Four Myths: z“ THINGS bring happiness.” z“Your possessions define who you are.” z“The more you have, the more you should spend.” z“Spending is a COMPETITION.”

Slides:

Advertisements

Similar presentations

Chapter 9 Buying a Home.

Advertisements

Welcome to Financial Freedom “ There is probably no area where we have a greater opportunity to make a mess of our lives than in this area of our finances.

Teens 2 lesson eight cars and loans. the costs of owning and operating a car Ownership (fixed) costs: Purchase price Sales tax Registration fee, title,

How to Make the Most of Your Tax Refund! Robin Seemann-AFC, Director Economics, Education & Empowerment Program.

Unit Home Ownership Learning Objectives: Understand the three requirements to buy a home How to calculate debt-to-income ratios Realize how home.

Lesson 8-2 Long-Term Debt Repayment -Discuss long-term debt options for the purchase of high-priced items -Explain the purpose of a debt repayment plan.

Money Management 28.2.

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

Buying a Car: The Need to Know Doug Martin, Taylor Meyer, and Matt Spanovich March 6, 2012.

Creating a budget is important to ensure your financial security, monitor your income and expenses, and a way to help you save money. In order for your.

Marriage and Family Life Unit 6: Making Everyday Living Decisions.

BUYING VS RENTING. BUYING Homeowner Advantages  Freedom of use  Pride of ownership  Greater Privacy  Income tax benefits  Opportunity to build credit.

Lesson 16: Using Credit.

 A budget is a written record of the money that flows in and out of your household or pocket every month.

BUDGET & ECONOMICS Surviving or Thriving It’s Up to You!

Financial Management Project Your name here. I work at: ______________________ I am a _____________________ at ________________________ and make $ _________.

By Sandy Hopkin, Chad Hunt and Lily Ritvaxay FIN 1050 Home Buying Case Study: Michelle.

Budgetwi$e Love your Money Jayne McBurney, MS Family & Consumer Sciences Agent NC Highway 210 Smithfield

Presented by Jeanne Nguyen.  Setting Priorities  Making a Budget ◦ How to Start a Budget ◦ How to monitor  Qualified Funds (401(k), Roth, IRA, and.

Renting vs. Owning Family Economics and Financial Education Take Charge of your Finances.

HOME EQUITY CONVERSION MORTGAGES Bobby Donaldson

Engineering Economy Why is Engineering Economy important? Practical everyday questions –Should you finance your car or pay cash? Finance for $6995 –vs-

H233 Consumer Management Budget Expenses. Recommended Monthly Spending.

Unit 4 Creating a Budget. Objective(s) What is a budget? Activity – Pair up with someone in the room and sit with them and prepare to begin the budgeting.

Securing Your Financial Future Cash Management Presented by Teresa Muench NEA Member Benefits April 4, 2015.

MANAGING YOUR PERSONAL FINANCES- Unit 7 – Creating a Budget.

Creating and Maintaining a Budget Consumer Ed.  You'd never set out on a cross-country road trip without consulting a map.  Likewise, you can't expect.

Which one calculates Net Worth?

BYOB Build Your Own Budget. Budgeting What is a budget? ◦ Make the most of your financial resources ◦ Determine monthly allowance ◦ Plan how to spend.

Budgeting Creating a Plan for Your Spending. $50.00 What would you do if someone gave you $50? Would you spend it on something, would you save it? What.

 Security deposit – a refundable amount a renter pays in advance to protect the owner against damage or nonpayment.  Mortgage – a loan to purchase real.

Auto Insurance Financial Responsibility Law Do you have to have insurance? Why? What kind? 2 Major Types of Coverage Property (Comprehensive and Collision)

Setting Financial Goals

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

Finding a Job Budgeting & Saving Finding an ApartmentBuying a Car Buying a Home Education & Advance ment

 College or University to attend:  The Ohio State  * Tuition  19,926 (1 year)  79,704(4 years)  * Major  Medical terminology or one of the life.

Created by: Mr. Bock. Salary I choose to base my salary from a career as a teacher that makes $51,250 annually This equates to $788/week or $3,152.00/month.

Only 40 percent of Americans use a budget to plan their spending… The rest routinely spend more than they can afford.

Personal Finance Bishop Kearney High School Dr. Steven M. Hays.

Financially Speaking.. A Student’s Guide to Understanding what Financial Institutions are Talking About.

Career Development1 Personal Budget phs. Career Development2 Salary  Paycheck –Deductions: Taxes Child Support Social Security Retirement Insurance.

Using Credit SSEPF4.a, SSEPF4.b, SSEPF4.c. Loans and Credit Cards: Buy Now, Pay Later The U.S. economy runs on credit. Credit – The ability to obtain.

BUDGETING, SCHMUDGETING…WHY DO I NEED A SPENDING PLAN? By Julie Chapman for.

What is a budget?.

