financial management :Consumer math f4 16 november

Setting goals

Evaluating financial status

Creating financial plan

Reviewing and revising the progress

All of the above

short term financial goals can be achieved less than 6 months

short term financial goals can be achieved less than a year

long term financial goals usually take more than 3 years

long term financial goals usually more than 10 years

Measurable

Time-bound

Specific

Aim

Fixed expense - dividends

Variable expense - rent

Active income - Allowances

Passive income - allowances

Measurable

Time-bound

Specific

Aim

-800 (Deficit)

1000 (Surplus)

800 (Surplus)

-1000 (Deficit)

RM1111.78

RM1000.78

RM900.00

RM902.78

Puan Hadirah intends to buy a laptop which costs RM3,000 as a birthday gift for her son. Therefore, she plans to save RM300 a month for ten months

Mr Hazry is a teacher with an income of RM3,000 and plans to get married in two years' time. The wedding expenses are estimated to be RM30,000. Therefore, he wants to save RM1,000 a month for a period of two years. Besides that, she also plans to get a loan for the wedding expenses.

Miss Hazwanyza wants to buy a house worth RM200,000 if she has sufficient amount of money

After engaging the expenses

Before engaging the expenses