ABOUT THE AUTHOR

Arabella B. Pabilonia, is a graduate of Doctor in Business Administration, holds an

academic rank of Associate Professor III, a GAD Coordinator for six years, a TESDA
assessor in Bookkeeping, and a license Financial Advisor. She handles finance and basic
accounting subjects. Rendered 21 years in University of Rizal System.

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 COURSE GUIDE

I. COURSE TITLE : FME 2 PERSONAL FINANCE

II. COURSE DESCRIPTION:

This course includes a broad series of lessons and activities that offer a variety of
modalities for ultimate student engagement and content retention. Each unit contains a
series of lessons that include introduction of content, virtual demonstration of that content,
and repeated opportunity to practice that content, along with a quiz per lesson, exam per
unit, and final exam at the end of the course.

III. COURSE OBJECTIVES:

General Objective:
Understand and learn the basic concepts, skills and knowledge about personal financial
decisions which can be useful in any type of organization and provides the student with
tools needed for short and long term financial success.

Specific Objectives
At the end of the course, the students should be able to:
1. Practice the building blocks to achieving financial success, recognize how the
economy affects personal financial success, apply economic principles when
making financial decisions, make time value of money calculations, create
smart decision about employee benefits, classify professional qualifications of
providers of financial advice.
2. Recognize the key steps in successful financial planning, explain work-style
personality, examine the financial and legal aspects of employment and
exercise effective employment search strategy
3. Find financial values, goals and strategies, practice basic financial statement
to measure financial health, assess financial strength and progress using
financial ratios, keep financial records necessary for managing personal
finances, outline and work toward achieving financial goals through budgeting.

IV. COURSE STRUCTURE

The course FME 2/ MME 2/ HRM Elec 3 (Personal Finance) consists of 5 units
divided into 8 modules as follows:

UNIT I. FINANCIAL PLANNING

Module 1 Writer/Contributor
Understanding Personal Finance Arabella B Pabilonia
Career Planning Arabella B Pabilonia
Financial Statements, Tools and Budgets Arabella B Pabilonia

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UNIT II. MONEY MANAGEMENT

Modules 2&3 Writer/Contributor

Managing Income Taxes Jennelyn Mercado
Managing Checking and Savings Accounts Jennelyn Mercado
Building and Maintaining Good Credit Jennelyn Mercado
Credit Cards and Consumer Loans Ruff Jon Florendo
Vehicle and Other Major Purchases Ruff Jon Florendo
Buying Your Home Ruff Jon Florendo

UNIT III INCOME AND ASSET PROTECTION

Module 4 Writer/Contributor
Managing Proper and Liability Risk Helen Libao
Managing Health Expense Helen Libao
Life Insurance Planning Helen Libao
UNIT IV INVESTMENTS
Modules 5&6 Writer/Contributor
Investment Fundamental Rivaolimae S. Calmada
Investing in Stocks and Bonds Rivaolimae S. Calmada
Investing Through Mutual Funds Rivaolimae S. Calmada
Real Estate and High- Risk Investment Clarita D Rector

UNIT V RETIREMENT AND ESTATE PLANNING

Modules 7&8 Writer/Contributor
[Link] Planning Flor R Penaranda
[Link] Planning Elsa Madriaga

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LEARNING OUTCOME #1

UNDERSTANDING PERSONAL FINANCE

Learning Objectives:
After reading this INFORMATION SHEET, YOU MUST be able to:
1. Practice the building blocks to achieving financial success.
2. Recognize how the economy affects personal financial success.
3. Apply economic principles when making financial decisions.
4. Make time value of money calculations.
5. Create smart decision about employee benefits.
6. Classify professional qualifications of providers of financial advice

1.1-1 The building blocks to achieving financial success

Personal finance is a term that covers managing your money as well as saving
and investing. It encompasses budgeting, banking, insurance, mortgages,
investments, retirement planning, and tax and estate planning. It often refers to the entire
industry that provides financial services to individuals and households and advises them
about financial and investment opportunities.

Personal finance is about meeting personal financial goals, whether it’s having
enough for short-term financial needs, planning for retirement, or saving for your child's
college education. It all depends on your income, expenses, living requirements, and
individual goals and desires4and coming up with a plan to fulfill those needs within your
financial constraints. But to make the most of your income and savings it's important to
become financially literate, so you can distinguish between good and bad advice and
make savvy decisions.

Financial Literacy is about knowledge of facts, concepts, principles, technological

tools that are fundamental to being smart about money. (Forgue, Personal Finance 9th
ed.) Having set of skills and knowledge will permit a specific person to create informed
and effective decision with all their financial assets.

To be financially responsible, one is accountable for their future peace of mind

protection. Financial responsibility means motivated to come up with good decisions in
personal finance. It also refers to the practice of properly handling money and other similar
assets in a way that is considered fruitful and is also in the best concern of individual, or
the family, or the business company.

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 Personal finance is a term that covers managing your money as well as saving
and investing. It encompasses budgeting, banking, insurance, mortgages,
investments, retirement planning, and tax and estate planning. It often refers to the entire
industry that provides financial services to individuals and households and advises them
about financial and investment opportunities.

Self-Assessment Questions 1.1-1

1. Define Financial Literary
2. How to be financially responsible

Answer to Self-Assessment Questions 1.1-1

1. FINANCIAL LITERACY - is about knowledge of facts, concepts, principles,
technological tools that are fundamental to being smart about money.
2. To be financially responsible, one is accountable for their future peace of mind
protection.

1.1-2. Recognize how the economy affects personal financial success

It is advised that to have financial success, individuals must save first before
spending. The formula is income less savings equals expenses (I-S=E). The pursuit of
financial success must achieve security, physical comfort, free time, peace of mind. It
should be translated into a series of financial milestones, specific assets, or levels of net
worth to be reached at each stage of your life. Example, at the age of 25 you want to have
your own car or you might want to purchase your own house at age 35.

How does the economy affects personal financial success? Economy is a system
of managing recourses of a country, state or community. It is a careful management of
available resources. When there is an increase on the production and consumption in
the economy over a period of time or another, then there is economic growth. Economy
grows and contracts over time. Economic cycle is also known as business cycle or trade
cycle. It consists of 4 stages, these are peak, trough, contraction and expansion.

A peak is the highest point between the end of an economic expansion and the
start of a contraction in a business cycle. The peak of the cycle refers to the last month
before several key economic indicators, such as employment and new housing starts,
begin to fall.

Expansion is the phase of the business cycle where real GDP grows for two or
more consecutive quarters, moving from a trough to a peak. Expansion is also referred
to as an economic recovery.

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 A trough is the stage of the economy's business cycle that marks the end of a
period of declining business activity and the transition to expansion.

Contraction, in economics, refers to a phase of the business cycle in which the

economy as a whole is in decline. A contraction generally occurs after the business cycle
peaks, but before it becomes a trough.

Self-Assessment Questions 1.1-2

1. What is the formula for financial success?
2. What is another name for Business cycle?
3. What are the four stages of Business cycle? Explain each.
Answer to Self-Assessment Questions 1.1-2
1. Income less Savings = Expense
2. Economic cycle
3. a. peak - the highest point between the end of an economic expansion and the
start of a contraction in a business cycle
b. trough - the stage of the economy's business cycle that marks the end of a
period of declining business activity and the transition to expansion
c. contraction - a phase of the business cycle in which the economy as a whole
is in decline.
d. expansion - the phase of the business cycle where real GDP grows for two
or more consecutive quarters, moving from a trough to a peak.
1.1-3 Economic Principles when Making Financial Decisions

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 The four principles of individual decision-making are a set of concepts posited by
Harvard economics professor and economic textbook author N. Gregory Mankiw. These
principles enable students to understand some of the motivational factors which guide
consumers in their interactions with other consumers in the market.
These principles enable students to understand some of the motivational factors which
guide consumers in their interactions with other consumers in the market.

1. People Face Trade-offs

This principle describes the decision-making process a person must go through

before an activity. When a consumer goes to purchase a product, he must consider that
the dollar he spends for the product represents a dollar that cannot be used to buy
another need or desire. This creates an important check on spending power and tends
to forcefully prioritize the consumer's spending practices. He first meets his needs
before fulfilling non-necessary desires. Marketeers are very aware of this principle and
will often market materials to consumers based on need.

2. The Cost of Something Is What You Give Up to Get It

A consumer who simply compares the price of items may not be correctly
calculating the true cost. Wise consumers will also take into account less-than-tangible
costs of a given action or purchase. For instance, an item that costs less but that
requires long-term manual maintenance may be more expensive in the long term, as
the owner will have to give up his time and effort to maintain it. His time could be better
spent earning money at his job.

3. Rational People Think at the Margin

Mankiw describes a rational person’s willingness to purchase a good as based on
the marginal benefit that one more element of that good will bring to the person. Mankiw
points to the difference in value between water and diamonds. A marginal increase in a
person’s water supply rarely comes at a significant cost. However, a marginal increase
in diamonds is extremely valuable.

4. People Respond to Incentives

There is a reason why consumers hold onto their hard-earned money until the next
big sale. Retailers often use marketing to incentivize consumer behavior, convincing
them to spend money now to save or earn a reward for later.

Self-Assessment Questions 1.1-3

1. What are the four economic principles in financial decision making?
Answer to Self-Assessment Questions 1.1-3

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 1. . People Face Trade-offs
2. The Cost of Something Is What You Give Up to Get It
3. Rational People Think at the Margin
4. People Respond to Incentives

1.1-4 Time Value of Money Calculations

The time value of money is a basic financial concept that holds that money in the
present is worth more than the same sum of money to be received in the future. This is
true because money that you have right now can be invested and earn a return, thus
creating a larger amount of money in the future. The time value of money is sometimes
referred to as the net present value (NPV) of money.

