PowerPoint Presentation
PRESENTED BY:Nur fatin binti habib 10Dib10F2009Nur farina binti
mohd yusoff10Dib10F2031Siti noorabidah binti walat10Dib10F2032Nur
izzati binti abdul khir10Dib10F2059Nurul ayu fadira binti abdul
hamid 10dib10f2048
PA305AKPKS Personal Financial Management
You are required to provide information based on the matters
listed belowa) Steps in preparing your financial planning b) The
importance of having financial plan
c) Give an illustrate of how of you determine the net cash flow
position ***(use budget and cash flow statement as below)
What is Financial PlanningFinancial planning involves asking
questions about your future, your dreams and goals.
It is thinking about what you want to do in your life, such as
getting married, buying a car or a house, having children and
planning for their education.Step of the financial planningStep of
the Financial PlanningAssess your situation - this is the most
critical step in financial planning - is summarizes where your are
in regards to the cumulative effects of your past financial
decisions. - for example:- income - net worth - cash flow -
insurance policies - tax return - investment portfolios -
retirement plans - employee benefitsb) Identify your goals Be
specific an measurable. For example: - It can be requirement like
buying home, car, child education, child marriage, vacation, and
retirements.Along with this there must be a very clear timeline
associated with the goal.
c) Find a certified financial planner - different planners have
different area of expertise. - the best time to determine what need
in a financial planner is after assess present situation. - it will
help to narrow choice
d) Design a plan - after review of current situation the
financial planner will provide recommendations and solutions. -
these recommendations should be structured to meet financial needs
and may include a budget, a saving plan, a retirement plan and
investments.e) Execute the plan - a financial plan is only
successful if put into action. - financial planner should help and
coordinate efforts to reach a goals and objectives.
f) review, refine and review - a financial plan must be reviewed
regularly. - as a need changes, economy changes and also plan
changes. - a good financial planner should encourage to review plan
and make changes as needed and check on progress.The importance of
having financial planHave more control of your financial affaires
and be able to avoid excessive spending, unmanageable debts,
bankruptcy or dependence on others
Have better personal relationships with people around you,
because you are happy with your life and you are not going around
borrowing money to make ends meet or expecting hand outs from
others.
Have a sense of freedom from financial worries because you have
planned for future, anticipated your expenses and achieved your
personal goals in life.
Be more effective in obtaining, using and protecting your
financial resources throughout your life time.
More information about your future needs and the resources that
you have.
Have peace of mind knowing that you are in control.
The importance of having financial planSituation 1Sazali is an
entrepreneur and had started his own business since the last 2
years. He now has 2 branches in the Northern region and is planning
to open a new branch in Kuala Lumpur. In order to open a new
branch, a meeting shall be organized to seek opinions among the
managements. As a financial officer in one of the northern branch,
you are required to present the branch cash flow position and other
information in the meeting.
New Branch Budget
12THANK YOU!
THE END