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Importance of Financial Planning for Students

Shanny Lasah has assets totaling RM3,050 consisting of a laptop, smartphone and printer. Their liabilities are RM11,300 including house rental, transportation and a study loan. They are taking a course called Manegerial Finance and their student ID is 59898. Financial planning is important for organizing a budget and allocating future income to expenses like rent, utilities and transportation as a university student. It also helps with risk management and identifying issues to aid short-term and long-term savings.

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36 views2 pages

Importance of Financial Planning for Students

Shanny Lasah has assets totaling RM3,050 consisting of a laptop, smartphone and printer. Their liabilities are RM11,300 including house rental, transportation and a study loan. They are taking a course called Manegerial Finance and their student ID is 59898. Financial planning is important for organizing a budget and allocating future income to expenses like rent, utilities and transportation as a university student. It also helps with risk management and identifying issues to aid short-term and long-term savings.

Uploaded by

NISS
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as ODT, PDF, TXT or read online on Scribd

Name: Shanny Lasah Matrics no,: 59898

Manegerial Finance(EBF1054)

Balance sheet( Individual Net Worth)

Asset

Laptop (Asus) 2,000

Smart phone (Lenovo) 800

Printer(Hp) 250

Total 3,050

Liability

House Rental 150

Transportation 150

Study loan (ptpn) 11,000

Total 11,300

Why is financial planning is important to you?


Name: Shanny Lasah Matrics no,: 59898
Manegerial Finance(EBF1054)

Financial planning is an evaluation of an individuals current pay and future financial state by
using current known variables to predict future income, asset values, cash and withdrawal
plans. The financial planning is important to organizes an individual budget includes a series
of steps or specific goals for spending and saving in the future. The planning allocates future
income in various types of expenses. For examples a University student, the expenses are
more on the rental payment, utilise, transportation, and books every semester. The student has
to learn with a good financial planning through the year of their study in order to survive in
their study. Moreover, financial planning play important roles in specific areas such as risk
management like in emergency in needing money in college. A good financial planning will
help to identify any risks and issue with the budget set and also help individuals for short-
term and long-term savings.

In context of business, a financial plan can refer to the three primaries which are, financial
statements, balance sheets, income statement and cash flow. Besides, financial planning helps
ensuring a reasonable balance between outflow and inflow of funds. Last but not least
financial planning also helps to reduces uncertain with regard to changing market trend.

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