A specific formula can be used for calculating the future value of money so that it can be
compared to the present value.

Where:

FV = the future value of money

PV = the present value
i = the interest rate or other return that can be earned on the money
t = the number of years to take into consideration
n = the number of compounding periods of interest per year

Using the formula above, let’s look at an example where you have $5,000 and can
expect to earn 5% interest on that sum each year for the next two years. Assuming the
interest is only compounded annually, the future value of your $5,000 today can be
calculated as follows:

FV = $5,000 x (1 + (5% / 1) ^ (1 x 2) = $5,512.50

Present Value of Future Money Formula

The formula can also be used to calculate the present value of money to be
received in the future. You simply divide the future value rather than multiplying the
present value. This can be helpful in considering two varying present and future amounts.
In our original example, we considered the options of someone paying your $1,000 today
versus $1,100 a year from now. If you could earn 5% on investing the money now, and
wanted to know what present value would equal the future value of $1,100 3 or how much
money you would need in hand now in order to have $1,100 a year from now 3 the formula
would be as follows:

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PV = $1,100 / (1 + (5% / 1) ^ (1 x 1) = $1,047

The calculation above shows you that, with an available return of 5% annually, you
would need to receive $1,047 in the present to equal the future value of $1,100 to be
received a year from now.

To make things easy for you, there are a number of online calculators to figure the
future value or present value of money.

Net Present Value Example

Below is an illustration of what the Net Present Value of a series of cash flows
looks like. As you can see, the Future Value of cash flows are listed across the top of the
diagram and the Present Value of cash flows are shown in blue bars along the bottom of
the diagram.

Self-Assessment Questions 1.1-4

1. What is time value of money?
2. Compute the future value given the following data: $8,000 and can expect
to earn 8% interest on that sum each year for the next three years. Assume
the interest is only compounded annually.
3. Compute the present value given the following data: If you could earn 4%
on investing the money now, and wanted to know what present value would
equal the future value of $2,300 to be received 2 years from now.
Answer to Self-Assessment Questions 1.1-4
1. The time value of money is a basic financial concept that holds that money in the
present is worth more than the same sum of money to be received in the future.
2. FV = $8,000 x (1 + (8% / 1) ^ (1 x 3) = $ 10,077.70
3. PV = $2,300 / (1 + (4% / 1) ^ (1 x 2) = $2,126.48

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1.1-5 Smart Decision About Employee Benefits

What are the mandatory employee benefits in the Philippines?

The Philippine social security system covers old age, disability, death, sickness and
maternity. Private employees are covered under the state-run pension fund, the Social
Security System (SSS), while public sector employees and military personnel are
covered by the Government Service Insurance Scheme (GSIS).

There are four major types of employee benefits many employers offer: medical
insurance, life insurance, disability insurance, and retirement plans. Below, we've loosely
categorized these types of employee benefits and given a basic definition of each.

1. Medical
The most common (and often most essential) type of benefits employers can offer is
medical coverage. The costs of health insurance, doctors and hospital visits, dental work,
vision care, and prescriptions are rapidly increasing and employees are finding it more
and more difficult to deal.
Unexpected medical expenses can cripple uninsured employees in an instant and that is
why most talented employees have been cultured to expect basic medical coverage.
To help with these expenses, some employers offer savings plans like the Flexible
Spending Account or Health Reimbursement Account. These savings accounts will cover
eligible expenses like:
 Copays and prescriptions
 Eyeglasses and contacts
 First aid kits
 Daycare expenses

2. Life
Another common employee benefit is life insurance or accidental death and
dismemberment insurance. If one of your employees pass away, life insurance benefits
will provide payments to the employee’s family to cover funeral costs and ongoing living
expenses. If you’ve been involved with this process then you understand the incredible
financial burden this can be on a family.
Accidental death and dismemberment insurance, or AD&D, provides a lump sum
payment if death or dismemberment of an employee is the direct result of an accident. If
the employee has both insurance benefits (life and AD&D) and they die due to an
accident, both coverages will be paid to the families or beneficiaries.
Here is how that would work: If an employee has employer-paid group basic life and
AD&D of $20,000 and also elects $30,000 supplemental life and AD&D for a total of
$50,000 in coverage.

 Example 1: If the employee dies of a heart attack (no accident) 3 benefit pays
$50,000 ($20,000 basic life insurance and $30,000 supplemental life insurance)

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  Example 2: Employee dies in an auto accident (accident) 3 benefit pays $100,000
($50,000 life insurance, $50,000 AD&D insurance)
 Example 3: Employee loses an eye in an auto accident but doesn’t die 3 benefit
pays a portion of the accident insurance for loss of limb (dismemberment insurance)

Expert Tip 3 If you currently offer one or both of these benefits to your employees, our
client service team recommends that you check to make sure each of your employees
has a beneficiary selected and it’s up-to-date. It’s tragic when something happens and
this piece is found to be missing.

3. Disability
Employers can offer short-term and/or long-term disability insurance to their employees.
If an insured employee is injured or has a lengthy illness, the benefit pays them during
the period of time they are unable to work.
Short-term disability pays a portion of an employee’s salary if they become temporarily
sick or are unable to work. For example: If an employee is out with a hernia, they might
receive short-term disability payments.
In the event of a more permanent illness or injury preventing an insured employee from
performing their duties, that employee would receive long-term disability payments.

4. Retirement
This allows employees to deduct a certain percentage of each paycheck to put
towards retirement savings. Some businesses choose to match the employee’s
deduction or up to a certain percentage.

Self-Assessment Questions 1.1-5

1. What are the mandatory employee benefits in the Philippines?
2. What are the four major types of employee benefits many employers offer?
Answer to Self-Assessment Questions 1.1-5
1. The Philippine social security system covers old age, disability, death, sickness
and maternity. Private employees are covered by Social Security System while
public sector employees and military personnel are covered by the Government
Service Insurance Scheme (GSIS.
2. There are four major types of employee benefits many employers offer are medical
insurance, life insurance, disability insurance, and retirement plans.

1.1-6 Professional Qualifications of Providers Of Financial Advice

A true financial planner should be able to analyze a total family’s needs in such areas as
investment, taxes, insurance, educational goals, and retirement.

Here are the top 10 financial certifications to look for when working with a financial
adviser.

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1. CPA 3 Certified Public Accountant
A CPA license is for accountants, tax preparers and financial analysts. It is one of the
more widely recognized financial certifications in the industry. This certification is
administered by the American Institute of CPAs (AICPA). It requires 150 hours of
coursework and then passing a rigorous exam. A CPA can be helpful for those looking
for financial advice regarding reducing taxes and organizing investments.

2. CFP 3 Certified Financial Planner

Certified financial planners are well-versed in topics across the financial field. They
assess their clients’ full financial portfolio and then provide personalized financial plans.
To become a CFP, a professional must complete a set of courses, then pass a seven-
hour test. The test is administered by the CFP Board. The pass rate is below 70%. If you
work with financial planners with a CFP, you know they know their stuff!

3. ChFC 3 Chartered Financial Consultant

The ChFC certification was created as an alternative to the CFP certification. The
program offers specialties beyond the CFP’s essentials. A charted financial consultant is
who you should work with if you have a niche need, such as financial planning for divorce
or small business planning. The course is run by the American College of Financial
Services and requires four months of study and testing.

4. CFA 3 Chartered Financial Analyst

A CFA, or chartered financial analyst, is an expert in investments and securities. The
certification is administered by the CFA Institute, which calls the CFA credential <the most
respected and recognized investment management designation in the world.= The
program requires candidates to master 10 investment topics and also pass three levels
of rigorous exams. Working with a CFA is an excellent choice if you are looking for an
investment manager.

5. CIC 3 Chartered Investment Counselor

A CIC is a subset of the CFA designation specifically for those working in investment
counseling and portfolio management. To be eligible to earn a CIC designation, a
candidate must be working at an Investment Adviser Association-member firm and have
at least five years’ experience. Candidates also need character and professional
references and to work as a fiduciary. You should seek a CIC if you have a large portfolio
and need an experienced, high-level expert to manage your investments.

6. FRM 3 Financial Risk Manager

An FRM is a risk-management specialist. Holders of this certification are likely to be found
working in banks as risk analysts. They can also deal with private clients needing
investment advice. To earn an FRM, candidates must pass a two-part, eight-hour multiple
choice test administered by the GARP. The pass rates are often below 50%.

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7. CLU 3 Chartered Life Underwriter
A CLU is the best certification for insurance agents. There is no comprehensive exam,
but candidates have to take eight courses administered by the American College of
Financial Planning. Chartered life underwriters are experts in life insurance, estate
planning and risk management.

8. CAIA 3 Chartered Alternative Investment Analyst

The CAIA is for professionals managing alternate investments, such as hedge funds and
real assets. The charter program, run by the CAIA Association, takes about a year to
complete and includes coursework as well as exams. If you are interested in putting some
of your portfolio into alternate investments, these are the experts to work with.

9. CMFC 3 Chartered Mutual Fund Counselor

If you are looking to invest specifically in mutual funds, you may want to work with a
charted mutual fund counselor. Holders of this designation are experts in mutual funds.
To become a CMFC, candidates must complete a 10-week course and then pass exams
administered by the College for Financial Planning. Coursework specifically prepares
designees to understand the complexities of the field of mutual funds and other packaged
investment products.

