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Expense Record & Control (Personal Finance) - Coggle Diagram
Expense
Record & Control
(Personal Finance)
II/ Record & Control
Record
Classify
Duration
Skincare & Body care (0.5-3 months)
Clothing (3 months - a few years)
Devices (Smartphone, headphone,..) (A few years)
Consumable
Relationships
Friends
Family
Love
Work
Personal
Daily Meal
Snack & Coffee
Transportation (Parking fee, Petrol)
Other Expense (Spontaneous)
Maintenance (Vehicle, device, etc.)
Sickness
Emergency
Accruals
Accounting Definition
Accrued expenses are expenses that have been incurred but not paid.
Get understanding
Expected Expense
Unpaid Expense
Frequency 1-2 times/day
Method
Notes (Handwriting, Electronic)
Excel
Application (Smartphone, Laptop)
Suggestion
Convenient record
Save time
Avoid forgetting to record
Report Function
Controlling Purpose
Automated Calculation
Appropriate purpose
Control
Compare to Planning
Vertical Analysis
Proportion
Horizontal Analysis
Timely
Suggestion & Conclusion
Suggestion
Application Figures
Fast
Convenient
Appropriate Purpose
Application
Money Lover
MISA Money Keeper
Money Mate
Conclustion
Recording
Completely
Classifying
Appropriately
Tracking
Frequently
Controlling
Efficiently
I/ Introduction
Objective
How to record
There is no missed/duplicated expense
How to control
Saving, investment and spending are balanced
How to classify
Resources are allocated smartly
General cashflow
Income
Cash inflow
Sales (Revenue)
Investment
Most interested
Expense
Cast outflow
Affect on NET income
Liquidity risk (Short-term)
Cashflow deficit (Negative)
The "Black swan" event
Example
Novaland
Total asset: $US 9Bn
Revenue: $US 0.6Bn
ST shortage of $0.2Bn
Share price: -80% in Q4
Warm-up Activity
How many of you are having a financial plan?
The importance of the skill
Tracking types of expense
Control Spending
Modify suitable financial plan