Instructional Materials Example 1 Good & Poor Management Video – Storyboard Marla Everson –D2 Happy people living a good life and enjoying the benefits of good financial management. Good financial planning allows you to purchase homes, go on vacation, and enjoy life with good credit. A less desirable lifestyle demonstrating the repercussions for poor financial management or failure to stick to a budget. Creating a budget and sticking to it is essential. A few minutes each week is all that is required. Keep track of all money coming in and going out. You can write it down or use a computer program. Make good financial decisions. Shop on sale, prepare nutritious and inexpensive meals at home, stick to the budget., and learn to say “no”. Making poor financial decisions leads to a spiraling negative financial situation. Short term lending, maxing out credit limits and letting bills fall into delinquency worsen the condition. Poor financial management leads to poor credit and missed opportunities. A low credit score means that almost everything will cost you more. Some employees will not hire or keep employees with poor credit scores. macombapartments.net healthywealthymommy.comthegrocerygame.com debtmanagementtool.com cartoonstock.com gobankingrates.com

Instructional Materials Example 2 Create A Budget Worksheet Marla Everson - D2 Creating a budget is easy if you follow these steps. 1.List all of your bills in column 1. 2.List the monthly payment for each bill in column 2. 3.List the total balance due in column 3. 4.Enter the date of each of your paydays. For this example, we included two month’s worth of paydays. 5.List the amount of each paycheck under the date. 6.Enter how much you will pay for each bill on each payday. Put a minus (-) sign in front of it to show that it is an expense. 7.Use a calculator to add up all of the expenses (bill payments) 8.Subtract that number from the amount of the paycheck. 9.Use “extra” money to pay down debt, add to savings, and enjoy life. tofilebankruptcyornot.com

Example of a Two Month Budget Plan In this example, if we add up everything that is due in one month, it would come to $2000. If we get two paychecks per month, we bring home about $2400 each month. That leaves about $400 extra per month for savings, paying down debt, entertainment, and other expenses. It seems simple doesn’t it? In a perfect world, this is exactly how it would work. In reality, most people are not that disciplined and tend to spend all of the “extra” money plus some of the money allotted for bills on things that they do not need. With a budget plan in place and a positive attitude toward getting the finances in order, anyone can achieve this! rhemawelfarefoundation.com

Using Excel to Manage the Budget If you are computer savvy, you can use Microsoft Excel to easily manage your budget and track actual spending. We have already created the formulas which will perform all of the calculations for you. We also color coded the cells for income in green and the expenses in red. The Total cell is also coded red or green to show overspending or “extra” money. Follow these steps to create your budget worksheet in Excel. 1.Open Excel on your computer. 2.Open the NMDG Budget Spreadsheet file. 3.List all of your bills in column 1. 4.List the monthly payment for each bill in column 2. 5.List the total balance due in column 3. 6.Enter the date of each of your paydays. For this example, we included two month’s worth of paydays. 7.List the amount of each paycheck under the date. 8.Enter how much you will pay for each bill on each payday. Put a minus (-) sign in front of it to show that it is an expense. Barnston.info

Example of a Budget Plan in Excel In this example, we listed the same bills and income for each payday as before. But on 10/15/11, we spent more than we budgeted for on Personal Care. Instead of having extra money, we now have overdrawn our checking accounts by $50. Typically, the bank will charge about $35.00 for a bounced check fee and the merchant may also charge a $25.00 fee. If we do this on a consistent basis, our finances will spiral out of control quickly. That is why it is important to evaluate your current spending habits and set goals to get control of your finances. financial-advice-for-beginners.com