10. CMA 3 Certified Management Accountant

A CMA is an expert at management accounting. These individuals often work on the
corporate side, rather than in a private accounting practice. They use their skills in both
accounting and management to make strategic financial business decisions. The IMA
administers the CMA exam, which has two parts and tests for 11 financial competencies.

How do financial planners get compensated?

There are three main ways financial planners make money: Client fees, usually charged
either on an hourly basis or as a percentage of client assets under management.
Commissions for certain financial transactions, such as the sale of insurance products or
the buying and selling of securities and Salaries earned by on-staff advisors.

Client Fees

Many financial advisors and firms will earn fees directly from their clients. A management
fee (for investment management services) is frequently charged a percentage of the
assets they’re managing on your behalf. If a financial advisor is managing $1,000,000
worth of investments for you, and they charge a 1.5% management fee, you’d pay
$15,000 on the year. Often those fees would be charged on a quarterly basis.

Fee percentages might differ depending on how much you have invested with an advisor,
with many firms lowering their percentage for larger account balances.

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Some advisors also include performance fees in their fee schedules, allowing them to
charge additional fees to clients in exchange for exceeding certain return benchmarks.

An advisor might also charge a flat or hourly fee, usually for financial planning services.
For instance, a firm may charge $250 an hour for financial planning, or a flat fee of $1,000
for a specific service.

Commissions

In this type of fee arrangement, a financial advisor makes their money from commissions.
These fees are earned when they recommend and sell specific financial products, such
as mutual funds or annuities, to a client. For example, you might invest $5,000 into a
mutual fund your advisor recommends; in turn, they receive a 3% commission fee,
earning them $150. Similar commission may come their way if they sell an annuity to a
client.

Salaried advisors

Some advisors are paid a salary from the investment firm that employs them, rather than
earning commissions or charging fees. These advisors may also have opportunities to
earn bonuses or incentives for meeting certain milestones, such as onboarding a certain
number of new clients each year.

Fee Structures: Fee-Only and Fee-Based

A firm’s sources of income determine whether they are considered a fee-only or fee-
based advisory.

A fee-only financial advisor doesn’t get paid via commissions. Instead, the sole source of
income are fees charged to clients for the services they provide (again, potentially
including both percentage-based management fees and flat or hourly financial planning
fees).

A fee-based advisor, by contrast, earns revenue from a combination of client fees and
commissions. They charge fees to you directly for managing your assets or providing
financial planning, while also earning some commissions on the side.

Commissions represent a potential conflict of interest: They incentivize your advisor to

recommend certain transactions and products. And you want to make sure the advice
you’re getting is tailored to your needs, and not tied into how much money the advisor
could potentially make if you choose to buy an annuity. With this in mind, some experts
recommend only using a fee-only advisor.

One important thing to note when comparing fee-only and fee-based advisors has to do
with whether or not your advisor is held to a fiduciary standard. A fiduciary is held to a
higher ethical standard and is required to act in your best interests at all times.
Any registered investment advisor (RIA) is held to such a standard as part of their
registration with the SEC. This standard might be a mitigating factor when considering a

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fee-based advisor; while such an advisor is incentivized to recommend certain
transactions, those transactions must still be in your best interests.

Self-Assessment Questions 1.1-6

1. What are the areas of the family needs that a true financial planner should be able
to analyze?
2. What are the top 10 financial certifications to look for when working with a financial
adviser?
3. How do financial planners get compensated?

Answer to Self-Assessment Questions 1.1-6
1. A true financial planner should be able to analyze a total family’s needs in such
areas as investment, taxes, insurance, educational goals, and retirement.

2. The top 10 financial certifications to look for when working with a financial
adviser are:

a. CPA 3 Certified Public Accountant

b. CFP 3 Certified Financial Planner
c. ChFC 3 Chartered Financial Consultant
d. CFA 3 Chartered Financial Analyst
e. CIC 3 Chartered Investment Counselor
f. FRM 3 Financial Risk Manager
g. CLU 3 Chartered Life Underwriter
h. CAIA 3 Chartered Alternative Investment Analyst
i. CMFC 3 Chartered Mutual Fund Counselor
j. CMA 3 Certified Management Accountant
3. There are three main ways financial planners make money: Client fees, usually
charged either on an hourly basis or as a percentage of client assets under
management. Commissions for certain financial transactions, such as the sale
of insurance products or the buying and selling of securities and Salaries
earned by on-staff advisors.

Assignment Sheet 1.1-1

Research on good financial behavior of your friends and relatives.

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Reference
[Link]
[Link]
of-employee-benefits/
Career Planning Garman/Forgue Personal Finance Tenth Edition PPT slide program
prepared by Amy Forgue and Ray Forgue

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LEARNING OUTCOME #2
LEARN CAREER PLANNING

Learning Objectives:

After reading this INFORMATION SHEET, YOU MUST be able to:

1. Recognize the key steps in successful career planning.
2. Explain work-style personality.
3. Examine the financial and legal aspects of employment.
4. Exercise effective employment search strategies

2.1-1 Key Steps in Successful Career Planning

A career may be defined as a sequence of jobs that constitute what a person does for a
living. It is also known as the lifework chosen by a person to use personal talent,
education, and training

According to Schermerborn, Hunt, and Osborn, Career planning is a process of

systematically matching career goals and individual capabilities with opportunities for their
fulfillment’. It is also known as Finding employment that will use your interests and abilities
and that will support you financially.

Steps in Career Planning

1. Create Your Career Goal and Plan - Identify your Career Goal  Develop a Career
Plan.
2. Clarify Your Interests - Professional interests are long-standing topics and
activities that engage your attention.  Interest Inventories: Scaled surveys that
assess career interests and activities.
3. Review Your Abilities, Experiences and Education - Abilities (Professional abilities,
Aptitudes)  Experiences  Education and professional training
4. Identify Your Values - Principles, standards, or qualities that you consider
desirable.
5. Consider Costs, Benefits, and Lifestyle Trade-offs. - Weigh cost and benefits of
various career options.  Identify lifestyle trade-offs resulting from various career
options.

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 6. Align Yourself with Tomorrow’s Employment Trends - What are the likely high-
wage and high- growth occupations in the years to come?
7. Take advantage of networking - Professional Networking: Making and using
contacts with individuals, groups, and other firms to exchange career information.
8. Target preferred employers - Preferred Employer: Employers that would suit you
best.
9. Be willing to change career goals and plans - Your career plan should be realistic.
Your career plan should be flexible. Reassess your career every few years.

Self-Assessment Questions 2.1-1


1. Distinguish between a job and a career.
2. How do your values affect your trade-offs in career planning?
3. What can be done to enhance your abilities and experiences without working
in a job situation?
4. What can be done to enhance your abilities and experiences without working
in a job situation?
5.

Answer to Self-Assessment Questions 2.1-1
1. Distinguish between a job and a career.

A career may be defined as a sequence of jobs that constitute what a person

does for a living. Career as the lifework chosen by a person to use personal
talent, education, and training

A job is more short-term oriented and tends to focus purely on earning

money. On the other hand, a career is a series of related employment in one
field that provides experience for your future and helps you earn a better
paycheck and living status.

2. How do your values affect your trade-offs in career planning?

Values are comprised of the things you think and believe are essential in the
way you work and live your life. Values are what should help you identify
priorities both at work and in life. It is also your values that you can use to
determine whether the things that are going on in your life are part of your plans
or intentions.
3. What can be done to enhance your abilities and experiences without working
in a job situation?

A skill set is a combination of abilities, qualities and experiences you can apply
to perform tasks well. These can include soft skills such as interpersonal skills,
organization and leadership as well as technical skills such as research,
computer programming, accounting writing and more.

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 Spending time on improving your skills can help you achieve personal career
goals such as earning a promotion or becoming an expert on a certain topic.
Your skill set can be applied to progress in your current career or expanded to
earn a job in a different field or industry
4. What can be done to enhance your abilities and experiences without working
in a job situation?

Your career plan should be realistic. Your career plan should be flexible.

2.1-2 Know your Preferred Work-Style Personality

People have preferences in three areas based on their personality

a. Work conditions - refers to the working environment and all existing circumstances
affecting labor in the workplace, including job hours, physical aspects, legal rights
and responsibilities

b. Work purposes - Work, besides making money, is meaningful daily life activity 4
making something, serving someone, providing something of worth to others
(either individually or to the community in which you live [local or globally])

c. Work relationships. there are at least four types of relationships that produce these
results:
 social support - This means both seeking and providing support to another
person. As a business owner or leader that is seeking, focus on engaging with
someone you can trust, someone who is interested in your well-being. A good
way to define this person is <normally our conversations improve the situation,
not hinder it.= A peer advisory group may be a good option to consider for
social support.
 Mentoring - is a great win-win relationship. As a mentor, you usually are
teaching on a competency you already are familiar with. And it is proven that
teaching is the most effective way to become even more proficient on a subject.
The mentees win because they are increasing their aptitude via the positive
advice and support of the mentor.
 service of others - Doing good deeds for others, acts of kindness, helping
others, and even community projects4these are all ways to serve others.
There have been some great examples of how random acts of kindness trigger
a succession of events. One recently in the news was a driver who paid the toll
of the next person, who decided to pay for the next person, too. Each recipient
repeated the gesture for hours at a toll booth.
 role models. This is the relationship of modeling after someone else to make
yourself better, someone you want to emulate. Nelson Mandela and Mother
Teresa were two individuals who inspired millions. What made them stand out
as role models were the value systems they lived by. Mandela spent 27 years
in prison because of what he believed in, and Mother Teresa dedicated her life
to serving the poorest of the poor.

