My Personal Financial Plan

MY FINANCIAL PLAN

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“Plan for the future because that’s where you are going to spend the rest of your life.”

- Mark Twain

By

Jonathan C. Geraillo

BUS560M (La Sallian Business Leadership, Ethics and CSR)

De La Salle University – Manila

ACTION PLAN |

PROPOSED OPTIONS |

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INCREASE INCOME |

1. Get a good paying job (be sure that it is still in line with my career objectives). |

2. Consider equity investments (SunLife, PruLife, AXA etc.) to let my money roll and yield dividends. |

3. Instead of putting my money in a bank with very low interest rate, invest it in a local cooperative to yield dividends. |

4. Have my own business or at least consider franchising a business. |

5. Get temporary work or seasonal part time work to boost my income. |

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DECREASE LIVING EXPENSES |

1. Avoid being a compulsive buyer - need versus want. Avoid window shopping. |

2. Seek Cheap ThrillsI don’t need to spend a lot of money to have fun, so I need to examine my entertainment spending, and see if there are places where I can make cuts. I could rent movies instead of seeing them in the theatre. Check out books at the library instead of buying them. Do potlucks with friends instead of eating out in a restaurant. |

3. Bundle my servicesCheck for bundle offers for having internet, phone and cable service. |

4. Wait and avail of discounts and sales.Instead of shopping on a regular day paying at a regular price, I can avail of discounts on mall sales. |

5. Get Energy SmartI will check devices at home that are not energy efficient and start replacing them one by one; only buy Energy star gadgets and appliances; turn off lights when they aren't in use. |

6. When eating out, I will skip the soft drinks or juices or desserts (anything extra) and stick with water. |

7. Use exercise videos, walking or hiking instead of paying for the gym. |

8. Make my own coffee instead of buying it. Pack my lunch – not once a...