Personal Financial Planning
- Discussion
Hello Everyone!
My name is Brittani, and I am very excited to be taking this class with you guys. I am a finance major and will be completing my degree in August this year. Finance has been a fascinating journey to me. Through every class, I was able to realize the importance of planning, in not only our financials but also all other aspects of our lives as they collectively contribute to how our lives turn out. I believe this class will further supplement all that I have previously learned, especially on insurance and how to save for retirement. Furthermore, it will help me get more acquainted with financial statements, something that I rarely incorporate in my personal life. These, I feel, will help me keep track of how I spend and invest my money, especially since I find that by the end of the year, my savings are not enough, and I do not know how I spent most of my money. I am currently working for a high-end retailer, and my career prospect is to work in corporate finance. The course will be a significant stepping-stone of knowledge and experience towards this. I love animals, especially dogs, and my Maltese, Diesel, often reminds of loyalty and unwavering love.
Although the 2008 financial crisis did not directly affect me, I could tell the effects it had on the financial position of people and the economy of the country due to its extensive coverage on the media. I believe learning from the mistakes of others is very crucial, especially in the field of finance, to prevent monetary loss that has the possibility of being avoided. Therefore, I have always been curious about historical factors that affected our economy. The 2008 financial crisis taught me the importance of having savings that could cover expenses for several months due to unexpected unemployment situations. Moreover, a backup investment plan is essential in ensuring an individual can stay afloat in unpredictable circumstances.
When developing financial plans, I think people should ensure that their savings are adequate and that they invest in other sources of income, besides employment. Insurance is vital in ensuring that other sources of income are protected in case of the occurrence of an insured risk. It is also important that individuals do adequate research when deciding where to save and invest their money for maximum returns.
I am looking forward to learning and interacting more with you guys on various aspects of this course.