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Money Management A system of planning for spending based on expected income
Budget Basic tool used for money management
Reasons for Financial Planning Helps you get what you want Prevents you from spending beyond means Helps maintain a harmonious home Helps keep track of expenditures Puts you in control & helps you stay there
Cash Flow Typical monthly income and outgo
Designing a Financial Plan Estimate income Record expenditures Calculate fixed expenses Create an emergency fund Calculate flexible expenses Compare income & expenses
Net Worth Relationship between assets & liabilities
Ways to stick to a budget Get rent out of way Stay away from the ATM Leave money at home Record credit card purchases Save automatically Keep money in large coins or bills Save certain denominations
Ways to Stick to a Budget Continued : Sacrifice something Keep checkbook balanced Set goals Consider tradeoffs Take your lunch
Budgeting and Record Keeping. Financial Planning ► Financial Plan- An _____ program for spending, saving, and investing the money you earn.
Chapter 12 Budgeting.
10/20/2015 8:20 AM 1 Budget your spending Know your monthly spending needs and habits Keep track of what comes in and out Divide your spending into fixed.
Mrs. Wilson Business Essentials. This lesson provides information about money management basics and the reports used to measure financial progress.
Unit 2: Measuring Financial Health. Learning Objectives O Define asset, liability, and net worth. O Calculate the level of net worth using a balance sheet.
PERSONAL FINANCIAL MANAGEMENT
Money Management Skills
Chapter 2 Money Management Skills Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.
Money Management Strategy
Chapter A plan for saving and spending. Allows you to meet your personal goals with a system of wise spending.
2 Money Management Skills
Money Management Strategies
Chapter 3 Section 3.1 and 3.2. Money Management Spend your money on clothes or save it? Shopping around for better deal on mp3 player?
Ch. 19- Balancing Act. Priorities- things most important Maintaining balance – Take charge of time – How do you use your time? Learning: – Get more out.
Mastering Money Money is anything you exchange for goods or services. Cash is the money made out of paper (dollar bills) and metal (coins). Electronic.
© South-Western Educational Publishing Chapter 8 Budgets and Financial Records Budgeting and Record Keeping Filing Systems Budget: Keeping track of income.
Topic 5: Cash Flow Management
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