Classmate responses should be on topic, original, and contribute to the quality of the discussion by making frequent informed references to lesson material.
DIRECTIONS
Classmate responses should be on topic, original, and contribute to the quality of the discussion by making frequent informed references to lesson material. Response Posts: Minimum 50 words for each response post.
AB104 – Personal Financial Management
TOPIC
Throughout this course you have been learning the importance of having good financial management.
Let’s have an open discussion about financial plans.
Will the financial plan you made be helpful in planning your future?
Give us your thoughts on the whole process and its benefits to you.
CLASSMATE POST #1
I feel the financial plan that I have established will benefit me in future years because I have learned the essentials behind investing and have become more familiar with how to properly budget. I have also found that with recording my expenditures in my daily log, I can have a clearer understanding of where every penny goes. By minimizing unnecessary spending, I can accumulate more savings which will be beneficial in years to come. Throughout the Workbook I have been given the opportunity to list my bills, seeing what they cost me throughout an entire year. Having the ability to see this on this spreadsheet, I can compare income and expenses. I have been astonished by the amount of money that accumulates without even realizing it. For instance, a little bit of money here and there turns out to be a lot of money altogether. I never considered this until working within this course.
Acknowledging that as I become older, my ability to perform certain duties will minimize while my expenses will most likely increase. Considering future medical conditions, medications, doctor visits or whatever else may come as I age. Therefore, generating savings now will allow me a more profitable future. Realizing the economy can change and income can vary as well, it is important to have a personal financial management plan to ensure we have stability and peace of mind in these economic times. Without having my financial plan set, it would be difficult to maintain during hardships. Ultimately, it is essential to thoroughly understand what money we have coming in and what money we have gone out. Depending upon our living situations, all people may vary, some can save more than others, but everyone can save something.
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