De Jager, J.W.Fouché, Jacobus Paulus2023-05-042023-05-041998http://hdl.handle.net/10394/41252MCom, North-West University, Potchefstroom CampusThe study brings to attention the lack in education and knowledge regarding personal finances. It seems that the major problems are lack of knowledge and ignorance regarding financial planning. Quantitative and qualitative matters are investigated. From a Christian point of view, firstly, no financial goals should be accomplished if not in line with the guidelines from God. Secondly, the person performing the planning should take into account and involve the whole family to streamline the process of reaching the common goals. The income of a person is determined by factors such as the person's qualifications and occupation. The final determining factor would however be the persons personal circumstances and his effort. A further remark regarding income is that the income should determine the living standard and not otherwise. Household expenditure do not only exist of payments for consumables, assets or debt repayments. It does in fact also include savings for specific purposes. Income should also be used to safeguard money for uncertainties and special goals. Budgeting is the ideal way to assist a person in managing expenses and obtaining financial goals. Assets should be managed actively. It is every person's responsibility to research and read on subjects regarding assets and asset management. If assets are managed properly it would provide the person with more value for money and satisfaction. Debt could have one of two effects on a person's finances. It could be something embarrassing and problematic, or if managed properly be positively used in obtaining financial goals. The positive matters regarding debt, such as beating inflation, should be utilised in full. It is evident, from various sources that most people do not have the means to retire financially independently. By doing an early analysis of a persons needs after retirement, provision can be made to rectify the problem. If the analysis is done early in life the amount needed to be set aside each month would also be less and will be easier to come by. This is however not where personal financial management should stop. The person should also include early estate planning. Various aspects such as insurance, banking facilities, the small claims court, marital contracts, consumer matters as well as the involvement of the family are often disregarded when thinking of personal financial management. These matters should however be considered in advance to avoid last minute uninvestigated decisions. The study concludes with a financial model that could assist persons in performing their personal financial management.otherPersonalFinancialManagementIncomeExpenditureAssetsDebtRetirementThesis