1. Topic 4 – Allocating Your Money Wealth Management 2010

2. Determine Your Personal Net Worth ● Definitions: assets, liabilities, net worth ● Identify personal assets ● Identify personal liabilities ● Calculation of personal net worth ● Knowing personal net worth can be beneficial ● Prepare personal net worth statement

3. How to Go Broke Like a Rock Star ● Who do you think is the wealthiest rock star? ● What makes him/her the wealthiest? ● Is the rock star who made the most money this year necessarily the person who is the wealthiest? Why or why not? ● How could a rock star who sells out concerts and is at the top of the charts go bankrupt?

4. The NFL and VISA © ● Financial Football – Revenues – Assets – Liabilities – Expenses ● Activity

5. Calculate Your Own Net Worth

6. Develop a Personal Budget ● Definitions: personal budget, income, expenses ● Common personal income and expenses ● Distinguish between fixed and variable expenses ● Importance of a personal budget ● Steps for developing a personal budget ● Tracking and analysis

7. Activity