Setting Financial Goals

Slides:

Advertisements

Similar presentations

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

Advertisements

Financial Head Start. Why care? It’s Your MONEY 2.

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

Subtitle Making and Living Within a Budget. How should you spend your money? How do you spend your money?

Securing Your Financial Future Cash Management Presented by Teresa Muench NEA Member Benefits April 4, 2015.

Which one calculates Net Worth?

BUDGETING. Budget Categories  Income--$$$ coming IN  Expenses--$$$ going OUT  Fixed  Flexible  Discretionary  Savings (10% of income)

Building: Knowledge, Security, Confidence Budgeting.

Unit 6.3 Part 1 Budget Categories. What is a Budget? A plan for spending and saving money Most people think budgets are: –Rigid and inflexible –Painful.

Setting Financial Goals

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

BUDGETING. Budget Categories  Income--$$$ coming IN  Expenses--$$$ going OUT  Fixed  Flexible  Discretionary  Savings (10% of income)

Only 40 percent of Americans use a budget to plan their spending… The rest routinely spend more than they can afford.

College lesson one the art of budgeting. College – Lesson 1 - Slide 1-A the budgeting process phase 1: Assess your personal and financial situation (needs,

SPENDING PLAN. Spending Plan  A spending plan is a financial statement you can use to assist in money management  also known as a budget.

Balancing the Budget: Fitting It All In!. “What does it mean to be financially responsible?” What was the last big purchase you made? What decisions and.

Money Matters. Money Matters 2 Welcome 1.Agenda 2.Ground Rules 3.Introductions.

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

Unit 6.3 Part 1 Budgeting. Purpose Learn how to manage money by preparing a personal spending plan Identify ways to decrease spending and increase income.

BUDGETING FOR MAJOR EXPENSES Adapted in partnership with ©2015 Educurious Partners--All rights reserved UNIT 3 LESSON 2 1.

MATH BELL RINGERS SKILLS FOR EVERYDAY By: Mindy Lingo M.Ed. Sooner Scholar University of Oklahoma.

A little now can go a long way

personal finance ms. gorski spring 2017

The Homebuyer’s Guide Chapter 2 Money For Housing.

Module 1: Introduction to Money Management

Personal finance unit (Don’t be a dope with your money)

Creating a Personal Budget

What are the benefits of having a budget?

math BELL RINGERS: Skills for Everyday

Setting Financial Goals

How will you spend your money?

Spending Plans Advanced Level.

Managing YOUR Money! Personal Finance.

College lesson one the art of budgeting presentation slides 04/09.

Spending Plans Advanced Level.

Spending Plans Advanced Level.

Spending Plans.

Personal finance unit (Don’t be a dope with your money)

Spending Plans Advanced Level.

WHAT SHOULD YOU KNOW ABOUT BUDGETING?

Spending and Savings Most people cannot obtain all of their wants. Instead, they have to make choices. Making a personal budget helps people understand.

Budgeting Grade 9.

Resource Management FCS.

Spending Plans Advanced Level.

College lesson one the art of budgeting presentation slides 04/09.

Spending Plans Advanced Level.

Spending Plans Advanced Level.

College lesson one the art of budgeting presentation slides 04/09.

lesson three the art of budgeting presentation slides

Spending Plans Advanced Level.

Spending Plans Advanced Level.

Spending Plans Advanced Level.

Budgeting Creating a Personal Budget

More Budget Practice Financial Literacy.

Spending Plans Advanced Level.

Spending Plans Advanced Level.

Planning a budget.

Budgeting Take Charge.

College lesson one the art of budgeting presentation slides 04/09.

Teens the art of budgeting 04/09.

Teens lesson three the art of budgeting presentation slides 04/09.

Budgeting for a Baby.

Chapter 6 Budgeting.

Managing Money Chapter 13.

Presentation transcript:

Setting Financial Goals Making A Budget Setting Financial Goals

NEEDS vs. WANTS NEEDS Essentials Food Clothing Shelter

NEEDS vs. WANTS WANTS Simply things to increase the quality of living.

To Make a Budget or NOT Make a Budget?

What is a Budget? An important step to financial security. About Choices - Choosing how to make and spend money.

Preparing a Budget Budgeting is about: Choosing how to use your money. Knowing what your income and expenses are every month.

Four Steps to Preparing a Budget Keep track of your daily spending. Determine what your monthly income and expenses are the month before they are due. Decrease spending. Increase Income.

Step 1 Keep Track of Daily Spending Control Your Money! Know where your money goes. Cut expenses to save for goals. Keep a personal spending diary. Set Your Goals Be realistic. Be specific. Have a time frame. Have a milestone.

Step 2 Income & Expenses Allowances Wages from a job Income comes from... Expenses you pay… Allowances Wages from a job Miscellaneous work Interest Investments Housing Car Payment Food & Clothing Utility Bills Child Car Entertainment

Expenses (Everything you pay for in a time period.) Fixed Expenses Car Payment Rent Flexible/ Variable Expenses Electricity Food Clothing Entertainment Periodic Expenses Insurance Subscriptions License renewals Warranties/ Service Agreements

Step 3 Find Ways to Decrease Spending Carrying little cash Controlling credit card use Not shopping for “fun” Remembering your savings goals Paying your bills on time

Step 4 Find Ways to Increase Income Get a second job or job that pays more to increase income. Use certain tax credits that can help you increase your income.

Budgeting Tools These help you manage your budget: These help you: Monthly Payment Schedule. Monthly Payment Calendar. Computer Systems. These help you: Record income in advance. Plan ahead to pay your bills.

To Make a Budget or NOT Make a Budget?

http://www. saveandinvest. org/MilitaryCenter/P124790 http://www http://www.saveandinvest.org/MilitaryCenter/P124790 http://www.youtube.com/watch?v=690uBULupmw