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Personal financial management

Unit: Financial Management

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April 2025

 1 Questions
Question 5b
​​Explain THREE reasons why investment management is necessary in making personal financial management decisions.


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December 2024

 1 Questions
Question 5b
​​Explain THREE components of a financial plan in relation to personal financial management.


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August 2024

 1 Questions
Question 4b
​​In relation to personal financial management: 

(i) Explain the term “estate freezing”. 

(ii) Describe TWO advantages of estate freezing.


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December 2023

 1 Questions
Question 2a
​​Explain the following terms as used in personal financial management: 

(i) Retirement planning. 

(ii) Estate tax planning.


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August 2023

 1 Questions
Question 4a
​Financial planning is one of the most crucial steps for any person, regardless of whether they earn any income or not. While many people understand the importance of financial planning, it is still one of the steps that are postponed or skipped: 

With regards to the above statement, summarise FOUR benefits of financial planning to an individual. ​


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April 2023

 1 Questions
Question 5b
​​Outline SIX steps involved in personal financial management.


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December 2022

 1 Questions
Question 3a
​​Identify FIVE ways to achieve personal financial freedom.


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August 2022

 1 Questions
Question 2a
​​Joshua Makau is approaching retirement next year and is expecting a lumpsum pension payment amounting to Sh.20 million. 

Required: 
Recommend four investment products available in the financial market that he should consider to enable him achieve financial freedom.


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April 2022

 1 Questions
Question 3b
​​Outline four reasons behind investors' preference for current income as opposed to future income.


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December 2021

 1 Questions
Question 4a
​​(i) Explain the term "personal financial management". 

(ii) Examine four benefits of managing personal finance efficiently.


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