals, customizing a budget by tracking income and expenses, and using digital tools like Mint.com to monitor progress. Maintaining a budget is presented as an important part of taking control of spending, saving, and avoiding debt.
1. Financial planning involves evaluating one's current financial situation, setting goals, and developing recommendations to achieve those goals. It includes areas like investing, taxes, savings, and insurance.
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3. Maintaining and monitoring the financial plan is emphasized as important for adapting to changes in one's circumstances over time. Various tips are provided around managing expenses, savings, debt, and investments.
The document provides an overview of financial planning using mutual funds. It discusses how financial planning helps meet life goals through proper management of finances. It also outlines the key steps in financial planning, including setting objectives, developing plans to meet objectives, creating a budget, and regularly reviewing progress. The document then discusses research methodology, highlighting the objectives to better understand financial planning and mutual funds as an investment avenue tailored to investors' risk profiles and goals.
The document outlines objectives for teaching pharmacy students and pharmacists about personal finance. It discusses the importance of financial literacy for employees and the costs of poor financial behaviors for employers, such as absenteeism and reduced productivity. The summary also describes the key steps in personal financial planning, including determining one's financial situation, setting goals, evaluating alternatives, creating an action plan, and reevaluating. It defines personal balance sheets and cash flow statements as tools for financial planning.
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4. OBJECTIVES
K: Describe the ways of managing personal finance using the
money management cycle;
S: Create a personal financial plan and;
A: Discuss on the importance of managing personal finance in a
given situation.
I
Learning Competencies:
Illustrate the money management cycle and give examples of sound practices in
earning, saving, and investing money (ABM_BF12-IVo-p-27)
2
5. I
Pre-assessment
Multiple Choice. Read carefully and answer the questions below. Write the letter of your
correct answer in your notebook.
1. Which financial institution accepts deposits from individuals and provide loans?
A. Financial institution
B. Depository institutions
C. Lending institutions
D. Bank deposits
2. Financial Institutions that accept deposits and use the funds to provide commercial
and personal loans.
A. Commercial banks
B. Central bank
C. Lending institution
D. None of these
3. An Organization that collects and stores credit information about individual
borrowers.
A. Credit bureau
B. Depository bank
C. Lending institution
D. Non-commercial bank
4. Spending 70% of the money you make, saving 20% and investing 10%
A. 10-20-70 rule
B. 20-10-70 rule
C. 70-20-10 rule
D. None of the above
5. The following are the general requirements for long-term loan application except
A. Proof of income.
B. Valid Identification.
C. Collateral.
D. All of the above.
6. Which of the following is an investment?
A. Car
B. House.
C. Shares in a company.
D. All of the above.
6. 7. For which of the following should you save?
A. Purchases
B. Wealth building
C. Emergency fund
D. None of the above
8. Which of these is not a key to saving money?
A. Spend money.
B. Making saving a habit.
C. Your income.
D. Self- discipline.
9. Which of the following is the reason why people do not save money?
A. They lack discipline.
B. They lack focus.
C. They do not live on a budget.
D. All of these
10. Which of the following is NOT one of the three basic reasons for saving money?
A. Emergency fund
B. Large purchases
C. Have money available to lend to friends.
D. Build wealth.
11. What is compounding interest?
A. Interest that is not calculated on a regular basis.
B. Interest gained only on the principal amount.
C. Interest added to the principal amount.
D. Interest that doubled the principal amount
12. Opportunity cost is the value of money you pass up for another investment
opportunity.
A. True C. Neither A or B is correct
B. False D. None of these
13. ROI percentages is helpful when comparing investments.
A. True C. Neither A or B is correct
B. False D. None of these
14. Equity investors make money by selling an investment for more than what they paid
for it.
A. True C. Neither A or B is correct
B. False D. None of these
15. A mutual fund is an option which allows you to pull money and invest in a portfolio
with other investors.
A. True C. Neither A or B is correct
B. False D. None of these
7. Task 1
’s In
In our past lesson, we studied about personal finance philosophies. Let us see how far can you
apply those philosophies by briefly explaining the following statements below. Write your
answer in your notebook.
1. Budgeting makes people smart with money.
2. You are responsible for your own wealth.
Scoring Rubric: (Highest Possible Score = 20 points)
Criteria Scale
5 3 2 1
FOCUS Sharp distinct Apparent point No apparent Minimal
(The single controlling point made about the point but evidence of
controlling point made about the topic , sufficient with the topic
made with an topic with of task. evidence
awareness of task evident about the
about a specific awareness of task. topic
topic)
CONTENT Substantial specific Sufficiently Limited Superficial
(The presence of and/or illustrative developed content content with and/or
ideas developed) content with adequate inadequate minimal
demonstrating elaboration or elaboration content
strong development explanation. or
and sophisticated explanation.
ideas.
