1. INTRODUCTION TO PERSONAL FINANCE WHY DO WE NEED TO MANAGE OUR MONEY?

2. Today’s objective Personal finance impacts whether or not people meet their personal goals.

3. WHAT IS PERSONAL FINANCE? -A personal finance plan includes financial goals and a budget, including spending on goods and services, savings and investments, insurance and philanthropy. -More than budgeting, more than investing -It is a thinking process; an on-going thinking process

4. DECISIONS, DECISIONS -Your personal beliefs about money are major forces that guide your spending decisions and goals. -Personal finance is a roadmap in guiding you through your financial life. -You need to consider your career, salary, budget, savings plan, retirement plan, and goals. -It is never too early to start thinking about your personal finance goals!!!

5. HOW DO I BEGIN? -Think about a potential career and how you can obtain that career -Look at your current financial situation -Develop financial goals -Identify all of your options -Evaluate alternatives -Create and use a financial plan of actions -Review, revise, review, and revise you plan (this happens periodically)

6. DETERMINE YOUR CURRENT FINANCIAL SITUATION 1.Determine your current financial situation Make a list of items that relate to your finances: -savings/investment -monthly incomes (job earnings, allowance, gifts, interest) -Monthly expenses -Debts

7. DEVELOP YOUR FINANCIAL GOALS 2. Develop your financial goals. Consider your attitude toward money. Ask yourself the following: -How do I determine if it is more important to spend money now, or save it for the future? -How do your personal values affect your financial decision?

8. IDENTIFY YOUR OPTIONS 3. Identify your options -Continue the same course of action -Expand the current situation -Change the current situation -Start something new

9. EVALUATE YOUR ALTERNATIVES -Consider the risks and consequences of each decision you make -1. Be aware of all sources of financial information -2. Evaluate consequences of choices, both good and bad. -3. Understand risks involved with choices

10. CREATE, REVIEW, AND REVISE Create and use your financial plan Just do it!!!!!! Review and revise your plan - As we get older and our circumstances, our finances, needs, and wants will change, therefore our financial plan must be flexible as well.

11. WHAT INFLUENCES YOUR GOALS? -Our society -Our culture -Your emotions -Financial resources -Peer pressure (advertising for products, what you see others buy) -Scarcity (not enough resources to fulfill our needs) -Wants and Needs

12. WHY PERSONAL FINANCE GOALS ARE IMPORTANT? -Good financial behavior reaps many benefits: -Security -Ability to achieve goals -Less worry about finances -If bad financial behavior occurs the following can happen: -Bankruptcy -Debt -Job less -Inability to pay bills