Personal Financial Management Lecture

Personal Financial Management Lecture

A session in a series of interesting lectures was held on March 13, 2015 at the International University of Sarajevo (IUS). The lecture focused mostly on the management of personal finances and the potential problems and solutions in everyday situations and was given by eminent lecturer from the Faculty of Business and Administration (FBA), Assist. Prof. Dr. Ognjen Riđić at the invitation of the president of the African Students' Association at IUS, Mr. El-Mustapha Ait Sidi Mohammed.

IUS African Students' Association brings together students originating from different countries of Africa such as Ghana, Uganda, Chad, Kenya, Sudan, Burkina Faso, Algeria, Morocco and Mauritania. Assist. Prof. Dr. Ognjen Riđić presented the most important things that every man should have in mind when you want to successfully manage personal finances to all students that were present at this lecture. He stated that we all must pay attention to daily planning of our personal time and finances in our everyday life. ''It is important that each of us learns how important it is to manage our own money, either through depositing money in a bank or through a certain savings, because it is not possible to have any kinds of savings without adequate of financial income '' - said the Assist. Prof. Dr. Ognjen Riđić.

The importance of education in the field of finance and financial management, as well as several other areas such as the fluctuation of the value of money in accordance with the time and computing annuities and individual investments with financial calculator HP 12-C, were stressed out during the lectures. Later on, the students could discuss following thematic areas such as:

  • Tools for Financial Planning,
  • Managing of Liquidity,
  • Personal Financing,
  • Wealth Protection,
  • Personal Saving and Investing,
  • Retirement and Estate Planning.

At the end of the lecture, students asked specific questions and they interacted with the lecturer with different findings related to the topics. Students were most interested in how best to optimize the consumption of their salary in the conditions prevailing in Bosnia and Herzegovina, as well as the optimization of purchasing power.