Getting Started with

Personal Finance

WEEK 1 MODULE 1
 Learning Outcomes:

• Define personal finance

• Identify the basics of personal finance
• Explain the main areas of personal finance
• Recognize some generally good financial habits
 How Should One
Think about Money?
Give some thought as to what it means to you.
1. Money is not
just about
spending!
 2. Consider
Opportunity
Cost!
What you give up when you commit
your money to one thing or another.
Give some thought as to what it means to you.
3. Think About
Investing!
Let your money grow.
 What is Personal
Finance?
All financial decisions and activities of
an individual or households.
 Think of your
financial decisions
and activities.
BASICS OF •
•
Budgeting
Saving

PERSONAL
• Spending
• Emergency fund
• Financial goals

FINANCE •
•
Debt
Retirement
• Credit
• Insurance
• Investing
• Plan your financial future
 Main Areas of Personal
Finance
INCOME Source of cash inflow than an individual receives.
The starting point of financial planning process.

SAVING Percentage of income retained for future investing/ spending.

All types of expenses an individual incurs.

SPENDING Cash or Credit
Reduces the amount of earning

INVESTING Purchase of assets that are expected to generate a rate of

return in the hope of receiving more. Professional advice is a
need

PROTECTION Products that can be used to guard against an unforeseen and

adverse circumstance.
Some Generally Good Financial Habits

1. Create a Budget
2. Track Your Spending
3. Save Regularly
4. Build an Emergency Fund
5. Pay Bills on Time
6. Avoid Unnecessary Debt
7. Plan for the Future
8. Invest Wisely
9. Live Within Your Means
10. Educate Yourself
 Conclusion
Managing finances requires discipline and careful planning. With
the right strategy, we can ensure our finances are healthy and ready
to face the future.
It's not how much money you make,
but how much money you keep, how
hard it works for you, and how many
generations you keep it for.
- Robert Kiyosaki
 Review Questions:
1. Define personal finance

2. Give at least 5 activities that involve making

financial decisions.

3. Explain briefly the 5 areas of personal finance

4.What is the benefit of practicing good financial

habits if your income is low?
 INDEPENDENT LEARNING:

1. Answer the exercise about “Attitudes on Money”.

2. After completing the exercise, write your reflection. The reflection should be at
least 100 words.
• Please see rubrics on your reflection: https://tinyurl.com/yc577n3f

ASSESSMENT:
Written Activity:
• Answer questions in 2-5 sentences in relation to the topic presented.
• The answers will be graded based on this rubric: https://shorturl.at/sXbq8
Written Activity Questions:

1. What is personal finance? Why should you care about it?

2. What are the basic parts of personal finance and how can they help
you manage your money?

3. Simply explain the main areas of personal finance.

4. What are some good financial habits? How can these habits help
you in your daily life?
Thank You