我在马路边，捡了一万元（英文）

If you are given 10,000 RMB, how will you spend it?

This question was given by my foreign teacher on the course of “personal finance”. We had a panel discussion.

YOU ARE GRANTED FOR A SUM OF MONEY

A lot of people said that they would choose spending out for travelling.However, I believed we should have a very rational choice as we‘ve been adults now.

I will cut 30% of it on saving,which is prepared for all unpredictable complications that life throws your way. The second 20% is used for relaxing. I could go out for shopping or delicious food. 30% is used to buy gifts for my family members. ( I will buy my boy a lot of tools he likes) 20% is for developing my own interest, e.g., gym class, language class, pottery class or travelling.

My foreign teacher made a joke and said I was a rational financial expert. On the other hand, he stressed that we should treat our money seriously. On personal finance, we should always have the following five steps:

1. Assessyour current financial situation.

Action: I will have an overall assessment on my assets and liabilities, my income and my expenses. I can make use of some hot app to evaluate the status quo of my account.

2.Set some goals

Action: I will set a goal that I will save up for something that attracts me. I already got a mortgage from the bank for house. I will try to pay it off in next 10 years. When I get retired, I should reach a personal net for a very comfortable retired life.

3.Createa strategy to achieve your goals

Action: On how to accomplish plans, excluding my salary, I will put together some kind of investment package by purchasing some bonds and insurance for the possible return. Making the hazards within my control is important.

4.Put the plan into action

Action: I will set spending priorities in order to stay focused. I will choose 2-3 areas that really matter to me. Supporting my kid through their education and my personal dreams should be kept on hand to remind me why I am doing all of these. Shopping is my favorite, but I should constrain from the overspending. Sure I will have some education programmes that cater to my specific needs, e g, English, French.

5.Monitorand review your progress

Action: Of course keeping monitoring and assessment is crucial to my personal finance

I am the only person who can choose what’s right. Therefore, what I should do is setting plans and execute them.

If you are given 10,000 RMB, how will you spend it? If you know how to take advantage of the extra 10000 RMB, you would surely know how to make full use of 100,000 and more.