BACHELOR OF BUSINESS ADMINISTRATION

(INVESTMENT MANAGEMENT) (HONS)

PERSONAL FINANCIAL PLANNING (FIN533)

INDIVIDUAL ASSIGNMENT

(FAMILY’S FINANCIAL PLANNING)

PREPARED BY:
NAME: SYED HAKEEM BIN SYED
PUTRA JAMALLULAIL
GROUP: BA251 2C
STUDENT ID: 2022978197

PREPARED FOR:
MADAM ROHANIZAH MD LAZAN

SUBMISSION DATE: 19th MAY 2022

 Table Of Content
Acknowledgement • Page 3

Family Biodata • Page 4

Monthly expenses in 2021 • Page 6-7

Balance sheet statement • page 8-9

Cash flow statement • page 10-11

Ratios • page 12-13

Income tax year assessment 2020 • page 14-15

Comment and advice page 16-17

Covid-19 affects family's financial planning • page 18

Recommendations • page 19-

20
 A ckno wledg em ent

First and foremost, I want to express my deepest gratitude to Allah S.W.T. for
giving me the energy, power, and best health to continue being here finishing up
on this individual assignment.

I would also like to thank you to Madam Rohanizah for giving me the opportunity
to do the individual assignment report in which we are required to do our family
financial planning. During the process, I have come across great knowledge and
new information regarding how to manage my own family financial wise. I want to
express my deepest appreciation to you madam for teaching us on how to
understand all about the taxes and more.

Last but not least, I would like to thank all of my classmate for always being there
for each other and helping one another even though everyone is busy with their
daily life, they always find time to help out where they can.
 F AMI LY BI ODA TA

Mr Syed Putra Jamallulail Bin Syed Ismail is working as a Senior Manager

in a paint company which is called Seamaster which is located in Shah Alam,
Selangor. This year he is 57 years old and married to Arina Binti Yahaya who is
younger compared to him about 3 years which comes to 54. His wife is a fulltime
housewife so Mr. Syed Putra has been supporting the family as sole breadwinner
of the family and earns RM10,500 monthly. He also paid EPF and income tax from
his gross salary.

Mr Syed Putra & Mrs Arina have been married for almost 30 years now and
are blessed with two children, a son and a daughter which is a fair one to one. His
son named Syed Hakeem Bin Syed Putra Jamallulail is 21 years old and currently
is taking his degree at UITM SEGAMAT.. His daughter on the other hand,
Sharifah Hayani Binti Syed Putra Jamallulail, 29 years old, is working as an
accountant at a Company selling baby goods. Mr. Syed Putra family lives at
Subanh Jaya, Selangor and living in a double storey house with his wife and his
cheerful chilldren. Mr. Zabidi bought the house in 2003 and has been living there
with his family for almost 18 years already. Besides, he also owns two car which is
Perodua MYVI and Naza CITRA. Myvi is his daily comute to work and the citra is
the car that he bought for his wife just incase if she need to go and get the grocery
also the car is shared with his daughter which she use to go to work.In a nutshell,
Mr, Syed Putra and family are my own family so I’m very happy that I can help
my family as their financial planner.
 MON THLY EX P ENS ES 2021

Monthly Expenses January February March April May June July August September October November Decemb
er
RM RM RM RM RM RM RM RM RM RM RM RM
Electricity and water 350 350 350 350 350 350 350 350 350 350 350 350
bill
Telephone bill 150 150 150 150 150 150 150 150 150 150 150 150
Groceries 450 450 450 450 450 450 450 450 450 450 450 450
Fuel 200 200 200 200 200 200 200 200 200 200 200 200
Household - - 850 - - - - - - - 2250 -
appliances

Car insurance and - - - - - - - - - - 800 -

roadtax
Car maintenance - - 450 - - - 250 - - - - -
Clothing expenses - - - 250 - - - - - - 600 -
Children expenses 250 250 250 250 250 250 250 250 250 250 250 250
 Son university - - - - - - 748 - - - - -
fees
Medical insurance 180 180 180 180 180 180 180 180 180 180 180 180
for spouse and
children
Personal life 100 100 100 100 100 100 100 100 100 100 100 100
insurance (Mr.
Syed Putra)
Zakat - - 1200 - - - - - - - - -
Income tax 1428 1428 1428 1428 1428 1428 1428 1428 1428 1428 1428 1428
EPF 1155 1155 1155 1155 1155 1155 1155 1155 1155 1155 1155 1155

