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Personal Finances: Presented by

The document discusses the importance of personal finance management. It explains that personal finances refer to how individuals and families manage and administer their money, income, expenses, savings, investments, loans, etc. Without knowledge of how to invest or spend money wisely, it can be difficult to manage resources, as expenses often exceed income. Proper money management includes creating a budget to understand income versus expenses, and assigning savings for unexpected costs, education, retirement, or other goals to improve future quality of life. The document recommends starting personal finance planning now through budgeting, savings, and disciplined management of resources.

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CAMILA
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20 views6 pages

Personal Finances: Presented by

The document discusses the importance of personal finance management. It explains that personal finances refer to how individuals and families manage and administer their money, income, expenses, savings, investments, loans, etc. Without knowledge of how to invest or spend money wisely, it can be difficult to manage resources, as expenses often exceed income. Proper money management includes creating a budget to understand income versus expenses, and assigning savings for unexpected costs, education, retirement, or other goals to improve future quality of life. The document recommends starting personal finance planning now through budgeting, savings, and disciplined management of resources.

Uploaded by

CAMILA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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PERSONAL

FINANCES

PRESENTED BY

CAMILA MARIN
3 Bathrooms

DANIELA CORREDOR
CLAUDIA RODRIGUEZ

Swimming Pool
WHEN TALKING ABOUT FINANCES, ORDINARY

PEOPLE COULD THINK THAT IT HAS TO DO

ONLY WITH BANKS, COMPANIES, STOKE

EXCHANGE OR ORGANIZATIONS THAT DAILY

TRANSFER LARGE AMOUNTS OF MONEY, BUT

THIS IS NOT TOTALLY TRUE.  FINANCE REFERS

TO THE STUDY OF TRANSACTIONS, MONEY

MANAGEMENT AND GOODS AMONG

DIFFERENT ORGANIZATIONS SUCH AS

GOVERNMENTS, COMPANIES AND

INDIVIDUALS. PERSONAL FINANCES, ON THE

OTHER HAND, ARE RELATED TO THE

MANAGEMENT AND ADMINISTRATION OF

MONEY AND GOODS OF A PERSON OR A

FAMILY, THAT IS, THE MANAGEMENT OF ALL

YOUR MONEY: YOUR INCOME, YOUR

EXPENSES, PHYSICAL GOODS, SAVINGS

FUNDS, INVESTMENT FUNDS, INSURANCE,

LOANS, ETC
WHEN WE DO NOT HAVE THE KNOWLEDGE OF HOW TO

INVEST OR SPEND OUR MONEY, IT COULD BE MORE

DIFFICULT TO MANAGE OUR RESOURCES SINCE WE USUALLY

SPEND MORE THAN WHAT COMES INTO OUR OWN POCKET.

THAT'S WHY WE FIND OURSELVES WITHOUT MONEY TO

COVER THE EXPENSES AT THE END OF THE FORTNIGHTLY OR

A MONTHLY PAYMENT, COLLOQUIALLY “TO BE ON A TIGHT

BUDGET”.

IT IS IMPORTANT TO RAISE AWARENESS OF OUR MONEY

MANAGEMENT, OF HOW WE ARE INVESTING OUR INCOME, IN

ORDER TO CREATE A SAVING CULTURE TO BE ABLE TO FOR

EXAMPLE GET EDUCATION FOR ONESELF OR FOR OUR

CHILDREN, TO COVER EXTRA EXPENSES THAT MAY ARISE, TO

PLAN AN ECONOMIC STABILITY FOR OUR OLD AGE , TO PLAN

VACATION OR RECREATION OPPORTUNITIES, THAT IS, ANY

ALTERNATIVE THAT IMPROVES OUR QUALITY OF LIFE IN THE

FUTURE.
THEN, WHAT TO DO?

WE COULD START BY MAKING AN INCOME AND

EXPENSES BUDGET. A LIST OF OUR MONTHLY

EXPENSES, THAT IS, WHAT WE SPEND WITH OUR

SALARY: FOOD, TRANSPORTATION, HOUSING,

EDUCATION, ENTERTAINMENT, ETC. COMPARED

WITH OUR INCOME. THE PURPOSE IS, TO ADJUST

THESE EXPENSES SO THAT WHEN ADDING UP THE

TOTAL, THESE DO NOT EXCEED THE INCOME. IN

THIS WAY WE CAN ASSIGN PART OF OUR BUDGET

FOR SAVINGS. THOSE SAVINGS COULD BE USED

FOR SEVERAL PURPOSES; FOR EXAMPLE, FOR

UNEXPECTED OR EXTRA EXPENSES, FOR PERSONAL

STUDIES OR FOR OUR CHILDREN, TO CREATE A

BUSINESS OF OUR OWN, FOR HOUSING IF


NOT PROVIDED, TO GET FINANCIAL SUPPORT IN

CASE OF BECOMING UNEMPLOYED OR IN CASE OF

A DIFFICULT ILLNESS.

THERE ARE SAVING ALTERNATIVES IN BANKS AND

ORGANIZATIONS SUCH AS CDTS, TRUST

ACCOUNTS, STOCKS, AMONG OTHERS. AS WELL AS

SAVING FUNDS BY SOME COMPANIES WHERE,

PRIOR AUTHORIZATION, A PART OF OUR PAYROLL IS

DISCOUNTED FOR SAVINGS.

 IF WE HAVE NOT PLANNED OUR PERSONAL

FINANCES YET, LET'S START NOW, WE CAN HAVE A

BETTER MANAGEMENT OF OUR INCOME, AND IN

THIS WAY TO ASSIGN, IF WE HAVE NOT DONE IT

YET, A PART OF THAT INCOME TO SAVINGS. AS ANY

GOAL WE WISH TO ACHIEVE IN OUR LIVES, WE

NEED TO BE CONSTANT, DISCIPLINED AND

ORGANIZED SO THAT WE CAN OPTIMIZE THE


RESOURCES IN OUR HANDS AND HAVE FINANCIAL

SOLVENCY FOR THE LAST DAYS OF OUR LIVES, ALSO,

TO BE ECONOMICALLY INDEPENDENT , TO BE ABLE TO

HELP OUR FAMILIES WITH EDUCATION AND WHY NOT,

TO BE ABLE TO ENJOY, TRAVELING OR HAVING

RECREATIONAL OR LEISURE SPACES IN OUR LIFE.

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