Introduction to Basic Concepts of Finance: Money and its need, Meaning and need for Financial Planning; Life goals and financial goals of an individual; Format of a sample financial plan for a young adult.
Planning is bringing the future into the present, so that you can do something about it now. Wise money management can take a lot of worry out of your life.
Know some amazing and important Financial planning tips.
Planning is bringing the future into the present, so that you can do something about it now. Wise money management can take a lot of worry out of your life.
Know some amazing and important Financial planning tips.
Why India needs to work on financial literacyPowertome
Finance is an important part of our lives. It holds all the pieces of our life together. But, if we raise the topic of financial literacy many of us will look clueless. The condition is even more critical for developing nations like India.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
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Introduction of Finance, classification of source of finance according to ownership, period and generation. Define long term financing, medium term financing and also short term financing along with their sources
"Maximizing your savings:The power of financial planning".pptxsadiisadiimano
Title: "Unlocking Financial Freedom: The Power of Strategic Financial Planning"
In today's dynamic economic landscape, mastering the art of financial planning is the key to unlocking true financial freedom. Explore our SlideShare presentation to discover the transformative power of strategic financial planning. From setting SMART financial goals to crafting personalized investment strategies, we delve into the essential principles that pave the way towards long-term prosperity and security. Whether you're a seasoned investor or just beginning your financial journey, our expert insights and actionable tips will empower you to take control of your finances and achieve your dreams. Don't miss out on this opportunity to revolutionize your financial future. Dive into our SlideShare presentation now!
Personal Financial PlanningChapter 1 Personal Fina.docxpauline234567
Personal Financial
Planning
Chapter 1
Personal Financial Planning
A systematic process that considers important
elements of an individual’s financial affairs in
order to fulfill financial goals.
Rewards of Financial Planning
Allows us to acquire, use and control our
financial resources more efficiently
Allows us to gain more enjoyment from
our income
Allows us to improve our standard of
living
Propensity to Consume
Regardless of income level, you must decide to
spend now or spend later
Your decision to spend now is a function of your
propensity to consume – the percentage of each
dollar of income, on average, that you spend on
current needs rather than saving.
Your income level affect your propensity to consume
– higher income lower propensity to consume, since
basic needs represent a lower portion of income
Accumulating Wealth
Wealth consist of financial assets and tangible
assets
Financial assets are intangible and include cash
accounts and securities such as stock, bonds,
mutual funds, etc.
Tangible assets are physical assets such as
automobiles, houses, furniture
Median net worth considering all families $97,300
The Average American, Financially
Speaking Exhibit 1.2
Income and Assets
What Do We Earn? (median) All families $52,700
What Are We Worth? (median) All families $97,300
Home Ownership (median) Value of primary residence $185,000
Mortgage on primary residence $111,000
How Much Savings Do We Have? (median)
Pooled investment funds (excluding money market) $114,000
Stocks $25,000
Bonds $100,000
Bank accounts/CDs $24,500
Retirement accounts $60,000
Personal Financial Planning
A systematic process that considers
important elements of an individual’s
financial affairs in order to fulfill financial
goals.
Six-Steps Financial Planning Process
Discussion
What is your definition of “Goals”?
What are some examples of financial
goals that one may have?
Financial Goals (1 of 2)
Results that an individual wants to attain, such
as buying a home, building a college fund, or
achieving financial independence.
Examples:
Controlling living expenses
Retirement planning
College Education for kids
Financial Goals (2 of 2)
Goals should be specific, for example I will save 10% of take-home
pay
Goals must be realistic, for example it is unrealistic to plan to save
25% of take-home pay
Family (husband, wife, and kids when they are teens) should buy
into the goals
Goals should be assigned a targeted time period
GOALS SHOULD BE SMART
Putting Target Dates on Financial
Goals
Long-term
6 years or more
Intermediate-term
the next 2-5 years
Short-term
in the next year
Professional Financial Planner
An individual or firm that helps clients
establish financial goals and develop and
implement financial plans to achieve those
goals.
Role is similar to that of a personal trainer at
the g.
