Money Management

Philosophy

Presented by ABM 12
ZOBEL – GROUP 4
LET’S HAVE A WARM UP
ACTIVITY!
Chink
Positive! y l a n o s r e p u
t 9 e g 1 p o t i e
u 7 p l o r t n o c
o 3 l i a r s 3 u n
w r a d 4 o d b c a
m u i y m o n e y n
q l p t a l q m o i
a e t r n e n i o f
Chink
Positive! y l a n o s r e p u
t 9 e g 1 p o t i e
u 7 p l o r t n o c
o 3 l i a r s 3 u n
w r a d 4 o d b c a
m u i y m o n e y n
q l p t a l q m o i
a e t r n e n i o f
CHINKEE TAN’S MONEY PHILOSOPIES

1. “We make things happen”

THE 97-3% RULE, Mañana habit
2. “We find ways”
HINDI KO ALAM, AALAMIN KO!
3. “We are the solution”
4. “Take control of your finances
rather than your finances taking
control of you”
WHAT IS MONEY MANAGEMENT PHILOSOPHY?
WHAT IS MONEY MANAGEMENT PHILOSOPHY?

There exist numerous philosophies applicable

to managing finances. Those who dedicate
time to plan a money management strategy
often achieve financial success. Those who fail
to plan, most likely are the ones who are in
need of money.
WHAT IS MONEY MANAGEMENT PHILOSOPHY?

Money management philosophy refers to an

individual or entity's approach, principles, and
strategies regarding the handling, allocation, and
utilization of financial resources. It involves
making deliberate choices about how to earn,
spend, save, invest, and budget money based on
personal values, goals, and circumstances
HOW TO APPLY YOUR MONEY MANAGEMENT
PHILOSOPHIES?
HOW TO APPLY YOUR MONEY MANAGEMENT
PHILOSOPHIES?

First you need to understand what Personal

Finance is!

LET’S TEST YOUR FINANCIAL PRINCIPLES

BY PLAYING WOULD YOU RATHER!
HOW TO APPLY YOUR MONEY MANAGEMENT
PHILOSOPHIES?

Would you rather…

“start a business with high risk and uncertain profit ” OR
“pursue a stable job with limited financial growth”
HOW TO APPLY YOUR MONEY MANAGEMENT
PHILOSOPHIES?

Would you rather…

“start a business with high risk and uncertain profit ” OR
“pursue a stable job with limited financial growth”

Would you rather…

“live in a house with good location but high living costs ” OR
“in a less desirable area house but with lower living costs ”
HOW TO APPLY YOUR MONEY MANAGEMENT
PHILOSOPHIES?

Personal finance is the science of managing

money. It deals with all financial decisions and
activities of an individual or household like the
practices of earning, saving, investing and
spending.
HOW TO APPLY YOUR MONEY MANAGEMENT
PHILOSOPHIES?

The process of personal finance includes the

purchasing of products and services, either in cash
or credit cards, protecting life and home through
insurance, borrowing money by using owned
property as mortgage and various investments of
excess funds through any investment instruments.
HOW TO APPLY YOUR MONEY MANAGEMENT
PHILOSOPHIES?

Opening a bank account either checking

or savings account is also considered a
part of personal finance as well as buying
online and mobile payment services.
HOW TO APPLY YOUR
MONEY MANAGEMENT
PHILOSOPHIES?

The Piggy Bank is

the perfect symbol
for personal finance
in your early years.
HOW TO APPLY YOUR MONEY MANAGEMENT
PHILOSOPHIES?

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
MONEY SCRIPT
WHAT IS MONEY SCRIPT?
Money script are the unconscious beliefs about
money. They demonstrate your belief system
about money and can illuminate both good and
bad financial habits you’ve developed over the
years. Knowing your money script can empower
you to make actual, tactical changes to your
financial life.
WHAT IS MONEY SCRIPT?

There are Four Main Types of Money

Scripts
WHAT IS MONEY SCRIPT?

There are Four Main Types of Money

Scripts
• Money Avoidance
MONEY AVOIDANCE
• Money is the root of evil
• The rich are bad and greedy
• There is virtue in living with
less money
• I do not deserve money
• When you're rich, you cannot
trust other people’s intention
WHAT IS MONEY SCRIPT?

There are Four Main Types of Money

Scripts
• Money Avoidance
• Money Worship
MONEY WORSHIP
• Money is #1 in your life
• Money is the cure to everything
• More money = More Happiness
• Money is power
• Other people wants to take my
money so I can’t trust them
WHAT IS MONEY SCRIPT?

There are Four Main Types of Money

Scripts
• Money Avoidance
• Money Worship
• Money Status
MONEY STATUS
• Your self-worth = your salary
• People are only as successful
or as significant to the amount
of money that they earn
• If it’s not “the best” it is
not worth buying
• The most destructive script
WHAT IS MONEY SCRIPT?

There are Four Main Types of Money

Scripts
• Money Avoidance
• Money Worship
• Money Status
• Money Vigilance
MONEY VIGILANCE
• You are careful with your money
• You know the importance of not
having debt
• Save, Save, Save
• You don’t overspend on yourself
• It’s not polite to talk about
money or brag about it