Personal Financial Plan

1. Career Planning

a. My life in 10 years would be that I would continue or family business that was left by
my dad, and that is commercial buildings and apartments, I would like to expand
that business by adding more commercial building and apartments. At this time I
think I am single or I am having a girlfriend.
b. I base my answer in our monthly rents receivable, in this month. I determine that for
example one commercial building/apartment I would receive GBP.57,930 (Pound
Sterling) if converted to Philippine money I would have PHP. 4,047,221.52, and how
about having 5 commercial building/apartment I would have PHP.20,000,000. But
tax is not yet included and also building insurance, repairs, pest control, and more.
So the annual salary would be in my rough estimate PHP.240,000,000 in a year. If I
am married of having a girlfriend I think that she is an artist in London and she is
self-employed, and she earns GBP.2,000 to GBP.11,000 in a month if converted into
Philippine money it would be PHP.139,728 to PHP.768,504 a month, and she would
have an annual salary of PHP.9,222,048.
c. I would use Social Media to promote my commercial buildings/apartments and also
help my girlfriend/wife promote her art in Social Media.

2. Financial Goals

a. For my short-term financial goal I would save money for a wedding.

b. For my three long-term financial goals, I would save money for my children’s
education, Build a relationship with money mentor, And last I would prepare the
papers for the dividing of properties that I have to my children’s and also make my
last will and testament that would help my children’s to have a good life.

3. Monthly Budget

a. Base in the Career Planning, my monthly of the commercial building/apartment

would be PHP.4,042,221.52 and with the Tax it would be PHP.1,616,888.61 because
the Tax rate in London is 40% and the Insurance, repairs, pest control and the
monthly budget of the commercial building/apartment would be GBP.11,000 or in
Philippine money it would be PHP.767,129 is the monthly budget for the commercial
building/apartment. If I would be living in the Philippines my monthly budget would
be PHP.50,000 and that would include the water bill, electric bill, food and more.
b. I think that by living in the Philippines I would save a lot of money because the rate
of the money is different.