Financial Planning to Achieve 300m VND Goal in 3 Years môn Principles of Management | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

You set a goal to have 300 million VND three years later when you
graduate so that you can establish your own business. Your parents
gave you 100 million in your savings account. Develop a plan to achieve your goal.
To achieve your goal of having 300m VND 3 years later, here are some strategies
1.Calculate remaining amount needed
- We need 300 million VND -100 million VND( parent’s gift)=200 million VND in next 3 years
2.Set realistic savings target:
-Divide the remaining amount by the number of months:200/36 months=5.56 million VND per month -Avoid wasting your savings 3. Increase income
2 ways to have money: saving more and earnịng more
*Saving: Sell unsued items: Declutter and sell belongings you no longer use.And sell
it via social media or any kinds of platforms like online marketplaces or garage sales. *Earning
-Part-time job :Looking for a part time job that fits your schedule and skills.Set the
salary’s target (about 3-4 million VND)
-Freelancing: if you have marketable skills like writting, drawing,…you can offer
freelance services online or locally. 4. Limit the wasting
-Budgeting: create a budget to track income and expenses
-Track progress: can follow the money each month and also stay motivated. -High-yield savings account 5. Explore additional options -From scholarships and grands
6. Evaluate your present financial situation:
- Begin by reviewing your current expenses and earnings.
=> Calculate how much you can reasonably save toward your objective.
7. Remain adaptable and Focused:
- During the time of saving, there are risks that come from many sides, such as part-
time work, eviction, or theft of 1 part of the money, or even if we participate in
financial applications, the money we are investing in can be lost or significantly reduced.
=> So, we have to adapt to that and focus on earning it again in the near future.