General Money Management and Personal Savings and Investment

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Presentation transcript:

General Money Management and Personal Savings and Investment Elements: 45 and 46 Pages 211-214

Money management, Savings, and Investments Objectives Cover the purpose of Money Management Budgeting Debt Management Different types of ways to save and invest

Budget Consist of a way to reach a financial goal. There are four budget statements, which are Income Statement, Balance sheet, Statement of Cash Flows, and statement of retained earnings. Two most useful budget statements are the balance sheet and the cash flow statement.

Balance Sheet (Net Worth Statement) and Cash Flow Statement Describes a family’s financial condition by a specified date. Cash Flow Statement Summarizes income and expense transactions that has taken place over time. Tells the member where their money came from and went.

Debt Management Systematic way to help individuals become debt free. Only to be used for a certain amount of time.

Savings Designed to store money when needed. Doesn’t provide a lot of interest earnings.

Investments Four most common types Bonds Certificate of Deposits (CD) Stocks Mutual Funds

Resources Fleet and Family Relief Center Command Financial Specialist Militaryonesource.com https://bankruptcy.findlaw.com/debt-relief/sample-personal- financial-statement.html https://www.saveandinvest.org/video/how-build-budget