Reflection Paper 2: Financial Management Plan 1

Name: Click or tap here to enter text. Date: Click or tap to enter a date.

Instruction: Answer the questions indicated in each number.

Financial Management Plan

1. Describe the kind of lifestyle and setup that you are planning to have after graduation.
 What kind of lifestyle do you plan to have?
 Where will you live? With your parents? Rent an apartment?
 Will you be commuting to places or driving a car?

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2. Based on what your plans/goals/dreams are, come up with a monthly expense list using the table below.

Category Particulars Total

Rent Example: (P5,000/month)

Meals Example: (P300/day x 31 days)

Transportation

Cellphone Load/Bill

Internet

Recreation

Savings/Investment

Others (think of all

the things you
might spend for)
TOTAL

Note: You may add additional category, if needed.

3. Compare the amount that you will be spending every month to the starting salary you are expected to receive
(considering the salary range for the position that you are aiming for) and/or the profit that you are expected to
receive from a particular business that you have, or you are planning to start. What did you find out/realize?

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4. In our previous activities, you have already identified your career and vocation plans and goals. This time identify
3-5 financial goals and the financial/money management strategies that you would like to try to be able to meet
your financial goals by filling out the table below. Please note that financial goals may be in the form of
purchases that you want to make someday, or a savings fund you wish to put up or the need to pay up debts
(Madura, 2007).

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CSBGRADFinancial Literacy
 Reflection Paper 2: Financial Management Plan 2

FINANCIAL GOALS WHEN DO YOU WANT ESTIMATED MONEY MANAGEMENT STRATEGIES TO

TO ACHIEVE IT TOTAL COST MEET YOUR FINANCIAL GOAL

5. What new information was added to your knowledge on financial management?

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6. What old beliefs about financial management were altered?

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7. What personal perceptions about financial management were affirmed?

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8. Why is financial planning and management important?

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CSBGRADFinancial Literacy