in Personal Planning Tips (Business Finance)

CO2 Presentation
By: Mary May B. Garcia

Prayer
By: Anjele Panaligan
Good Morning,
Class!
Checking of
Attendance
What are the things that we
need to consider in planning
ahead?
In a piece of paper, write the
things that you buy with your
allowance.
When you buy your snacks and
other things, do you have any
factor to consider?
“Other Personal Finance
Planning Tips.”
Activity 1:
Directions: You have a 1000 pesos
allowance for 1 month. Make a
budget or list down the
things/food that you will buy out
of your allowance.
Questions:
1.What are the things you consider in
making your budget?
2.Why did you come up with this budget?
3.Is there any difficulty you encountered
while you were doing the budget?
Device a Budget
A budget is essentially a financial roadmap that
allows anybody to live within their means while
having enough left over to save long –term goals.
Having a budget is the first mandatory step from
which money management will evolve.
50/30/20 Budgeting
Method
50%- of take home pay or net income will be used for living essentials,
such as rent, utilities, groceries, transport.
30% - is allocated to lifestyle expenses, such as bonding with friends,

buying new clothes, and other expenses to reward oneself after working
very hard.
20% - is allocated for the future: paying down obligations and saving both
for retirement and for emergencies.
Create an Emergency Fund
It’s important to ensure money is set aside during “rainy

days” fund like during emergencies or sudden
unemployment. The ideal safety net for this fund is
between three to six months’ worth of living expenses.
Limit Incurring a Liability
Living within the available resources will limit unnecessary
liability or obligations. This will avoid any deviation of the
budget and any adjustment to the planned expenditures. But
incurring obligation to accumulate an asset, like buying a
house on installment rather than renting, is one of the
exemptions to the rule.
Use Credit Cards Wisely
Acquiring credit cards is one of major traps for anyone to get in trouble for recurring obligations.
Another loophole of using credit card is that payment can be done on staggered basis with interest
rate ( monthly rate multiply by 12 months) compared to the prevailing interest rate.
But, if the use of credit is managed correctly by paying the balance on time or at least be kept at
a minimum credit utilization rate, it will work more advantageous than paying and bringing cash all
the time.
Monitor Credit Score
Credit score is built and maintained through credit
cards spending. Monitoring credit score goes hand
in hand with watching credit spending. This is
needed when obtaining an approval for a lease,
mortgage or any other type of financing.
Plan and Save for Retirement
Retirement may seem like another lifetime away, but
it arrives much faster than expected. Based on
suggestions of experts, most people need to save more
or less 80% of their current salary for retirement
purposes. Setting aside money now for retirement
allows it to grow over the long term.
Family Consideration
Preparing for the future considers the family to be left
behind in case of any eventualities. This is to ensure
that assets are protected and meets your family’s needs
through life’s major milestones.
Others are making a will or trust even if they are still
alive to make sure that their wishes will be followed.
Rewarding Oneself
Depriving oneself of the needed break is one of the
consequences of a strict financial budgeting and
planning. However, there is a need to allow some
reasonable rewards to oneself at least once in a while.
It can be a vacation, purchase, or an occasional night in
the town to enjoy the fruits of hard labor.
1.What are the personal finance
planning tips?
2.Which of the personal finance
planning tips do you like most? And
why?
3.If you were given a chance in the
near future, what would be your
finance planning tips?
The students will put the following in their
proper column in the table.
Water bill grocery rice Electric bill

Food insurance Emergency fund
Internet bill Coffee Travel
retirement fund
Get ½ crosswise, answer the following
questions.

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CO2 Presentation

By: Mary May B. Garcia

30% - is allocated to lifestyle expenses, such as bonding with friends,

It’s important to ensure money is set aside during “rainy

Water bill grocery rice Electric bill

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