GENERAL INSTRUCTIONS: COPYING THE EXACT WORDS FROM THE MODULE

IS CONSIDERED WRONG. I
DON’T CARE ABOUT GRAMMARS OR SPELLING ALL I WANT IS YOUR GENUINE
HONESTY AND
UNDERSTANDING. YOU CAN USE TAGLISH TO EXPRESS YOUR ANSWERS. ��
GOODLUCK !!!!!

I. DISCUSS THE 5 BENEFITS OF PERSONAL FINANCIAL PLANNING.

 Better decisions
 I do believe in “THINK BEFORE YOU CLICK,” You need to know
the difference between wants and needs in order to save your
savings. Applying the concept of critical thinking in Personal
Financial Planning can help to achieve your proper goal.
 Be able to pay less in taxes and interest.
 Paying income taxes is a fact of life. So it helps to know a little
more about how interest income impacts your tax bill. And able to
manage your bills.
 Improve financial well-being.
 Being financially well means you can meet your current and
ongoing financial obligations, feel secure in your financial future,
and are able to make choices that allow you to enjoy life.
 Prepare for financial emergencies
 Live below your means, always include emergency fund to your
savings.
 Save for retirement.
 All of this benefits is about savings for the benefits of yourself if the
times has come and you need to take a break and retire from your
career, always save for the last.
II. GIVE THA 5 STEPS IN PERSONAL FINANCIAL PLANNING PROCESS AND
EXPLAIN EACH STEPS.
 Step 1. Analyze your Current Financial Position.
 It’s about on analyzing your current situation and how can you
change it.
 Step 2. Develop long-term and short-term financial goals
 After determine your current situation its time think your suitable
goal that fit to your situation is it long-term or short-term financial
goal it always depend on you.
  Step 3. Identify and evaluate the alternative strategies for achieving
your goals.
 Setting is easy but achieving it isn’t. Always prefer for plan b, as
many strategies you have the higher the chance you get your goal.
 Step 4. Implement a plan for achieving goals
 Write down your action plan for achieving the goal, being as
specific as possible, you need to trust the process in order you to
move forward toward your goal.
 Step 5. Regularly reevaluate and revise your plan as Necessary.
 As with the review of your planned activity, it is important to set time
aside for this process. Again, it is also helpful to document it,
because this forces you to analyze your reasoning.
III. GIVE AND EXPLAIN THE FACTORS THAT INFLUENCE PERSONAL FINANCIAL
PLANNING.

 Changing the needs over the life cycle.

 Hinde mo naman kailangan agad sumabay sauso as long as it
doesn’t affect your life style. The most important to change is your
needs its either bawasan mo o dadagan mo it depends on what
you need.
 Values and Attitudes
 In short it is about your behavior towards your desire goal.
 Risk
 Risk is everywhere but risk that influence the personal financial
planning is always depends on what you develop the situation.
 Life situation
 As what I said your move always depend on your life situation. May
dalawa lang yang outcome its either change it or maintain it.
 Education
 Education gives you a high impact in life also it can affect your
financial planning if you have the smart mindset to use it.

 Demographic factors
 You have 2 classification of yourself, your past and your present no
its up to you kung I mamaintain mo ang status mo na kinalakihan or
you will make some changes by improving yourself, setting a goal,
find your regular job and live the rest of yourlife.
 Risk takers
 In this situation The risk taker is you and the risk is your expenses
or your bill now to overcome all of this the only things that you
need is to try and try until you succeed. Matatalong sumusubok or
matatalong umaayaw the choice is yours.