Why India needs to work on financial literacyPowertome
Finance is an important part of our lives. It holds all the pieces of our life together. But, if we raise the topic of financial literacy many of us will look clueless. The condition is even more critical for developing nations like India.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
Introduction of Finance, classification of source of finance according to ownership, period and generation. Define long term financing, medium term financing and also short term financing along with their sources
"Maximizing your savings:The power of financial planning".pptxsadiisadiimano
Title: "Unlocking Financial Freedom: The Power of Strategic Financial Planning"
In today's dynamic economic landscape, mastering the art of financial planning is the key to unlocking true financial freedom. Explore our SlideShare presentation to discover the transformative power of strategic financial planning. From setting SMART financial goals to crafting personalized investment strategies, we delve into the essential principles that pave the way towards long-term prosperity and security. Whether you're a seasoned investor or just beginning your financial journey, our expert insights and actionable tips will empower you to take control of your finances and achieve your dreams. Don't miss out on this opportunity to revolutionize your financial future. Dive into our SlideShare presentation now!
Personal Financial PlanningChapter 1 Personal Fina.docxpauline234567
Personal Financial
Planning
Chapter 1
Personal Financial Planning
A systematic process that considers important
elements of an individual’s financial affairs in
order to fulfill financial goals.
Rewards of Financial Planning
Allows us to acquire, use and control our
financial resources more efficiently
Allows us to gain more enjoyment from
our income
Allows us to improve our standard of
living
Propensity to Consume
Regardless of income level, you must decide to
spend now or spend later
Your decision to spend now is a function of your
propensity to consume – the percentage of each
dollar of income, on average, that you spend on
current needs rather than saving.
Your income level affect your propensity to consume
– higher income lower propensity to consume, since
basic needs represent a lower portion of income
Accumulating Wealth
Wealth consist of financial assets and tangible
assets
Financial assets are intangible and include cash
accounts and securities such as stock, bonds,
mutual funds, etc.
Tangible assets are physical assets such as
automobiles, houses, furniture
Median net worth considering all families $97,300
The Average American, Financially
Speaking Exhibit 1.2
Income and Assets
What Do We Earn? (median) All families $52,700
What Are We Worth? (median) All families $97,300
Home Ownership (median) Value of primary residence $185,000
Mortgage on primary residence $111,000
How Much Savings Do We Have? (median)
Pooled investment funds (excluding money market) $114,000
Stocks $25,000
Bonds $100,000
Bank accounts/CDs $24,500
Retirement accounts $60,000
Personal Financial Planning
A systematic process that considers
important elements of an individual’s
financial affairs in order to fulfill financial
goals.
Six-Steps Financial Planning Process
Discussion
What is your definition of “Goals”?
What are some examples of financial
goals that one may have?
Financial Goals (1 of 2)
Results that an individual wants to attain, such
as buying a home, building a college fund, or
achieving financial independence.
Examples:
Controlling living expenses
Retirement planning
College Education for kids
Financial Goals (2 of 2)
Goals should be specific, for example I will save 10% of take-home
pay
Goals must be realistic, for example it is unrealistic to plan to save
25% of take-home pay
Family (husband, wife, and kids when they are teens) should buy
into the goals
Goals should be assigned a targeted time period
GOALS SHOULD BE SMART
Putting Target Dates on Financial
Goals
Long-term
6 years or more
Intermediate-term
the next 2-5 years
Short-term
in the next year
Professional Financial Planner
An individual or firm that helps clients
establish financial goals and develop and
implement financial plans to achieve those
goals.
Role is similar to that of a personal trainer at
the g.
Please reword these paragraphs in your own words and do not use th.docxmattjtoni51554
Please reword these paragraphs in your own words and do not use the same words as in the paragraphs.
Focus on Personal Finance, Ch. 1
· 1-The eight components of personal financial planning are obtaining, planning, saving, borrowing, spending, managing risk, investing, and retirement and estate planning. The obtaining component relates to acquiring resources through employment and investments. The planning component involves budgeting while considering future events that may impact an individual's financial position. The saving component creates a financial safety net for the individual that allows for large expenses that could be either planned (tuition) or unplanned (hospital bills). The borrowing component allows for financial smoothing. In situations when the individual does not have liquid cash available for current expenses, they can borrow funds and repay the lender in the future when they have cash available. The spending component is the use of the acquired and saved resources. The managing risk component involves the consideration of many different variables in order to mitigate risk exposure in a way that appropriately meets risk appetite. Each individual has a different risk appetite based on variables such as their age, income, health, etc. The investing component relates to allocating resources in a way that allows them to grow and produce return. Retirement and estate planning involves making decisions to secure a financially stable life after retirement.