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Self-Assessment Questions 2.1-2
1. Summarize the three major parts of YOUR work-style personality
2.
Answer to Self-Assessment Questions 2.1-2
1. Summarize the three major parts of YOUR work-style personality
a. Work conditions
b. Work purposes
c. work relationships

2.1-3 The Financial and Legal Aspects of Employment.

Compare Salary and Living Costs in Different Cities.

Salary - a form of payment from an employer to an employee, which may be specified in

an employment contract. It is contrasted with piece wages, where each job, hour, or other
unit is paid separately, rather than on a periodic basis. From the point of view of running
a business, salary can also be viewed as the cost of acquiring and retaining human
resources for running operations, and is then termed personnel expense or salary
expense. In accounting, salaries are recorded on payroll accounts.

Salary is a fixed amount of money or compensation paid to an employee by an employer

in return for work performed. Salary is commonly paid in fixed intervals, for example,
monthly payments of one-twelfth of the annual salary.

Cost of living - is the amount of money needed to sustain a certain standard of living by
affording basic expenses such as housing, food, taxes, and healthcare. The cost of living
is often used to compare how expensive it is to live in one city versus another. The cost
of living is tied to wages. If expenses are higher in a city, such as New York, for example,
salary levels must be higher so that people can afford to live in that city.

The cost of living can be a significant factor in personal wealth accumulation because a
salary can provide a higher standard of living in a city where daily expenses such as rent,
food and entertainment are less. In contrast, a high salary can seem insufficient in an
expensive city such as New York.

The cost of living index compares the cost of living in a major city to a corresponding
metropolitan area. The index incorporates the expense of various living expenses
creating an aggregate measure that workforce entrants can use as a benchmark. As
college graduates weigh employment alternatives and currently employed job seekers
consider relocation, the index provides an informative snapshot of rental, transportation
and grocery costs.

Identify Employee (or No salary) Benefits

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 Employee benefits are defined as indirect, non-cash, or cash compensation paid to
an employee above and beyond regular salary or wages. Some employee benefits are
required by law. For example, employers are required to make payments on employees'
behalf for Social Security and Medicare.

Employee Benefit Examples

 Paid time off such as Paid Time Off (PTO), sick days, and vacation days.
 Health insurance.
 Life insurance.
 Dental insurance.
 Vision insurance.
 Retirement benefits or accounts.
 Healthcare spending or reimbursement accounts, such as HSAs, FSAs, and HRAs.
 Long term disability insurance.

Know Your Legal Employment Rights.

All employees have basic rights in the workplace 4 including the right to privacy, fair
compensation, and freedom from discrimination. Those rights include the right to be free
from discrimination based on age, gender, race, national origin, or religion during the
hiring process

The Bureau of Working Conditions, a staff department of the Department of Labor and
Employment, compiled a list of Basic Rights that every worker is entitled to. These rights
ensure the safety and health of all workers.

1. Equal Work Opportunities for All

The State shall protect labor, promote full employment, provide equal work opportunity
regardless of gender, race, or creed; and regulate relations between employees and
employers.

2. Security of Tenure
Every employee shall be assured security of tenure. No employee can be dismissed from
work except for a just or authorized cause, and only after due process. Just cause refers
to any wrongdoing committed by an employee; authorized cause refers to economic
circumstances that are not the employee’s fault.

3. Work Days and Work Hours

An employee must be paid their wages for all hours worked. If their work hours fall
between 10:00 p.m. and 6:00 a.m., they are entitled to night shift pay in addition to their
pay for regular work hours. If they work over eight hours a day, they are entitled to
overtime pay.

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4. Weekly Rest Day
A day-off of 24 consecutive hours after six (6) days of work should be scheduled by the
employer upon consultation with the workers.

5. Wage and Wage-Related Benefits

Wage is the amount paid to an employee in exchange for to the service that they rendered
to their employer. Wage may be fixed for a given period.

6. Payment of Wages
Wages should be paid directly to the employee in cash, legal tender, or through a bank.
Wages shall be given not less than once every two weeks or twice within a month at
intervals not exceeding 16 days.

7. Female Employees
Women are prohibited from engaging in night work unless the work is allowed by the
following rules: industrial undertakings from 10 p.m. to 6 a.m., commercial/non-industrial
undertakings from 12 midnight to 6 in the morning, or agricultural takings at night provided
that she has had nine consecutive hours of rest.

Welfare facilities, such as separate dressing rooms and lavatories, must be installed at
the workplace.

8. Employment of Children
The minimum employment age is 15 years of age. Any worker below 15 years of age
should be directly under the sole responsibility of parents or guardians provided that work
does not interfere with the child’s schooling or development.
The minimum age of employment is 18 years for hazardous jobs, and 15 years for non-
hazardous jobs.

9. Safe Working Conditions

Employers must provide workers with every kind of on-the-job protection against injury,
sickness or death through safe and healthful working conditions.

10. Rights to Self-Organization and Collective Bargaining

Every worker has the right to self-organization, i.e., to form or to join any legitimate
workers’ union, free from interference of their employer or the government. All workers
may join a union for the purpose of collective bargaining and is eligible for union
membership on the first day of their employment.

Collective bargaining is a process between two parties, namely the employer and the
union, where the terms and conditions of employment are fixed and agreed upon. In
collective bargaining, the two parties also decide upon a method for resolving grievances.
Collective bargaining results in a contract called a Collective Bargaining Agreement
(CBA).

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Self-Assessment Questions 2.1-3
1. Summarize how education level and age affect income
2. Explain how to compare salary and living costs in different cities
3. Explain how to compare salary and living costs in different cities
4. Choose three career advancement tips and explain.

Answer to Self-Assessment Questions 2.1-3
1. Summarize how education level and age affect income
In the Philippines, an important part of income inequality is associated with the wage
difference between the less educated and the better educated. The majority of the least
educated are employed in low-paid services jobs and the agricultural sector. Tertiary
education is to a large extent a prerequisite for high-paid occupations.

According to Department of Labor and Employment, the minimum employment age is 15

years of age. Any worker below 15 years of age should be directly under the sole
responsibility of parents or guardians provided that work does not interfere with the child’s
schooling or development.
The minimum age of employment is 18 years for hazardous jobs, and 15 years for non-
hazardous jobs.

A commonly overlooked reason for the difference in income levels among taxpayers is
the life cycle issue. As we mature and gain work experience, our incomes tend to rise;
income typically peaks when we near retirement.

2. What two techniques can be used to place monetary values on employee benefits

Researchers have used 2 common methods to measure benefit value: attaching

a monetary value to benefits and using self-reports of benefit importance. The present
authors propose that the 2 approaches are conceptually distinct and have different
implications.

3. Explain how to compare salary and living costs in different cities

The cost of living is the amount of money needed to sustain a certain standard of living by
affording basic expenses such as housing, food, taxes, and healthcare. The cost of living
is often used to compare how expensive it is to live in one city versus another. The cost
of living is tied to wages. If expenses are higher in a city, salary levels must be higher so
that people can afford to live in that city.

4. Choose three career advancement tips and explain.

 Set goals and create a plan to achieve them. Could your career development
and management use help to gain momentum? People who are the most
successful and satisfied in their careers have proactively determined what they
want from work.

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  Develop a timeline, including milestones. Bringing your boss and their
sponsorship and mentoring into the picture will ensure that you have an internal
mentor who will help you manage your career.
 Utilize company programs. Some companies have formal programs to help
employees develop their careers. In others, you will need to informally pursue your
career development. Companies with programs generally focus energy on helping
employees develop and follow a career path.
 Own your career path. A career path can be discussed at several bi-annual
meetings with your boss. Some companies demonstrate a deep commitment to
their employees by assisting where possible with resources of time and dollars.
However, remember that it is your career path.
 Write it down. Career paths are recommended for the same reason that goals are
recommended. They are the written plan that can help each employee take charge
of what is most important to his or her fulfillment and success. Without a plan, you
can feel rudderless and you have no benchmark against which you can measure
your progress.

2.1-4 Exercise Effective Employment Search Strategies

Assemble a Résumé.

Resume or résumé is a document created and used by a person to present their

background, skills, and accomplishments. Résumés can be used for a variety of reasons,
but most often they are used to secure new employment. A typical résumé contains a
"summary" of relevant job experience and education.

Resume can employ a:

a. Chronological:

 What is it - Chronological resumes are the most commonly used format. They list
work history in chronological order, starting with your most recent job down to your
earliest. This resume is preferred by most employers because it provides a quick
snapshot of work history, with most recent positions up front.
 Who should use - If you have a solid work history, your experience is aligned with
the job you are applying to, and you have no lapses between employment, use this
format

Example:

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 a. Functional Resume:
 What is it - Unlike chronological resumes, functional resumes focus on your skills
and experience first. This type of resume de-emphasizes the dates in which you
have worked. Employment history is secondary, and is listed under the details of
your skills.
 Who should use - If you have lapses in employment, are in the middle of a career
transition, are a recent college grad with limited work experience, or have a diverse
background with no clear career path, this is the most effective type of resume.

Example:

b. Combination Resume:
 What is it - Combination resumes let you detail both your skills and experience,
while also backing this up with a chronological listing of work history. Flexible in
nature, the combination resume lets you tailor to the prospective job opening and
tell hiring managers a story.
 Who should use - Use this resume if you want to detail work experience to show
hiring managers the type of employee you are.

