Personal Financial Plan

My Personal Financial Plan BFIN 22562 personal finance Name: N A I Kumudini Student No: AS/2021/037.

Content Vision & Mission Steps of developing personal financial plan Identify Current financial situation Set Goals Alternative course of action Evaluate alternative course of action Create & implement plan Budget forecasting Retirement Planning Insurance Planning.

[Audio] My Vision & Mission My personal financial goal is to be financially successful, live comfortably, and be content with my life. completing my obligations to my family and society while also reaching new objectives. My personal finance goal is to become a certified chartered accountant in Sri Lanka so that I can further my career and launch my own company. Through my work, I hope to make as big of a contribution as I can to Sri Lanka's future development and to use my energy as efficiently as possible to positively influence everyone in the community. With my future company, I hope to make as significant an impact as I can on the nation's economy. to do my utmost to fulfill my obligations to my parents and all other family members. I am therefore always prepared to put my skills to the fullest use and exert every effort to fulfill my mission. ..

[Audio] Steps of developing Personal financial plan Insurance planning Identify alternative courses of actions Retirement planning Create & implement a plan Set Financial Goals Evaluate alternatives Identify Current Financial Situation.

[Audio] Identify Current Financial Situation Cash Inflow Mahapola scholarship 5000 CA class fees 15000 Saving account interest 500 Total cash inflow 20500 For Meals 5000 Travelling Purposes 4500 Internet Packages 2500 Other Stationaries 1750 Total cash outflow (13750) Net cash inflow 6750 Personal Cash Flow Statement.

[Audio] Identify Current Financial Situation Laptop 180000 Mobile phone 55000 Cash on hand 35000 Saving Account 25000 Life insurance 150000 Fixed Deposit 250000 Stock 15000 Total Assets 710000 Liabilities Home broadband bill 5000 Insurance premium 2500 Student lap loan 150000 Total liabilities 157500 Total assets 710000 Total Liabilities (157500) Net Worth 552500 Current Net Worth.

[Audio] Setting Goals Long – Term Goals (more than 10 years) Intermediate Goals (1-10 years) Short – Term Goals (Less than 1 year ) Graduate in February 2028 first class with gold medal. Qualified in CA. Go abroad in February 2027. Get married in March 2030. Complete my P-H-D in March 203 Start my new job in private company as a chairman. Buy my own Hybrid Motor Vehicle. Build a Luxury House. Complete Business level 2 in CA professional exam Start an internship as an auditor of the big audit firm Buy a smart Tablet Trip to Jaffna with family.

[Audio] Alternative Courses Of Action Using my saving account. Using Mahapola scholarship. Doing Online part time job. Using my fixed deposit interest. Using pocket money. Using money receive from father. Get a Bank loan. Profit from my own business.

[Audio] Evaluate Alternative Couse Of Action Future Value Ordinary Annuity Present Value Ordinary Annuity.

[Audio] Net cash flow 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 10157 221242 320342 443316 715865 Column1 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Column2 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Create & Implement A Plan ..

[Audio] Budget Forecasting My Net Worth Dani Martinez.

[Audio] Retirement Planning Age Term Retirement Age 22 33 55 Annual saving needed 103367.66 r = 14% Saving Goal 55000000.

[Audio] My Auto Insuarance Insurance Planning Insuaranse Time period Annual Premium 2035 2045 maximum damage. RS.2500000 Rs.850000 Other Insuranses Life Insurance Health insurance Auto Insuarance.

[Audio] Thank You For Watching. THANK. YOU FOR WATCHING.