Living On Your Own

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For the Fourth met, the topic is "Living On Your Own." When you want to living on your own so you must think about the cost. The cost that you must prepare is moving- in cost and moving cost.

Moving- in cost means the cost that you must prepare whenever you already move to that place. Moving- in cost include: rent for this month and last month, cleaning deposit, security deposit, utilities deposit, and telephone deposit.  Rent for this month and last month means that you must pay the cost of rent for this month until last month. For example, if you want to rent a apartment for one year so you must pay the cost of rent for one year as the down payment. Cleaning deposit means the cost of cleaning your place, the character of cleaning deposit is non refundable fee. Security deposit means amount that the contractor has to deposit with the owner before awarding work, after his tender is accepted. Utilities deposit means the cost that you must prepare to pay for electricity, heat or gas, and water. Telephone deposit means the cost that you must prepare to pay for telephone usage.

Moving cost means the cost that you must prepare when you moving for example the cost for moving your stuff. Moving cost include: renting a truck, packing supplies, and hiring movers. Renting a truck used to help you to bring all of your stuff that you need whenever you're moving.  Packing supplies is really important for people who want to moving. pacing supplies used to help you to pack your stuff so it will be easy for you to bring that stuff. Hiring movers is people who be in charge to help you to bring your stuff to your new place. 

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when you want to move, so there have seven things that you must keep in mind. First is your personal and financial goals. Personal and financial goals is the higher level of achievement,  self confidence, personal motivation, and more fulfilling life. Second is your income. Income is really important for someone who want living on your own. Source of income usually from working, investing, and maybe from parents. Income used to supply your life necessities. Your income must balance with your expenses. Third is your lifestyle. When you living on your own so you must ensure how much the budget that your need for your lifestyle. Fourth is your fixed and variable expenses. It's better for you to know what is yor fixed and variable expenses and how much the budget. Fixed expenses such as rent, car payment, and insurance. Variable expenses such as food, savings, utilities, etc. Fifth is moving- in cost. Sixth is Moving cost. Seventh is the cost of setting up house. The cost of setting up house is really need for you whenever you want to move.There have some question, one of the question is if you rent a apartment, and your income is not enough to pay the rent so what will you do? Still rent that apartment, search another apartment, or other ways? I answer the question if my income isn't enough to pay the rent so i will reduce my expenses and working part time. And i will stay at that apartment, but i must set the budget.

The Art of Budgeting

 

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The third topic that explained by group three is about the art of budgeting. First, they said the art of budgeting is how we can use money be effective with step by step and make the planning of saving and spending.  The art of budgeting is really important because if we have a income and we didn't make the detail of our outcome maybe your outcome more than your income so with the detail you can manage your spend and saving. after that they explained about personal and financial situation. whenever, personal and financial situation consist of needs (what you really need) , values (something which have a value of your life), and life situation (something  due with yourlife). 

They also explained about set personal and financial goals. If you want to make a personal financial so something you must do is don't owe. You also make a plan for retirement because you must have the target because if you already 60 years old you should be retired. They said that you must have a fund for emergency situation, health goals, insurance to cover your life, family goals, educational goals, social goals, and financial goals. 

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If you want to make your budget expenses for a month so you must know your income per month after that you must know what is the fixed expenses and variabel   expenses. Usually, the fixed expenses include rent, car insurance, car payment, credit card. And the variable expenses usually include saving, food, utilities, etc. Your expenses should be balance with your income, if your expenses more than your income so you must decrease your expenses.

Making Money

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The second group was explained about “Making Money”.  They explained that career planning is an ongoing process that can help you manage your learning and development. Career planning is the continuous process of thinking about your interests, values, skills and preferences; exploring the life, work and learning options available to you; ensuring that your work fits with your personal circumstances; and  continuously fine-tuning your work and learning plans to help you manage the changes in your life and the world of work. The career planning has four steps. The first step is knowing yourself, in this step you must know, where you want to be thinking about where you and how you’re going to get there. The second step is finding out, in this step you must exploring the occupations and learning areas that interest you. The third step is making decisions, in this step you must comparing your options, narrowing down your choices and thinking about what suits you best at this point in time. And the last step is taking action, in this step you need to take to put your plan into action. 

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They also explained about preparing for a job interview.  There have three parts of interview. First is before the interview, you must analyze the job (an important part of interview preparation is to take the time to analyze the job posting, or job description); make a match (When you have created a list of the qualifications for the job, make a list of your assets and match them to the job requirements); research the company (before you go on a job interview, it's important to find out as much as you can about the company); practice interviewing; what to bring to a job interview; and get the direction. The second part is during the interview, you must practice interview etiquette; listen the question; and ask the questions. The last part is after the interview, you must follow up with a thank you note.

In working, we as a employee will get some benefits. The benefits that we can get are medical insurance, dental insurance, vision/ eye care insurance, life insurance, accidental death insurance, disability insurance, vacation, holiday, sick/ personal days, pension plans, profit sharing, etc. They also said that making money and saving money is really important because if you making money but you didn’t save the money then you will not progress. If you saving money but you didn’t making money so from where you got the revenue. So, it’s really important for us to making money and saving money. 

Making Decision

           

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            The first group  was explained about “Making Decision”. They explained that making decision is really important for us because it can help us to do something. The dicision making process are identify the problem, gather information and list possible alternatives, consider consequences of each alternatives, select the best course of action, and evaluate the result. For example, I already finished my study in senior high school so I want to continue my study. I must prepare some university that must be accordance with university that I want.  After that I must choose the best university and take the consequences. They explained the factors that can influence a decision including values, peers, habits, feelings (love, anger, frustation, ambivalance, rejection), family, risks and consequences, and age. They also explained the common decision making strategies, include spontaneity; compliance; procrastination; agognizing; intention; desire; avoidance; security; and synthesis. 

            Not only that, they explained about the economic influences on decision making. They said that the economic factors may influence personal and financial decision, such as consumer prices, consumer spending (demand for goods and sevices), gross domestic product (GDP), housing starts, interest rates (the cost of borrowing money), money supply, stock market index, and unemployment. They said there also have the risks associated with decision making. The following are common risks related to personal and financial decision making, such as personal risks, inflation risk, interest-rate risk, income risk, liquidity risk. The opportunity costs and time value of money, include opportunity cost, personal opportunity costs, financial opportunity costs, and time value of money.

            There also have a question that was gave by the audience is if  a manager must determine the decision, but the manager have some problem or not in a good mood so what should she/ he do? One of them said that if you are a manager and at that time you was badmood so you must work professionally so you must forget the problem and choose to make decision of your work. Don’tintervene  personal affairs or problem with your job.