Reference no: EM132908678

Arif's Need to Know: Personal Finance or Golf.

• During the semester break of his final year at the University Utara Malaysia (UUM), Arif plans to put together his resume in order to seek full-time employment as a software engineer during the spring semester. To help Arif prepare for the job interview process, his older brother has arranged for him to meet with a friend, En. Kumar, who has worked as a software engineer since his graduation from University Utara Malaysia (UUM) two years earlier. En. Kumar gives him numerous pointers on résumé preparation, the interview process, and possible job opportunities. After answering Arif's many questions, En. Kumar asks Arif to update on what he's up to at University Utara Malaysia (UUM). As they discuss courses, En. Kumar shares that of all the electives he took, the personal financial planning course was most useful. Arif says that, although he had considered personal financial planning for his last elective, he's currently leaning toward a beginning golf course. He feels that the course will be fun because some of his friends are taking it. He points out that he doesn't expect to get rich and already knows how to balance his check book. En. Kumar tells him that personal financial planning involves much more than balancing a check book, and that the course is highly relevant regardless of income level. He strongly believes that the personal financial planning course will benefit Arif more than beginning golf, a course that he also took while at University Utara Malaysia (UUM).

Problem a) Describe to Arif the goals and rewards of the personal financial planning process.

Problem b) i) Discuss the THREE (3) key groups of financial planning environment.

ii) What is the impact of economic conditions on financial planning?

Problem c) What arguments would you present to convince Arif that the personal financial planning course would benefit him more than beginning golf?