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 c. Targeted Resume:

 What is it - Targeted resumes are customized in detail to the prospective job you
are seeking. Everything from your objective, your qualifications to educational
experience mirrors the job requirements.
 Who should use - These resumes are the most time-consuming, but can generate
the best results as the qualifications and experience you outline mirror the
prospective job opening closely. Be careful, however When you develop a targeted
resume you need to be as accurate as possible and not embellish career highlights
simply to mirror the job.

Job Opportunities

The phrase "Job opportunity" is used by recruiters when they are trying to convince you
to apply for a job. They are trying to convey a feeling that this is a rare "opportunity" that
you should snatch quickly, otherwise you will regret for the rest of your life. Well actually,
it can be extremely difficult to land a job. With this being the case, it is imperative that
people first attempt to identify the job opportunities and vacancies that are available. Here
are some examples of where to look to find that perfect job opening.
Identify Job Opportunities, Using:

o The Internet - The Internet provides you with many options and tools for a
comprehensive job search. You can identify job openings throughout the
world, locate and copy files of employer literature, exchange messages with
professionals in your field, share ideas and information with specialty user
groups, and find advice on résumé writing, interviewing, etc. Employers

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 increasingly use the Internet as a recruiting tool. Many job search services
and resources on the Internet are free to job seekers, but some are not.

o Career Fairs - A career fair can be defined as an event that is generally held
for the public that allows employers to gain information from prospective job
candidates. Although career fairs are typically hosted by employers and
schools, other types of recruiters can also take part in career fairs and
obtain information from prospective candidates for their own unique
purposes. Individuals seeking to know about job opportunities should attend
career fairs because the employers are able to give specific information
about which jobs are available at their companies, along with how to apply
for them.

In many instances, the employers may be able to provide people with a

paper application or instruct them on how to apply for job vacancies online.
Individuals attending a career fair should also dress professionally because
an on-site interview may be a possibility.

o Classified Advertisements - Classified advertising is a form

of advertising which is particularly common in newspapers, online and other
periodicals which may be sold or distributed free of charge. Classified
advertisements are much cheaper than larger display advertisements used
by businesses, although display advertising is more widespread. Job
advertisement is One of the small advertisements in a newspaper,
magazine, or on a website that offers a job. To find job opportunities in your
area, look through classified ads and sign up with
local employment recruiters.

o Employment Agencies - An employment agency is an agency that exists for

the sole purpose of making money by trying to match job applicants to jobs
which may be best suited for them. These employment agencies are
valuable because not only do they inform people about vacant job
opportunities, but they are also hired by organizations to find qualified job
prospects for them.
This connection with an organization is beneficial because if the
employment agency likes you, then you have a higher probability of landing
a job with the organization. Although many of these employment agencies
are temporary, they allow a person to get his foot in the door and make a
great impression, which often leads to permanent employment with the
company.

Write an Effective Cover Letter.

Cover Letter - Letter of introduction sent to a prospective employer to get an interview. It

is also known as a written document commonly submitted with job application outlining
the applicant's credentials and interest in the open position.

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Obtain strong reference letters.

Strong Reference is a recommendation letter from a known personality who will explain
who you are and why you are qualified to recommend as candidate. He/She will write a
line or two of praise about your professional and personal strengths, perhaps with a
summary of the main points you will present in the rest of the letter.

Apply

A job application is an official form that employers ask all applicants for a position to fill
out. You may fill out the application through a third-party job listing site or by visiting the
website of the potential employer. Some employers may ask you to fill out a
paper application

Interview for success.

During a job interview, your interviewer might ask a question like, how do you
evaluate success? or How do you define success? This is an open-ended question,
without a right or wrong answer, and it provides a super opportunity for you to
demonstrate, through your answers and body language, the qualities that most.

Job Interview

Formal meeting between employer and potential employee to discuss job qualifications
and suitability.

Make some research before the interview.

 The company’s culture, mission and values. Being equipped with the company’s
views on things like flexible working hours and locations, as well as other cultural
values such as their input to employee development can help you prepare your own
questions at the end of the interview.

 The company’s recent achievements and news. This is an effective tool especially
when wanting to find out about the company’s recent involvement in industry events
and the community, as well as achievements and other general news. Another great
tip; search the company’s name in the News= section of Google to find out information
they may not be willing to self-publish. This will help give you a more balanced and
realistic view of the company you may work for in the future.

Insider information such as remuneration, employee functions and the hiring

process. Use company reviews to read honest reviews from past and present
employees on the kind of topics you wouldn’t read elsewhere. You will find people
sharing their thoughts and first-hand experiences from managerial styles to monetary

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 bonuses. Davidson also says, make sure you know your interviewer’s full name and
how to pronounce it, as well as their title.

Other important things to learn about a company include the skills and experience the
company values in their employees, as well as their clients, products and services - so
you can tailor your responses and questions accordingly.

Compile revealing personal stories.

Tell me about yourself= is an interview classic, and you can pretty much rely on it being
asked the first thing. And for that reason, you should treat it as the awesome opener it
has the potential to be by developing a storied answer.

To answer this question truthfully, show who you are as a person, what excites you,
your values and strengths and how you’ve operated in previous positions.
Present who you are and why you think you are a great candidate for the position the
most compelling way possible.

The interviewer is not asking for a synopsis of your resume. The best bet here is a
minute-long elevator pitch that frames how your experiences make you the candidate
for the job.

Prepare questions to ask the interviewer.

An interview is a two-way street. Your potential employer is asking you questions to learn
about you and your skills. In return, you need to prepare questions to ask your interviewer
about the position, your boss, and the company in order to be sure that this is the right
job for you.

In addition, if you do not prepare smart questions, you run the risk of the interviewer
assuming you are not interested or have not prepared.

Your opportunity to ask questions usually comes at the end of the interview. You must
prepare at least two questions that demonstrate your interest in the position, your drive
to excel in the role, and the fact that you have done some homework.

Prepare responses for anticipated interview questions.

As you prepare for your interview, you may be considering which questions the employer
is going to ask you. While there is no way to know for sure what topics will be covered,
there are several popular interview questions you can expect to be asked.

Every interviewer is different and their questions may vary. By preparing answers for
common interview questions, you can develop compelling talking points to make a great
impression during your next job interview.

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Create positive responses to negative questions.

In any interview, it is quite possible that you will be faced with having to answer questions
that require you to give what seems to be a negative response. The trick in any situation
like this is to turn the potentially negative situation into a positive one, without being
defensive but making sure you stay calm and collected.

Often, an interviewer will be deliberately trying to expose you to this kind of question to
see just how well you respond to such pressure. Such questions can quickly separate
out the stronger candidates from the weaker ones so it is essential that you remain calm
when the question is posed to you so that you can answer with confidence and
conviction. To answer negative interview questions, do not give a pithy or witty answer.
Show self-awareness of personal weaknesses and explain how you overcome the
negative aspect and, most importantly, what you learned from the situation. Be
Honest, whatever you do, do not lie to make yourself look better. Do not shy away from
the bad stuff, just show how you created a positive outcome or have learned and improved
as an employee or a person. Keep it Professional, this shows how you work through
professional issues in a balanced and respectful way. Focus on the Outcomes, the best
answer to a negative question will show what you learned and how you grew from the
experience. Show the interviewer that you were able to use your skills and strengths to
manage the situation and things you have learned that will make it easier to tackle such
situations in future.

Be ready for telephone/video call/ online interviews.

What is a phone interview and what role does it play in the hiring process? Many
companies use phone calls with candidates who look good on paper to determine if those
applicants are ready to move to longer, more in-depth interviews. This is sometimes
called a phone screen.

During this call, you will typically speak with a recruiter rather than the hiring manager.
This is a critically important part of your job search. If all goes well, the recruiter will move
you onto the next stage. But if they come away with a poor or incomplete impression of
you, things are unlikely to progress.

Because this conversation usually lasts 30 minutes or less, consider a phone interview
your opportunity to sum up what is most attractive to you about the job and the company,
as well as the skills and qualifications you bring to the table.

After the interview, evaluate it and send a thank-you note

Sending a thank-you letter after an interview should be an important part of any job-
hunting strategy. Whether or not you send a thank-you note could actually determine if
you get the job.

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Too bad three out of four job seekers don’t even bother sending a thank-you note after
an interview, according to a survey of human resources (HR) managers. The survey
found that only 24% of HR managers receive thank-you notes from applicants. However,
80% of HR managers say thank-you notes are helpful when reviewing candidates.
Sending a well-crafted and timely thank-you letter after an interview can add a positive
impression to an already positive connection.

Negotiate

Negotiating a new offer may feel uncomfortable, but a little discomfort is worth it. This is
your best chance to increase your salary and improve the conditions of your new job.
Once you have accepted a job, you lose your leveraging power.

The best negotiators know what they want and are armed with information about what is
negotiable and to what degree. Before you have your first interview, you should begin
thinking about what conditions are most important to you and what you want from your
new job.

Salary is not the only negotiable on the table. Based on what you need and want, any of
these items may be negotiable. Before you have an interview, look at list below and select
the top two to three items most important to you. Once you have done this, prioritize which
ones are most important to you.

 Salary
 Job title
 Start date
 Vacation/PTO
 Reporting relationships
 Decision-making/Level of authority
 Relocation expenses
 Memberships, association dues, subscriptions
 Signing bonus, bonuses
 Laptop, mobile phone, home office technology
 Auto (car, mileage)
 Flex-time/job share schedule
 Training/re-certification costs
 Remote or virtual work
 Severance provisions
 Terms of contractual relationship
 Budget management, access to resources
 Stock options
Every company has different ideas about what they are willing to negotiate. Therefore, it
is up to you to research specific companies prior to the interview process.

