GENC3003 Week 1 Journal

This is my first time to choose a commerce course called "Personal Financial Planning". I think I had some common sense about my personal financial planning before, but after I began to learn this course, I think I know little. I do not have any sense of specific knowledge about investment, variable interest rate and fixed interest rate of property. However, the reason why I choose to learn this course is because I want to improve myself, I want to plan my future, I want to do my own business and I think I have a brain of financial planning. Hence, after I finished week 1’s part, I know about it a little, but I know it is just a beginning. Afterwards, I talked to my part-time job’s boss about investing in property. He strongly agreed my opinion and then he helps me to calculate my boy friend and my five years’ rent. Finally, we find that if we buy a unit worth 400,000, and we can loan about 80% from the bank (because we are international students), so the five years’ rent equals capital payment. Now, I discussed with my parent about buying a property, they think it is a feasible method, but I still need to know it in details, such as high entry and exit fees, mortgage payments and so on.