1. Sept 4th 2018 Today’s resources A computer Letter to my son
Do the 5 minute quick write while I take roll
What are two sentences from the article that are impactful to you and why were they impactful?
What are two pieces of advice the author gives about being careful? Do you agree or disagree?
Unit 1 financial planning notes guide
Set up your RWC accts

2. Horizonte Financial Literacy Course
FINANCIAL PLANNING
Horizonte Financial Literacy Course

3. What is Financial Planning?
More than budgeting.
More than investing.
Financial planning is a thinking process that helps achieve goals.

4. "If you don't know where you are going, ANY ROAD will take you there."
Cheshire Cat, Alice In Wonderland

5. Financial Planning
A blueprint or plan for managing all components of a person’s money.
Arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals.

6. What are the Components of a Financial Plan?
Goals
Net Worth Statement
Budget
Insurance Plan
Savings Plan
Investment Plan

7. Benefits of Having a Financial Plan?
You have more money and financial security.
You know where to use money to achieve your goals.
You have less chance of going into debt you cannot handle.

8. How do I make a Financial Plan?
Determine your current financial situation.
Make a list of items that relate to your finances:
Savings/Investments
Monthly Income (Job Earnings, Allowance, Gifts, Interest)
Monthly Expenses
Debts

9. How do I make a Financial Plan?
2. Develop your financial goals.
Consider your attitude toward money.
Ask yourself the following:
How do I determine if it is more important to spend money now, or save it for the future?
How do your personal values affect your financial decisions?

10. How do I make a Financial Plan?
3. Identify your options.
Expand the current situation.
Change the current situation.
Start something new.
Continue the same course of action.

11. How do I make a Financial Plan?
4. Evaluate your alternatives.
Consider the risks and consequences of each decision you make.
Be aware of all sources of financial information.
Evaluate consequences of choices, both good and bad.
Understand risks involved with choices.

12. How do I make a Financial Plan?
5. Create and use your financial plan of action.
Just DO it!

13. How do I make a Financial Plan?
6. Review and revise your plan.
As we get older and our circumstances, our finances, needs, and wants will change, therefore, our financial plan must be flexible as well.

14. Stop Please open your computer Log in to your acct
Open a google browser
Create a RWC acct
2nd period: NPA0WB90A3
3rd period: 8AQQ66J8GR
Rose Park: XLJXRTVK0D

15. House Keeping 9-5-2018 My 2 cents Must have’s Working Papers should
What are the six steps of financial planning?
Write the six steps in your blue book and how you plan to use them in the simulation
Must have’s
75 question pre-test
Vocab pre-test
Rwc account
Rwc.school
2nd period: NPA0WB90A3
3rd period: 8AQQ66J8GR
Working Papers should
Unit 1 overview guide
Financial Planning notes (on my website mrjmorse.weebly.com)
Time for your vision boards (make up for sub : ( )
Explore RWC options.
Write questions you want answered

16. Straw Boat Challenge
Using 10 straws and 2 feet of masking tape can you make a boat that can hold 25 pennies without sinking?
5 minute plan/discuss
3 minutes to build/execute
3 to 5 minutes to test
Rework your idea
Test a second time
Rwc.school
Rose park code: XLJXRTVK0D

17. Student Learning Objectives for your calendars
Interpret the role of goal setting as an integral part of financial planning
Explain the required elements for a well written goal
Construct a well-written goal

18. My 2 cents reflection Which attempt was best? Why?
What did you adjust?
Did the first trial go better or the second?

19. Harvard study
The answer is a simple question: “Have you set clear, written goals for your future and made plans to accomplish them?” In 1979, interviewers asked new graduates from the Harvard’s MBA Program and found that :
84% had no specific goals at all
13% had goals but they were not committed to paper
3% had clear, written goals and plans to accomplish them

20. Fast Forward Ten Years
In 1989, the interviewers again interviewed the graduates of that class.  You can guess the results:
The 13% of the class who had goals were earning, on average, twice as much as the 84 percent who had no goals at all.
Even more staggering – the three percent who had clear, written goals were earning, on average, ten times as much as the other 97 percent put together.

21. What is a Goal?
A written statement of something a person wants or needs to accomplish.
Examples
Graduate from high school
Earn a college degree
Buy a car
Get a job
Lose 15 pounds

22. Time-Bound Goals Short Term Goals Present to 6 months Long Term Goals
6 months and longer

23. 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

24. Goal – the end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future
Physical goals – specific objectives to be accomplished through understanding your body
Emotional goals - enable individuals to prepare for disappointment and satisfaction

25. Goals Short-term goals – specified as less than one year
I plan to raise my English grade from a C+ to a B by the end of this academic year by asking my older brother to peer review my research paper prior to turning it in.
Underline events in your letter that can be achieved with a short-term goal.
Long-term goals – specified as more than one year
By the end of the next academic year I would like to purchase my first car by saving $50 per month from my part time job.
Put parentheses around events that can be achieved with a long-term goal.
Delayed Gratification – Sacrificing what you want now so you can get what you really want at a later date.

26. S.M.A.R.T. Goals
S = Specific - State exactly what you hope to accomplish.
M = Measurable – Write exactly what you will do.
A = Attainable – Determine what needs to be done to reach your goal.
R = Realistic – Ask yourself, “Is it feasible?”
T = Time-Bound – When will you have accomplished (or strived to reach) your goal?

27. RWC Classroom
Please get a computer and check your account make sure your bills are paid and make sure your account is in order.

