MANAGING MY

FINANCES

OUTLI
NE
Reasons for Working
Abroad
II.
Steps to Financial Freedom
I.
Plan
II.
Save
III. Invest/Business
I.

Reasons for Working Abroad

To earn a bigger income

To send children to school

To build a house

Reasons for Working Abroad

To support the family

To achieve financial
independence
To save for the future

To invest / set up own

business

Reasons for Working Abroad

For self-development

To travel and see other places

Steps to Financial
Freedom
3
2

Save
1

Plan

Invest

3
2
1

Plan

Step 1: PLAN
Set Family Goals

Family goals are usually centered on the f

a.
b.
c.
d.
e.

Education
Housing
Health
Retirement
Protection/preparedness against
unforeseen events
f. Savings & Investment

Step 1: PLAN
Set Family Goals
Tips on How to Set-up Family
Goals

Set family goals

together
Discuss and
determine how each
member will
contribute to
achieving family goals

Tips on How to Set-up Family

Goals

You may start by answering the following quest

What are the goals of the family?

Education, house, business

Who must participate to achieve these goals?

How can each family member help to achieve these
goals?

Your Financial Time Line

IMMEDIATELY 2 years

10 years

Graduation Fund
Build Dream
for Child 1
House
(P 50 K)
(P 5 Mn.)
Funds for
Business
Undertaking
(P 100 K)

20 years

TIMELINE
TIMELINE
Retiremen
LIFE
t
Fund
GOALS

Create a timeline on when you want it to

happen
Specify amount needed

(P 1 Mn.)

Steps to Financial
Freedom
3
2

Save
1

Plan

Step 2: SAVE
Know the Right Formula
for Saving
INCOME EXPENSES =
SAVINGS

30,000 .00 30,000.00 =

0.00

Step 2: SAVE
Know the Right Formula
for Saving
INCOME EXPENSES =
UTANG

30,000 .00 40,000.00 =

-10,000.00

Step 2: SAVE
Know the Right Formula
for Saving
INCOME SAVINGS =
EXPENSES

30,000 .00 5,000.00 =

25,000.00

Step 2: SAVE
Know the Right Formula
for Saving

Save at least 20% of your income!

You should have a FIX and
REGULAR Savings!
Pay yourself first SAVE!
Put savings
first!

Why Families are not

able to Save

Dependency on family member working

overseas
Procrastination delaying savings, putting
savings on a later time
Other family issues that drain resources
Early marriage, Family break-up,
Lack of interest in school, Personal
problems, vices
Luxurious lifestyle (wants vs needs)
Lack of financial literacy

Prioritize Needs over

Wants

Needs necessary to live

Food, shelter, education, medicine

Wants not necessary but we desire to have

Electronic gadgets (cell phones), travelling, unnecessary

shopping

Steps to Financial
Freedom
3
2

Save
1

Plan

Invest

Step 3: INVEST / BUSINESS

Make your money work for
you

Invest your savings in moneymaking assets.

LOWER YIELD BUT
GUARANTEED
RETURN
ON PRINCIPAL
Savings Deposit
Time Deposit
Treasury Bills
Retails Treasury Bonds

HIGHER YIELD BUT NO

GUARANTEED RETURN
ON PRINCIPAL
Mutual Funds
Unit Investment Trust Funds
Stocks/Stock Market
Insurance
Real Estate

Step 3: INVEST / BUSINESS

Make your money work for
you

Use your savings in putting up a

business.
Use your assets as collateral to a
business loan.

Steps to Financial
Freedom
3
2

Invest

Save
1

Plan

Where are
you now?
Where do you want
to be in the future?

PERANG PADALA, BIGYAN NG HALAG

TIPIRIN, PALAGUIN, AT PAGYAMANI

PARA MAGANDA KINABUKASAN NAT

End.
Thank You.