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Q2 W 2 PERSONAL FINANCE Part 2
Q2 W 2 PERSONAL FINANCE Part 2
Checking of
Attendance
Learning Competency
Enumerate
money
management
Learning Objectives :
• Define personal finance.
• Describe the basic personal
finance principles and strategies.
• Show active class participation by
enumerating money
management philosophies
The Philosophy
and Practices in
Personal Finance
Personal Finance
• Personal finance includes all
financial decisions and
activities of an individual
including budgeting,
insurance,mortgage
planning, savings and
retirement planning.
Personal Finance
• It involves analyzing current
financial positions,projecting
short-term and long-term
funding needs, and executing
a plan to fulfill those needs
considering individual
financial constraints
Personal Finance
• It is primarily
dependent on one’s
earnings, cost of living,
and personal goals and
wants
Money Management Philosophy
Personal finance is the process
of planning and managing
personal financial activities such
as income generation, spending,
saving, investing, and protection
as cited from Corporate Finance
Institute.
Planning Ahead
People who want their finances
to be well should consider
making a plan using the following
principal viewpoint:
Planning Ahead
Focus on what matters.
Focus on what you can
control.
Focus on your future.
Personal Finance Principles
1. Prioritization
2. Assessment
3. Restraint
Prioritization
This means that you are aware what is going on
with your finances.
You know the source of your income and you
are doing your best to make the inflow of cash
coming in.
You are continuously looking for additional
income source and you are firm and
determined to keep it flowing in your side.
Assessment