Final Monthly Budget Financial Literacy Monthly Budget.

Slides:



Advertisements
Similar presentations
Mrs. Wilson Business Essentials. This lesson provides information about money management basics and the reports used to measure financial progress.
Advertisements

Money Management Strategies
Financially Defined Credit is the granting of money or something else of value in exchange for a promise of future repayment.
C H P ERSONAL F INANCIAL S TATEMENTS. Goals: Explain the basics of money management. Create a personal balance sheet. Develop a personal cash flow.
PERSONAL FINANCIAL STATEMENTS Chapter How Much Money Will You Earn in Your Lifetime?  From the U.S. Census Bureau, Current Population Survey, Educational.
Personal Financial Statements Ch PoB  Money Management – refers to the day-to-day financial activities associated with using limited income.
Personal Finance – An Introduction Dr. Steven M. Hays Personal Finance BKHS – Fall 2011.
Which one calculates Net Worth?
Section 1Organizing Financial Records Budgeting How do your spending options fit: Day-to-day financial activities necessary to get the most from one’s.
Financial Management Jonathan Banks. 1. Get Paid What You're Worth and Spend Less Than You Earn 1. Get Paid What You're Worth and Spend Less Than You.
CHAPTER THREE: MONEY MANAGEMENT & STRATEGY UNIT ONE PLANNING PERSONAL FINANCES “I didn't end up going bankrupt... I made some great investments and I held.
10-4 CASH FLOW AND BUDGETING
Budgeting Personal Finance. Financial Planning Net Worth Income Expenditures Unplanned Expenditures Debt Savings.
© South-Western Educational Publishing Chapter 8 Budgets and Financial Records Budgeting and Record Keeping Filing Systems Budget: Keeping track of income.
Chapter 3 Section 3.1 and 3.2.  Money Management  Spend your money on clothes or save it?  Shopping around for better deal on mp3 player?
Section 1: What is a Budget.  Distinguish a budget vs. a financial plan  Define: Scarcity, Budget (balanced, deficit, surplus), assets, net worth statement,
Mr. Stasa – Willoughby-Eastlake City Schools ©
Financial Statement Basics BDI3C. Major Financial Statements  Balance Sheet Individual: Net Worth Statement  Income Statement  Cashflow Statement.
Debt-to-Equity Ratio Debt-to-equity ratio is another simple ratio Debt to Equity Ratio is used to: – Calculate Net Worth – Give you a picture of your long-term.
Learning Objective # 3 Develop a personal balance sheet and cash flow statement.
BUDGETING FOR MAJOR EXPENSES Adapted in partnership with ©2015 Educurious Partners--All rights reserved UNIT 3 LESSON 2 1.
Ch Personal Finance Personal Finance. How much money will the average American earn in their working lifetime? (35 years) How much money will the.
Topic 5: Cash Flow Management
Personal Financial Literacy
BUDGETING (part 2) Mr. Stasa – W-E City Schools © 1.
Financial Algebra © Cengage/South-Western Slide 1 PREPARE A BUDGET 10-1Utility Expenses 10-2Electronic Utilities 10-3Charting a Budget 10-4Cash Flow and.
Assets and Liabilities. Assets- Items you own that have a value Liabilities- Debts you owe Net worth- Value of assets minus liabilities Checking Account.
Statement of Financial Position
BUDGETING FOR MAJOR EXPENSES Adapted in partnership with ©2015 Educurious Partners--All rights reserved UNIT 3 LESSON 2 1.
Statement of Financial Position
Statement of Financial Position
Statement of Financial Position
“I’ve got a great job and no bills. I still live at home
Budgeting after you have identified your financial goals
Federal Reserve Bank of Dallas El Paso Branch
PFIN 2 5 USING FINANCIAL STATEMENTS AND BUDGETS
Statement of Financial Position
Topic 4 – Allocating Your Money
Completing Your Budget
Personal Finance Balance Sheet
Disclaimer: The views expressed are those of the presenter and do not necessarily reflect those of the Federal Reserve Bank of Dallas or the Federal Reserve.
Statement of Financial Position
STARTER Choose one below to complete:
Section 3.2 Personal Financial Statements
“Where Did All the Money Go?”
Creating a Net Worth Statement
Spending Plans.
Statement of Financial Position
Statement of Financial Position
Session Two A Financial Physical
14.4 Figuring out a Net Worth statement
Statement of Financial Position
Statement of Financial Position
Statement of Financial Position
Personal Financial Literacy Journal
Spending Plans Advanced Level.
Budgeting Houston Community College Financial Literacy and Capabilities Module pt. 4.
Statement of Financial Position
Statement of Financial Position
Statement of Financial Position
Statement of Financial Position
Statement of Financial Position
Financial Statements, Tools, and Budgets
Statement of Financial Position
Financial Literacy For today: What is important to know?
Statement of Financial Position
“Take Charge of Your Finances” Advanced Level
DEVELOPING YOUR FINANCIAL STATEMENTS AND PLANS
Chapter 4 Financial Decisions and Planning
Presentation transcript:

Final Monthly Budget Financial Literacy Monthly Budget

Learning Outcomes Students will view details of example monthly budgets Students will create a monthly budget using the template provided Financial Literacy Monthly Budget

Lesson Tasks Students will learn about the idea of wealth and how wealth can take on different forms. Student will compare two different budgets and create their own monthly budget with the goal to have their balance equal to zero. Financial Literacy Monthly Budget

Determining Wealth

Juanita – earns $35,000 per year Who is Wealthier? Juanita – earns $35,000 per year Assets Home $60,000 Retirement $24,000 Automobile $8,000 Total Assets $92,000 Liabilities College loan $6,000 Mortgage $35,000 Total Liabilities $41,000 Net Worth $51,000 Financial Literacy Monthly Budget

Who is Wealthier? Alexis – earns $100,000 per year Assets Net Worth Home $75,000 Retirement $35,000 Automobile $8,000 Total Assets $118,000 Liabilities College loan $10,000 Automobile loan $4,000 Credit card debt $20,000 Mortgage $65,000 Total Liabilities $99,000 Net Worth $19,000 Financial Literacy Monthly Budget

Juanita – earns $35,000 per year Who is Wealthier? Juanita – earns $35,000 per year Alexis – earns $100,000 per year Assets Home $60,000 Retirement $24,000 Automobile $8,000 Total Assets $92,000 Liabilities College loan $6,000 Mortgage $35,000 Total Liabilities $41,000 Net Worth $51,000 Assets Home $75,000 Retirement $35,000 Automobile $8,000 Total Assets $118,000 Liabilities College loan $10,000 Automobile loan $4,000 Credit card debt $20,000 Mortgage $65,000 Total Liabilities $99,000 Net Worth $19,000 Financial Literacy Monthly Budget

Review and complete

Review What should be the ending balance of your monthly budget? What can cause a change in your budget? What is the most important part of the budgeting process? Financial Literacy Monthly Budget

Review What should be the ending balance of your monthly budget? $ 0.00 What can cause a change in your budget? Changing monthly expenses What is the most important part of the budgeting process? Knowing where your money is going Financial Literacy Monthly Budget

Complete the lesson… Calculate your spending allowance for each category based on future salary on the Final Monthly Budget. Investigate areas of your budget so that you better understand what the categories will mean for you. Financial Literacy Monthly Budget