Objectives:

The objective of this written report is to help every individual to manage their own
money, to be able to identify which matters the most and to have knowledge about how
to control the income.

 The student’s able to apply on how to manage their own money

 They will be able to identify which matters most.
 They will develop the right manners on how to manage their own income or
allowance

Introduction

Personal Finance Education is the education and understanding

about various personal financial, it will give you knowledge and skills that allows
individual to learn and understand the personal financial management. Personal finance
education is an important thing to learn because it will give you the knowledge and
ability to manage the family income or money, to give you the ability to make proper
decision about personal finance such as investing, saving, real estate, paying for
college, budgeting, retirement and planning finance, to give you the ability to keep your
debit and account balance in to control and lastly to give you knowledge on how to
invest for your future. Money is an important thing in our daily lives so we need to value
it more than everything else so by the use of personal financial education it will help us
to become self-sufficient so that we can achieve financial stability. This kind of
education can help a person develop a financial control that will help them to identify
what he earns and to identify what he spends and what he owns to help them to budget
personal finance.

Personal finance is all about meeting the personal financial goals, so it means Personal
finance is depend on your income, expenses and mostly the individual goal. In short to
meet the personal financial goal you need to fulfill those needs and those life goals you
want. That’s why personal finance education is important to make the most of your
income and savings so you can distinguish between good and bad advice and to make
the savviest decisions.

Content

The sooner you start financial planning the better, but it's never too late to create
financial goals to give yourself and your family financial security and freedom.

Devise a budget

budgeting is essential to living within your means and saving enough to meet your long-
term goals there is what we called ‘The 50/30/20 budgeting method’ which the 50% of
your net income goes towards living essentials, such as rent, utilities groceries, and
transport. 30% is allocated to lifestyle expenses and desire, such as dining out and
shopping for clothes. 20% goes towards the future: paying down debt and saving both
for retirement and for emergencies. There is also a budgeting app online for smart
phones you can use it to budget your personal finance.
Create an emergency fund

It is important to set aside money for an unexpected expense such as medical bills,
accidents, unexpected incident and sudden unemployment.

Limit debt

Don’t spend more than you earn sometimes its better to taking out a mortgage to buy a
house is a one good thing but sometimes be careful what we rent for don’t rent a high
rental fee that you can’t afford. Be practical in our lives.

Payoff student allowance

We need to make money for our child studies especially when they reach college, we
need to save money for their future or for their college and studies

Give yourself a break

We need to give ourselves a break for ourselves, because all your hard works deserves
a reward or to enjoy yourself just for once but always be careful on spending your
income, always save for the best.
 Summary

The personal finance education is one of the most important things to learn
because it is useful and is applicable in our daily lives. It will teach us on how to manage
properly the expenses for our daily needs for choosing the right decision on how to
spend it. Also, to plan and to invest in our future or the goals of our income like when
are we going to start planning or budgeting, when do we get our income, and when to
spend it or what are we going to buy with the use of what we “want” and “need”, and
how are we going to budget our income or allowance .

We all know that the generation of today has a highly increase of the stuffs such
as for education, transportation, and also for our personal needs and also the things
that we want for ourselves, in short, we need to lessen our expenses most specially in
the things that we want.
Cramer, Jim (n.d.) Personal Finance Retrieved from
https://www.thestreet.com/topic/47761/personal-finance.html
Kenton, Will (2019, Feb 21). Financial Literacy Retrieved from
https://www.investopedia.com/terms/f/financial-literacy.asp
Ritchie, Alanna(2019) Finance Literacy Retrieved from
https://www.annuity.org/financial-literacy/