Name: Ian Joseph Villavicencio Subject: Personal Finance 1

Year and Course: BSBA-2 Midterms Exam

Reflection Paper
Some people are fortunate enough to learn the financial keys to success at
home, from knowledgeable friends, and from the best expert-written books. But how
about others? So, we need to be taught on how to improve ourselves in terms of
financing. In order to learn this, we need to know or determine what is assets, liabilities
and and net worth.
This gives me help to understand more about my financial health. There are bad
and good debt that we need to control for us not to over use borrowed money or loans. 
We people sometimes being greedy for wanting more and more. Sometimes this is
because of influence in social media and envy. We should control ourselves in
something we actually don’t need just to fit in trend.
Instead of jealousy we should focus ourselves establishing and achieving goals
in life. Working hard to have better life and to be wealthy sooner. This goal needs
discipline, setting and prioritizing what is more needed specially in spending money. We
need to control ourselves, save money for unexpected events or emergency, make a
small business to start and should save for educational needs, especially now a days,
everything increases(price).
Like I said save money. Saving money is a big help for unexpected events, it also
helps us to lower our debt. When saving be careful to leave
yourself enough of an emergency cushion. When you have savings, this avoids you to
borrow money that may have a big interest.