JWG311: Assignment 2 Personal Finance Journal & Narrated Presentation

JWG311: Assignment 2 Personal Finance Journal & Narrated Presentation.

øøoaa. Question 1: In-Depth Budgeting Analysis 1.1 Tracking Income and Expenses for Three Weeks.

1.2 Personal Financial Goals. jfc.. Short-Term Goal -Paying TuksAquatics for the learn-2-swim, stroke correction and water safety program. Intermediate Goal -Saving for the Advanced Certificate in Teaching (ACT) at NWU/ UFS (2028). Long-Term Goal -Capital for the compliance certificates and municipal operating licenses (SANRAL ISO 14001) of SW Collins & Sons Trading Enterprise.

1.3 Predictive Budget. 1.4 Adapting the Budget to Meet Financial Goals Reduce unnecessary spending such as fast food and entertainment Find extra income sources like tutoring Use affordable transport options Buy only necessary items 1.5 Importance of Budgeting in Personal Financial Planning Helps manage money responsibly Prevents overspending Improves financial discipline Supports better financial decisions.

2.Do I need to file a tax return?. 2026 Tax Threshold For individuals under 65 years, the threshold is approximately R99,000 per year. As a student earning NSFAS and minor tutoring income, I fall below this threshold. However, professional employment will change this status..

Steps to Submit a Tax Return. STEP 1: Register with SARS eFiling 1 STEP 3: Complete ITR12 form 3 STEP 4: Submit completed ITR12 form for assessment 4 STEP 2: Gather all required documents 2.

Vehicle Selection & Financing Strategy. [image]. Preferred Car: 2024 Volkswagen Polo GTI Attributes: High performance, modern safety features, and strong brand prestige. Purchase Price: R509,000 Financing Model: Initial Structure: Fixed financing option with R0 deposit at the time of signing. Strategic Injection: A lump-sum payment of R120,000 will be made in Month 2 to drastically reduce the principal debt and future interest. Impact: This strategy lowers the total interest paid over the 72-month term compared to a standard zero-deposit loan..

Car financing. Vehicle Price: R509 000 Deposit: R120 000 Loan Term: 72 months Interest Rate: 10.25% Balloon Payment: 30% Loan Repayment Results Monthly Instalment: R5 803.34 Finance Amount: R390 207.50 Interest Paid: R175 364.94 Total Payable: R570 540.44.

Buying vs leasing. Feature Buying Financing Ownership You own the asset once the loan is paid off. You do not own the car; you return it after the term. Millage No limits, ideal for long commutes to schools. Strict annual mileage limits; penalties for overages. Cost Higher monthly payments but builds equity. Lower monthly payments; helps with short-term cash flow. Maintenance Owner is responsible for all costs post-warranty. Often includes maintenance benefits or full cover. Long-term Higher long-term value as a personal asset. Access to newer cars with modern safety features..

Alternative Financing and Lemon Laws. Financing options.

Housing Strategy: Rent to Build. Fountains View Analysis The Rural Eastern Cape Goal Total Rent: R6,000 | NSFAS: R5,200 Personal Top-up: R912 Income: R4,216 | Ratio: 21.6% 21.6% Top-up Ratio Within One-Third Limit (33%).

Rural Ownership Visualization. By bypassing the mortgage system, I avoid 20 years of interest payments. Traditional lenders require credit scores and stable income, but building on communal land requires cash-flow management. Affordability Goal: Save R60,000 annually from salary buffer to fund incremental construction phases..

Retirement and Future Wealth. Retirement Goals. Desired Retirement Age: I plan to retire at 60 years old, providing a 40-year horizon to build sufficient capital. Active Retirement Lifestyle: My retirement will not be passive; I intend to transition into a new career phase that combines leisure with professional impact..

Conclusion. Calculator, pen, compass, money and a paper with graphs printed on it.