Singapore University of Social Sciences

Financial planning helps us achieve our financial goals and long-term financial well-being.Recent studies reveal that the large majority of Singaporeans have not done any form of planning for their future. They assume that their CPF savings will provide adequate income for their retirement. It is now known that this is not the case, and the problem is compounded by a longer life span.Managing Your Personal Finances is a financial journey of meeting individual life goals through the proper management of an individual’s wealth. It is also a process that consists of specific steps that will help an individual to ascertain his/her financial health. The detailed process involves gathering relevant financial information, setting financial goals, examining current financial status and coming up with a strategy to meet the current situation and future plans.The learning objectives of this course are:• That the students understand the importance of personal financial planning • That they are able to use the six-step process of personal financial planning • That they are able to apply their knowledge in an integrated project of cash management, investment planning, insurance planning, retirement planning, tax planning, and estate planning. By viewing each financial decision as part of a whole, students can consider the short and long-term effects on their life goals. They can then take effective actions for their financial well-being