Planning Expenditure (Unit 3)

Common Principals to be Considered in Planning Personal Finances

  • To avoid getting into debt

  • To control costs

  • Avoid legal action and/or repossession

  • Remain solvent

  • Maintain a good credit rating

  • Avoid bankruptcy

  • To manage money to fund purchases

  • To generate income and savings

  • To set financial targets and goals

  • To provide insurance against loss or illness

  • To counter the effects of inflation

Previous
Previous

Influences on the Role of Money (Unit 3)

Next
Next

Different Ways to Pay (Unit 3)