Lesson 1: Money

Management
Philosophy
Piggy Bank
 Prioritization
Prioritizing financial goals is essential for effective
planning and ensuring that resources are directed
towards the most important objectives, leading to
financial success and stability.
 Needs vs. Wants
Needs are essential for survival and include things like
food, shelter, and clothing, while wants are non-essential
desires that enhance our quality of life, such as
entertainment, luxury items, or travel.
 What is Personal Finance?
Personal finance refers to the management of money,
including budgeting, saving, investing, and making
financial decisions to achieve financial goals and
secure one's financial future.
 Financial Literacy
Becoming financially literate is important as it
empowers individuals to make informed decisions
about their money, understand financial concepts,
and effectively manage their personal finances,
leading to greater financial stability and success.
Key Principles of Financial Management

01 02
Prioritization Assessment

03
Restraint
 Ten Basic Principles of Financial
Management
1. Organize Your Finances
2. Spend Less Than You Earn
3. Put Your Money to Work
4. Limit Debt to Income-Producing Assets
5. Continuously Educate Yourself
6. Understand Risk
7. Diversification Is Not Just for Investments
8. Maximize Your Employment Benefits
9. Pay Attention to Taxes`
10. Plan for the Unexpected
 Here are some personal finance principles
from Money Boss website.
• You are the boss of you.
• Nobody cares more about your money than you do.
• It's always best to be proactive.
• Saving must be a priority.
• Small amounts matter.
• Large amounts matter more.
• Slow and steady wins the race.
• The perfect is the enemy of the good.
• Action is the cornerstone of success.
• Failure is okay.
Thank You For Listening