CAREER BUDGET NAME 2014 – 2015 CAREER?. CAREER Career Qualifications: Entry Level Pay: Education Loan Payment: Location: Employer: Insert Career Image.

Topics Headline 5 Tips to break spending leaks om/od/savingmoney/qt/sp endingleaks.htm Main ArticleBig Picture Multimedia.

Citizens and The Economy. How do we contribute to the economic common good?? Be productive!!! What does this mean???

Budgeting How to manage your money. Guessing Game Question 1 How much a much do you think gas for one car costs each month?

Why create a budget?  A budget helps you understand where your money goes.  It helps you live within your means and meet your goals.  It helps you find.

Renting vs. Owning G1 © Family Economics & Financial Education – Revised March 2009 – Housing Unit – Renting vs. Owning a Home Funded by a grant.

Buying a Car. Objectives  Students will:  be able to find a car that fits your needs.  be able to decide whether a new or used car is right for you.

Budgeting Techniques Key Terms --Budget --Fixed Expenses --Allowance --Budget Variance.

YOUR FINANCIAL WELLNESS A great way to help you have a better relationship with your money.

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

Earning an Income Review. A purposeful course of action or purpose in life that generally provides income.

The Family Your family is a mom, dad, and two kids ages between 5 and 11. Only one parent works. Your spouse can have a part time job but you must write.

The Art of budgeting.  What is the dumbest thing I have done with my money and what did I learn from it?

Budgeting for Your Future… Ms. Smith Personal Finance.

Chapter 3 Making a Budget. As you become more independent a is important for happiness and success As you become more independent a is important for happiness.

Housing Deciding between Renting and Owning a House.

Standard 1 VOCABULARY.  Career – a purposeful course of action or purpose in life that generally provides income  Earned Income –money received for.

CHAPTER 8 Marina Makhover. 2 Chapter Objectives To determine the costs related to owning or renting your own house or apartment. To design monthly budgets.

Loans. Loan An amount of money borrowed and repaid with interest Interest – Money paid for the right to borrow money  Fixed rate – rate that stays the.

Making a Budget 7 th & 9 th Grade FACS. How much money do you spend each week?

Lesson 5A: Making a Budget– It Is All About Spending!

Would you survive financially in the real world?

Quiz on Balancing a Checkbook and writing a check

Almost everything is better when you plan

Budgeting Creating a Personal Budget

More Budget Practice Financial Literacy.

Presentation transcript:

Four Myths: z“ THINGS bring happiness.” z“Your possessions define who you are.” z“The more you have, the more you should spend.” z“Spending is a COMPETITION.”

z Current Behavior: Nothing z Total “Scale Back” Savings: $30 (thermostat) + $25 (share cell plan) + $20 (dial up internet) + $25 (limited basic cable) = $100/month!  Total “Spartan” Savings= $30 (thermostat) + $50 (no cell phone) + $20 (dial up internet) + $40 (no cable TV)= $140/month! Finding $100

The Prudent Consumer Is: One who enjoys the fruits of their labor yet guards against materialism.

Three Biblical Financial Principles: zBeware of idols. zGuard against GREED. zBe CONTENT.

When we practice MODERATION and learn contentment, we become free to be a blessing to others.

Key Question: Are you willing to “drive your stake” lifestyle-wise?

Driving Your Stake Means: zThere will be a point in time when you declare, “Enough is enough.” zYou distinguish between your TRUE needs and what the culture says you need.

Tips for Mortgage/Taxes/Rent: zConsider the issue of renting vs. owning. zThink PREPAYMENT of mortgage. zBeware of basing a mortgage on TWO INCOMES. zExercise caution toward equity loans. zConsider an extended household.

Maintenance and Repairs: Become a Mr. or Ms. “Fix-it”

Utilities: zControl the thermostat. zUse phones wisely. zEvaluate options for Internet and cable services.

Spending Plan Application Individual Activity:

Transportation Quiz zWhat is the least expensive car you can own?

Transportation Quiz zWhat is the least expensive car you can own? zWhen is it economically wise to buy a new (never-owned) car?

Transportation Quiz zWhat is the least expensive car you can own? zWhen is it economically wise to buy a new (never-owned) car? zWhat are the economic advantages to leasing?

Transportation Quiz zWhat is the least expensive car you can own? zWhen is it economically wise to buy a new (never-owned) car? zWhat are the economic advantages to leasing? zWhat is the proper mileage at which it is best to unload the old car?

Statistics: zAverage Reliability yLife = 10.2 years yMileage = 120,000 zAverage Trade-in yTime = 4 years yMileage = 50,000

Pay Cash for Your Next Car!.

Auto Insurance Tips: zChoose the highest deductible you can afford. zShop for it. zCOMBINE policies. zLook for other discounts. zConsider eliminating COLLISION coverage on an older car.

Life Insurance zConsider renewable term. zConsider whether insurance is necessary.

Household/Personal zClothing zGambling

Household/ Personal and Entertainment Ideas and Spending Plan Application Individual Activity: