1. Unit 1 Goals, Budgets, and Establishing Credit
Personal Finance
Unit 1
Goals, Budgets, and Establishing Credit

2. 5 steps to Financial Planning
Set SMART goals
Analyze Information
Create a plan
Implement the plan
Monitor and Modify the plan

3. SMART goals
Specific
Measurable
Attainable
Realistic
Time-bound

4. Save $100 for a day trip to Dallas during spring break.
X Not specific: Where will you go during day trip to Dallas? X Not time-bound: By what date do you want to have $100 saved?

5. Save money for a gift. Missing all components.
Specific: Who is the gift for?
Measurable: How much do you want to save for a gift?
Attainable: Is the value attainable?
Realistic: Is the gift/ or value realistic?
Time-bound: By what date do you want to have the value saved?