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 Accept the job

t’s easy to get caught up in the excitement of a job offer but before you say accept the
position, there are some important things to think about.
Do you think this job will be a good fit for you? Do you think it will suit you?
What makes a job a good fit? Ask yourself:
 Will it challenge you?
 Do you enjoy the tasks you will be required to do?
 Do your values and the company values match?
 Does the company support your career progression?
 Does the remuneration match your lifestyle?

If, after some serious thought, you are happy to accept the job offer, then it’s time to
formally accept.

Top 3 Financial Missteps in Career Planning

People slip up in career planning when they do the following:

[Link]’t learn as much as possible about a company before going for an interview.

[Link] to match your interests and preferred work style with the requirements of the
career.

[Link] to network by not getting involved in professional associations.

Self-Assessment Questions 2.1-4

1. Explain how networking can be used to one’s advantage in career planning.
2. Summarize the best methods to identify job opportunities
3. List five suggestions for interviewing with success

Answer to Self-Assessment Questions 2.1-4
1. Explain how networking can be used to one’s advantage in career planning
Your network can become a source of fresh ideas and perspectives on your current
job role or your desired career path. Yourself and others can offer and exchange
advice from different experiences in the work industry, helping you gain new
insights.
2. Summarize the best methods to identify job opportunities
The Internet - The Internet provides you with many options and tools for a
comprehensive job search.
Career Fairs - A career fair can be defined as an event that is generally held for the
public that allows employers to gain information from prospective job candidates.
Classified Advertisements - One of the small advertisements in a newspaper,
magazine, or on a website that offers a job. To find job opportunities in your area,
look through classified ads and sign up with local employment recruiters

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 Employment Agencies - An employment agency is an agency that exists for the sole
purpose of making money by trying to match job applicants to jobs which may be best
suited for them.
3. List at least five suggestions for interviewing with success
 Dress to gain trust and command respect.
 Show up in the office five minutes before your appointment time.
 Arrive prepared.
 Select real-life examples that display key hiring traits.
 Have a conversation.

Assignment Sheet 2.1-1
1. Prepare or update your résumé.
2. Contact your school’s placement office to explore careers in your field.
3. Chat one of your professors to seek a mentoring relationship.

Reference
Career Planning Garman/Forgue Personal Finance Tenth Edition PPT slide program
prepared by Amy Forgue and Ray Forgue

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 Learning Experiences

LEARNING OUTCOME #3
FINANCIAL STATEMENTS, TOOLS AND BUDGETS
Learning Objectives:
After reading this INFORMATION SHEET, YOU MUST be able to:
1. Find financial values, goals and strategies.
2. Practice basic financial statement to measure financial health.
3. Assess financial strength and progress using financial ratios.
4. Keep financial records necessary for managing personal finances, outline and work
toward achieving financial goals through budgeting

3.1.1 Financial Values, Goals, and Strategies

Despite what it sounds like, having strong financial values does not necessarily
mean being wealthy or even having a lot of financial knowledge 4 a person with very
little money can still be driven by financial values.

The person with strong financial values desires accuracy, organization and
discipline. He or she thinks about getting the best deal, and recognizes perks beyond pay,
such as a retirement plan and health care, when assessing a job offer. Even if he or she
is not formally investing, a person with strong financial values enjoys growing their money.

Financial goals are the monetary targets you strive to hit, such as saving for a
wedding or eliminating student loan debt.

Financial goals are the personal, big-picture objectives you set for how you will
save and spend money. They can be things you hope to achieve in the short term or
further down the road. Either way, it is often easier to reach your goals if you identify
them in advance.

Examples of financial goals include:

 Paying off debt.

 Saving for retirement.
 Building an emergency fund.
 Buying a home.
 Saving for a vacation.
 Starting a business.
 Feeling financially secure.

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 Think about what is important to you as you begin to set goals. It is completely
normal to have several goals, and for them to change over time. Apply SMART in
achieving financial goals where Specific objectives that are consistent with our values 3
SMART goals: Specific, Measurable, Achievable, Realistic, and Time-Related

Financial strategy of an organization is essentially concerned with procurement

and utilization of funds. The basic purpose is to ensure adequate and regular supply of
funds fulfilling the present and future requirements of the business enterprise.
Financial strategy deals with areas such as financial resources, analysis of cost structure,
estimating profit potential, accounting functions and so on.

In short, financial strategy deals with the availability of sources, usages, and management
of funds. It focuses on the alignment of financial management with the corporate and
business objectives of an organization to gain strategic advantage.

Self-Assessment Questions 3.1-1

1. Turning goals into reality, write down or use pictures of your goals that you want to
achieve in the future.

Answer to Self-Assessment Questions 3.1-1

 Paying off debt.
 Saving for retirement.
 Building an emergency fund.
 Buying a home.
 Saving for a vacation.
 Starting a business.
Feeling financially secure

3.1.2 Financial Statements

Financial statements are written records that convey the business activities and
the financial performance of a company. Financial statements are often audited by
government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing,
or investing purposes.

Financial statements include:

 Balance sheet
The balance sheet provides an overview of assets, liabilities, and stockholders'
equity as a snapshot in time.

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 Assets: What Do You Own?
3Monetary (liquid) Assets Low-risk, near-cash Checking & savings accts

3Tangible (use) Assets Personal Property Valued at fair market value

3Investment (capital) Assets Acquired for the financial benefits they will provide
Stocks & bonds, retirement accts

Liabilities: What Do You Owe?

- Short-term (current) Liabilities (Due within one year)

- Long-term Liabilities (Due 1+ years)

Net Worth: Do I own more than I owe?

ASSETS 3 LIABILITIES = NET WORTH

Negative net worth = insolvent Negative net worth = insolvent

 Income statement
The income statement primarily focuses on a company’s revenues and expenses
during a particular period. Once expenses are subtracted from revenues, the
statement produces a company's profit figure called net income

Net Income = (Total Revenue + Gains) 3 (Total Expenses + Losses)

Total revenue is the sum of both operating and non-operating revenues while
total expenses include those incurred by primary and secondary activities.

Revenues are not receipts. Revenue is earned and reported on the income
statement. Receipts (cash received or paid out) are not.

An income statement provides valuable insights into a company’s operations, the

efficiency of its management, under-performing sectors and its performance
relative to industry peers.

 Cash flow statement.

The cash flow statement (CFS) measures how well a company generates cash to
pay its debt obligations, fund its operating expenses, and fund investments.

3Shows money coming IN and money going OUT

(SURPLUS) 3Do you live within your income?

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 (DEFICIT) 3Or are you spending more than you earn?

Can be a monthly or yearly statement Cash-Flow Statement

Where our money goes

Self-Assessment Questions 3.1-2

1. What is the basic accounting equation?
2. What is a balance sheet?
3. What is an income statement?
4. What is a cash flow statement?
5. How do you spend your money?
Answer to Self-Assessment Questions 3.1-2

1. Assets - Liabilities = Equity/Capital

2. A balance sheet is a snapshot of your business’s financial well-being. It shows

your assets, including cash and receivables 3 money you are owed, and anything
you own with financial value, such as equipment and real estate. The balance
sheet also shows liabilities 3 amounts you owe. You can calculate your equity in
the business by subtracting liabilities from assets.
3. An income statement is a summary of expenses and income during a specific
period of time, usually a year. The income statements exclude PP&E (property,
plant, and equipment) expenses. I’d suggest comparing income statements from

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 different time periods, since this can give you great insights about the history of
your business and what’s fueling its success 3 or holding it back.
4. The cash flow statement is a summary of how you spent your cash over a period
of time. There are 2 methods for displaying cash flow: direct and indirect. The direct
method shows all the outflows and inflows of cash, and doesn’t tie it to income or
non-cash items. The indirect method, which is most common with my clients, gives
you a more detailed view of cash flow: It starts with net income and shows all your
non-cash items first, then shows cash flow. The statement of cash flows is broken
into three sections to show where you are spending your money: operations,
financing, and investing.
5. Food, Housing, Utilities, Transportation, Healthcare, clothing, etc.

3.1-3 Financial Ratios

A financial ratio can be well defined as a comparative magnitude of two selected

statistical values taken from the financial statements of a business enterprise. Being
used in accounting very often, numerous standard ratios are used for evaluation of the
overall financial condition of an organization or corporation. These financial ratios might
be used by the managers of a firm, creditors of a firm, and current and potential
shareholders of a firm. Moreover, these financial ratios are also used by security
analysts to contrast the strengths and weaknesses of various companies.
5 Types of Ratios
Different financial ratios give a picture of different aspects of a company's financial
health, from how well it uses its assets to how well it can cover its debt. One ratio by itself
may not give the full picture unless viewed as part of a whole.

Because they measure data that changes over time, ratios are by nature time-
sensitive, so you should account for that when evaluating them. You can use this to your
advantage and compare ratios from one-time period to another to get an idea of a
company's growth or changes over time.
Liquidity
Liquidity ratios demonstrate a company's ability to pay its debts and other liabilities.
If it does not have enough short-term assets to cover short-term obligations, or it does not
generate enough cash flow to cover costs, it may face financial problems.

Liquidity ratios are extra important with penny stocks specifically since the smaller
and newer companies often have tremendous difficulties paying all of their bills before
their businesses become stable and established.

Some liquidity ratios include:

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  Current ratio
 Quick ratio
 Cash ratio
 Operating cash flow margin.

The current ratio, for example, is current assets divided by current liabilities, and it
gives you an idea of how well the company can meet its obligations in the next 12 months.

The cash ratio will tell you the amount of cash a company has compared to its total
assets.

