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  • Chapter 4 Daquil

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    Shaina Daquil
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    The student manages their finances through creating a budget to reduce unnecessary expenses and help their family. Their aunt from abroad provides for their daily needs. They list out fixed expenses like food and gas, and variable expenses like clothing and internet. Needs include food and medicine, while wants are fancy foods and gadgets. Their current budget pie chart shows transportation and electricity bills taking up more than their ideal budget, which allocates more to housing, education, and debt repayment.

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    CHAPTER 4 DAQUIL

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    The student manages their finances through creating a budget to reduce unnecessary expenses and help their family. Their aunt from abroad provides for their daily needs. They list out fixed expenses like food and gas, and variable expenses like clothing and internet. Needs include food and medicine, while wants are fancy foods and gadgets. Their current budget pie chart shows transportation and electricity bills taking up more than their ideal budget, which allocates more to housing, education, and debt repayment.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    5K views3 pages

    Chapter 4 Daquil

    Uploaded by

    Shaina Daquil
    The student manages their finances through creating a budget to reduce unnecessary expenses and help their family. Their aunt from abroad provides for their daily needs. They list out fixed expenses like food and gas, and variable expenses like clothing and internet. Needs include food and medicine, while wants are fancy foods and gadgets. Their current budget pie chart shows transportation and electricity bills taking up more than their ideal budget, which allocates more to housing, education, and debt repayment.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 3

    EXPLORE

    As a student, how do you manage your finances? Where do you get your money to sustain your

    daily needs? What do you do to help your parents when it comes to your expenses?

    The one who sustain my daily needs is my auntie who are working from abroad. So as a student, I
    manage my finances by creating a budget and removing unnecessary expenses. In this way, I can help
    my family by creating budget and managing your needs and wants.

    ELABORATE

    Supply the needed data write/print your answers in an A4 sized bond paper.

    Which expenses are fixed and which are variable? Indicate your monthly total. Put a check mark on the

    corresponding type.

    Monthly total Fixed Variable


    Food ₱1,000 ✔
    Clothing ₱500 ✔
    Gas ₱500 ✔
    Medicine ₱500 ✔
    Internet ₱500 ✔

    Use the table below to list down all the expenses that belong to the needs and those that belong to the

    wants.

    Needs Wants
    Foods Fancy foods
    Medicine Books
    Shelter Bike
    Clothes Cars
    Education Fancy restaurants
    Transportation Jewelries
    Job Gadgets
    How does your current budget pie chart look like? Using the following categories, map your ideal

    budget plan using a pie chart. You may use more categories as needed.

    a. Housing

    b. Electric bills

    c. Internet

    d. Food

    e. Debt

    f. Education

    g. Transportation

    IDEAL BUDGET
    CURRENT BUDGET
    Debt
    Transportation
    Housing
    Electric bills
    Education
    Internet
    Food

    How does your current budget pie chart compare with your ideal budget pie chart?

    As you can see everyone’s pie chart will be a little different. But the “ideal” pie chart I showed above
    might not be quite ideal for you depending on your current situation and future goals. As you can see,
    only about 20% of your pre-tax income should be used for day-to-day spending! This includes things like
    bills, food, clothing and entertainment.
    EVALUATE

    Read the questions and instructions carefully. Write/print your answers in an A4 sized bond paper.

    1. Differentiate among the following financial goals: short-term, medium-term, and long-term

    financial goals. Give example for each.

    Goals Definition Examples


    Short-term A short-term goal is an outcome A great example of short-term
    you want to achieve in 12 goal would look like: “I will
    months or less increase my salary by 10% in
    the next six months"
    Medium-term A medium-term goals may take A great example of medium-
    from two months to three years term goal is becoming a VP in
    to achieve your organization.

    Long-term A long-term goal is something A great example of long-term


    you want to accomplish in the goal is got hired for your dream
    future job.

    2. Interview (via online) at least 10 friends, classmates, and relatives. Explore their financial

    behavior or spending and saving behavior.

    Most of my friends are also a student like me and most of their answers are quite similar to each other.
    As I explore their financial behavior or spending and saving behavior. My first friend said, "As a student I
    don't have much to offer financially. So I always plan to save money as long as I could using my budget
    with a controlled spending for regular or irregular expenses. I spend my money depends on a certain
    situation where my needs overpower my wants. I also spend my money without hesitating for
    emergency purposes." He clearly state that being a student is difficult because we need to set our
    budget when it comes to projects and many more. Meanwhile, my second friend said that she saved her
    allowance from Monday to Friday. She spent her mostly on her projects, assignments and the like. My
    other friend also said to me, "I spend most of my money on food and drinks. I often buy things that I
    don't really need like if I see a shirt that's my size and I have the right amount of money. I don't really
    have a plan on buying things. If I like I will buy it." My friend of mine is rich that's why he's not hesitant
    to buy the things that he wants. Anyway I also interviewed my close friends and first friend told me that
    she is an impulsive buyer and she spend only during monthly sale at Shoppe. Lastly, my second close
    friend share about his financial behavior, he said that he have "Chrometophobia" who have extreme
    fear of money and afraid to spend it and that's where his spending behavior occurs because if he have
    money he'll use it at all cost.

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