1. SPENDING PLAN

2. Spending Plan  A spending plan is a financial statement you can use to assist in money management  also known as a budget

3. Set Financial Goals Set financial goals. A financial goal should include the following elements- SMART  Specific  Measurable  Attainable  Realistic  Time bound

4. Cash Flow  A measure of the money you receive and the money you spend.

5. Why is a Spending Plan important?  Giving a person an understanding of where their money is going  Tracking income and expenses  Help meet financial goals  Help people live within their income and make ends meet  Reduce the need for using credit

6. Sources of Income  Wages or Salaries  Tips  Withdrawal from savings  Interest earned on savings accounts  Scholarships  Monetary gifts

7. 2 Main Components Income: money earned Expense: money spent 2 types of Expenses  Fixed- have to be paid by specific date  (Food, housing, electricity)  Flexible- have to be paid off but often not by certain date  (Food, goals, etc.)

8. Rent

9. Fixed Expense Rent

10. Wages

11. Income Wages

12. Groceries

13. Flexible Expense Groceries

14. Internet Bill

15. Fixed Expense Internet Bill

16. Tips

17. Income Tips

18. Utilities

19. Fixed Expense Utilities

20. Gifts from Family

21. Income Gifts from Family

22. Savings

23. Fixed Expense Savings

24. Car Registration

25. Fixed Expense Car Registration

26. Eating Out

27. Flexible Expense Eating Out

28. Scholarships

29. Income Scholarships

30. Hobbies

31. Flexible Expense Hobbies

32. Net Loss and Net Gain  Net Loss- have more expenses than income during that period on spending plan  Net Gain- more income than expenses

33. How much will you get paid? Depends on where you live www.salary.com