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JEZREEELLL

The document outlines the financial plan of Jezrel Baldo Baylan, a Hospitality Management student, detailing assets totaling ₱615,000.00 and liabilities of ₱204,500.00, resulting in a net worth of ₱200,000.00. It includes short-term, actionable, and permanent financial goals, such as purchasing a car and starting a business, with specific costs and target dates. The plan emphasizes the importance of debt repayment, savings, and regular revision to achieve financial security and independence.

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Lucky Charlotte Jaro
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13 views5 pages

JEZREEELLL

The document outlines the financial plan of Jezrel Baldo Baylan, a Hospitality Management student, detailing assets totaling ₱615,000.00 and liabilities of ₱204,500.00, resulting in a net worth of ₱200,000.00. It includes short-term, actionable, and permanent financial goals, such as purchasing a car and starting a business, with specific costs and target dates. The plan emphasizes the importance of debt repayment, savings, and regular revision to achieve financial security and independence.

Uploaded by

Lucky Charlotte Jaro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ASIAN DEVELOPMENT FOUNDATION COLLEGE

144 Burgos St, Downtown, Tacloban City, 6500 Leyte

MY FINANCIAL PLAN

“The path to success is to take massive, determined action.” “Setting


goals is the first step in turning the invisible into the visible.” “Goals
are like magnets. They'll attract the things that make them come
true.”

Name: JEZREL BALDO BAYLAN

Major: Bachelor of Science in Hospitality Management

Instructor: MS. YHEERLA ERICA BUSA

Subject: FIN 1

ASSET
CASH & CASH EQUIVALENTS
Cash on hand ₱10,000.00

Checking Account ₱20,000.00

Savings Account ₱200,000.00

Life Insurance ₱75,000.00

Money owes to me ₱5000.00

Total Cash Equivalents ₱310,000.00

Personal Property

Estimate Equity in Home ₱85,000.00

Household Furnishing ₱20,000.00

Other Property ₱200,000.00

Total Personal Property ₱305,000.00

Total Assets ₱615,000.00

LIABILITIES
Current Bills
Charge accounts ₱30,000.00

Credit card Balances ₱12,500.00

Utilities ₱17,000.00

Insurance Premiums ₱7,500.00

Taxes ₱10,000.00

Other Bills ₱32,000.00

Total Current Bills ₱109,000.00

Outstanding Debts

Home Mortgage ₱65,000.00


Other Mortgages ₱4,500.00

All other Loan Balance ₱26,000.00

Total Outstanding Debts ₱95,500.00

Total Liabilities ₱204,500.00

NET WORTH
ASSETS ₱615,000.00
LIABILITIES ₱204,500.00
NET WORTH ₱200,000.00

Description:
Five years after graduation, in 2029, I already own a home, have the job I want, and continue to
help my younger sibling with his schooling. Right now, my net worth ₱200,000.00

FINANCIAL GOALS

Momentary Aspiration

GOALS TOTAL COST DURATION MONTHLY TARGET DATE


COST
1. Purchasing a Car 1,000,000.00 1 year 7,000.00 December 2024

2. Church Wedding 2,000,000.00 1 day 10,000.00 August 2024

Actionable Goal
GOALS TOTAL COST DURATION MONTHLY TARGET
COST DATE
1. Build my Dream mansion 5,000,000.00 3 years 5000.00 Jan 2025
2. Pay off Debt 25,000.00 2 years 10,000.00 Dec 2024
3. Self-investment 50,000.00 3 years 2000.00 Dec 2024
4. Bank Account Savings 500,000.00 2 years 15,000.00 Dec 2025

Permanent Goals
GOALS TOTAL DURATION MONTHLY TARGET
COST COST DATE
1. Start an emergency fund 25,000.00 15 yrs. 138.90 Dec 2024
2. Starting business 100,000.00 20 yrs. 757.00 Jan 2025
3. Life insurance (for my kids) 500,000.00 25 yrs. 1,666.70 Aug 2025
4. Long-term care (family) 200,000.00 20 yrs. 833.40 Dec 2024
5 Long-term care 100,000.00 20 yrs. 555.60 Oct 2024
Creating and Implementing my Financial Plan
The following short-, intermediate-, and long-term objectives will gradually be
completed;

 Using debt repayment as a means to aim for homeownership after five years.
 Financial commitment for my siblings' five-year tertiary education.
 Buying a car for approximately a year.
 I invested in myself to get ready to launch my own business two years ago.
 Ten years' worth of bank account savings paid in.
 Establishing a business at 35 years of age.
 A 25-year life insurance retirement paid in full.

By achieving the aforementioned objectives, I hope to achieve financial security and freedom.
financial abundance and assistance, I'm going to continue using the 10%–20% savings plan.
of my pay each month. The other options are my printing company, which I run on the weekends
at my dwelling. According to business entrepreneurs, making sacrifices is essential to allocating
funds and achieving success. additional cash and improve the dire financial circumstances.
Generating income is another means in attracted money for both passive income and financial
freedom, therefore I gave up enjoyment and the opportunity to purchase a elegant vehicle

Revision of Financial Plan


When my monthly income rises, I may add new objectives and remove old ones.
reached objectives. Since things in life might change, I might alter the deadlines for my
objectives when essential, which entails reorganizing my money and reducing the amount
allotted for my objectives when required. I don't currently have any adjustments because I
believe all of the stated objectives are essential to achieving financial independence. I have
already made some financial revisions, such as giving up enjoyable, etc. Depending on my
financial circumstances, I might buy some stocks in the future. I'm going to whenever my
financial status changes, I should definitely review my plan every six months and make
improvements to a financial strategy to achieve financial independence, abundance, and security

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