Name: Lalaine P.

Espina Professor: Sir Rodjard Paro

Subject: ACCBP100 (164)

Reflect on a significant financial decision you've made in your personal life, such as an investment,
major purchase, debt management strategy, etc.:

A. Describe the decision-making process you followed, the factors that influenced your choice, and the
outcome of your decision.
- There was a time when I bought a dress that was very expensive and it was really pretty. When I saw
the price of the dress, I was very hesitant whether I am going to buy it or not but in the end, I still bough
it because I considered these following factors:
 Is it within the budget?
 Is it worth the price?
 Is the dress durable or of high quality?
 Will the dress sustain for a long period of time?
 WilI I be able to wear this dress frequently?
By considering this factors, I was able to make a decision which is purchasing the product. I was able to
deem that the dress will be worth for me to buy since by considering those factors.

B. Analyze this decision in the context of personal finance principles and discuss what you've learned
from this experience.
- Based from personal finance principles and my experience, I learned that it is good to know first how
much is your money because you can’t purchase something without knowing whether you have the
capacity to pay for it. Also, it is good to allocate or divide your money, for example, you will divide
your money into 2, money for expenses and money for saving. It is not good to spend all your money
into buying stuff, you should always have money left for saving or for emergency.

C. How would you advise others on making sound financial decisions based on your own personal
finance journey?
- I would advise them by telling them that we should always be wise when we spend our money, we
should always consider many factors such as the quality of the product or services, is it worth spending
our money on this, and etc. Also, we should cherish our money since money is not earned easily, we
only earn money after we worked really hard for it that is why we should aim to spend it more wisely
and not spend it all in one go so that we will not waste our effort and hard work in earning our money.