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POWER OF MONEY
Money is power, freedom, a cushion, the root of all evil, the sum of blessings Gaining personal knowledge is important because financial knowledge empowers us to make good decisions with our money When setting financial goals, we must consider our priorities Goals must be specific and stated in periods
Periods of goals 1. Short term goals ; less than 1 year 2. Medium term goal ; between 1 3 years 3. Long term goal ; more than 3 years There are many uncertainties in life to be faced When setting goal, include saving for emergency fund
2. Measure in meeting short-medium-long term financial goals 3. Maintain information about financial activities 4. Providing data use for tax purposes or loan application
Positive net worth; we own more than we owe (healthy financial position) Negative net worth; we owe more than we own (financial trouble, bankrupt)
Our cash flow statement tells us what we received and spent in terms of cash over a period of time
Total Cash Received Total Cash Outflow = Cash Surplus/Cash Deficit
In certain cases, financial institution will file a bankruptcy order if debt amount is more than RM 30000. Question 1. What are the things that we are legally barred from doing?
CHAPTER 9
ACHIEVING ENTREPRENEURS PERSONAL FINANCIAL DREAMS
Saving Habit Investment Goals Investment Risk And Return Diversify Investment
TYPE OF INVESTMENT
Cash And Fixed Interest Investments Real Estate Investment Trust ( REIT)
Property
Shares
Bonds
Whole Life Term Life Endowment Investment Linked Medical And Health Mortgage Reducing Term Motor
House
Travel Personal Belonging
Types Of Takaful
Family Takaful General Takaful
Individual Family
Home Takaful
Retirement Annuity Motor Takaful
Investment Linked
Personal Accident Medical And Health
Types of loan
Personal loan
Housing loan
Car loan
TYPE OF CARD
Credit card Charge card Prepaid card
Debit card
Group Assignment
1. What exactly balance sheet statement and cash flow statement reports? KAIZER 2. What are the things that we are legally barred from doing if we are blacklisted or bankruptcy? X-F 3. What are the tips when using credit card? GREEN ENTREPRENEUR 4. What are the signs showing we are in financial difficulty? DRI-FIT
5. What are the differences between insurance and takaful? PRODIGY 6. What is Real Estate Investment Trust (REIT)? YO PEACE FAMILY 7. What is Credit card, Debit card, Prepaid card and Charge card? NAZRULS 8. Money is power, freedom, a cushion, the root of all evil, the sum of blessings. Discuss. GAJAH
9. What is delaying gratification. Discuss with example. ESUK 10.What the things that we need to consider when preparing budget? MIU MIU 11.What are the purpose of insurance? KM TURBO 12.What is emergency fund? Discuss with example. USAHA 1