I believe the most important component is risk management. Every individual must consider their risk appetite. If the individual is young with very few expenses, it would make sense for them to make investments that have a relatively higher risk exposure because they have a long investment horizon and can recover losses in the long run. However if an individual is nearing retirement and has many expenses, they cannot afford to take on excess risk and would probably prefer to plan for retirement and save. Each individuals risk appetite will affect how the approach the other components of financial planning.
Focus on Personal Finance, Ch. 2
· 2-Budgeting and financial planning can make or break a relationship. Everyone hears about people that are fighting over money all the time, this is simply because the couple doesn't sit down and discuss their financial issues and talk about ways to fix it. When people can come together and put a budget together that can be agreed upon and have legitimate financial plans, this can release tons of stress in a relationship. There are all kinds of different people and the ways in which people deal with money are also very different, so coming up with a good financial plan and a good budget will help a relationship stand on a more solid foundation financially. This type of planning will also give both parties something to hold them accountable for if they stray off path.
Focus on Personal Finance, Ch. 11
· 3-Once we establish our comf.
This paper assesses the feasibility of launching a Micro Saving and Lending(MSL) product by CBE. It found that launching a Micro Saving and Lending(MSL)product is feasible due to the low status of, and high demand for banking digitally in Ethiopia. Micro Saving and Lending(MSL) is a mobile based banking service going to be provided by CBE through CBE Birr. It has banking products that provide convenience, reliability and cost-effective for making micro-saving and taking micro loans. The target customers for this service are all CBE Birr customers. The services provided by MSL are deposit, withdrawal, loan request, loan repayment, balance enquiry, and mini statement.
The following four major business drivers for the introduction of MSL banking service are there. First, CBE has introduced a new customer-centric business model and organizational structure to provide effective service based on customer segment and demand. Second, the National Digital 2025 plan emphasizes the significance of nurturing the small but promising existing ecosystem of digitally enabled society. Third, the internet user ratio of the Ethiopian population is increasing with very high rate, data show that Ethiopia’s internet user population increased by 731 (+2.5 percent) between 2021 and 2022. Fourth, larger part of the Ethiopian society is unbanked and new technologies such as mobile wallet could boost financial inclusion. Finally, the area of banking completion has been through the digital banking.
As per different research finding digital banking is gaining maximum popularity and the banking competition in this area is reaching its toughest stage. Commercial banks, the Cooperative Bank of Oromia, Fin-techs, and Telecommunication companies are getting into the business and are becoming potential competitors. This assessment it has tried to recommend for launching a digital micro saving and lending services and products for the bank’s CBE Birr customers by implementing the best risk-mitigating mechanism with open credit scoring mechanisms, cash flow-based loaning, and psychometric testing method.
CBE has the motivating potential and capabilities to establish the digital saving and lending services effectively, efficiently, and sufficiently. Firstly, it accounts for nearly 50% of the total assets and market share of the banking system and follows a customer-centric service delivery strategy which could help to provide digital micro saving and lending service. Secondly, the NBE National Financial Inclusion Strategy II, (2021-2025), has the vision to create a financially inclusive Ethiopia, which helps to get regulators’ support. Thirdly, it is forming partnerships with different international and domestic (public, development, and government) organizations to improve its capacity to manage the program.
Indeed, CBE should allocate a significant percentage of its asset to start the digital micro saving and lending service to improve its credit portfolio diversification, ex
Digital 2022: Ethiopia
This page contains all the data, insights, and trends you need to help you understand how people in Ethiopia use connected devices and services in 2022.
You’ll find our complete Digital 2022 report on Ethiopia in the “full report” section below, but let’s start by taking a look at the essential headlines for digital adoption and use in Ethiopia this year.
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Ethiopia’s population in 2022
Ethiopia’s total population was 119.3 million in January 2022.
Data show that Ethiopia’s population increased by 2.9 million (+2.5 percent) between 2021 and 2022.
50.0 percent of Ethiopia’s population is female, while 50.0 percent of the population is male.
At the start of 2022, 22.7 percent of Ethiopia’s population lived in urban centres, while 77.3 percent lived in rural areas.
Note: gender data are currently only available for “female” and “male”.
Ethiopia’s population by age
The median age of the population in Ethiopia is 19.9.
For additional context, here’s a look at how the population in Ethiopia breaks down by age group:
• 14.3 percent of Ethiopia’s population is between the ages of 0 and 4.
• 20.3 percent of Ethiopia’s population is between the ages of 5 and 12.
