BATAAN PENINSULA STATE UNIVERSITY

BALANGA CAMPUS
BALANGA CAMPUS
Don Manuel
Don Manuel Banzon
Banzon Ave.,
Ave. Poblacion,
Poblacion (047) 237-1480
(047) 613-5103
City of
City of Balanga,
Balanga Bataan
Bataan www.bpsu.edu
www.bpsu.edu.ph
2100 Philippines
2100 Philippines
COLLEGE OF BUSINESS AND ACCOUNTANCY Email Address

PERSONAL FINANCE JOURNAL

REFLECTION PAPER FOR THE LESSON 1-7

Presented to the College of Business and Accountancy

Bataan Peninsula State University

In Partial Fulfilment of the

Requirements for the
Degree of Bachelor of Science in Business Administration Major in Marketing Management

DIANNE LAURICE M. RODIS

July 22, 2022

MS. CARINA D. MOISES, MBA

Professor
Reflection Paper (INTRO TO PERSONAL FINANCE & MONEY IN ONE'S LIFE)

Personal Finance was a great class for learning about all things financial money-related. I learned a lot

about how various financial institutions worked, how different concepts of finances worked and how to keep

myself on track with my own financial goals in my life. I have been able to establish a budget, track my spending

and saving, become more aware of investing in different types of investment vehicles, and learn about many other

Things while taking this class. I learned some important lessons I learned during this class. I learned a lot about

investing in different types of stocks, bonds, mutual funds, real estate, and other types of investment vehicles. I

learned about saving and investing and planning for retirement and how to effectively save and prepare for

retirement and my future life through those things.

I also learned about purchasing a new house, a new car, and other large purchases that could potentially

require large sums of money or a loan to acquire them. One of the most important things I learned while taking

personal finances was all about various types of insurance, including auto insurance, life insurance, health

insurance, homeowner’s insurance, and other types of insurance coverage. I learned about what type of coverage

is necessary and what types are not necessary. I learned about how and where to buy different types of insurance

and approximately how much the different types will cost and what kind of coverage you can get depending on

how much you pay. This was very helpful to me and will continue to help me make informed decisions about

insurance and other financial decisions in my life.

One assignment that helped me learn a lot about finances was the stock market 2 assignment. We had to

keep track of the rise and fall of the stock market throughout most of the semester during this class and it was a

very enlightening experience that helped me learn a lot about how the market fluctuates and how stocks work.

The other information that helped me learn a lot was the lecture about insurance information. That opened my

eyes and allowed me to understand what kind of coverage I currently had and what kind I needed. That was a very

eye-opening lecture and set of notes and helped me learn a lot about insurance.
Reflection Paper (FINANCIAL PLANNING)

Financial is a very broad concept and planning is a difficult and disciplined mission. Some key categories

of financial planning include the source of finances, assessment of your financial necessities, calculating the risk

factor, and a plan to achieve your financial goal. Investment plans, retirement plans, tax plans, Business planning,

personal financial planning are some of the sub-types of financial planning. In this e-learning tutorial chapter, we

will understand some of the important types of financial planning which everyone should learn and understand in

their life.

A reflection of the work done to date in this course has given me much clarity on the goals that I wish to

achieve in my life and the directions that I need to take to achieve them. In module three, I was able to start a

financial planning process, in which I was able to determine my current financial situation concerning income,

savings, living expenses, and debts through the utilization of a balance and income statement; financial objectives,

and personal goals sheet. I prepared a list of current asset and debt balances and amounts spent for various items

providing me with a foundation for financial planning activities.

I must be able to reap the cost-benefits of being protected against the financial consequences of the high

cost due to increasing life expectancies and the resultant rise in the chance that you may eventually need some

level of care. In short, creativity in decision-making is vital to effective choices. Therefore, it is essential to

consider all of the possible alternatives that will help you make more efficient and favorable decisions. Moreover,

when life events affect your financial needs, the financial planning process will provide a vehicle for adapting to

those changes.

Even as a teenager, I notice the unreasonable prices of certain items, as well as downright ridiculous deals.

In the financial world, I always need to be aware of deals that are too good to be true, think twice about free give-

away, and compare the prices of items before buying. By doing this, I will minimize my vulnerability to these

scams and will be able to efficiently spend my money so I can get the most out of it.

Many scams now appear online, or as a phone call. More often than not, they require one to provide a lot

of personal information, which can be very dangerous if it is known by random strangers.

Reflection Paper (TIME VALUE OF MONEY)

Believe it or not, many people throughout the years thought that by putting money to the side, under the

mattress, or even in the cookie jar, they would eventually be rich one day. Well not to spoil the surprise but the

years it would take to make one rich by those means are far off and nothing in between. This is where the Time

Value of Money comes in. Time Value of Money is the idea that a peso today is worth more than a peso in the

future, even after the adjustments of inflation, interest rates, and appreciation until the time come for the peso in

the future to be received. Simply stated invest. There are a variety of financial applications of the time value of

money. This paper will identify the different financial applications and components of a discount and interest rate.

The goal is to list various financial applications and explain the components of discount and interest rates.