Monthly installment 400 400 400 400 400 400 400 400 400 400 400 400
on Perodua MYVI
Total monthly 4674 4674 7174 4924 4674 4674 5672 4674 4674 4674 8324 4674
expenses
 B AL A N C E S HE E T S T AT E M E NT
Mr. Zabidi’s family balance sheet as at 31 Dec 2021
Assets RM RM Liabilities RM RM
Liquid assets Current liabilities
Cash on hand 500 Credit card 5000
Savings account balance 45000 Total current liabilities 5000

Total liquid assets 45500 Non-current liabilities

Perodua Myvi loan 40500
balance
Lifestyle assets Total non-current 40500
liabilities
Market value of Perodua 54000
Myvi

Household appliances 8600

Clothing 6000
Total lifestyle assets 68600

Investment assets
Tabung Haji savings 12000
account balance
Total investment assets 12000 Total liabilities 45500
Net worth 60600
Total assets 106100 Total liabilities and Net 106100
Worth
 Total
Total
Assets Net Worth
Liabilities
RM
RM 45500 RM 60600
106100

Based on the balance sheet as at 31 December 2021, Mr. Zabidi’s family amount of
total assets is RM 106100. The liquid asset are cash on hand, and balance in savings
account are RM 25500 in total. Next, for the lifestyle assets, it has the highest amount
under assets which is RM 68600 that consist of a Honda BRV car with loan balance of
RM 40500 from the purchased price RM54000. Mr. Zabidi has fully paid and settledthe
payment of loan for the house in the year 2017 with the purchase price RM 166750that
located at Parit Buntar, Perak. The household appliance is amounted RM 8600 while
the clothing value owned by this family is RM 6000.

Next, Mr. Zabidi has savings at Tabung Haji for emergency purposes. The current
liabilities of Mr. Zabidi are only consist of credit card so the total amount for current
liabilities is only RM 5000 while non-current liabilities that only has loan balance for
Honda BRV car is RM 40500.
The following table below shows the details of the loans balance:

PERODUA MYVI
(RM)
Purchased price 54000
Down payment 6500
Loan balance 40500
Interest rate 2.74%
Tenure/months 5 years/ 60 months
Total loan 47500
Annual installment 4800
Outstanding tenure 3 years /36 months
Outstanding balance 40868
 C ASH FLO W S TA TEMENT
Mr. Zabidi’s cash flow statement for the year ended 31 December 2021
Income: RM
Salary (10500x12) 126000
Bonus 565
Total income: 126565

Less: Expenses
Monthly installment on Perodua MYVI car (400x12) 4800
Electricity and water bills (350x12) 4200
Telephone bills (150x12) 1800
Groceries (450x12) 5400
Fuel (200x12) 2400
Household appliances 3100
Car insurance and roadtax 800
Car maintenance 700
Clothing expenses 850
Children expenses (250x12) 3000
Son university fees 748
Medical insurance for spouse and children (180x12) 2160
Life insurance for personal (100x12) 1200
Zakat 1200
Income tax (1428x12) 17136
EPF (1155x12) 13860
Total expenses: 47838
Contribution to savings (Net income) 78727
 BONUS
TOTAL INCOME 5%

SALARY
95%

Based on the pie chart above, the main income of Mr. Syed Putra and his family is 95%
depends on his salary with total RM 126525 per annum since Mr. Syed Putra is the sole
breadwinner and earns RM 10500 per month. He also gets bonus 5% from his salary
per year
 RATIOS

Liquid assets to
Debt service
take-home pay Current ratio Debt ratio
coverage ratio
ratio
 IN COME TAX YEA R ASS ESSM EN T
2 02 0
Mr. Zabidi’s income tax for the year assessment 2020
Aggregate income: RM
Salary 79200
Add:
Bonus 300
Total income: 79500
Less:
Donation 200
Total assessable income: 79300

Reliefs:
Individual 9000
Wife 4000
Children:
Nur Afifah 8000
Nur Aqilah 8000
Life insurance for personal 1200
Medical insurance for spouse and children 2160
EPF 4000
Total reliefs: 36360

Chargeable income: 42940

A

Tax rate:
First 35000 600
Next 7940x8% 635.2
Gross tax payable: 1235.2

Tax rebate:
Zakat 1200

Net tax payable: 352

Less: Tax deduction 1488
Total rebate (1136)

Net tax refund: (1136)

 G e t r ead y for a

CELEBRATION
Nov emb er 26, 20xx a t 7 P M

J o in us in ce lebr a ting
th e f all h arve s t w ith fr iend s,
food , and mor e!
 G e t r ead y for a

CELEBRATION
Nov emb er 26, 20xx a t 7 P M

J o in us in ce lebr a ting
th e f all h arve s t w ith fr iend s,
food , and mor e!