Personal finance management

What is financial management?

Managing finances involves using them ................. to achieve firm or individual goals.

• the art of managing money

• various economic theories

• and accounting information

• the science of managing finances

The following are among the former Ministers of Finance of Malaysia EXCEPT

• Tun H. S. Lee

• Tengku Razaleigh Hamzah

• Datuk Seri Anwar Ibrahim

• Dato' Saifuddin Abdullah

Who is responsible for managing matters related to investment?

• Bank-bank merchant

• Stock brokerage company

• Trust stock management company

What are the steps to manage money wisely and systematically?

• Spend as you wish

• Variable sources of income

• Have financial goals

• Save before shopping

The following are advantages of financial management EXCEPT

• Make sure you have enough money

• Avoiding waste

• Parents will feel happy

• Reduce dependence on others

Analogy Ahmad and Ali get a daily salary of RM50.00 each. Every day, Ahmad will spend RM15.00 on his daily needs including food and oil. The remaining amount of RM35.00 will be kept for future use. Ali will spend RM40.00 every day to satisfy his heart's desire. The remaining RM10.00 will be collected to spend on the weekend.

Based on the analogy, choose the appropriate answer for the advantages of financial management:

• Have savings in times of emergency

• Avoid wastage

• Achieving goals and dreams

• Be a brilliant person

In your view, what is the impact on society that is not able to manage their finances well?

• The community lives peacefully

• Society is burdened with debt

• People live debt free

• Society can fulfill their wishes

The following are types of investment in Malaysia EXCEPT

• Fixed deposits

• Amanah Saham Nasional Berhad (ASNB)

• Bond Investment

• Buy groceries

What does it mean to shop wisely?

• Buy a lot of things you want

• Buy something according to ability and need

• Measure the shirt on the parent's body

• Buy something according to ability and desire

The act of starving and holding the stomach is appropriate so that money can be kept in the bank.

• Wrong

• That's right