Time Value of Money to make itself as valuable as possible to stockholders; an enterprise must choose

the best combination of decisions on investment, financing, and dividends. In any economy in which firms have

the time preference, the time value of money is an important concept. Stockholders will pay more for an

investment that promises returns over years 1 to 5 than they will pay for an investment that promises identical

returns for years 6 through 10. Essentially one must determine if future benefits are sufficiently large to justify

current outlays. The development of mathematical tools of the time value of money is important as the first step

towards making capital allocating decisions (Malawi, 2008).

As a student, I learned to value money and spend it correctly because of the lessons my professor discussed

and the situations she said during the discussion. Solving those problems, she will be given I understand how

difficult to earn and calculate the interest that you need to mark up every week or month. So that, if I’m going to

be a business owner or an entrepreneur in the future I surely spend my money and invest it in good terms.

I will pay the interest correctly I owe in the banks and I will hire a financial analyst and financial adviser

so in that case, I will be guided on the right decisions in spending money and value it like my own.
Reflection Paper (MONEY MANAGEMENT TOOLS)

Money management is the process of budgeting, saving, investing, spending, or otherwise overseeing the

cash usage of an individual or group. The predominant use of the phrase in financial markets is that of an

investment professional making investment decisions for large pools of funds, such as mutual funds or pension

plans. It is also referred to as "investment management" and/or "portfolio management". While the term is usually

used for professional money managers, everyone practices some form of investment management with their

finances. There is a wide range of money management services, from the operation of passively-managed mutual

funds with low fees to in-depth estate planning and consulting. (Investopedia.com, 2012).

Saved money doesn't only help you in bad situations. You can also use your savings when the right

opportunity comes and then double, triple or multiply the money. So saving is managing for the future. Money

management lessons say that you should increase both your profits and savings for a better future. Money

management doesn't end every month and begins anew the next month. So to keep a better picture of your money,

you can also take the help of Online Money Management Software that allows smooth entry of all your money

transactions (thefreelibrary.com, 2012).

In money management tools I learned how to manage my money and save for future needs. I also

understand how does money flows and went in everyday life because last year our professor gives us a task to

compute the daily expenses and savings that we have using the Financial Position and Spending Plan. I also

recognize the difference in my spending last month without using any tools and analyzing between the tools and

planning.

And during that time I notice what are the asset and liabilities that I have on my own. Computing the

expenses and my savings made me realize how expensive I am. That’s was a big help to me to improve my

financial knowledge to be thrift in a good way. It teaches me to analyze every simple detail and expense that I

will spend.
Reflection Paper (CREDIT)

Credit is generally defined as a contractual agreement in which a borrower receives something of value

now and agrees to repay the lender at a later date generally with interest. It is also an arrangement that allows

consumers to buy goods and services now and pay them later.

Other people are usually taking some credits in loans and applying to get credit cards for convenience to

them. It is a help to the people who are can’t have the actual cash to pay for the goods and services that they

consumed. But it the other side credit is not a good solution for people who are already broke because having a

credit card can make you tempted to buy something that is not needed but because you just wanted it.

And I also do believe that that we didn’t need to buy and show other people that we can afford luxurious

things be like by them if those things we show are from credit. As a student, I don’t want to have any debt or

credit to someone if I can afford the things that I wanted from own pocket.

Borrowing money that we know that we can’t pay back isn’t the smartest idea but people continue to do

it because they want but can’t afford it. Even people that can afford to pay their credit cards off are upset because

their rates are being changed right before their eyes. In my personal opinion, I think that credit cards should be

eliminated dit card companies have entirely too much power. Money “makes the world go around” and they know

this which is why they sent out credit card applications and offers to homes all across the nation and the naïve fall

for them. If change isn’t made, our national debt will only increase which will make prices of everything increase

which will make taxes increase. Before we know it, we’ll all be part of one broke country.
 Reflection Paper (INVESTMENTS)

As they say, "Money isn't everything, but happiness alone can't keep out the rain." It is often said that

money is not the most important thing in the world. Despite of this, we still need to understand the true value of

money. Money, in and of itself, is not very spectacular. What money can do for you is what is really important.

Money gives you freedom and choices.

What I learned from my investment classes is that investing is important. If you keep your money in your

back pocket instead of investing it, your money doesn't work for you and you will never have more money than

what you save.

If you aren’t comfortable buying individual stocks, low-cost index exchange-traded funds or mutual funds

are fine, too. Whatever method you choose, you must be patient and let time do its work. With the wealth of

information available – in books, newspapers, and websites – anyone can learn to invest. Buying and holding a

portfolio of conservative stocks or funds isn’t hard. What’s hard is tuning out all the distractions – market predictions,

economic headlines, and product pitches – that can throw an investor off course. If you can ignore the noise and stay

invested through good times and bad, you will be amazed at the wealth you can build. Another lesson I learned was

that it’s not necessary to take on a lot of risk in order to generate attractive returns. In life, we’re taught that success

comes to those who work the hardest. With investing, it’s the opposite: the laziest people often reap the biggest

rewards.