My takes on the video

 There are people who is good and bad when it comes to handling their own personal
finances, in the man’s case on the video, he had told his story about how bad he is with
money, and that he was always spending the money that he worked hard for, I know a
lot of people who is constantly buying things that wasn’t even necessary, most of that
people are the fresh graduates, I think it is mainly because of the excitement of
receiving a paycheck after graduating, they didn’t even think of saving because they
wanted to buy something that they can’t afford when they are still studying.

 As per the video, he came to the realization that he needed to make a change, and that
he couldn't just pretend like he wasn't in massive trouble, although it is very challenging
for him and we know how tempting to buy the things he wanted but he changed his
mindset and was able to pay off every single student loan even that car payment, he
stated that minimalism has helped him, but what was that mean? Minimalism can be
defined as simplicity or not being extra and by means of not being extra, not spending
too much money for the things that are not need, he also said that there's a basic
formula to win at personal finance and It is the Spend less money than you make, which
I think is a difficult thing to do for some people especially those who have family or
below minimum wage salaries, It can be done for some people who have no financial
responsibility for their families and people who earn above the minimum wage salaries,
but regardless of the pay or salaries we receive, it’s a very wise thing to save and
prioritize saving money.

 Another thing that I learned from the video is that “one of the reasons that we're bad
with money is because money is taboo, We can't even talk about it with coworkers with
family members without people feeling judged or downright Offended” which is really
true, I remember one time I tried to say something to a man about how it’s important to
save money at a very young age, but he just brushed me off and said that I was not in
the position to tell him that because I haven’t had a job yet and I don’t know how It
feels, you see? People didn’t want to talk about it. As per the video “we can only
improve if we start to have honest conversations About money, we need to remove our
egos and actually try to learn” The man that told me to shut my mouth for trying to call
him out about his financial problems a couple of years ago still don’t have the financial
freedom and still living with his mom and being called out a failure.

 As per the video”, “Don't fall into the trap of lifestyle creep” Whenever we get a pay
raise or we start to make a little bit more money or We land a really big project. If we
stopped spending money for our expensive lifestyle, we’re going to be able to live a lot
more comfortably and we're going to have so much more security than if we continue to
increase our Lifestyle every year, let's be honest. We buy a ton of THINGS, and we
convince ourselves most of the time and I know some of us including me spent some
money if we remind ourselves we deserve this kind of reward for ourselves, but the
truth of the matter is that what we deserve is to be debt-free? And not be affected by
the social media and influenced by Rich people who have designer bags, expensive
cosmetics etc. The bottom line of the video is having self-control and to be able to save
and be debt free, some of the people I know buy a lot of useless things after a paycheck
and then after that they will ask someone to lend them money because they ran out of
budget, if I receive my first paycheck, I will surely remember this and manage my
personal finance responsibly.

My own definition of Personal Finance

o It is the responsible o Personal finances can also be

handling, managing,
organizing, spending,
and budgeting of a
person's finance
defined as setting a short- and
long-term financial goals.
Short term goal because when
you manage your finances
responsibly, a person can
budget and save for
emergency situations, and
avoid having debt as well,
while long term goal because
a person can save for a
retirement or maybe open a
business.
Student Name: Ramirez, Jennifer J. / BSBA-MM4
Professor: Mr. Juanito C. Revaula
Subject: Personal Finance