• 11.3 percent of Ethiopia’s population is between the ages of 13 and 17.
• 14.5 percent of Ethiopia’s population is between the ages of 18 and 24.
• 15.5 percent of Ethiopia’s population is between the ages of 25 and 34.
• 10.0 percent of Ethiopia’s population is between the ages of 35 and 44.
• 6.5 percent of Ethiopia’s population is between the ages of 45 and 54.
• 4.0 percent of Ethiopia’s population is between the ages of 55 and 64.
• 3.6 percent of Ethiopia’s population is aged 65 and above.
Note: percentages may not sum to 100 percent due to rounding.
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Internet use in Ethiopia in 2022
There were 29.83 million internet users in Ethiopia in January 2022.
Ethiopia’s internet penetration rate stood at 25.0 percent of the total population at the start of 2022.
Kepios analysis indicates that internet users in Ethiopia increased by 731 thousand (+2.5 percent) between 2021 and 2022.
For perspective, these user figures reveal that 89.50 million people in Ethiopia did not use the internet at the start of 2022, meaning that 75.0 percent of the population remained offline at the beginning of the year.
However, issues relating to COVID-19 continue to impact research into internet adoption, so actual internet user figures may be higher than these published numbers suggest (see here for further details).
For the latest insights into internet adoption and use around the world, follow our regular Global Statshot reports.
Go global: see how Ethiopia’s current “state of digital” compares with connectivity in other countries by reading our flagship Digital 2022 Global Overview Report, which includes hundreds of slides of global digital data, and our in-depth analysis of what these numbers might mean for you.
Internet connection speeds in Ethiopia in 2022
Data
Financial Planning - Personalized Tools to Plan Your Investments<KMS
Financial planning is a roadmap for your financial journey such as buying a house, car, education for children, wealth creation and so on. Plan & analyse your personal finance with Recipe tools and find the best suggestions.
Investment plan is a roadmap for your financial journey such as buying a house, car, education for children, wealth creation and so on. Plan & analyse your personal finance with Recipe tools and find the best suggestions.
Financial planning is a roadmap for your financial journey such as buying a house, car, education for children, wealth creation and so on. Plan & analyse your personal finance with Recipe tools and find the best suggestions.
Financial Planning - Personalized Tools to Plan Your InvestmentsKMS
Financial planning is a roadmap for your financial journey such as buying a house, car, education for children, wealth creation and so on. Plan & analyse your personal finance with Recipe tools and find the best suggestions.
Financial planning in India is a roadmap for your financial journey such as buying a house, car, education for children, wealth creation and so on. Plan & analyse your personal finance with Recipe tools and find the best suggestions.
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A cost sheet is a document used in managerial accounting that provides a detailed breakdown of the costs associated with producing a product or providing a service. It is an essential tool for businesses to analyze and manage their costs effectively. The cost sheet typically includes various cost components classified into different categories, helping managers make informed decisions regarding pricing, production processes, and resource allocation.
The overhead cost chapter in a business or accounting context typically deals with expenses that are incurred in the operation of a business but cannot be directly attributed to specific products or services.
The overhead cost chapter in a business or accounting context typically deals with expenses that are incurred in the operation of a business but cannot be directly attributed to specific products or services.
A chapter on labor cost typically delves into the intricacies of understanding, calculating, and managing the expenses associated with employing labor within a business or organization.
The material cost chapter delves into the fundamental concept of material costs within the realm of production and manufacturing. Material costs represent a significant portion of total production costs for many businesses, making it essential for managers to understand how to effectively manage and control these expenses.
Introduction- Meaning and definition- Objectives, Importance and Uses of Cost Accounting, Difference between Cost Accounting and Financial Accounting; Various Elements of Cost and Classification of Cost; Cost object, Cost unit, Cost Centre; Cost reduction and Cost control. Limitations of Cost Accounting.
Business: Meaning, Nature, Objectives, Social Responsibility of Business, Essentials of Successful business, Functional Areas of Business, Concept of Business Organization.
Introduction to MS Excel, features of MS Excel, Cell reference, Format cells, Data Validation, Protecting
Sheets, Data Analysis in Excel: Sort, Filter, Conditional Formatting, Preparing Charts, Pivot Table, What
if Analysis(Goal Seek, Scenario manager), Financial Functions: NPV, PMT, PV,FV, Rate, IRR,
DB,SLN,SYD.
