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©2015HappyEdugator
YOUR FINANCIAL
FUTURE!
PERSONAL MONEY MANAGEMENT CHOICES
©2015HappyEdugator
THE SOONER THE BETTER!!
IT’S TOO BAD MONEY DOESN’T REALLY GROW ON TREES!!THE SOONER YOU DEVELOP GOOD MONEYHABITS THE BETTER OFF YOU WILL BE INTHE LONG RUN!!
MONEY IS NOT SO IMPORTANT FOR WHAT IT IS, BUT FOR WHAT IT CAN DO!
MONEY – THE MEDIUM OF EXCHANGE USED TO BUY GOODS AND SERVICES.
©2015HappyEdugator
INCOME
YOUR INCOME PROVIDES YOU WITH MONEYTO SPEND ON WHATEVER YOU CHOOSE.
PEOPLE EARN INCOME BY GIVING THEIR TIMEAND SERVICES TO AN EMPLOYER, AND RECEIVING MONEY IN RETURN.
©2015HappyEdugator
SPENDINGspend (sp nd)v. spent (sp nt), spend·ing, spends v.tr.1. To use up or put out; expend: spent an hour exercising.2. To pay out (money).3. To wear out; exhaust: The storm finally spent itself.4. To pass (time) in a specified manner or place: spent their vacation in Paris.5. a. To throw away; squander: spent all their resources on futile projects.b. To give up (one's time or efforts, for example) to a cause; sacrifice.v.intr.1. To pay out or expend money.2. To be exhausted or consumed
IN EVERY CASE, SPENDING IS DEFINEDAS THE SACRIFICE OF ONE THING IN EXCHANGE FOR SOMETHING ELSE.
©2015HappyEdugator
CREDIT PEOPLE USE CREDIT TO BUY SOMETHING NOW AND PAY FOR ITLATER.
WHEN YOU BUY SOMETHING ONCREDIT, YOU USUALLY HAVE TOPAY THE AMOUNT BORROWEDPLUS AN ADDITIONAL AMOUNTIN INTEREST.
CREDIT CAN BE GOOD OR BAD. IT ALL DEPENDS ON YOU!
GOOD CREDIT COMES WITH A GOOD REPUTATION FOR BEINGA RESPONSIBLE BORROWER, WHEREAS BAD CREDIT COMES FROM THE OPPOSITE REPUTATION!
©2015HappyEdugator
INTEREST INTEREST CAN WORK FOR YOU OR AGAINST YOU.
SAVINGS ACCUMULATE INTERESTFOR YOU, WHILE CREDIT CAN ACCUMULATE INTEREST AGAINST YOU.
PEOPLE WHO MAKE LOANS LIKE BANKS MAKE MONEY BY DOING SO FROM INTEREST PAYMENTS.
INTEREST IS A FEE PAID FOR THE USE OF SOMEONE ELSE’S MONEY.
©2015HappyEdugator
MAKE YOUR MONEY GROW!
SAVING
©2015HappyEdugator
SAVING SAVING MONEY CAN EARN YOU MONEY!
EARNING MONEY THROUGH SAVING IS DONE WHEN YOU PUT YOUR MONEY IN AN ACCOUNTLIKE THAT OF A BANK OR CREDIT UNION THAT PAYS YOU INTEREST!
JUST LIKE YOU HAVE TO PAY INTEREST WHEN YOU BORROW MONEY, THE BANK PAYS YOU INTEREST WHEN YOU ALLOW THEM TO USE YOUR MONEY.
SAVING TAKES DISCIPLINE AND PATIENCE, AND IT IS OFTEN A SLOWER WAY TO OBTAIN YOUR GOAL, BUT YOU WILL PAY LESS FOR WHAT YOU WANT BY SAVING RATHER THAN BORROWING TO OBTAIN WHAT YOU WANT FASTER.
©2015HappyEdugator
INVESTING SAVING ALSO ALLOWS YOU TO INVEST.
SAVING ALLOWS YOU TO INCREASE YOUR HOLDINGS BY INVESTING.
INVESTING CAN BE DONE IN MANY DIFFERENT WAYS:1. STOCKS AND BONDS2. COLLECTIBLES3. REAL ESTATE4. NATURAL RESOURCES5. BUSINESS(YOUR OWN OR SOMEONE
ELSE’S)
LIKE ANYTHING ELSE WHERE MONEY IS CON-CERNED, THERE IS ALWAYS SOME RISK INVOLVED WITH INVESTING. IT IS A GAMBLE.
©2015HappyEdugator
What are ways to earn income as a teenager? DISCUSS:• How will the decisions you make now affect your ability to make money as an adult? • What factors can improve a person’s income making potential? • How does a person decide on what to spend his/her income? • How does buying on credit work? • Why do people use credit? • What are the advantages and disadvantages of using credit? • By what methods can people save their money? • Why is it important to save money? • What does investing money mean? • Why do people invest? • What are the advantages and disadvantages of investing?
©2015HappyEdugator
YOUR TASKMAKE A FINANCIAL DECISION
©2015HappyEdugator
INSTRUCTIONSDEFINE A GOAL (SHORT TERM) OF SOMETHING YOU WANT.MAKE A FINANCIAL PLAN AND WRITE YOUR PLAN DOWN STEP BY STEP BY:
STATE THE COST OF WHAT YOU WANT 1. LIST YOUR INCOME and EXPENSES2. SUBTRACT YOUR EXPENSES FROM YOUR INCOME. WHAT
YOU HAVE LEFT IS YOUR DISPOSABLE INCOME. THIS IS THE AMOUNT LEFT AFTER EXPENSES ARE PAID, WHICH YOU MAY USE TO PURCHASE WANTS.
3. AMOUNT CURRENTLY POSSESSED4. AMOUNT NEEDED5. PLAN OF ACTION TO OBTAIN AMOUNT NEEDED (SPENDING)6. CREDIT TO BE USED IF ANY7. PLAN OF REPAYMENT IF NEEDED8. INTEREST PAID (IF APPLICABLE)9. SAVINGS USED OR PLANNED TO BE USED10. INVESTMENT(TIME AND/OR MONEY)11. BUDGET OF TIME AND MONEY
©2015HappyEdugator
Thank you for downloading my Money Management Choices PowerPoint. I hope that you enjoy the resource and get a lot of use out of it. Please let me know if you have any questions or concerns. My email address is [email protected].
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Deborah Hayesaka HappyEdugator
