Application of dynamic programming for students financial planning / Najihah Mohd Hasnan ... [et al.]

• Main Authors: Mohd Hasnan, Najihah, Yahya Haris, Afiqah Nornajwa Huda, Mohd Hisham, Siti Noor Ameera, Wan Abdul Aziz, Rossidah, Wan Abdul Aziz, Wan Noor Hayatie
• Format: Article
• Language: English
• Published: Universiti Teknologi MARA, Negeri Sembilan 2023
• Subjects: Mathematical statistics. Probabilities
• Online Access: https://ir.uitm.edu.my/id/eprint/83838/1/83838.pdf; https://ir.uitm.edu.my/id/eprint/83838/

According to Walker (2005), financial planning means a process of framing financial policies in relation to procurement, investment and administration of funds. Having a proper way of handling finances has always been a norm to society because financial planning is not just about handling money concurrently but includes predicting future income, assets values and withdrawal plans (Voigt & Benson, 2022). Every person’s goals vary from each other following personal objectives and purposes meaning that each needs a suitable setting to satisfy each need. Malaysian Reserve reveals that 50% of Malaysian having difficulties in raising RM1,000 during emergencies and only 40% elders are ready for retirement. To only start managing finances during this age will be too late thus this study proposed a financial planning for students. It is to support Malaysians in ensuring a better outcome by exposing young people to a well-behaved plan of managing finances.