1. Monthly Budget DeJohnna M. Culver Ashford University Instructional Design & Delivery Dr. Keith Pressey 23 March 2015

2. Overview Importance of Budgeting Decisions Impacting Your Budget Analyze Financial Goals How to Budget Sticking to Your Budget Additional Considerations

3. Importance of Budgeting Why do I need to budget? Money doesn’t grow on trees You only have what you earn Emergencies arise Be prepared for the future “There’s no such thing as a free lunch” unknown

4. Decisions Impacting Your Budget Vehicle purchases The home you rent or buy Number of children you have Daily spending Savings Financial Goals

5. Analyze Financial Goals When do I want to buy a house? When will I have sufficient emergency funds? When will I have sufficient retirement funds? Identify goal(s) by: How much to achieve my goal(s) How long until goal(s) achieved

6. How to Budget 1. Calculate monthly income 2. Calculate monthly bills ◦ Don’t forget savings and retirement 3. Subtract bills from income If result is negative…Re-evaluate! If result is surplus…GREAT!! Budget on paper is easy…Sticking to the budget may be hard

7. Sticking to Your Budget Takes discipline Doesn’t have to be painful Celebrate accomplishments Benefits outweigh the pains

8. Additional Considerations Credit score Number of credit cards ◦ Amount on credit cards Protecting your assets Needs vs. Wants Budget and plan - drive your financial future

9. Summary Importance of Budgeting Decisions Impacting Your Budget Analyze Financial Goals How to Budget Sticking to Your Budget Additional Considerations

10. References Horton, W. (2012). E-Learning by design (2nd ed.). San Francisco, CA: Wiley.