1. Daily Information 4/9 Objectives: Warm Up: Agenda:
Prepare a meal plan and determine if you were able to stay within budget.
Explain the importance of budgeting.
Warm Up:
Make sure work turned in last class has been updated in infinite campus!
Record all expenditures in the month of April on the “New” student budget.
Agenda:
Warm Up
Grocery budget
Ch4 Study Guide
Bottom Line

2. Daily Information 4/8 Objectives: Warm Up: Agenda:
Prepare a meal plan and determine if you were able to stay within budget.
Warm Up:
Check your grade in infinite campus to make sure work submitted yesterday has been updated.
Agenda:
Warm Up
Grocery budget
Resume
Bottom Line

3. Daily Information 4/1 Objectives: Agenda: Warm Up:
Implement the process of creating a spending plan.
Discover ways to save money when purchasing groceries.
Agenda:
Warm Up
Scenario P.P.
Scenario activities
Grocery budget activity
Paycheck project
Bottom Line
Warm Up:
How much money do you want to have by the time you are 30?
What will you use it for?

4. April is Financial Literacy Month!!
Daily Information 4/4
Objectives:
Discover ways to save money when purchasing groceries.
Agenda:
Warm Up
Financial Literacy Fact Friday!!
Grocery budget activity
Warm Up:
Who is one of your “money role models” and why?
April is Financial Literacy Month!!
Every Friday in Financial Literacy Month will be a Fact Friday!

5. Daily Information 4/7 Objectives: Agenda: Warm Up:
Discover ways to save money when purchasing groceries.
Agenda:
Warm Up
Grocery budget activity
BottomLine
Warm Up:
Check your grade in infinite campus. If you have concerns regarding your grade, please write them down in your warm-up book.

6. Daily Information 4/7 Objectives: Agenda: Warm Up:
Discover ways to save money when purchasing groceries.
Agenda:
Warm Up
The Carson Family
Grocery budget activity
Bottom Line
Warm Up:
Check your grade in infinite campus. If you have concerns regarding your grade, please write them down in your warm-up book.

7. The Carson Family Goals Changes
Pay the rest of tuition, no more student loan ($200)
Enroll in life insurance ($75)
Pay off credit card ($___)
Changes
Dining out: $40
Cell Phone: $50
Cigarettes: $0
Credit Card: (More than $30)

8. The Carson Family Calculate your total Income = expenses
What you will do with the remaining balance?
How much towards the credit card
How much towards their savings

9. Congratulations! You have been hired as a financial advisor for John and Tia Brown
Financial Advisor Information
Your Job
Developed a Statement of Financial Position and Income and Expense Statement
Identified the following goals:
Develop a spending plan for the Brown family
Increase the amount of their emergency savings fund
Pay more on their monthly car loan payment to pay the loan off faster
Spend less money on clothing every month
Spend less money dining out at restaurants

10. The Brown Family Tracked Income and Expenses for January
Financial Advisor Information
Your Job
Kept all receipts for the month of January to create an Income and Expense Statement
Review John and Tia’s January Income and Expense Statement for a realistic view of their income and expenses

11. Personalize Your Spending Plan
How will you develop a spending plan?
Step 1 - Track Current Income and Expense
Step 5 - Evaluate and Make Adjustments
Step 4 - Implement and Control
Step 2 - Personalize Your Spending Plan
Step 3 - Allocate Money to Each Category

12. The Brown Family Personalize The Spending Plan
Income and Expense Statement for:
John and Tia Brown
Time Period:
January
Amount
Planned Amount for February
Income
Earned Income
Wages or salary before deductions
Total Income
$5,500.00 $
Expenses
Deductions Often Taken from Paychecks
*Contribution to a retirement program (401k, 403b)
385.00
*Federal income tax
1,100.00
*Social Security
317.13
*Medicare
74.17
Saving and Investing (Pay Yourself First)
Contribution to savings and investments
250.00
Insurance Premiums
*Health insurance, Medicaid and Medicare
*Renters or homeowners insurance
15.00
*Automobile insurance
70.00
Housing Costs
*Housing payment (rent or mortgage)
800.00
*Utilities (gas, electricity, water, garbage)
100.00
Transportation Costs
*Automobile payment
200.00
*Fuel (gasoline/diesel)
*Automobile repairs and maintenance
50.00
*Public transportation fees
*Automobile license and registration (yearly fee)
20.00
Food Costs
Food at the grocery store
300.00
Meals at restaurants
350.00
Snacks away from home (coffees, treats)
30.00
Non-food kitchen supplies (plastic wrap, dish soap)
Communication and Computers
*Cell phone
110.00
*Internet
60.00
*Cable/satellite television
40.00
Medical Costs Not Covered by Insurance
*Medical care
Clothing and Personal Care
Clothing
Personal care (shampoo, haircuts, cosmetics, laundry, etc.)
150.00
Entertainment
Movies, books, and other entertainment
Total Expenses
$5,401.30
Net Gain or Net Loss (Income less Expenses)
$98.70
Financial Advisor Information
Your Job
Requested a spending plan for the month of February
Requested the same document and categories as the Income and Expense Statement
Find the column on the Income and Expense Statement where the Spending plan will be created

13. The Brown Family Allocate Money to Each Category
Financial Advisor Information
Indicated a * next to expenses that are either contractual or they are unwilling to decrease
Remember goals
Consider trade-offs
Must have a net gain or a zero balance

14. The Brown Family Allocate Money to Each Category
Your Job
Develop a spending plan for the family
Explain each change made

15. Net Gain or Net Loss? Net Gain? Net Loss?
Income
Expenses
Net Gain or Net Loss
Net Gain?
Net Loss?
Add more money to savings or another expense
Increase income
Decrease expenses
Both

16. The Brown Family Evaluate and Make Adjustments
Financial Advisor Information
Your Job
How could creating a spending plan help you now and in the future?
John and Tia realized that if they dine out at restaurants less often they will need to increase their monthly grocery expense
Increase their grocery budget by $20.00
How has developing a spending plan helped the Brown family?

17. The Brown Family You may begin the scenario within your group
When you are finished, start working on the second scenario for the Carson family.