Un+&+Nathan

Submit Date: 03/08/2011


Thank you for sending your assignment. Here is the feedback. Please work on the changes and resend the amended ones before 5 Aug 2011.~Siti, 2 Aug 2011




 * __in __****__troduction __**

When we spend above and beyond our means we are generally left with a not so good feeling gnawing away at our insides. Something about overspending leaves us feeling beneath our dignity. Overspending often leads to feelings of depression and anxiety which in turn leads to more overspending.


 * Build an emergency fund. ** You need a savings account to cushion yourself in case of emergencies, such as loss of job, car repair, etc. Set up a separate savings account that doesn't link to your checking account and try to deposit around 5-10% of your earnings into that account each month. The minimum amount in your emergency fund should be three to six months worth of basic living expenses.


 * Begin saving for retirement. ** As a new graduate, this may be low on your list of financial priorities since retirement is so far away. However, because many employers match employee contributions up to a certain percentage, you should sign up for a 401(k) or 403(b) as soon as you land a job to take advantage of that free money. Even if you don't get a match from your employer, you should still begin saving for retirement as soon as possible because now you have time on your side. The earlier you start saving, the better off you will be in the future.


 * Deal with emergencies. **Period!! Period in our life is risk. There are a lot of areas of life that we are risking. Your car will break down eventually, there might be an unexpected medical bill, you may rear end someone, and the list goes on forever. The point is that things happen in life that we may have never expected. I remember when the economical turmoil when everyone starts panicking about future and security. I would guess that there are large amount of us have not even start to save a single penny, that is we can’t handle any sudden change in our life style, isn’t it? You can cry about this all you want but the bottom line is that you need to be prepared by having an emergency fund.


 * Get health insurance. ** Having health insurance is a wise decision. Just one accident or illness can cost thousands of dollars. Some medical bills could even cause bankruptcy if you don't have insurance. If your place of employment offers health insurance, you should sign up since group coverage is cheaper than individual plans. If that's not an option, you should purchase an individual health plan.

**these are the correction done after your feedback to us in class.hope you can make more further feed backs.**

Point breakdowns:

5-10% of your earnings into that account each month Consistently save each month. Plan savings-educational saving, retirement savings, health plan etc..
 * -Build an emergency fund. **

<span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;"> **-Begin saving for retirement.** <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">High priority <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">Employee provident fund ( EPF) <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">The earlier you start saving, the better off you will be in the future.

<span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;"> Period in our life is risk.. <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">Unexpected expenditure or situation <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">Avoid panicking situation. <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">Earlier preparation.
 * <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">Deal with emergencies. **

<span style="font-family: 'Times New Roman',serif; font-size: 16px; line-height: 24px;">**Get health insurance.** <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">Avoid higher cost <span style="color: black; font-family: 'Times New Roman',serif; font-size: 12pt;">Various <span style="color: black; font-family: Arial,sans-serif; font-size: 10pt;"> kind of plan according to needs and budget.

after further discussion on 1th july 2011 we came about some additional and relevant points. below are the two main points. Please comment on our work.

-example of proper fund for future : educational plan, retirement savings, health insurance, investment planning. -early preparation -avoid depression -better opportunity -chance to compete and upgrade living style
 * 1.build a proper back up fund**

-example of emergencies:accidents,health problems and urgent bill payments. -avoid unexpected expenditure -avoid panic situation -able to solve any problem fast and diligently -deal with economic crisis -avoid bankruptcy
 * 2.deal with emergencies**


 * After class on 16 July we had did the requirement from our lecture as below:**



Below are our note making

<span style="font-family: 'Times New Roman',serif; font-size: 12pt;">[|http://studenomics.com/personal-finance/benefits-of-saving-money-for-twenty-something]