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PERSONAL FINANCE

Mary Rose M. Virtucio

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PERSONAL FINANCE

Use of the principles and techniques of corporate finance in an individuals money affairs, especially the methods of allocation of financial resources. Its objective is financial security and independence so that an individual or a family can meet expected expenses and withstand monetary emergencies. It involves making prudent financial decisions, budgeting, saving, investing, insurance, tax insurance, tax planning, retirement planning and estate planning.

FINANCIAL PLANNING

Assessment Setting Goals

FIVE STEPS

Creating Plan
Execution Monitoring & Reassessment

PERSONAL FINANCIAL MANAGEMENT

1 2

Savings Investments Budgeting Retirement Planning Estate Planning

3
4 5

SAVINGS

Kill your debt first.

Set savings goals.

Establish a time-frame.

Keep a record of your expenses.

Trim your expenses.

SAVINGS

Reassess your savings goals.

Make a budget.

Stop using credit cards.

Open an interest-bearing savings account.

10 Pay yourself first.

INVESTMENTS

Cut unnecessary expenditures.

Pay off debts completely


Continue working while still healthy

Open a savings account

BUDGETING

TRACKING ACTUAL EXPENSES

KEEP IT SIMPLE

ESTABLISH ESTIMATES FOR MONTHLY EXPENSES

DETERMINE YOUR MONTHLY INCOME

RECORDING REVENUES & EXPENSES IN PERIOD INCURRED

EXPENSES

RETIREMENT PLANS
1 2 3

Social Security Benefits

Personal Savings and Investments

Employer-Sponsored Retirement Plans

ESTATE PLANNING

Involves making plans for the transfer of your estate after death. Your estate is all the property that you own. It can include cash, clothes, jewelry, cars, houses, land, retirement, investment and savings accounts, etc. Estate planning usually has several objectives and goals.

ESTATE PLANNING

WILLS

TRUST

POWER OF ATTORNEY

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Mary Rose M. Virtucio


2010

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