The quick ratio will compare a company's cash, marketable securities, and receivables
against its liabilities, giving you a better picture of how well it can make payments on its
current obligations.

Activity
Activity ratios demonstrate a company's efficiency in operations. In other words,
you can see how well the company uses its resources, such as assets available, to
generate sales.

A few examples of activity ratios investors should apply in their research include:
 Inventory turnover
 Receivables turnover
 Payables turnover
 Working capital turnover
 Fixed asset turnover
 Total asset turnover

Inventory turnover is expressed as the cost of goods sold for the year divided by
average inventory. This ratio can indicate how efficient the company is at managing its
inventory as it relates to its sales.

Receivables turnover, as another example, indicates how quickly net sales are
turned into cash; it's expressed as net sales divided by average accounts receivable.
Leverage
Leverage, or solvency, ratios demonstrate a company's ability to pay its long-term debt.
These ratios examine a company's dependence on debt for its operations and the
likelihood it can repay its obligations.

Leverage ratios are also referred to as:

 Debt ratios
 Debt-to-equity ratios

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  Interest-coverage ratios

The debt ratio compares a business's debt to its assets as a whole. A debt-to-equity
ratio looks at a company's overall debt as compared to its investor-supplied capital; with
this ratio, a lower figure is generally safer (although too low can indicate an excessively
cautious, risk-averse company).

Interest-coverage ratios show how well a company can handle the interest payments
on its debts.

Performance
Performance ratios tell investors about a company's profit, which explains why they
are frequently referred to as profitability ratios.

Performance ratios tell a clear picture of a company's profitability at various stages of

its operations. Examples include:

 Gross profit margin

 Operating profit margin
 Net profit margin
 Return on assets
 Return on equity

For example, the gross profit margin will show the gross sales compared to profits;
this number is found by subtracting the cost of goods sold from the total revenue and then
dividing by total revenue.

Another ratio, operating profit margin, shows a company's operating profits before
taxes and interest payments, and is found by dividing the operating profit by total revenue.

When looking at penny stock companies, it may be difficult or impossible to

find profitability ratios, as many companies of this type have not yet achieved profitable
operations and you cannot divide a number by zero.
Valuation
Since valuation ratios rely on a company's current share price, they provide a
picture of whether or not the stock makes a compelling investment at current levels. How
much cash, working capital, cash flow, or earnings do you get for each dollar invested?
These ratios may also be called market ratios, as they evaluate a company's
attractiveness on the market.

Some valuation ratios include:

 Price/Earnings (P/E)
 Price/Cash Flow

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  Price/Sales (P/S)
 Price/Earnings/Growth Rate (PEG).

Using Ratios in Financial Analysis

Examining and comparing financial ratios gives you points of comparison between
companies. It also lets you track a given company's performance over time.

It is important not to base decisions on any particular ratio, but rather take them
together and analyze them as a whole. As such, analyzing ratios can make all the
difference in your investment results, giving you the detailed information you need and
helping you spot potential problem areas before you invest.

The Balance does not provide tax, investment, or financial services and advice.
The information is being presented without consideration of the investment objectives,
risk tolerance or financial circumstances of any specific investor and might not be suitable
for all investors. Past performance is not indicative of future results. Investing involves
risk including the possible loss of principal.

Self-Assessment Questions 3.1-3

1. Define Financial Ratio
2. What are the 5 types of ratio?
Answer to Self-Assessment Questions 3.1-3
1. Financial Ratio - A financial ratio can be well defined as a comparative
magnitude of two selected statistical values taken from the financial statements
of a business enterprise. Being used in accounting very often, numerous
standard ratios are used for evaluation of the overall financial condition of an
organization or corporation. These financial ratios might be used by the
managers of a firm, creditors of a firm, and current and potential shareholders
of a firm. Moreover, these financial ratios are also used by security analysts to
contrast the strengths and weaknesses of various companies.

2. 5 types of ratio

 Liquidity
 Activity
 Performance
 Leverage
 Valuation
3.1-4 Financial Record Keeping

A budget is the sum of money allocated for a particular purpose and the summary
of intended expenditures along with proposals for how to meet them. It may include

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a budget surplus, providing money for use at a future time, or a deficit in which expenses
exceed income.

Budget: A monthly plan for spending and saving

Ask yourself:
 Do you like to be in control?
 Do you like to feel empowered?

Income Statement WHERE AM I?

Budget WHERE DO I WANT TO GO?

Rules for successful budgeting:

1. Keep it simple.

2. Prioritize.

3. Keep it flexible.

4. Be positive. <

A budget is designed not to prevent you from enjoying life, but to help you achieve what
you want most in life

Create a monthly budget using 3 columns:

[Link] amounts (based on past expenditures)

Do not use unrealistically low numbers!
Reconcile needs & wants by identifying priorities (Make sacrifices if necessary!)

[Link] amounts (at month end)

[Link] variance (difference between budgeted & actual amounts)

3Evaluate: why did variances occur?
3Excessive variances may require budget revisions
3Time will help with accuracy
3Use surpluses wisely (revolving savings fund / credit card debt)

Make sure <SAVING= is in your budget.

What’s your technique?

[Link] Bank OR envelope

[Link] automatic deposit to deposit a certain amount in savings
[Link] deduction

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 How you save is not as important as getting into the HABIT … small amounts can
grow faster than you think!

For years, co-workers were amused by a woman who carried a brown bag lunch
each day. That woman later retired COMFORTABLY and lived her later years in
beachfront property. A daily coffee and muffin can add up to over $1,300 a year.
Assuming an 8% return, how much would this amount saved each year be in 40 years?
What if you could earn an average of 10% on your savings?

Top 3 Financial Missteps in Financial Statements, Tools and Budgets

1. Failing to plan for occasional, non-monthly expenditures.

2. Underestimating how much you spend each month.

3. Using credit cards to <balance= your budget.

Self-Assessment Questions 3.1-4

1. What is budget?
2. What are your techniques to save your money?
Answer to Self-Assessment Questions 3.1-4

1. What is budget?

A budget is the sum of money allocated for a particular purpose and the summary
of intended expenditures along with proposals for how to meet them. It may include
a budget surplus, providing money for use at a future time, or a deficit in which
expenses exceed income.

2. What are your techniques to save your money?

* Piggy Bank OR envelope
* Use automatic deposit to deposit a certain amount in saving
* Payroll deduction

Assignment Sheet 3.1-1.

How much will be your savings given the following information:
Weekly allowance x 10% x4 weeks x 12 months.

Start keeping your money by opening a bank account for your savings.

Reference:

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Garman/Forgue Personal Finance Ninth Edition Chapter 3 Financial Statements, Tools,
and Budgets

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 Module 3: Credit Cards & Consumer Loans
Vehicle and other Major Purchases
Buying Your Home

Objectives:
 Identify different types of consumer credit
 Identify the different credit card accounts
 Develop a plan to establish a strong credit history
 Implement a plan to research and select new or used automobile
 Decide whether to buy or lease a car
 Identify housing alternatives, assess the rental option, and perform a rent-or-buy
analysis
 Evaluate benefits and costs of homeownership and estimate how much you can afford
for a home
 Describe the home buying process

TYPES OF CONSUMER CREDIT

Consumer Credit
 is non business debt use by consumers for expenditures other than home
mortgages. There are two type of consumer credit: instalment credit and non
instalment credit.
 With instalment credit, (also called close-end credit) the borrower must
repay the mount owed plus interest in specific interest in a specific number of
equal payments, usually monthly.
 Non instalment credit, includes single-payment open-ended credit, and
service credit. Single payment loans are the easiest of the three to
understand.

With open-ended credit (also called revolving credit), credit is extended in advance
of any transactions so that the borrower doesn’t need to reapply each time credit is
desired.
The borrower can use the account as long as the total owed does not exceed his or
her credit limit.

Personal line
 A personal line of credit is a form of open-ended credit that allows the borrower
access to the prearranged revolving line of credit provided by the lender (usually
a commercial bank, savings bank, credit union, or brokerage firm).

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 Several Reasons for Using Credit:
1. To avoid paying cash for large outlays
2. To meet a financial emergency
3. For convenience
4. For investment purposes

Building a Strong Credit History

5 Cs of Credit:

1. Character – key factor in defining borrower’s willingness to live up to the terms of

the loan.

2. Capacity – the ability of the borrower to service the loan in a timely fashion.
3. Collateral – something of value that’s used to secure loan and that lender can
claim in case of default.
4. Capital – the amount of unencumbered assets owned by the borrower, used as
another indicator of the borrower’s ability to repay the loan.
5. Condition – the extent of which prevailing economic conditions could affect the
borrower’s ability to service a loan.

CREDIT CARD ACCOUNTS PROVIDE INSTANT ACCESS TO CREDIT

Once a credit card is opened, it can be used at any time. If a balance is carried over,
a minimum payment must be made each month to cover interest and a small
payment of the amount owed ( the principal). If at least the minimum account is not
received by the due date, the cardholder must pay a late payment fee and may be
declared in default.

TYPES OF CREDIT CARD ACCOUNTS

Bank Credit Cards

 A bank credit card account is an open-ended credit accounts at a financial
institution allowing the holder to make purchases on a credit card in almost
anywhere. These companies contract with Visa, MasterCard, and a bank to offer
these cobranded credit cards.

