1. Financial self-management
$ Goals Galore!
Financial self-management

2. OPPORTUNITY IS NOWWHERE Opportunity is no where
What do you read?
OPPORTUNITY IS NOWWHERE
Opportunity is no where
Opportunity is now here

3. What is a value
A belief or practice of what is desirable, worthwhile and important to an individual.
Family, successful career, having money
Guide decisions
If a person values financial security, they may focus on saving, investing, and/or finding a high paying career.
Influenced by experiences, family, friends, teachers, religious affiliations, work/career, media, the law...

4. What is a Goal? Something a person intends to accomplish
Setting goals are like following a road map
Would you set out on a cross-country adventure without a road map?
Provide direction
Focus on the important things
Keep the end result in mind

5. Types of Goals - Review
Short-Term – can be accomplished within one year
Improving grades at school
Making the basketball team
Saving money to buy a new MP3 player
Long-Term – can be accomplished in more than one year
Attending college
Getting a great job
Buying a new car
Read your game card
Decide whether the goal is a short-term or long-term goal
Move to the appropriate side of the room
Explain your decision

6. What do these have to do with our
What is a Need vs. a Want
Need
Want
Something thought to be a necessity, essential items required for life and survival.
Food, water, shelter
Something unnecessary, but desired. Items which increase the quality of living.
Car, cell-phone, designer clothing
What do these have to do with our
Value’s and our goals?
Do the need vs. want room movement activity. Values and goals guide a person’s needs and wants.

7. SMART Goals SMART Goals Specific Measurable Attainable Realistic
State exactly what is to be done
Measurable
Include how the goal can be measured
Attainable
Determine steps to reach the goal
Realistic
Do not set goals for something unrealistic
Time Bound
State when the goal will be met

8. Goals
Goal – the end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future
Financial goals – specific objectives to be accomplished through financial planning
Education goals - enable individuals to prepare for future success in the workplace

9. SMART Education Goal Goal – “I want to attend college.” SMART goal –
Specific – I want to attend a four year college
Measurable – Because I want to attend a four year college, I will earn a B in algebra
Attainable – Because I want to attend a four year college, I will earn a B in algebra this semester
Realistic – Because I want to attend a four year college, I will earn a B in algebra this semester to prepare me for the college entrance exam
Time Bound – Because I want to attend a four year college, I will earn a B in algebra this semester to prepare me for the college entrance exam when I am a junior in high school
Bolded each element of a SMART goal

10. SMART Education Goals Specific Measurable Attainable Realistic
State exactly what is to be done with the education aspect involved
Specific
Write the exact grade or class that the goal is for
Measurable
Determine how it can be reached, which is often determined by academic work
Attainable
Do not set goal for something unattainable or unrealistic
Realistic
Specifically state when the goal needs to be reached
Time Bound
Notice what was written

11. SMART Financial Goal Goal – I want to buy a new car SMART goal –
Specific – I plan to save for a down payment on a new car
Measurable – I plan to save $5,000 for a down payment on a new car
Attainable – I plan to save $5,000 for a down payment on a new car by saving $200 from every paycheck
Realistic – It is realistic to save $200 from each paycheck for a down payment on a car because I usually waste the money on unnecessary items instead of saving it
Time Bound – I plan to save $5,000 for a down payment on a new car by saving $200 from each paycheck for two years.

12. SMART Financial Goals
State exactly what is to be done with the money involved
Specific
Write the exact dollar amount the goal is for
Measurable
Determine how it can be reached, which is often determined by the individual’s budget
Attainable
Do not set goal for something unattainable or unrealistic
Realistic
Specifically state when the goal needs to be reached
Time Bound

13. What is Missing?
Find the missing element (specific, measurable, attainable, realistic, or time bound) in the following financial goals
Financial Goal #1
I plan to save $5,000 for college living expenses in four years.

14. What is Missing?
Financial Goal #1 Answer:
Attainable

15. What is Missing?
Find the missing element (specific, measurable, attainable, realistic, or time bound) in the following financial goals
Financial Goal #2
I plan to save for a new computer by saving $150 each month for one year.

16. What is Missing?
Financial Goal #2 Answer:
Measurable

17. What is Missing?
Find the missing element (specific, measurable, attainable, realistic, or time bound) in the following financial goals
Financial Goal #3
I plan to save $2,500 by saving $105 each month for 2 years.

18. What is Missing?
Financial Goal # 3 Answer:
Specific

19. What is Missing?
Find the missing element (specific, measurable, attainable, realistic, or time bound) in the following financial goals
Financial Goal #4
I plan to save $1,500 to buy a used car by saving $75 from each paycheck

20. What is Missing?
Financial Goal # 4 Answer:
Time Bound

21. What is Missing?
Find the missing element (specific, measurable, attainable, realistic, or time bound) in the following financial goals
Financial Goal #5
I plan to save $2,000 to pay for a new computer by saving my whole paycheck for the next 6 months

22. What is Missing?
Financial Goal # 5 Answer:
Realistic

23. Here Is A Challenge! Supplies: A piece of paper
Task: Create a paper airplane that flies across the room
But….Before you build, write down a SMART GOAL to serve as your road map
Ready – Set – Build!

24. Did You Reach Your Goal? Was your goal specific?
How did you measure if you reached your goal?
Was your goal attainable or possible?
Was your goal realistic?
How much time did you set aside to achieve your goal?

25. SMART Goals
In order to set goals effectively, they need to be well written
Edit the goal you wrote for the paper airplane using these guidelines:
Specific – State exactly what is to be done
Measurable – Include how the goal can be measured
Attainable – Determine steps to reach the goal
Realistic – Do not set goals for something unrealistic
Time Bound – State when the goal will be met

26. SMART Goals
How can setting SMART education and financial goals help a person reach future success?
It is like following a road map
SMART goals provide direction
SMART goals allow a person to focus on important things
SMART goals help people keep the end result in mind

27. What would you do?
Groups decide the fate of the family.

28. AUCTION
How much are you willing to pay?

29. Your financial Self-management plan
Wallet size reminder.