ORGANIZATION Sophisticated Functional Confused or Minimal
(The order developed arrangement of arrangement of inconsistent control of
and sustained) content with evident content that arrangement content
and/or subtle sustains a logical of content arrangements
transitions. order with some with or
evidence of without
transitions. attempts at
transition.
LANGUAGE/ Makes few errors in the Makes several errors Makes several Makes
STRUCTURE use of verbs, noun, in structure but do not errors that utterances that
choice of words but do affect overall interfere overall are so brief that
not hinder comprehensibility comprehensibili there is little
comprehensibility ty evidence of
structure and
comprehensibili
ty is impeded.
8. ’s New
Task 2
Scenario
Imagine that you win 20 million from lottery. How are you going to manage the
amount you had won? Create a lifelong plan to guide all of your investing and spending
decisions. Use the matrix below to organize your thoughts then answer the succeeding
question.
Investing /Spending Strategies Amount
Example : Buy a car 1,000,000
Question:
1. Which among the investing/spending strategies you listed above you think is most
practical? Justify your answer.
6
9. Earning /
Income
generating
Investing Spending
Saving
is It
Money Management in Personal Finance
Money management refers to the processes of budgeting, saving, investing, spending,
or otherwise overseeing the capital usage of an individual or group. The term can also refer
more narrowly to investment management and portfolio management.
Money management broadly refers to the process utilized to record and administer an
individual’s, household’s, or organization’s finances. Poor money management can lead to
cycles of debt and financial strain.
This process can be seen in Figure 1, where money management will start with the
“earning stage” where an individual will make a list of his / her earnings. Next is to identify
its “spending” pattern in which the individual will make a list of all the necessary
expenditures (needs) so it can be deducted to its gross income. After deducting the necessary
expenditures from the gross income, the remaining portion will go to “savings”. The last
stage will be “investing”, in which he / she will choose which investment type will he / she
will use. This cycle represents a continuous process in which will make your personal finance
are well controlled and monitored.
Figure 1. Money management cycle.
.
10. Money management can be proactive with periodic or regular financial planning. It
can also be reactive to specific events without intuitive planning in advance.
“Money management provides you with a 360-degree view of your financial picture
while applying key financial disciplines to help you overcome the obstacles to wealth. With a
clear purpose for your money and sound money management principles behind it, you are in
much more control of your financial destiny.” 1
As a result of different ages, lifestyles, family structures, and many other factors,
financial plans for individuals are different. However, the fundamental principles of budgeting
can be commonly shared. For example, one simple method of personal budgeting is the “50-
20-30 Budget Rule.”
The 50-20-30 Budget Rule suggests an individual spends 50% of their after-tax
income on essential expenditures. The essentials include house mortgages or rents,
transportation, groceries, utilities, and so on. 30% of their income should be spent on the
things that the person wants. It can include expenses on partying with friends, movie tickets,
and vacations. The remaining 20% should be saved or invested for future financial goals.
Money management with intuitive planning and budgeting helps to reduce inessential
expenditures. Such expenditures do not add value to an individual’s living standards. They
can be saved or invested for better use in the future. Money management also lowers the risk
of running out of money. It helps individuals to achieve their financial goals in the long term.
Personal financial management is a daunting and continuous task that can cause even
the most economically savvy individual to become confused or short-sighted.
Indeed, in a world where assets and investments move quickly and we link our bank
accounts to innumerable services and make purchases with the touch of a button, financial
management is a trickier concept than ever before.
To make the most of the money at your disposal requires constant awareness and
strategic thinking.
How do we manage personal finances?
Assess Your Financial Situation
Determining one's net worth is an important element of managing personal finances.
By assessing net worth, it is possible to place a monetary value on one's financial situation.
1
The Importance of Money Management. Retrieved from: https://dechtmanwealth.com/the-importance-of-
money-
management/#:~:text=Money%20management%20provides%20you%20with,control%20of%20your%20financi
al%20destiny.
8
11. Create a Budget
To manage personal finances effectively, it will require creating a budget. A budget is
a good way to set financial priorities like saving for retirement or a vacation and managing
debt.
Choose a Bank that is Right for You
It is important to choose a bank that will help you accomplish your financial goals. Be
aware that some banks charge more fees for some services than other banks. For example, a
number of banks charge fees for account maintenance, teller services, ATM usage, overdraft
protection, and online bill paying. Many banks offer zero-liability protection for fraudulent
charges made on a debit card.
