PERSONAL FINANCE Mr. Mark Harris.

Slides:

Advertisements

Similar presentations

© Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials–

Advertisements

G1 © Family Economics & Financial Education – Revised April 2008 –Values, Needs vs. Wants, & Goal Setting Unit – Setting Financial Goals Funded.

© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants Funded by a.

NEFE High School Financial Planning Program Unit One - Your Financial Plan: Where It All Begins Financial Responsibility and Decision Making: Where It.

Personal Financial Planning

Values, Needs, Wants, and Goal Setting Introduction

Values and Goals. What if... Your house were on fire and all people and animals were safe, what three things would you take? Your house were on fire and.

Exploring Values, Needs & Wants. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring.

Goals Galore! G1 © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Goals Galore! – Slide.

© Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials–

Goals Galore! Ms. Barucky G1 © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Goals.

Values, Needs, Wants, and Goal Setting Introduction The Essentials to Take Charge of Your Finances.

Values, Needs, Wants, and Goal Setting Introduction The Essentials to Take Charge of Your Finances.

G1 Setting Financial Goals “Take Charge of Your Finances” Advanced Level.

February 11, 2015 Write a 2 paragraph (5 sentences each Paragraph) summary of your Health and Wellness Wheel What are your strong dimensions What are your.

Values. Lesson Objectives –Budget for item(s) upon which you place a significant value –Realize different values held by classmates –Understand the relationship.

Goals and Budgeting Ms. Rendek. The importance of setting goals and maintaining them...no matter how hard it may be.

Goals Galore! G1 © Take Charge Today– Revised April 2007 –Goals Galore! – Slide 2 Funded by a grant from Take Charge America, Inc. to the Norton.

9.0 Analyze the use of available resources to achieve goals. Teen Living.

© Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials–

© Family Economics & Financial Education – Revised February 2006 – Get Ready to Take Charge of Your Finances – One Scoop or Two? Funded by a grant from.

Needs vs Wants.

G1 Setting Financial Goals “Take Charge of Your Finances”

DO NOW: In your notes, write down 5 reasons why people work.

© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants Funded by a.

Exploring Values, Needs & Wants. © Take Charge Today – Revised April 2007 – Exploring Values, Needs & Wants – Slide 2 Funded by a grant from Take Charge.

WHEN IT COMES TO MONEY, WHY DO WE DO WHAT WE DO? By Julie Chapman for.

G1 © Family Economics & Financial Education – Revised April 2008 –Values, Needs vs. Wants, & Goal Setting Unit – Setting Financial Goals Funded.

G1 Setting Financial Goals “Take Charge of Your Finances” Advanced Level.

Money Management What is financial planning?. Introduction  “Financial Independence”—What does it mean to you?  Work because you want to, not because.

G1 Setting Goals. © Family Economics & Financial Education – Revised April 2010 –Values, Needs vs. Wants, & Goal Setting Unit – Setting Financial.

Goals Galore! G1 © Take Charge Today– Revised April 2007 –Goals Galore! – Slide 2 Funded by a grant from Take Charge America, Inc. to the Norton.

G1 © Family Economics & Financial Education – Revised April 2008 –Values, Needs vs. Wants, & Goal Setting Unit – Setting Financial Goals Funded.

Exploring Values, Needs & Wants. © Take Charge Today – Revised April 2007 – Exploring Values, Needs & Wants – Slide 2 Funded by a grant from Take Charge.

Values & Goals. A. Anything that is DESIRABLE, WORTHWHILE, and IMPORTANT B. Influenced by FAMILY, FRIENDS, TEACHERS, COACHES, TV, MOVIES, etc. C. Each.

G1 Values, Needs, Wants, and Goal Setting Essentials- Advanced Level Economics and Financial Education.

Setting Financial Goals

Exploring Values, Needs & Wants

The best way to figure out who we are or who we want to be is to determine our personal values and Goals!

Setting Financial Goals

VALUES, NEEDS, WANTS, AND GOAL SETTING ESSENTIALS

“Take Charge of Your Finances” Advanced Level

Exploring Values, Needs & Wants

Exploring Values, Needs, Wants, Goal Setting & Decision Making

Setting Goals Changes to slide 6, 7, 10, 11, 12, 13.

Remember to put phones in the caddy.

“Take Charge of Your Finances” Advanced Level

VALUES, NEEDS, WANTS, AND GOAL SETTING ESSENTIALS

Exploring Values, Needs & Wants

Financial self-management

Setting Financial Goals

VALUES, NEEDS, WANTS, AND GOAL SETTING ESSENTIALS

Decision Making.

Vision, Goals, Opportunity Costs

Setting Financial Goals

Setting Financial Goals

Setting Financial Goals

Setting Financial Goals

Exploring Values, Needs & Wants

Setting Financial Goals

Remember to put phones in the caddy.

Financial Planning Essential Questions

Setting Financial Goals

Financial Decisions Advanced Level

Setting Financial Goals

Exploring Values, Needs & Wants

VALUES, NEEDS, WANTS, AND GOAL SETTING ESSENTIALS

Exploring Values, Needs & Wants

Setting Financial Goals

Presentation transcript:

PERSONAL FINANCE Mr. Mark Harris

Exploring Values, Wants, and Needs

OBJECTIVES Define value. Explore personal values. Identify the difference between a need and a want. Understand how personal financial decisions are influenced by an individual’s interpretation of needs and wants. Define goals. Differentiate between short-term and long-term goals. Establish SMART goals for participation in this class this semester.

VALUES Something that is desirable, worthwhile, and important Influenced by family, friends, teachers, coaches, television, and movies Each person has different values which guide his/her daily decisions

WHAT ARE YOUR VALUES? Name three values that are important to you.

BEST FRIEND ADVERTISEMENT Write an advertisement for a best friend Include at least five qualities or characteristics you desire or value in a friend Describe why those qualities are important to you.

NEEDS VS. WANTS Need - something necessary or required for life Name some needs???

How Much Money Does A Person Need? Families in India earn $1.00 to $2.00 a day. Could your family live off $1.00 to $2.00 a day? What do you think families in India think they NEED?

How Do Values Influence Needs? You need shelter, but do you NEED a mansion? You need clothes, but do you NEED designer clothes? WHAT DO YOU NEED?

NEEDS VS. WANTS Want - something unnecessary but desired May increase the quality of living or make a person happier

How Do Values Influence Wants? If being popular or having all of the newest gadgets is valued, a person may have a lot of wants. WHAT DO YOU WANT?

A WANT OR A NEED? YOU DECIDE… Food I-Pod Cell Phone Clothes Car Nike Sneakers Hot Tub Computer

THOUGHT PROVOKING? How do values influence how people spend money? Example: If an individual values helping others, he may decide to give money to a church or other charitable groups

How do needs and wants influence how people spend money? THOUGHT PROVOKING? How do needs and wants influence how people spend money?

REVIEW. . . What is a value? Who influences values? What is a want? What is a need? How do values, wants, and needs influence financial decisions?

GOALS

Identifying goals makes decision making easier. A goal is defined as the end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future. Identifying goals makes decision making easier.

Short-term goals are specified as less than one year Financial goals are specific objectives to be accomplished through financial planning Education goals enable individuals to prepare for future success in the workplace Short-term goals are specified as less than one year Long-term goals are specified as more than one year

SMART Educational Goals

Activity for Review Work with your partner on the activities of Chapter 1 of your NEFE workbook.