1. Money Matters workshop sponsored by the Kansas City Public Library
Budgeting
Money Matters workshop sponsored by the Kansas City Public Library

2. Start Somewhere
It’s impossible to map out a route to your destination if you don’t know where you’re starting from. - Suze Orman
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3. What you will learn Components of a budget Snapshot of your finances
Everyday savings
Setting financial goals
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4. Taking Control What is a budget? Components of a budget Income
Expenses
Setting priorities
Making changes
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5. Income Income is the money that comes into your household
Different types of income
Regular
Irregular
Seasonal
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6. Expenses
Fixed expenses- consistent costs that do not fluctuate in amount and date
Flexible expenses- constantly changing costs
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7. Expenses Needs: are those things you must have to live
Wants: are goods and services that you desire to have but are not essential to daily living
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8. Test Your Knowledge : Needs vs. Wants
Eating out 3 days a week
Rent
Child care
Movies/DVD
Internet
Tablet
Football tickets
Gas
Lights
Transportation
Shopping
Magazines
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9. Tracking Being accountable for your spending habits
Reviewing spending trends
Deciding if and where changes can be made
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10. Not Enough Expenses outweigh your earnings Increase your income
Reduce your expenses
Prioritize your bills
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11. Savings Tips Make a shopping list before you go to the store
Purchase store brand items
Clip coupons
Brew your own coffee
Cut down on your cable bill
Save your loose change
Never purchase on impulse
Limit credit card purchases
Pay your bills on time
Shop for gas
Weatherproof your home
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12. Extra Cash Savings is money set aside to use in the future
Pay off other debts
Invest in other opportunities
Keep an emergency fund
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13. Net Worth Net worth: Total asset minus total liabilities
Examine your personal financial health
Positive net worth is the goal
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14. Goal Setting
Short Term: is a goal that can be achieved in a short time frame
Long Term: is a goal that can be achieved in the future
Reevaluating your goals
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15. SMART Goals S- Specific: What do I want to accomplish?
M- Measurable: How will I measure my progress?
A- Achievable: How can the goal be accomplished?
R- Relevant: Is this the right time?
T- Time-Bound: How long will it take to accomplish this goal?
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16. Practice Makes Perfect
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17. Amount or Rate of Return Needed to Reach Goal
My Goal
Goal
Time frame
On hand
Needed
Amount or Rate of Return Needed to Reach Goal
Account/Investment
Down Payment for my new car
12 months
$0.00
1500
$ 1500 ( $125 a month)
Savings account at the credit union
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18. Stick It Out: Five R’s of Budgeting
Remember: Start small and continue to make changes
Realistic: Make your budget and financial goals realistic
Repetition: It takes a few months to perfect your budget
Rebound: Get back on track if you make an error
Reminder: Keep in mind why you have a budget
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19. Review Account for your monthly income Track your expenses
Identify items that can be purged
Continue paying for your needs
Set financial goals
Reevaluate
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20. Resources FDIC Consumer Finance Protection Bureau FINRA
Financial curriculum based on building financial skills
Consumer Finance Protection Bureau
Submit complaints and financial tools
FINRA
Information on debt control, financial basics, and financial tools
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21. Savings Tips Everyday Savings Tips: Bank of America America Saves
America Saves
About Money
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22. H&R Block Business & Career Center
At the Kansas City Public Library
3rd floor of Central Library, 14 W. 10th St.
Books on personal finance, job hunting, small business development
Personal finance: Budgeting, credit, investing, real estate, identity theft
Personal finance website (Sign up for more workshops on this website)
Computers with software for resume and business plan writing
Resources for nonprofit development

23. Financial Opportunity Centers
Women’s Employment Network
920 Main St, Suite 100
Kansas City, MO 64105 P:
Guadalupe Centers Inc.
2600 Belleview
Kansas City, MO  64108 P:
Prosperity Center
5151 Troost Avenue, Suite 100
Kansas City, MO 64110 P:
Community Services League
404 N Noland Rd
Independence, MO 64050 P:
Ask Me: How I Can Help?
One-on-one counseling
Financial Coaching
Budgeting
Setting future financial plans
Tools for rebuilding credit
Accountability