1. Financial Literacy For today: What is important to know?
What do you want to know?
Evaluating financial health
Developing financial goals
Creating a personal balance sheet

2. Let’s get started . . . Why study the topic of personal finance?
What do you need to know?
Like to know?

3. Evaluate your financial health
Where does your
money come from and
where it does it go?
Do you spend wisely?
Do you plan for future financial goals?
How do you rate now?

4. Goals What is a goal? Why set goals?
How is goal setting important to financial planning?
Have you set any financial goals?

5. Goals Short Term Financial Goals
Less than a year
Examples:
Intermediate/Mid-Range Financial Goals
Up to 5 years
LongTerm Financial Goals
5 + years

6. S M A R T Goals S Specific M Measureable A Achievable R Realistic
T Time Frame

7. Are these well written goals?
To have money in the bank.
To set aside $15,000 by June for a new car.
To save $300 for a trip to California by
September 2013.

8. Goals Specific Measureable Achieveable Realistic Time Frame
SMART Goals
Specific
Measureable
Achieveable
Realistic
Time Frame
For homework: Create 6 Financial Goals

9. Goals Short Term Financial Goals
__________________________
Intermediate/Mid-Range Financial Goals
LongTerm Financial Goals

10. Personal Balance Sheet
A snapshot of your financial status
Displays your net worth
Assets
Liabilities
Net worth

11. Personal Balance Sheet
Assets
What you own
Liquid
Investment
Tangible

12. Personal Balance Sheet
Liabilities
What you owe
Mortgage
Loans
School
Auto
Personal
Credit cards

13. Personal Balance Sheet
Net Worth
What you are actually worth
Assets - Liabilities = Net Worth

14. Assignment Prepare a personal balance sheet Due tomorrow at the
beginning of class