Business and finance

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     Business and finance                               


             Personal finance

                   unit eight

   Assignment number-one

Date Set-16/02/01              Date Due- 15/03/01

                       By Christine Reid

The unit I have been studying involves learning about planning, managing and controlling my finance. As I have seen from class discussions and through the personal budget that I draw up. It took a lot of self-discipline and skill to plan my finance.

  Sometimes it gets so complicated that we need the help of experts to advise us about ways to plan, manage and control our finances.

For this assignment I will have to do the following ~

     1 ~ To produce a guide for a young employed adult.

   2 ~ This guide must contain information that will help him/her to  


2.1 ~ Why it is important to plan their finance.

2.2 ~ Where they can get advice to help them in their financial  


2.3 ~ What financial services are available from banks and other  

         financial institutions.

2.4 ~ Most people need a loan of some sort, it will also be helpful if

         you can give them information about different types of

         borrowing and how they can use these loans.

2.5 ~ You also need to advice them about methods of ensuring  

         accuracy of financial records.  

Planning, managing and controlling your finances.

Step one ~

  • Title page.
  • Introduction.
  • Plan.

Step two ~ Why is it important to plan your finance?

  • Benefits.
  • Included own personal budget.

Step three ~ Where they can get advice from?

  • Search for information.
  • Banks
  • Internet.
  • Citizen's advice centre.
  • Publications.

Step four ~ Produce questionnaire to send to banks.

Step five ~ What financial services are available from banks and other institutions?

  • Go to bank web site.

Step five ~ Types of loans?

  • What APR means?
  • Visit banks web sites.

Step six ~ Methods of accuracy?

  • Accurate presentation
  • Format of account.


Planning your finances is concerned with how much money is coming in and out of e.g. your bank. How to reduce the level of money leaving your account and the amount that you spend and the amount you save. Planning, managing and controlling your finances saves time and money. When you plan your finances you have total control over the amount which you spend and pay out. When you plan your finances you can keep track off your money coming in and out of your bank.

If you don’t plan your finance then you would not know where bouts your money has gone and it would be more that you would spend more money then somebody who plans and controls their money.

    Below is an example of an personal budget (cashflow forecast)

There are a number of different types of financial services available and many have different options attached. Below are some types of financial services that are available from HSBC plc.

Join now!

Select current account.

The select current account can save you money, get all the banking services you expect. The services that are on offer are:

  • £50 interest free overdraft.
  • High interest on your savings by 0.5%
  • Discounts on standards loans with a select loan.
  • Card protection worth up to £12 a year.

This select current account can save you money in many ways from an interest free overdraft to discounted rates on a personal loan. Savings with the select loan are all yours for £4.00 a month. The select current account usually charges £4.00 a month for ...

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