Pay Taxes
Paying taxes on time is an important part of managing personal finances. If self-
employed, it may be necessary to pay estimated taxes throughout the year. Filing a tax return
by the deadline will avoid the payment of costly penalties. Taxpayers that are unable to file a
tax return on time can obtain an extension. The extension, however, does not extend the time
allowed to actually pay the taxes owed.
Manage Debt
It is important to take control of debt. Although most people have some kind of debt,
such as a car loan or a mortgage, high interest debt can lead to disastrous consequences. To
get control over debt, an individual can sell investments, negotiate with a creditor to repay the
debt in a payment plan, or file for bankruptcy.
Keeping debt low is also an important component of an individual's credit score. While
making payments on time is the most crucial factor, the second most critical factor is the total
amount of debt owed. A debtor can improve a credit score by paying down debt and by
refraining from incurring any more debt.
Invest Your Money
Part of financial management includes a plan to generate income from investments.
Investing is a good way to generate income through compound interest and capital gains.
Investments, however, only make sense when an individual is debt-free or has a small amount
of debt at a low interest rate. Depending on the level of risk that is personally acceptable,
investment choices include certificates of deposit (CDs), bonds, mutual funds, real estate,
commodities, stocks, and business ventures.
Plan for Retirement
Planning for retirement is essential to ensuring a comfortable life in the future.
Investing in an employer-sponsored retirement plan like a 401(k) is a good way to save for the
future, reduce tax liability, and earn tax-deferred growth. Some employers will even match
contributions.
12. Plan for When You Die
Estate planning is another essential aspect of managing personal finances. A will can
ensure that property and cash are dispersed to the appropriate heirs. An individual with minor
children will also want to use a will to appoint a guardian to care for their children if they die.
Also, consider using a living trust to designate property to specific beneficiaries. A
living trust is beneficial because it is not subject to probate and can reduce estate taxes.
Financial plans of an individual depend on his financial objectives that are very much affected
by the stage he is at in an individual life cycle.
1. Accumulation Phase
Those who have just started working or in the early part of their respective careers.
Typical assets that any individual or household acquires in this stage include their own car or
house. It is also in this stage that individuals start separating from their parents.
Because of their acquisition of cars and houses, individuals at this stage also start
incurring liabilities in the form of car and home mortgages which are typically paid over a
long-time horizon.
2. Consolidation Phase
Those in this phase already have the necessary assets required of a typical household
and have settled most of their outstanding liabilities. Family objectives are fulfilled such as
family vacations and purchase of luxury goods, provide children’s education and daily
allowances.
Investments of moderate risk are taken by these individuals since they still have a
longer time horizon before retirement yet not willing to venture on too risky investments
since it will be hard for them to start all over again.
People in this phase need to consolidate and preserve much of the assets they
accumulated throughout the years since they also want to prepare ahead for future
retirement.
3. Spending Phase
Retired individuals belong to this phase. Their main source of income comes from
their pension although they also benefit the returns of their existing investments. Capital
preservation is the main return objective with the intention of earning more than inflation to
protect the value of their investment. Insurance and financial institutions aid these retirees
determining the timing of receipts of the income generated from their insurance and pension
plans so that they do not spend much of it in a limited time span.
4. Gifting Phase
This stage focuses on how the individual provides support to the family members,
friends, or any charitable institution. The focus of the individual is consistent on how he
wants to allocate his wants to these beneficiaries in case of his death or even during his
remaining years.
13. ’s More
Task 3
Read and understand the case below and provide what is being required. Write your answer
in your notebook.
Case Problem:
Interview at least four members in the household that belong to each of the phases
(accumulation, consolidation, spending, gifting) of the individual investor’s life cycle.
Summarize each of their respective responses using the matrix below:
Financial stage
Name of
interviewee
Age
Financial
status
Types of
investment
Significant
liabilities
Accumulation
Consolidation
Spending
Gifting
I Have Learned
Task 4
Direction: In your notebook or in a clean sheet of paper, provide what is being asked for
in each item below:
1. What are the ways of managing personal finances?
2. What are the four phases of personal financial life cycle? Explain the activities in each
phase.
3. What do you think is the importance of managing your own personal finance and in
using the money management process?
14. I Can Do
Task 5
Direction: Prepare the following task:
1. Using the money management process, you are to prepare a list of the four stages in the
cycle: Earning, spending, saving, and investing. Follow the instructions below then answer the
succeeding questions.
