1. PLAN FOR LIFE 1 1.1 THE IMPORTANCE OF PLANNING
1.2 DEVELOP A CAREER PLAN
1.3 MAKE A BUDGET
1.4 MANAGE YOUR MONEY

2. INDUSTRY INDICATORS British Petroleum
Has stores that provide food, convenience goods, and gasoline products and services
Is forming alliances with fast food restaurants
Provides petroleum products to the aviation and shipping industries
Is developing solar energy plants
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3. Lesson 1.1 The Importance of Planning
Goals
Explain the process of planning.
Discuss planning for your life.
Describe a balance between planning and impulsiveness.
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4. WHAT IS PLANNING? PERSONAL GROWTH WHAT IS A PLAN?
A specific plan is needed to obtain each goal.
WHAT IS A PLAN?
Plan
a method or process worked out in advance that leads to the achievement of some goal
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5. Rule #1
If you want to enjoy a successful and rewarding life, you have to plan for it.
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6. THE PLANNING PROCESS Step 1: Set a goal Step 2: Acquire knowledge
A goal, which is usually longer term in nature, will require planning, patience and discipline to achieve.
Step 2: Acquire knowledge
Step 3: Compare Alternatives
Step 4: Choose a Strategy
Step 5: Make a Commitment
Step 6: Keep Flexible
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7. AN EXAMPLE OF PLANNING Step 1: Set a goal Step 2: Acquire knowledge
Step 3: Compare Alternatives
Step 4: Choose a Strategy
Step 5: Make a Commitment
Step 6: Keep Flexible
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8. PLANNING FOR YOUR LIFE
A master plan is needed for all the interrelated phases of our lives. These phases include:
Career
Self
Lifestyle
Relationships
Finances
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9. PLANNING AND BEING IMPULSIVE
A balance between planning and being impulsive is important.
In the short run, planning involves sacrifice, but in the long run, it gives you more options.
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10. DREAMS AND PLANS
Dreams provide the raw material to translate wishes into long term goals.
Planning is required to achieve long term goals.
Dream
Plan
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11. DIRECTION FOR YOUR LIFE
Dreams provide pathways to other opportunities.
Planning involves translating your goals and dreams into step-by-step strategies.
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12. Lesson 1.2 Develop a Career Plan
Goals
Describe how to choose a career field.
Explain how to obtain the education you need.
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13. CHOOSE A CAREER FIELD
You should select a career that offers good opportunities, pays well, and is suited to your interests and abilities.
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15. JOB FACTS
Fact 1
The salary gap between low-skill and high-skill jobs is growing wider.
Fact 2
Education pays.
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17. Fact 3
Many of the fastest growing jobs are in technical fields that require a year or two of training beyond high school.
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18. Between 2000-2010, these will be the fastest growing occupations:
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19. Demand for skilled and technical workers has grown.
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20. Fact 4 Fact 5 Jobs are less stable.
Workers typically change jobs six or more times.
Fact 5
An entrepreneurial, self-directed approach to careers is important.
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21. A CAREER DILEMMA
A balance should be struck between a career that you feel passionate about and a career that will provide the income necessary to support your preferred lifestyle.
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22. PART-TIME JOBS
Part-time jobs during the school year may interfere with academic success.
It is wiser to save income from part-time jobs for future educational needs than it is to spend it for immediate gratification.
In the long term, it is more valuable to gain experience in a field that matches your long term career goals than it is to earn quick cash at a retail or food service job.
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23. PLANNING FOR COLLEGE AND COLLEGE EXPENSES
Grants and Scholarships
Educational Loans
Work Aid
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24. COLLEGE COST AND FINANCIAL INFORMATION
INFORMATIONAL VIDEO
WEB SITES
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25. Goals Discuss how to avoid pressure from advertising messages.
Lesson 1.3 Make a Budget
Goals
Discuss how to avoid pressure from advertising messages.
Prepare and use a budget.
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26. AVOID THE EARN AND SPEND TREADMILL
The average American is failing to manage his or her money prudently.
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27. ADVERTISING MESSAGES
It takes strength of character and fiscal discipline to refrain from spending money on highly advertised products.
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28. TRACK INCOME AND EXPENSES
Fixed expenses
amounts you have committed to spend
Flexible expenses
amounts you can choose to spend or not to spend
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29. CREATE YOUR BUDGET WHAT A BUDGET SHOWS YOU Budget
A plan for dividing your income into spending and saving options
WHAT A BUDGET SHOWS YOU
A budget is a tool for analyzing your income versus your spending.
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31. BUDGET SAVINGS AND INVESTING
Budgeting is the key to better money management and making your money go farther.
MAINTAIN YOUR BUDGET
Good record keeping is essential to managing a budget.
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32. Lesson 1.4 Manage Your Money
Goals
Describe the use of credit and credit cards.
Explain self-provider skills.
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33. WISE USE OF CREDIT
Limit the use of your credit card to these circumstances:
major purchases
an unanticipated emergency or a life-enriching opportunity
purchases where a retailer is offering an interest rate that is lower than the rate you are earning on your savings or investments
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34. USE OF CREDIT CARDS
Be prudent when using your credit card.
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35. DOING WITHOUT
A self-disciplined approach to buying items or foregoing purchases will help you achieve long term financial goals.
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36. INTELLIGENT BUYING 1. Plan purchases and avoid impulse buying.
2. Consult product information sources.
3. Comparison shop
4. Creative purchasing
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37. SELF-PROVIDING self-providing
providing in a direct hands-on way for your needs and the needs of your family
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38. HOME REPAIR AND REMODELING
Home maintenance skills are invaluable.
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39. OTHER FORMS OF SELF-PROVIDING
All skills that enable you to fix what you own or prepare something from scratch will help you make wise use of your money.
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40. SUMMARY 1.1 THE IMPORTANCE OF PLANNING 1.2 DEVELOP A CAREER PLAN
1.3 MAKE A BUDGET
1.4 MANAGE YOUR MONEY
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41. PERFORMANCE INDICATORS EVALUATED
Explain risk factors associated with different investments.
Define the importance of making wise investment choices for future goals.
Explain a strategy to compare and contrast investment opportunities.
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42. Estimate future expenses based upon trends from the past five years.
Describe the relationship between changing economic conditions and investment choices.
Estimate future expenses based upon trends from the past five years.
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43. THINK CRITICALLY
Why is the investment risk an important issue in this case?
Which investment considered by the family has the greatest liquidity?
How can the family estimate the cost of college when their children will be ready to enroll?
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44. Why are investments in something other than a savings account attractive to consumers?
If the oldest child starts college in ten years, what will it cost per year according to the trends from the past five years?
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