Supplier Market Analysis

advertisement
Personal Finance
Ece Yavuzbaş
Gökçe Uz
Tevfik Kumru
Kemal Pınarbaşı
1
2
Outline
 Definition
 Benefits
 Financial position
 Adequate protection
 Tax planning
 Investment and accumulation goals
 Retirement planning
 Estate planning
 Personal Budget
 Software Programs
3
It’s not your salary that
makes you rich, it’s your
spending habits.
Charles A. Jeffe
Definition of
Personal Finance
Personal finance is defined as the way
in which an individual or a family
makes decisions in relation to their
financial portfolio.
4
Personal financial plan: a plan that
specifies your financial goals and
describes the spending, financing,
and investing plans that are intended
to achieve those goals
Benefits of
Personal Finance
•Personal Financial Planning may not
help you to earn more money, but it will
help you to use your money more wisely.
•As part of your personal financial plan,
think about what is important to you.
What do you want to accomplish?
5
Benefits of
Personal Finance
•Budgeting
•Savings
•Investment
•Risk Management
•Cash-flow management
6
Components
•Financial position
•Adequate protection
•Tax planning
•Investment and accumulation goals
•Retirement planning
•Estate planning
7
8
Financial Position
 Financial planning needs to understand what
his/her/their financial situation is.
 Household assets
 Household liabilities
 Household cash flow
9
Financial Position
 Develop and implement a budget
 Calculate your net worth (wealth) using a
balance sheet
 Develop a personal income statement and use it
to analyze your spending
 Introduce budgeting software: Quicken,
Mint.com and others
10
Adequate Protection
 Protected in event of an emergency must also
be in place
 Natural disasters and death
 Buying insurance for each of these areas
 Risk Allocation
11
Tax Planning
 Certainties: Taxes and Death
 Income
 Value of Assets
 Single largest expense in a household
 Tax deductions
 Credits
Impacts of Taxes
Goals
Estate
Planning
Retirement
Planning
Budget
Taxes
Investing
12
Cash
Management
Savings
and Debt
Insurance
Investment and
accumulation goals
 Planning how to accumulate enough money for
large purchases
 Major reasons to accumulate assets include
purchasing a house or car, starting a business
,paying for education expenses and saving for
retirement
 Major risk to the households, the rate of price
increases over time or inflation
Investment and
accumulation goals
 Financial planners suggest regular savings in a
variety of ınvestments
 The investment portfolio has to get a higher rate
of return
 Investors risk attitudes vary from person to person
 These types of financial goals require careful
planning and secure investments.
Retirement planning
 Personal finance involves planning for your or
your families retirement
 You need to know how much money do you
need to be retired and how do you finance this
retirement
Private Pension
Private pension
Private pension
 This is a long-term investment that are used by
intermediaries instead of you
 When you come retirement age, you obtain a
sum of money
 Payments are deposited to the Takasbank.They
are under the control of government
 You can see your fund fluctuations on web site.
Retirement companies
Advantages of the private
pension
 A small amount of contribution is paid each month
 You can earn more money with less money
 You can determine the degree of risk
 You don’t need to pay an other fee when
devolved into another company
 Funds are conducted by professional portfolio
managers
 The allocation of funds can be changed six times a
year
 There is no loss of money
Disadvantages of the private
pension
 To be long-term investment
 You have to pay operating expenses like 8%
 Fund operating deductions are made
 If you exit the system less than 10 years,10% is
interrupted
 When you evaluating the savings at
exchange,you have to pay a tax for earning per
tl to the government.however ıf you evaluate the
saving at private pension companies,
government don’t get a tax from you.
21
Estate Planning
•Estate planning involves planning for what will
happen when you die, and planning for the tax
due to the government at that time.
•Estate planning typically attempts to eliminate
uncertainties over the administration of a probate
and maximize the value of the estate by reducing
taxes and other expenses.
22
Personal Budget
 A personal budget is a finance plan that
allocates future
personal income towards expenses, savings a
and debt re-payment.
23
Cash Flow Trade Off’s
Key Cash Management tradeoffs:
1. The Risk-Return trade off
2. The Spending-Investment Risk trade off
3. The Time Expended-Return trade off
Softwares
24
25
Conclusion
 How can people protect themselves against
unforeseen personal events, as well as those in
the external economy?
 How can family assets best be transferred across
generations (bequests and inheritance)?
 How does tax policy (tax subsidies and/or
penalties) affect personal financial decisions?
 How does credit affect an individual's financial
standing?
 How can one plan for a secure financial future in
an environment of economic instability?
26
Thank You For Your
Attention
 Do you have any question?
Download
Random flashcards
State Flags

50 Cards Education

Countries of Europe

44 Cards Education

Art History

20 Cards StudyJedi

Sign language alphabet

26 Cards StudyJedi

Create flashcards