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Group presentation. Consumer Credit Investment & Retirement Planning Future Financial Challenges.

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GROUP MEMBER. Evlyn Dausip (2020903923).

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Consumer Credit. Consumer credit is necessary since an individual has a limited amount of money as a resource to purchase. Consumer is a power to buy or borrow on trust . This is because you buy or borrow first and make the payment later . Consumer credit or consumer debt management can be defines as the way of controlling money because credit need to be paid..

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calculate to find out you are in too much debt. Debt Payments to Income Ratio = Monthly payments Gross Income.

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Types Of Open Account Credit. Charge Credit They are similar to credit cards but the amount must be paid fully every month. It allows the holder to make full payment within 10-12 days after the billing date..

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LOAN. Loan are often larges in amount and have longer repayment periods than open account credits. Loan are usually one –off( lump-sum) and are taken to finance expensive purchases..

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PERSONAL LOAN Banks provide consumer credit in the form of person loans. For salaried people ranges from RM 5,000 to RM 100,000 depending on the amount of the salary. For any personal purposes such as, home renovating, owning car,holiday tour and others..

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INVESTMENT PLANNING. What is investment ? the process of placing money in some medium such stocks or bonds in the expectation of receiving some future benefit ..

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Components Of The Risk Factor. Interest Rate Risk you may invest in a bond at a 6% rates later go up 8% your bond price falls.

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The Returns From Investing. Current Income dividends from stock, interest from bonds, or rents from real estate..

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TYPES OF INVESTMENT. Investment In Savings Account.

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FUTURE FINANCIAL CHALLENGES.

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What is future financial challenges ?. Future financial challenges is obstacle that you need to face regarding your financial problems that block you from going as you planned. It can be long term and short term depends on what kind of challenges..

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Money spending exceeds income having an income that does not cover their expenses. How to overcome ? Cut unnecessary expenses Increase income by part time job or some business. Track your expenses to build a budget that works..

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HOW TO HANDLE IT? They need to refer someone who is have an experience in financial planning or pay for financial consultant for an advice regarding their financial status..

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NO EMERGENCY FUND Unfortunate things can happen anytime such as fired and unwanted accident (illness)..

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RISE OF COST OF LIVING. Cost of living is the amount of money needed to sustain a certain standard of living affording expenses such as housing food, taxes and healthcare. It is INCRESING RAPIDLY . This will effect those who have low salary or income..

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DO NOT HAVE ENOUGH SAVING FOR RETIREMENT. Some people do not have retirement planning because debt..

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CREDIT CARD DEBT. HOW TO OVERCOME ? DO NOT APPLY CREDIT CARD JUST FOR UNNECESSARY THINGS. “ YOU ARE NOT REQUIRED TO SET YOURSELF ON FIRE TO KEEP OTHERS WARM” PAY IT ON TIME..

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ADVANTAGES OF FUTURE FINANCIAL CHALLENGES. ACHIEVING PERSONAL GOALS HAS ADDITIONAL EMOTIONAL & MENTAL HEALTH BENEFITS. HELP SET PERFORMANCE STANDARDS GREAT SOURCES OF MOTIVATION AND COMMITMENT PROVIDE A GUIDE FOR ACTION & DECISION MAKING.

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IMPORTANCE OF FINANCIAL PLANNING. PROVIDE DIRECTION TO YOUR GOALS PLAN THE BUDGET IN A BETTER MANNER MAKES YOU DISCIPLINED TOWARD MONEY FAMILY SECURITY.

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CONCLUSION. Financial planning and analysis are an integral part of wealth management. It is also something that should be taken up as early in life as possible. Regardless of your income or goals, a sound financial plan can set you up for life and eliminate any kind of financial stress, both pre and post-retirement ..

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“Wearing unbranded & cheap clothes doesn’t mean you are poor. remember, you have a family to feed. Not a community to impress.” -: Emma Watson..