Life & Budget Planning LifeBudget Putting Balance Back In Your Life.

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

Coast to Coast Mrs. Nichols You will 1 st experiment with User Choice 2 nd go for a Random game 3 rd start lessons with Job Search 4 th experience the.

Budgeting. Starter questions.... What is budgeting?

You’re going to College… Now What?. Make a Plan!

Budgeting. May 7, Budgeting Income May 7, Budgeting Outgoings (expenditure)

COLLEGE STUDENT BUDGET MINI-LESSON

Measuring Your Financial Health and Making a Plan

MONEY MANGEMENT Presented by L Everette Martin November 2010.

Income, Expenses and Budget. Agenda Start time: _____ Break time: _____ (10 minutes) End time: _____ Please set phones to silent ring and answer outside.

16 Money Management and Financial Planning

1 Chapter 2 – Measuring Financial Health Important parts Construct & interpret financial statements Budgeting Record-keeping Financial planners.

Income and Expenses. Income Income from work A. Wage – money paid by the hour or unit of production. B. Salary – money paid on a weekly, monthly, or yearly.

Money Management 28.2.

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

Managing a Family Budget. Overview  Budgeting for family income and expenses is often a lower priority for farm and ranch families than budgeting for.

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

Creating a budget is important to ensure your financial security, monitor your income and expenses, and a way to help you save money. In order for your.

Budgeting CALM 20. Budgeting Failing to financially plan? Planning to financially fail? What is the worst financial decision that you have made in your.

Investing and Personal Finance

Financial Management Project Your name here. I work at: ______________________ I am a _____________________ at ________________________ and make $ _________.

Money Management Strategy

Chapter 3 1) What is the first step in money management? – Organize your financial documents 2) What are two benefits to having your financial documents.

MAKING ENDS MEET Personal Budget for Type your name or family name.

H233 Consumer Management Budget Expenses. Recommended Monthly Spending.

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

Unit 4 Creating a Budget. Objective(s) What is a budget? Activity – Pair up with someone in the room and sit with them and prepare to begin the budgeting.

Personal Finance. Financial Security  Enjoying financial security throughout life is an achievable goal  Budgets and other financial planning tools.

MANAGING YOUR PERSONAL FINANCES- Unit 7 – Creating a Budget.

Which one calculates Net Worth?

Budgeting Adult Living. What is a budget? A budget is a plan for spending and saving your money A budget includes: – Income- the amount of $ you earn.

Bell Ringer  Write down 3 things you know your parents spend money on each month.

Setting Financial Goals

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

By Dominick Ciro. The career I have chosen is a Lawyer. I have chosen this career because lawyers argue cases and get freedom of speech. They also make.

Finding a Job Budgeting & Saving Finding an ApartmentBuying a Car Buying a Home Education & Advance ment

Money Health Check Take the first steps towards a better financial life.

 College or University to attend:  The Ohio State  * Tuition  19,926 (1 year)  79,704(4 years)  * Major  Medical terminology or one of the life.

Created by: Mr. Bock. Salary I choose to base my salary from a career as a teacher that makes $51,250 annually This equates to $788/week or $3,152.00/month.

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

Solve this Problem. Make a plan & solve this problem Your monthly income is $1,000 Expenses + paying yourself 15% = $800 Car will need tires in 6 months.

1 Sample Budget ~ Monthly Income ExpectedActualDifferenceNotes Monthly Income Payroll #1 Payroll #2 Alimony Bonus Child Support Interest & Dividend Income.

MAKING ENDS MEET By: Tiffany Bohl *2015. GPA (GRADE POINT AVERAGE)= 2.24 Career options include: 1. Associates or Technical Degree 2. Complete Certification.

Budgets Introduction © Donal Enright 2008 in association with Teachnet.

Chapter 16 Planning a Budget. Why It’s Important Budgeting techniques help you keep track of where your money goes so that you can make it go further.

BUDGETING, SCHMUDGETING…WHY DO I NEED A SPENDING PLAN? By Julie Chapman for.

CAREER BUDGET NAME 2014 – 2015 CAREER?. CAREER Career Qualifications: Entry Level Pay: Education Loan Payment: Location: Employer: Insert Career Image.

FBI Profiler Jonathan Foster What does an FBI profiler do? Study serial killers and work the cases. The job is dangerous and very time consuming. Free-for-service.

Pp Managing Spending. What to do with the money you earn? Budgeting Your Money Budget: Budget helps you:

 Provides an objective view of your finances  Helps you live within your income  Enables you to chart your financial future.

Why create a budget?  A budget helps you understand where your money goes.  It helps you live within your means and meet your goals.  It helps you find.