A. Identify your sources of funds, for example: allowance coming from your parents, etc.
B. List down all necessary expenditures.
C. Determine if you have excess funds available for savings and investment.
2. Prepare your personal budget plan for the week.
Use the format below:
Earning: Allowance / Other Funds Received ₱
Less: Expenditures (list down below)
₱
( )
Excess / Shortage ₱
Questions:
1. Where will you put the excess funds, if any? Explain briefly.
2. If the sources are not enough to cover for your expenditures, where do you get
additional financing? Explain briefly.
15. Rubric for Scoring
(Highest Possible Score= 20 points)
CRITERIA SCORE
5 POINTS 3 POINTS 2 POINTS 1 POINT
FOCUS Sharp distinct Apparent point No apparent point Minimal evidence
(The single controlling point made about the topic but with evidence of the topic
controlling made about the , sufficient about the topic
point made topic of task.
with an with evident
awareness of awareness of task.
task about a
specific topic)
CONTENT Substantial specific Sufficiently Limited content Superficial and/or
(The presence and/or illustrative developed content with inadequate minimal content
of ideas content with adequate elaboration or
developed) demonstrating elaboration or explanation.
strong development explanation.
and sophisticated
ideas.
ORGANIZATI Sophisticated Functional Confused or Minimal control of
ON arrangement of arrangement of inconsistent content
(The order content with evident content that sustains arrangement of arrangements
developed and and/or subtle a logical order with content with or
sustained) transitions. some evidence of without attempts at
transitions. transition.
LANGUAGE/ Makes few errors in Makes several errors Makes several Very little
STRUCTURE the use of verbs, in structure but do errors that interfere evidence of
noun, choice of not affect overall overall structure and
words but do not comprehensibility comprehensibility comprehensibility
hinder is impeded.
comprehensibility
16. A. Plan for retirement
B. Gifting Phase
C. Plan for when you die
D. Spending Phase
E. Manage debt
F. Assess your financial situation
G. Create a budget
H. Consolidation phase
I. Choose the right bank for you
J. Invest your money
K. Pay Taxes
A. Modified Identification
Direction: Choose your answer in each item from the box below. Write the letter of your
answer in your notebook.
1. Part of financial management includes a plan to generate income from investments.
2. Considering using a living trust to designate property to specific beneficiaries.
3. Determining one's net worth.
4. Sell investments, negotiate with a creditor to repay the debt in a payment plan.
5. A budget is a good way to set financial priorities like saving for retirement or a vacation
and managing debt.
6. Filing a tax return by the deadline will avoid the payment of costly penalties.
7. A right depository bank that will help you accomplish your financial goals.
8. Focuses on how the individual provides support to the family members, friends, or any
charitable institution.
9. Retired individuals belong to this phase.
10. Those in this phase already have the necessary assets required of a typical household and
have settled most of their outstanding liabilities.
B. Modified TRUE or FALSE
Direction: Write TRUE if the statement is correct. If the statement is incorrect, change
the underlined word to make it correct. Write your answer in your notebook or
in a clean sheet of paper.
1. Spending Phase focuses on how individuals provide support to family members,
friends, or charitable institution.
2. Financial status of an individual depends on his financial objectives that are very
much affected by the stage he is at in an individual life cycle.
3. Planning for retirement is essential to ensuring a comfortable life in the future.
4. During the accumulation phase, individuals start incurring liabilities in the form of car
and home mortgages which are typically paid over a long-time horizon.
5. Investments of moderate risk are taken by individuals who are in the spending phase
since they still have a longer time horizon before retirement.
14
17. Financial Life Cycle Task
List down at least three (3) different WANTS and NEEDS that you think are
appropriate for each of the above financial stages.
FINANCIAL STAGE NEEDS WANTS
Accumulation Stage 1. 1.
2. 2.
3. 3.
Consolidation Stage 1. 1.
2. 2.
3. 3.
Spending Stage 1. 1.
2. 2.
3. 3.
Gifting Stage 1. 1.
2. 2.
3. 3.
18. References
Book
Arthur S, C. D. (2017). Business Finance. Manila: Rex Bookstore.
Websites
https://quizizz.com/admin/quiz/5d8940f145ee66001a7a2e6c/saving-multiple-choice.
Retrieved on March 15, 2021
https://www.findlaw.com/consumer/credit-banking-finance/managing-personal-finances-
overview.html
Retrieved on March 15, 2021
https://www.skillsyouneed.com/rhubarb/personal-financial-management.html
Retrieved on March 21, 2021
https://corporatefinanceinstitute.com/resources/knowledge/finance/money-management/
Retrieved on April 30, 2021