Presentation 2024

Financial Management
Focused on Budgeting,
Savings & Bookkeeping
-FAHAD S. HADJI USOPH
Importance of Financial Management
-Financial management is crucial for a healthy and secure life. It allows to
build a safety net for emergencies, plan and achieve your financial goals, and
live a life free from financial stress. Without proper financial management, you
may find yourself struggling to pay bills, dealing with overwhelming debt, and
unable to plan for future.

Why Financial Management Matters

oEstablishes financial security
oCreates a plan for achieving financial goals (e.g., buying a house, saving for
retirement)
oHelps avoid debt and manage emergencies
oProvides peace of mind
What is Saving?
 Saving is essential for building wealth and achieving financial goals. Whether
it's a short-term goal like a new gadget or a long-term goal like retirement,
saving allows to plan for the future and avoid relying on debt. By consistently
saving, can achieve financial dreams and build a secure future In family.
- Saving is setting aside a portion of your income for future use.
- Savings goals can be short-term (e.g., vacation) or long-term (e.g.,
retirement).
- Benefits of saving:
1. Financial security
2. Peace of mind
3. Teaches discipline and goal setting
 What is Budgeting?
A budget is your roadmap to financial success.
It gives a clear picture of your income and expenses,
allowing you to make informed decisions about where you
money goes. By creating and sticking to a budget, can ensure your
spending aligns with priorities and goals. Without a budget, you may find
yourself spending impulsively and struggling to reach your financial goals.
 A budget is a financial plan that tracks your income and expenses.
oHelps you:
1. Allocate your income effectively 2. Monitor spending habits
3. Identify areas to save 4. Achieve financial goals
 Responsibilities of Sellers and
Consumers
oSellers
Provide quality goods and services
Fair pricing
Accurate information about products
Respectful customer service
oConsumers
Sales
Research products and services before buying
Compare prices
Responsible use of credit
Manage finances wisely
Both sellers and consumers have a role to play in
creating a healthy and fair marketplace. Sellers should
provide quality products and services at fair prices,
while consumers should be responsible shoppers who
manage their finances wisely. Responsible behavior
from both sides fosters trust and ensures a smooth and
Sales

positive experience for everyone involved in a financial

transaction.
 How to Improve Livelihood
(Responsibilities)
oTake responsibility for your financial well-being.
oEducate yourself about personal finance.
oSet financial goals and create a plan to achieve them.

The key to improving your livelihood starts with taking responsibility

for your finances. Educate yourself about personal finance concepts, set
realistic financial goals, and create a plan to achieve them. By taking
charge of your money, you'll be well on your way to a more prosperous
future. Don't be afraid to seek advice from financial professionals or
attend workshops to gain a deeper understanding of managing your money
effectively.
 How to Improve Livelihood (Trust &
Respect)
oHonesty and transparency are key.
oFulfill financial obligations on time.
oOpen communication about financial goals and concerns.
o
BuildingRespectful communication
trust in financial regarding
relationships financial
is essential, decisions.
whether it's with a bank, a
roommate sharing bills, or a spouse. Honesty and transparency are paramount. Be
upfront about your financial situation and goals. Likewise, financial institutions should
provide clear information about fees and terms. Meeting your financial obligations on
time, such as loan payments or rent, demonstrates reliability. Open communication is
also crucial. Discuss your financial goals and concerns with your partner or financial
advisor. Actively listen to their perspectives and work together to make informed
decisions. By fostering respectful communication and prioritizing shared financial
goals, you can build strong and trusting financial relationships.
 a :
ul
r m Budgesting basics: the 50-30-20 rule
F o
g s -The 50-30-20 rule recommends putting 50% of your money

v in toward needs, 30% toward wants, and 20% toward savings. The
Sa savings category also includes money you will need to realize
your future goals.

• Formula: Income - Expenses = Savings

• Explanation: The savings formula is a simple equation that outlines how much
money you're able to save based on your income and expenses. By subtracting
your expenses from your income, you determine the amount you can
allocate towards savings.
Managing Financial and
Bookkeeping Records
•Organize Documents: Keep all financial documents such as
receipts, bills, and bank statements organized and easily accessible.
•Use Accounting Software: Utilize accounting software like QuickBooks or
Wave to streamline bookkeeping processes and accurately track income,
expenses, and savings.
•Create Budgets: Develop budgets to plan and allocate your finances
effectively, ensuring that you prioritize saving within your financial plan.
•Regular Reviews: Regularly review your financial records to identify areas
for improvement, track progress towards savings goals, and make
adjustments as necessary.
THANK YOU
FAHAD S. HADJI USOPH
0995-372-8769
fahadalonto8@gmail.com
Frame Alonto
9711, ILIAN, Marantao, Lanao Del
Sur, BARMM, Philippines