1. Assignment Sheet 1

2. © EMC Publishing, LLC Establishing Financial Habits Share Save Spend® Sharing Who might you share with?

3. © EMC Publishing, LLC Your Financial Plan Sharing Sharing is also called charitable giving, philanthropy, and altruism. Sharing connects people and gives them a sense of pride. Research an organization that meets your interests. Volunteer now.

4. © EMC Publishing, LLC Your Financial Plan Sharing Suggestions Birthdays Holidays Service-learning

5. © EMC Publishing, LLC Establishing Financial Habits Share Save Spend® Sharing Saving *Where can you put your money to save it?

6. © EMC Publishing, LLC Establishing Financial Habits Share Save Spend® Sharing Saving Spending *Needs VS Wants

7. What do you think? Discussion 1 © EMC Publishing, LLC What 3 options do we have when deciding what to do with our money? Why do people share? Who benefits from people sharing? What kinds of opportunities do you have to share in your community?

8. © EMC Publishing, LLC Establishing Financial Habits *Your Values are those things that are important to you. Your values vary from those of others and influence your financial decisions

9. What do you think? Discussion 2 © EMC Publishing, LLC What is a Value? Give some examples of what you value. What do you think most Americans your age value? How do your values affect how you spend your money?

10. © EMC Publishing, LLC Establishing Financial Habits Your Financial Plan Determine your current situation. Identify and prioritize your goals. Develop a long-term plan. Organize your records. Set up a budget. Keep it simple.

11. © EMC Publishing, LLC Establishing Financial Habits Determine your current situation by: Determining your income. Determining your expenses.

12. © EMC Publishing, LLC Establishing Financial Habits Identify and prioritize your goals. *A goal is something you are trying to achieve in a specific amount of time. Financial Goals 1. Buy new car 2. Pay off student loan 3. Move to bigger apartment 4. Buy new shoes 5. Vacation at Yellowstone 6. Eat at fine restaurant

13. © EMC Publishing, LLC Establishing Financial Habits Develop a long term plan by: Distinguishing between short-term, medium-term, and long-term goals. Adjusting your plan and goals over time. Short-Term Goals 1. Eat at fine restaurant 2. Buy new shoes 3. Move to bigger apt. Long-Term Goals 1. Buy travel trailer 2. Pay off student loan 3. Save for retirement Medium-Term Goals 1. Buy a new car 2. Finish college 3. Vacation at Yellowstone

14. © EMC Publishing, LLC Your Financial Plan Keep Records Organize your records. – Alphabetical – Numerical – Chronological Manage your money with a computer-based system.

15. © EMC Publishing, LLC Your Financial Plan Set up a budget A budget is an itemized summary of likely income and expenses for a given period. It helps you determine whether you can grab that bite to eat or should head home for a bowl of soup.

16. © EMC Publishing, LLC Your Financial Plan Keep it simple A spreadsheet, provides a concrete, organized, and easily understood breakdown of how much money you have coming in and how much you are letting go. It’s an invaluable tool to help you prioritize your spending and manage your money—no matter how much or how little you have.

17. © EMC Publishing, LLC Your Financial Plan Planning and monitoring your budget will: help you identify wasteful expenditures help you adapt quickly as your financial situation changes help you achieve your financial goals.

18. © EMC Publishing, LLC Which of the following is not one of the suggested ways to plan your finances? A.Set up a budget. B.Set goals. C.Determine your income. D.Freely spend your money. E.Prioritize your goals.

19. © EMC Publishing, LLC Which of the following is not one of the suggested ways to plan your finances? A.Set up a budget. B.Set goals. C.Determine your income. D.Freely spend your money. E.Prioritize your goals.

20. What do you think? Discussion 3 © EMC Publishing, LLC What are the 6 steps in developing a financial plan? What is a goal? What are three types of goals? Give an example for each type. How do goals affect your financial planning?

21. © EMC Publishing, LLC Your Financial Plan * Creating a budget will decrease your stress levels because, with a budget, there are no surprises. *With a budget you don’t have to panic or wonder if you have the money—you already know. *This sense of financial clarity is important not only in college, but throughout life for personal wellness.