Scribd Logo
Upload

Welcome to Scribd!

  • 187 views

    Week 5-6 Task 4: Reflection

    Uploaded by

    Rex Magsipoc
    The document discusses principles of financial planning at different stages of life. It emphasizes the importance of budgeting spending, prioritizing needs over wants, and saving money for emergencies and the future. The reflection notes that financial planning, spending wisely, investing money, and working are critical for future security. The author realized they need to fund their money sustainably and learn proper budgeting and investing. They created financial goals of finding stable income, paying off debt, establishing an emergency fund, investing savings, and saving for insurance and retirement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Week 5-6 Task 4: Reflection

    Uploaded by

    Rex Magsipoc
    187 views4 pages
    The document discusses principles of financial planning at different stages of life. It emphasizes the importance of budgeting spending, prioritizing needs over wants, and saving money for emergencies and the future. The reflection notes that financial planning, spending wisely, investing money, and working are critical for future security. The author realized they need to fund their money sustainably and learn proper budgeting and investing. They created financial goals of finding stable income, paying off debt, establishing an emergency fund, investing savings, and saving for insurance and retirement.

    Original Title

    Finance

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses principles of financial planning at different stages of life. It emphasizes the importance of budgeting spending, prioritizing needs over wants, and saving money for emergencies and the future. The reflection notes that financial planning, spending wisely, investing money, and working are critical for future security. The author realized they need to fund their money sustainably and learn proper budgeting and investing. They created financial goals of finding stable income, paying off debt, establishing an emergency fund, investing savings, and saving for insurance and retirement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    187 views4 pages

    Week 5-6 Task 4: Reflection

    Uploaded by

    Rex Magsipoc
    The document discusses principles of financial planning at different stages of life. It emphasizes the importance of budgeting spending, prioritizing needs over wants, and saving money for emergencies and the future. The reflection notes that financial planning, spending wisely, investing money, and working are critical for future security. The author realized they need to fund their money sustainably and learn proper budgeting and investing. They created financial goals of finding stable income, paying off debt, establishing an emergency fund, investing savings, and saving for insurance and retirement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    Week 5-6

    Task 4
    1.)From the principle that was presented, I’ll choose his number one principle because this is the one
    that we can all relate. It says that On spending: “ If you buy things you do not need, soon you will have
    to sell things you need” which means that if we prioritizes the things we want rather than the things we
    need, money will evaporate into thin air and you will literally sell your things to have more funds. If
    people chooses to satisfy the things they want like a one day millionaire, they will be in trouble when
    emergency is there. You will sell your things just to provide for that emergency because you prioritizes
    things that you din need. For example in my own experience, I love buying things in Shoppe because
    sales every month but when my tuition comes, I don’t have money left for it and needs to borrow to
    other people and sell some of my things just to have money for it. That’s why I’ve learned that we need
    to prioritize things we spend.

    Task 6
    The financial philosophy of number one states that “ MONEY SPEAKS ONLY ONE LANGUAGE: IF YOU
    SAVE ME TODAY, I WILL SAVE YOU TOMORROW.” The philosophy talks about that if we do savings and
    save money, we can use it in the future in times of problems and emergency. I totally agree with the
    statement because it is the nature of money. If we know how to invest and save money it will grow in
    the future that we can use in our lifestyle and emergency. This quote should be instill in every Pilipino in
    able to have a future plan and money to use in difficulty.

    Reflection:

    I understand that financial planning, spending, investing and working very critical for our future. People
    can say that money will disappear in our hands quickly, we can avoid it by budgeting and being
    responsible to spending. Also, investing to grow your funds in the future.

    I realized that we need to fund our money to have a sustainable tomorrow. This things are important for
    us to live in the future with security and assurance. Also, I realized that people need to prioritize things
    they need before they want

    I need to learn more about proper and formal budgeting. Because my knowledge is still shallow to the
    deepness of the budgeting topic. Also, I want to learn more about proper investing.

    (Nasa baba po ang task 5)


    Task 5
    Create and Plan my Financial Goals
    and Objectives

    Find a stable Income and money to


    funds the need in the future

    After having the funds pay off your


    debt and plan an emergency fund.

    Invest your money to stock and


    bond market from the money left
    in income left

    Save money for insurance and


    retirement then, live my life at the
    fullest
    Week 7-8
    Task 3
    1.) Early-Thirties to Early-Forties Individuals
    2.) Mid-Sixties and Beyond
    3.) Mid-Fifties Individual
    4.) Mid-Twenties Individuals
    5.) Mid-Fifties Individuals

    Task 4
    After Tax Earnings ₱ 42,000
    Add: Investment income (net of tax) 12,000
    Interest Income 3,500
    Total 57,500
    Less: Living expenses and others 16,500
    School expenses 25,000
    Total 41,500
    Savings for the year 16,000
    Less: Withdrawal from savings 7,000
    Net Savings 9,000
    Add: Savings, beginning of the year 36,000
    Savings, end of the year ₱ 45,000

    Assessment
    1.) B
    2.) A
    3.) A
    4.) A
    5.) B
    Reflection
    I understand that there are cycles of financial planning of life in every people. I learned to
    create budgeting and calculate my saving per year alongside with my expenses and income.
    Also, I learned how to calculate interest and analyse budget status and financial decisions
    I realized that I’ll soon start the first cycle and it is important to learn this topic to have
    knowledge in my future Financial status. This topic gives me some ideas to calculate my future
    financial status and possible financial income/loss.
    I need to know more about investment Income because this will be a big contributor in my
    income in the future. Like it said in the cycle, this will become my assurance in the future until I
    retire plan stage.

    You might also like