1. Budgeting Personal Finance

2. Financial Planning Net Worth Income Expenditures Unplanned Expenditures Debt Savings

3. Net Worth Net Worth = Assets – Liabilities How much of what you own do you actually own? Many Americans have a Negative Net Worth 65% <100,000 dollars

4. Income Work Career Planning Need Skill Level Education Level Ability Pay Net Income vs. Gross Income

5. Average Starting Salaries by Education

6. Expenses Housing – 30% Utilities – 5% Food – 15% Transportation – 10% Insurance – 5% Household Expenses – 5% Leisure – 5% Savings – 10% Debt Repayment – 10% Misc – 5%

7. Debt Expenditures above income Credit Cards Loans

8. Planning Education Rainy Day Large Purchases Family Charity Retirement

9. Financial Plan Plan for Budget Step 1: Net Worth Step 2: Income Step 3: Expenses Step 4: Taxes Manage Liquidity Plan for Financing Manage Risk Plan Investments Plan Retirement Keep Records