FIN1 FTU - Stage 3

F1 – Project-Stage 3: Planning Future Careers TCHE322 Thomas (2009). Chapter 2 Hoff et al (2020). Interest fit and job satisfaction: A systematic review and meta-analysis. Journal of Vocational Behavior Willson, R. (2017). A guide for the idealist: Launching and navigating your planning career. Routledge. 1 Personal finance planning Personal finance planning process 1. Define financial goals. 2. Develop financial plans and strategies to achieve goals. 3. Implement financial plans and strategies. 4. Periodically develop and implement budgets to monitor and control process toward goals. 5. Use financial statement to evaluate results of plans and budgets, taking corrective action as required. 6. Redefine goals and revise plans and strategies as personal circumstances change. Essential Information of personal financial plans * 1. A summary of the goals 2. Significant assumptions and justification 3. Estimates 4. Recommendations 5. A description of limitations on the work performed 6. The recommendations in the engagement should contain qualifications to the recommendations if the effects of certain planning areas on the client’s overall financial picture were not considered. * Adapted from Paragraph .35, Statement on Standards in Personal Financial Planning Services No. 1 3 Schedule of lectures Project topic covered • Careers identification and planning The key steps in career planning Clarify your work-style personality Analyse the financial and legal aspects of employment Groupwork project activities • Identify what you want to do • Analyse career path in the chosen career 4 Key steps in career planning 5 Steps in career planning – Create your career goal and career plan • A career goal can be a specific job (e.g., cost accountant, teacher, human resources manager) or a particular field of work (e.g., health care, communications, construction). • It helps guide you to do the kind of work you want in life rather than drift from job to job. • To create a career goal, explore the jobs, careers, and trends in the employment marketplace that fit your interests and skills. • Ask people about careers. • Search websites, such as those in US the Occupational Outlook Handbook for research the education requirements. • A career plan identifies employment that interests you; fits your abilities, skills, work style, and lifestyle; and provides strategic guidance to help you reach your career goal. • It includes short-, medium-, longer-, and long-term goals as well as future education and workrelated experiences that will serve to advance your career interests. 6