Personal Financial Plan for Buying a Laptop, Study Guides, Projects, Research of Business

Download Personal Financial Plan for Buying a Laptop and more Study Guides, Projects, Research Business in PDF only on Docsity! Personal Financial Plan Financial Goal/s: Buy a MSI Modern 15 with Ryzen 1155G7 laptop worth 40,999 on January 2024. Earn at least 3,439.33 a month starting on January 2023 to December 2023. I need to buy a new laptop for me to use in the future as well to not burden my family to buy me a new laptop. I will also be able to use this in college since the laptop is new and much faster than my current laptop. Financial Analysis Personal Financial Statements Personal Income Statement This document/presentation contains proprietary and confidential information. Reproduction, redistribution, or forwarding to any third party, in whole or in part, is strictly prohibited unless made with prior written consent from AC Education Inc./iPeople, Inc. Violation or noncompliance shall be dealt with according to law. Personal Balance Sheet Financial Ratios This document/presentation contains proprietary and confidential information. Reproduction, redistribution, or forwarding to any third party, in whole or in part, is strictly prohibited unless made with prior written consent from AC Education Inc./iPeople, Inc. Violation or noncompliance shall be dealt with according to law. 2. Remain Shopping expense amount of ₱2,000 in December. Although it’s a higher amount there is still enough income to spend for the month. 3. Decrease Lunch/Snacks to ₱7,000 per month. Even if it is a low amount it could still make up for a month's worth of food spent. 4. Remain as well the Food/Snacks expense amount of ₱20,000 in December. Although it’s a higher amount there is still enough income to spend for the month. Income Statement Forecast 1. Household contribution, Utilities and Government contribution remain the same as they are fixed expenses. 2. The bonus is the same since the bonus only occurs in December as part of the 13th-month pay. 3. Used Vertical Analysis Percentage of the Income Statement to obtain the Values for Prepaid load, Transportation, Haircut and Recreation. 4. The used average amount of ₱161.70 for Overtime. This document/presentation contains proprietary and confidential information. Reproduction, redistribution, or forwarding to any third party, in whole or in part, is strictly prohibited unless made with prior written consent from AC Education Inc./iPeople, Inc. Violation or noncompliance shall be dealt with according to law. 5. This gives me a total income of 11,337.46 pesos and it concludes that my goal is unachievable. 6. Loan of ₱30,000 to be paid by December 2023. Credit, Risk, and Investment; 1. Based on my Debt Management Ratio, my liabilities only make up -1.86% of my equity, meaning I need to apply for an investment as well part time work since I don’t have enough savings to achieve my goal and in this case I will not be able to pay off my loans. 2. Based on the research of available banks within our area, a bank account can be opened with at least ₱500 with an interest rate of 10.50% per annum. 3. Invest the ₱937.12 cash saved from the previous year in the bank account. 4. Applying for an investment is not much great because the interest earned amount will not be quickly enough to convert as an additional income. 5. For the other option, I need to find a part time job that pays an additional ₱3,000 per month just for 6 months contracts. Financial Plan This document/presentation contains proprietary and confidential information. Reproduction, redistribution, or forwarding to any third party, in whole or in part, is strictly prohibited unless made with prior written consent from AC Education Inc./iPeople, Inc. Violation or noncompliance shall be dealt with according to law. Conclusion; My goal is to buy a MSI Modern 15 with Ryzen 1155G7 laptop worth 40,999 on January 2024 and based on the analysis of data, I earned ₱11,337.46 from January to December 2023, not enough to achieve my goal and cover the loans. With the help of part time and investment (that gives me a savings account amounting ₱42,572.79), I can meet the target amount as well as paying off my debts. Sources; SSS-₱581.30 PhilHealth-₱221.86 Pagibig-₱100.00 Liquidity Ratio:LINK Debt Management Ratio:LINK Saving Ratio:LINK Calculators: Tax Calculator 13th Month Pay Calculator CSI Market Part time Job:LINK This document/presentation contains proprietary and confidential information. Reproduction, redistribution, or forwarding to any third party, in whole or in part, is strictly prohibited unless made with prior written consent from AC Education Inc./iPeople, Inc. Violation or noncompliance shall be dealt with according to law.