FL PROJECT WORK

Saving Plans

Money Route

Money incomes Majority of the money from my parents

and part time job (approx $400 a month)

Expenditure (approx $100 a month)- Food- Basic necessities-Transport- Stationery , etc.

Savings$300 a month

Needs and Wants

Needs Wants

Food (School Breakfast, Lunch), Water

New schoolbag

Transport New handphone

Stationery Snacks

School miscellaneous fees (learning journey, new schoolbook, etc)

Drinks

Medical treatment, medicine, etc. Presents for friends’ birthday

Schoolbooks, assessment books, etc.

Magazines

Entertainment (gaming, etc)

Budgeting (Income)

From parents monthly allowance ($150 a

month) part-time job (about $250)

Total income $400 a month.

Budgeting (Savings)

The amount we want to set aside every month

$250-$300

Budgeting (Expenditure)

School Food (Breakfast, lunch) => $4 per day, $20 a week. $80 a month

Transport =>$5 a week, $20 a month Stationery => $10 a month

Other needs- School miscellaneous fees (learning journey, new schoolbook, etc)- Medical treatment, medicine, etc. - Schoolbooks, assessment books, etc.

Bank saving plan

The bank savings plan we have chosen for our saving plan is

Maybank Youngstarz Account.

Why?

It has the highest interest rate compared to 6 other banks for their saving plans suitable for people of our page

Provides the Youngstarz Club Membership for fun and entertainment to the account owner

Exciting gift will be given when open or top up the account

Advantages

Highest interest rate will help us earn more money

Free interesting activities Free gifts High insurance will be given

Disadvantages

Have to deposit a minimum $2000 first before having a free personal accident insurance

Has a minimum initial deposit of $10 $2 will be charged per month Waived with a minimum average daily

balance of $500

Alternatively,

We can help our parents save money by reducing wastage of our basic necessities.

Examples Water Electricity Food Etc.

Conclusion

Having a saving plan is important. Our income is $4800 a year (parents &

part time job) According to saving plan, we spend

$1320 a year. Therefore, according to this saving plan,

we are able to save about or more than $3480 a year (12 months)

Group Members : Xinyi Xinjia Zhihua Anice

Thank You