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In this unit, we studied the value of personal finance in our personal lives and in the world of business. From budgeting to how to save and invest effectively, the number of choices in life and business that revolve around good money management surprised me. This made me realise that finance is not just about numbers, it's about making decisions that ultimately meet our needs for both short-term and long-term goals.
One of the most valuable things I learned about in this unit is the different ways in which money is used in business and personal life. For instance, we studied the way business determines cash flow, expenses, and growth. This knowledge relates to business survival and success, it is very meaningful. On a personal level, we talked about how to budget, making a case for saving for emergencies, and learning how to deal with credit. I found it enlightening how directly these concepts related to our financial health, and that of the business as a whole.
This unit showed us that money management is more than buying and paying bills. It's about making good decisions that set you up to be financially successful, personally and in business. I also learned that financial literacy is essential in today's society, especially if you're looking to open a business or manage a company's financial health.
Overall, this was probably my biggest takeaway from the unit. The practical information and skills I have learned will be beneficial throughout my life, regardless of what career I end up pursuing. The skills we learned regarding budgeting, saving money, investing, and financial planning are going to be very relevant and useful for any individual entering the workforce or considering starting their own business. All in all, this was a very enlightening experience, it highlighted how connected money is to most aspects of life and business and how understanding money can lead to better decisions and your success in managing it.
Marwah Ahmed - Year 12 Humanities Prefect
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