Logical Functions: IF, AND, OR, Lookup Functions: V Lookup, H Lookup, Mathematical Functions, Text
Functions.
Introduction to Data and Information, Database, Types of Database models, Introduction to DBMS,
Difference between file management systems and DBMS, Advantages and Disadvantages of DBMS, Data
warehousing, Data mining, Application of DBMS, Introduction to MS Access, Create Database, Create
Table, Adding Data, Forms in MS Access, Reports in MS Access.
Introduction to IT, Introduction to IS, Difference be IS and IT, Need for Information System, Information Systems in the Enterprise, Impact of Information Technology on Business (Business Data Processing, Intra and Inter Organizational communication using network technology, Business process and Knowledge process outsourcing), Managers and Activities in IS, Importance of Information systems in decision making and strategy building, Information systems and subsystems.
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A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
A Strategic Approach: GenAI in EducationPeter Windle
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This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
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Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
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Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
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• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
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This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
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3. MONEY
A medium of exchange that is centralized,
generally accepted, recognized, and
facilitates transactions of goods and
services, is known as money.
Money is any item or medium of
exchange that is accepted by people for the
payment of goods and services, as well as
the repayment of loans.
4. Benefits/ Need of Money:
1. Money gives you freedom: When we have enough money, we can live where
we want, take care of our needs, and indulge in our hobbies.
5. Continue…
2. Money gives you the power to pursue your dreams: Having money makes it
possible to start a business, build a dream home, pay the costs associated with
having a family, or accomplish other goals.
6. Continue…
3. Money gives you security: When we have enough money in the bank, we
never need to worry about having a roof over our head or about having enough to
eat or about being able to see a doctor when we are sick.
7. Continue..
4. Money reduces financial stress: When a person’s finances become stable,
financial stress significantly reduces.
8. Continue..
• Money allows us to meet our basic needs—
to buy food and shelter and pay for
healthcare.
• Money allows to buy goods and services
we need.
• Money helps to improve the lifestyle and
living standard of the people.
9. NEED FOR FINANCIAL PLANNING:
Meaning of Financial Planning:
Financial planning refers to the
process of streamlining the
income, expenses, assets and
liabilities of the household to take
care of both current and future
need for funds.
10. Benefits of financial planning:
1. Increase your savings: When we create a financial plan, we get a good deal of
insight into our income and expenses. We can track and cut down the costs
consciously. This automatically increases the savings in the long run.
11. Continue…
2. Enjoy a better standard of living: With a good financial plan, there is no need
to compromise the lifestyle. It is possible to achieve the goals while living in
relative comfort.
12. Continue…
3. Be prepared for emergencies: Creating an emergency fund is a critical aspect
of financial planning. The Emergency fund should be equal to at least 6 months of
the monthly salary.
13. Continue…
4. Attain peace of mind: Financial planning helps you manage your money
efficiently and enjoy peace of mind.
14. LIFE GOALS AND FINANCIAL
GOALS:
Financial goal is the term used to describe the
future needs of an individual that require
funding. It specifies the sum of money
required in order to meet the needs and when
it is required. Goals described in terms of the
money required to meet it at a point of time in
future, is called a financial goal.
15. Types of Financial Goals:
a) Short-Term Goals (< 5 Years) : Short-term goals are something you want to
achieve in the future over the next few months. These are required for your more
immediate expenses. These expenses are generally smaller in scope and easier to
project and predict.
b) Medium-Term Goals (5 - 10 Years) : Medium Term lies between short term
and long term. Short-term goals have a typical timeline of a year whereas long-
term goals are planned for a decade or more. Clearing outstanding dues on your
credit card or personal loan can be classified under medium-term goals.
c) Long-Term Goals (> 10 Years) : Long-term goals require more deliberation,
and in most cases, money. Retirement, buying a house, and funding a child’s
higher education are typical long-term goals.
16.
17. Continue..
Examples of financial goal
• Rs. 1 lakh required after 6 months to buy a car
• Rs. 30 lakhs required after five years for the college admission for child is a
financial goal.
• Retirement
• Emergency Fund
Each Financial goal contains two important components:
1. Goal Value
2. Time to goal or investment horizon
18. Continue..
1. Goal value: The goal value is the amount of money required for
the goal at the time when it has to be met.
2. Time to goal or Investment Horizon: Financial goals may be
short-term, medium-term or long-term. The term to goal refers to the
time remaining for the funds to be made available to meet they
goals.