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

USING THE BANK INDEPENDENT LIVING NOVEMBER 4, 2015.

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

Creating a Budget for Mike and Jennifer. What is a Budget? Weighing how much you earn against how much you spend.

BUDGETING & SAVING. THE NEXT LOGICAL STEP Let’s review: 1 st we learned how to manage our time What are some important characteristics of good time management?

BY: SUVRAJ MINHAS Getting My Life Together!. My Life In 5 Years… I plan to be finished school and be working as an ECE, which is short for Early Childhood.

Budgeting for Your Future… Ms. Smith Personal Finance.

My Budget and Balancing By James Shirey. Carpentry Carpentry position at Zaveta Custom Homes for interior and exterior construction located in Doylestown,

 Income from work- wages (paid by hour or unit of production) or salary (paid weekly, monthly, yearly)  Income from wealth- things you own- bank accounts,

© Annie Patton Expenditure Money arrives without instructions. (Eddie Hobbs Short Hands, Long Pockets Page 9) So we have a choice, what to do with our.

3.1 A VERAGE M ONTHLY E XPENDITURES Recordkeeping is a way for you to manage your money. Record your monthly expenditures. Can help you find out how you.

1. 2 All About Budgeting What is a budget? Spending guidelines –Creating a realistic budget –Cutting expenses Housing options Benefits of starting now.

PERSONAL FINANCE GAME This project counts as a TEST grade. LISTEN and follow directions! Excel Sheets: 1- MONTHLY BUDGET SHEET 2- CHECKING ACCOUNT 3- SAVINGS.

Cash Flows. Cash Movements Assets are everything of value that is owned by an entity. A future benefit or Potential Gain Purchasing ASSETS will decrease.

Independent Living Skills Kathy Hatch EDUC 668 April 2014.

Making a Budget 7 th & 9 th Grade FACS. How much money do you spend each week?

A little now can go a long way

Almost everything is better when you plan

Cash Management System

Presentation transcript:

Life & Budget Planning LifeBudget Putting Balance Back In Your Life

Home Income comes into our home from various sources. This is managed by a Budget to pay the bills. House payment / rent Vehicle payment & expenses Food/groceries Telephone Rates Insurance

Budgets People should be more respectful of their cash. To plan your budgets – refer to the budget planner. This planner needs to be completed on a daily basis as we tend to forget our expenses to easily. One way I complete my planner is to ask for a receipt ever time I spend money. This helps to make me aware of unnecessary expenditure. These receipts also could be beneficial for taxation purposes. For planning, the yearly expenses can be converted to daily cost by dividing the cost by 365.

Budget Form MonTuesWedThursFriSatSunMonTuesWedThursFriSatSun Food/Groceries Clothing Daily Living Mortgage/Rent Rates Electricity/Gas Telephone Home Repairs H/C Insurance Life Insurance Vehicle Insurance Vehicle Repayment Vehicle Registration Petrol/Public Transport Personal Loans Education/Child Care Medical Cover Holidays Others Weekly Total Weekly Income Surplus/Deficit

Debt Primary goal in life is to get rid of the Negative Debt Positive Debt Tax Benefits –Investment Property –Business vehicle payment –Business phone Negative Debt No Tax Benefits –House payment –Vehicle payment –Personal Loans

Investments One of our goals now, is to create 10 buckets outside the investment block and each of the buckets roll is to produce an income stream for you.

Investment Buckets to generate you money. 1.JOB – Just over broke 2.Super – not guaranteed 3.Investment Property 4.Vending Machine 5.Laundromat 6.Shares 7.Home Business 8. ??????? 9.????????? 10.????????????? This really is your choice as you have to find your passion.

Lifestyle When each bucket is generating you income stream you are not relying on one income stream such as the JOB which if fails we intend to lose everything. If each bucket is generating you an income of $1,000 per week and you have 10 buckets that is $10,000 per week. If one of the buckets fails you income would be reduced to $9, per week.

Lifestyle Lifestyle is what we are all here for. Piece of mind Freedom

No Style Lifestyle Unfortunately most people bypass the investment block and have the income come into their home and go into debt to buy the fancy car, the best home in the street to try and maintain a lifestyle. This is called the NO STYLE LIFESTYLE.

Income HomeBudget Debt Negative Debt No Tax Benefits Positive Debt Tax Benefits Investments To many people go from Income to Lifestyle direct creating NO-STYLE LIFESTYLE JOB Just Over Broke SUPER Investment Property Vending Machine LaundromatShares Home Business Passive Income Lifestyles Boat Holiday Luxury Car