28. Smart goal jigsaw
Using the resources at your table please cut out the puzzle pieces and complete the task as a table raise your hand for conformation of completed tasks.
15 points for 1st place
14 for 2nd
Ect….

29. “If you don’t have time to write down your goals, where are you going to find the time to accomplish them?”

30. Roll Out My Future
Dice

31. Vision Board SMART Goals
Please use the next ten minutes to think about your vision board and start writing smart goals for each image and category.
Specific. What will the goal accomplish? How and why will it be accomplished?
Measurable. How will you measure whether or not the goal has been reached (list at least two indicators)?
Achievable. Is it possible? Have others done it successfully? Do you have the necessary knowledge, skills, abilities, and resources to accomplish the goal? Will meeting the goal challenge you without defeating you?
Results-focused. What is the reason, purpose, or benefit of accomplishing the goal? What is the result (not activities leading up to the result) of the goal?
Time-bound. What is the established completion date and does that completion date create a practical sense of urgency?

32. Goal out my future writing assignment

33. 9-10-2018 House keeping Explain the goal rework
Check your RWC acct and verify you have been paid
Hand out blue books
Hand out the 2 goal setting papers
Collect the goal out my future letter
Remind students of vision boards to be collected and presented on September 13th (10, 20, 30, 40)
(physical, emotional, social, financial, Intellectual)
Explain the goal rework
10 minutes (working in tables or pairs to complete the goal rework)
15 minutes (complete the goal setting handout front and back)

34. Vision The desired outcome of your values based on needs and wants.
The foundation of you goals.
Can’t buy me love!

35. Factors that Influence Decisions
Values
Peers
Habits
Consequences
Family
Age
Feelings (love, anger, rejection)
Risks
Society

36. What is a Value?
Value - a fundamental belief or practice about what is desirable, worthwhile, and important to an individual
What do you value?

37. Values strongly influence our spending habits.
We don’t usually spend our money on things we do not feel are important. Typically, the more important something is, the more we are willing to spend on it.

38. Values
The beliefs and practices in your life that are very important to you.
Family
Friends
Work
Honesty
Self Reliance
Independence
Religion

39. NEEDS vs WANTS NEEDS Essentials…the basics of life. Food Clothing
Shelter

40. NEEDS vs WANTS
WANTS
Simply increase the quality of living.

41. What are your needs and wants?
Perception of needs versus wants is dependent on personal values
Needs
Wants
Move towards the arrow indicating whether you feel each item is a need or a want

42. What are your needs and wants?
Name brand clothing
A daily soda or coffee beverage
A personal automobile
Downloading music
A refrigerator
At least three meals per day
Shoes
Watching or participating in athletic activities
A computer
A warm and safe place to live
A television
Wants
Needs

43. Why do needs and wants matter?
Will help you decide what to spend and not spend your money on
Opportunity cost – the value of the next best alternative that must be forgone as a result of a decision
Use trade-offs and opportunity costs to help you make these decisions
Trade-off - giving up one thing for another
Is the trade-off to your decision a need or a want?
What is the value (opportunity cost) of that trade-off to you?

44. Decision Making
The process of gathering and analyzing information in order to make a decision.

45. Steps for Decision Making
Set Goals
Analyze Information
Create a Plan
Implement the Plan
Monitor and Modify the Plan

46. P.A.C.E.D Decision Making Model
The five steps to good decision making include:
P = State the PROBLEM.
A = List the ALTERNATIVES.
C = Identify the CRITERIA.
E = EVALUATE the options, based on the criteria.
D = Make a DECISION.

47. Problem
PROBLEM: What decision do you need to make? Are you trying to decide which pair of jeans to buy? Which movie to see? Where to go for dinner with friends? Where to attend college? To solve a problem, start by writing down what decision must be made.

48. ALTERNATIVES
ALTERNATIVES: Each of the questions above has several possible answers, which means you have a lot of options from which to choose. Make a list of all of the possible choices that you have.

49. CRITERIA
CRITERIA: What is important to you? What are you using to measure your options? For example, suppose your problem is deciding where to have dinner and you are trying to choose which place serves the best pizza. Some of the criteria might include price, location, quality of food, buffet or no buffet, and so forth.

50. EVALUATE
EVALUATE: How well does each option meet your criteria? If your favorite pizza place is The House of Pizza, it might not be the best choice if it takes an hour to get there—especially if you only have an hour to eat before the movie starts.

51. DECIDE
DECIDE: Based on your evaluation of the options you have listed, what is the best choice for you? It may not be your favorite place, but it may be the best solution to your problem at this time.

52. Opportunity Cost Opportunity Costs
If you spend your money now then you won't have money later for the things you truly value.
Let’s say you have been doing chores all week to earn one dollar.
At the end of the week you go to the toy store only to find that the toy you really want costs just under three dollars.
"No problem" you say to yourself, "I'll do chores for two more weeks and have my three dollars."
However, at the end of the second week you go back to the toy store and find that there is two dollar toy that you also like.
Now, you don't like it as much as the three dollar toy, and you still want the three dollar toy, but you also like the two dollar toy.
So, you buy the two dollar toy now. The three dollar toy is the Opportunity Cost, the cost that you gave up, "paid" in order to settle for the two dollar toy.

53. Shelbi’s decision
Students will read Shelbi’s Decision

54. Remember…
Value – A fundamental belief or practice about what is desirable, worthwhile, and important to an individual.
Need – Something necessary or required for life
Want – Something unnecessary but desired
Scarcity – Not enough for everything to be free
Goals – The end result of something a person intends to do
A person’s values and perception of needs and wants influence personal financial decisions!