Travel and Entertainment Cards (T&E) cards

 Are similar to bank credit cards in that the allow holders to make purchases at
numerous businesses.
 Some Credit Card Offers Come Preapproved
 Annual and Transactions Fees Can Be Avoided
 Liability for Lost or Stolen Cards is Limited

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  Late-Payment, Bounced-Checked, and Over-the-Limit Fees Are Very
Costly
 Teaser Interest May Be Appealing
 Default Rates Are Extremely High
 Variable Interest Can Extremely Go Up
 Credit Card Insurance Are Overpriced

Activity/Task to Do

After graduating from College last fall, Eileen Estes took a job as a
consumer credit analyst at a local bank. From her work reviewing credit
application, she realizes that she should begin building a strong credit
record. Does the fact that she took out a student loan for her college
education help or hurt her credit record?

Credit Statements
 Active charge account holders receive a monthly credit statement (also called a
periodic statement) that summarizes the charges, the payments, finance
charges, and other activity on the account.

Transaction and Posting Dates

 The date on which a credit cardholder makes purchase (or receives a credit) is
known as the transaction date.
Transaction Fees
 Credit card companies usually charge transaction fees whenever the card is
used for a balance transfer of cash advance.

How to Correct Errors on Your Credit Billing Statement

Your Time Limits

 You must make your billing error complaint within 60 days after the date on which
the first bill containing the error was mailed to you.
Your Action Steps
 Take several action when disputing an item on a billing statement.
 Notify the merchant
 Send a written notice
 Provide photocopies

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  Withhold payment for disputed items
 Review your credit bureau file

Understanding Consumer Installment Loans

With a cash loan, the borrower receives cash and uses it to make purchases, pay off
other loans, or make investments
.
With a purchase loan (also called sales credit), the consumer makes a purchase on
credit with no cash transferring from the lender to the borrower. Instead, the funds go
directly from the lender to the seller.

For all consumer loans, the borrower will sign a formal promissory note (a written
installment loan contract) that spells out the terms of the loan.
Installment Loans Can Be Unsecured or Secured

An unsecured loan is granted solely based on the good credit character of the
borrower. Sometimes unsecured loans are called signature loans because they are
backed up by only the borrower’s signature.

A secured loan requires cosigner or collateral. A cosigner agrees to pay the debt if
the original borrower fails to do so.

Let’s Do this SAQ

Using the simple interest method, find the monthly payments on a P3,000 installment loan if
the fund borrowed for 24 months at an annual interest rate of 6%

ASAQ

P = 3,000
I = 6+6 12% P360
Monthly Payment up to 24 months = P140

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Buying an Automobile

1. Research your purchase thoroughly, considering not only the market but also your
personal needs.
2. Select the best item for your needs.
3. Buy the item after negotiating the best practice and arranging financing on favorable
terms.
4. Maintain your purchase and make necessary repairs promptly.

10 Steps to Buying a New Car:

1. Research which car best meets your needs and determine how much you can afford to
spend on it.
2. Check websites, TV and Newspaper for incentives and rebates on the car you would
like to buy.
3. Decide on a price based on dealer’s cost for the car and options, plus a mark up for the
dealer’s profit, minus rebates and incentives.
4. Find the exact car for you in terms of size, performance, safety and styling.
5. Test-drive the car.
6. If you are trading your old car, you will not likely get as high a price as if you sold it
yourself.
7. Negotiate the lowest price by getting bids from at least three dealers.
8. Close the deal after looking not just at the cost of the car but also, the related
expenses.
9. Review and sign the paperwork.
10. Inspect the car for scratches and dents.

Affordability
You’ll need to calculate two numbers – unless you plan to pay cash for the entire cost of the
car.

1. Amount of down payment

2. Size of the monthly loan payment you can afford

Activity/Task to Do

You conduct a research on the internet of those top performing

automobile company in the Philippines and how they compete during
the pandemic.

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Gas, Diesel or Hybrid
If you’re green who’s concerned with the environmental impact of the fuel car your car uses,
you may be interested only in a hybrid car. In this case, price difference may not matter.

Although you’ll want to consider fuel economy when car shopping, comparable gas fueled,
international combustion engines and diesel-powered cars tend to have similar fuel economy.

Hybrids which blend gas and battery power, have experienced rapid sales growth due to high
gas prices, improved technology and availability, and greater public awareness of
environmental issues.

Finding the Best Car for You

Start your examination of a car with an inspection of key points.

 How easy is it to get people and things into and out of the car?
Do the doors open easily?

Is the trunk large enough for your needs?

Does the car offer a pass through?

 Comfort and visibility:

Are the seats comfortable?

Can you adjust the driver’s seat and steering wheel properly?

What are the car’s blind spots for a person of your height?

Can you see all the gauges clearly?

Can you reach the control for the radio, CD Player, heater, air conditioner, and other
features easily while driving?

Does it have the options you want?

Then take the car for a test drive:

 Set aside at least 20 minutes and drive it on highways and local roads.
 To test acceleration, merge into traffic getting onto the freeway and try passing another
car.
If possible, drive home and make sure the car fits into your garage – especially if you’re
interested in a larger SUV or truck
 For a used car, test the heater and air conditioner. Then turn the fan off and listen for
any unusual engine noises.

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  Check out overall handling. Parallel park, make a U-turn, brake hard and so on. Do the
gears shifts smoothly? If testing a standard transmission, try to determine if the clutch
is engaging too high or too low, which might indicate excessive wear or a problem.

Should you Buy or Lease Your Next Car?

Advantages of Leasing
1. Better car for less money
2. A new car every few years
3. No trade-in hassles at the end of the lease

Advantages of Buying
1. When interest rates are low, owning makes more financial sense than leasing
2. No mileage penalty
3. Increase flexibility

Let’s Do this SAQ

Shiela has just graduated from college and needs to buy a car to continue to commute to
work. She estimates that she can afford to pay about $450 per month for a loan or lease and
has about $2,000 in savings to use for a down payment. Develop a plan to guide her through
her first car-buying experience, including research car type, deciding whether to buy a new or
used car, negotiating the price and terms, and financing the transaction.

ASAQ

Important purchase considerations include affordability; operating costs; whether to buy a

gas, diesel, or hybrid fueled car; whether buy a new versus a used or nearly new car; the type
of car and its features; and its reliability and warranties. Knowing the dealer’s cost is the type
to negotiating a good price.

Home Buying Tips

1. Say no to <no money down= seminars.

2. Stay away from bad agents
3. Don’t wipe out your savings
4. Rely on professional advice
5. Avoid exotic financing

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6. Pick the right neighborhood.
7. Stay away from the most expensive home in the neighborhood.
8. Don’t pass up the home inspection
9. Don’t change the financial picture before closing
10. Plunging into debt after closing.

Housing Loan offered by PAG IBIG

The Pag-IBIG Fund Housing Loan allows you borrow up to Php6 million to purchase a residential
lot, a house and lot or a condominium unit. You may also secure a loan for house construction,
home improvement or renovation or even to refinance an existing housing loan.

Here are the type of properties you may purchase and the various purposes where you can use
your Pag-IBIG Fund Housing Loan:

 Purchase of fully-developed residential lot or adjoining residential lots not exceeding

one thousand square meters (1,000 sqm);

 Purchase of a residential house and lot, townhouse, or condominium unit;

 Construction or completion of a relative of the borrowers;

 Home improvement on the house owned by the borrower or a relative of the borrower,
or on a property currently secured under Contract-to-Sell (CTS) or Deed of Conditional
Sale (DCS) between Pag-IBIG Fund and the buyer.

 Refinancing of an existing housing loan;

 Purchase of residential lot or unit plus cost of transfer of title.

How to Qualify

The Pag-IBIG Fund Housing Loan Program is available to all active Pag-IBIG Fund members,
who have satisfied the following requirements:
 At least 24 monthly savings. Lump sum payment of the required 24 months savings is
allowed;

 Not more than 65 years old, and not more than 70 years old maturity of the date of loan
application;

 Has the legal capacity to acquired and encumber real property;

 Passed satisfactory background/credit and employment/business checks of Pag-IBIG

Fund;

 Has no outstanding Pag-IBIG Fund Short-Term Loan (STL) in arrears at the time of

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 loan application;

 Has no Pag-IBIG Fund Housing Loan that was foreclosed, cancelled, bought back due
to default, or subjected to dacion en pago. If with existing Pag-IBIG Fund Housing Loan
account, either as principal borrower or co-borrower, it must be updated.

Amount you can borrow

 You may borrow up to Six Million Pesos (P6,000,000.00). However, the loan amount you
will receive shall still depend on either the actual amount you need, your loan entitlement
based on capacity to pay or loan-to-appraised value ratio – whichever is lowest.

 Now, more than ever, is the best time to apply for a Pag-IBIG Fund Housing Loan as it
carries its lowest-ever interest rates! The interest rate shall be based on your chosen re-
pricing period under our Full Risk-Based Pricing Framework.

Activity/Task to Do

Look in the internet for affordable commercial housing and develop a

plan or target on how you can achieve on having your own affordable
dream house.

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 References

1. Anastacio, Flordeliza et al (2016). Fundamentals of Financial Management. Rex

Boostore

2. Gitman, L. (2016). Investment Management with Personal Finance. Cengage Learning.

3. Housing Loan.
[Link]
%20Housing,refinance%20an%20existing%20housing%20loan.
Date Retrieve: July 15, 20202

Ruff Jon W. Florendo Jr. is a college instructor in URS Tanay

Campus. He is the current Dean for the College of Agribusiness
Management. He is a graduate of BS Business in Administration
major in Financial Management at La Salle University – Ozamiz
City, Master in Business Administration at University of Rizal
System - Antipolo, and on-going Doctorate Degree for Doctor in
Business Administration at the Polytechnic University of the
Philippines.

University of Rizal System URS-IM-AA-CI-0062 Rev 00 Effective Date: August 24, 2020