Life is a journey
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Life is a journey. If you think you can make the trip without a plan, you are in for a bumpy ride. What is a plan?. A plan is A method or process worked out in advance that leads to the achievement of some goal. Systematic Flexible How much planning do you do?. The Planning Process.

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Life is a journey
Life is a journey. . .

If you think you can make the trip without a plan, you are in for a bumpy ride.

What is a plan
What is a plan?

  • A plan is

    • A method or process worked out in advance that leads to the achievement of some goal.

    • Systematic

    • Flexible

  • How much planningdo you do?

The planning process
The Planning Process

  • Set a goal.

    • A goal is something you want to achieve or obtain.

    • Living in the present moment is not a goal.

  • Why is it important to plan for long-term goals?

  • Is it important to plan for short-term goals?

The planning process1
The Planning Process

  • Acquire knowledge

    • Figure out what it takes to achieve your goal.

  • How do you acquire knowledge about your goal?

The planning process2
The Planning Process

  • Compare alternatives

    • Analyze the pluses and minuses of each.

  • What methods have you used to compare 2 things?

The planning process3
The Planning Process

  • Choose a strategy

  • Make a commitment

    • Keep your eyes on the prize.

  • Keep flexible

    • Evaluate your progress.

    • Deal with set backs and opportunities.


  • Use Word shapes or Smart Art to create a flowchart of the 6 steps in the planning process for either your Cosmos 3-5 year goal or 7-10 year goal.

  • Make sure you identify each of the 6 steps.

  • You must have at least 2 alternatives with at least 1 plus and 1 minus for each.

  • Your flowchart must fit on a standard sheet of paper (8.5” x 11”) in either portrait or landscape orientation.

  • Key your name and the date in the header.

  • Print your flowchart and submit it.

Plan for your life
Plan for your life

  • Career

  • Self

  • Lifestyle

  • Relationships

  • Finances

  • On a piece of paper, for each aspect of your life above, identify a short-term goal (that could be completed this semester). Then identify at least 1 action you might take to achieve this goal.

  • Finances Example:Short-term goal = Money to go to the beach this summer Action = Look in newspaper for part-time job

Be a planner vs be impulsive
Be a Planner vs. Be Impulsive

  • Describe someone who is a complete planner and someone who is completely impulsive.

  • What are the advantages and disadvantages of each extreme?

  • How would you describe the balance between spontaneity and planning in your life? Would you like to shift the balance? How?

Financial planning
Financial planning . . .

Begins with a career strategy.

How do you choose a career
How do you choose a career?

  • What things should you consider when choosing a career?

  • At what age should you begin making career decisions?

  • What resources are available to you to help you make career decisions?

Job facts fact 1
Job Facts – Fact 1

Unskilled Skilled & Technical Professional

Job facts fact 2
Job Facts – Fact 2

  • The salary gap between low-skill and high-skill jobs is growing wider.

Job facts fact 3
Job Facts – Fact 3

Education pays.

Job facts fact 4
Job Facts – Fact 4

  • Jobs are less stable and secure than they used to be.

  • Why?

  • How many different full-time jobs are you likely to have in your lifetime?

Job facts fact 5
Job Facts – Fact 5

  • The fastest growing group of workers in America is people who are working out of their homes.

  • Why?

A career dilemma
A Career Dilemma . . .

Do not hire a man who does your work for money, but him who does it for love of it. Henry David Thoreau

  • Success isn't measured by money or power or social rank. Success is measured by your discipline and inner peace. Mike Ditka

  • Money won't make you happy... but everybody wants to find out for themselves. ZigZiglar

  • People say that money is not the key to happiness, but I always figured if you have enough money, you can have a key made. Joan Rivers

Money vs happiness
Money vs. Happiness

  • Raise your hand if:

    • You have a part-time job.

    • Your part-time job is in a career field of interest.

    • You have a part-time job primarily for the money.

    • The majority of your earnings go to current expenses e.g., car insurance, clothing, entertainment

    • You save some of your earnings.

    • You invest some of your earnings.

Money vs happiness1
Money vs. Happiness

  • A good job is an important part of personal financial planning. But a good financial plan supported by a saving and investment strategy can also make it possible for you to do work you enjoy.

Planning for college
Planning for College

  • How are you going to pay for college?

    • Grants and scholarships

    • Educational loans

    • Work aid

    • Military

    • Employer

Many people are on a treadmill
Many people are on a treadmill . . .

They work and earn and spend their whole lives, but they never seem to get ahead.

The budgeting process
The Budgeting Process savings of about $2,300.

  • Track income and expenses.

    • A budget must be realistic to work.

    • If you try to start a budget without knowing the amount of money currently coming in and going out, your budget is doomed from the start.

Daily spending earning record analysis
Daily Spending/Earning Record Analysis savings of about $2,300.

Analyze your Daily Spending/Earning Record according to the instructions on the handout.

Manage your money better
Manage your money savings of about $2,300.better . . .

And make it go further.

Use credit wisely
Use credit wisely savings of about $2,300.

  • What types of credit are available?

  • In what situations/For what types of purchases would it be wise to use credit?

  • In what situations/Forwhat types of purchasesshould you avoid usingcredit?

Do without
Do without savings of about $2,300.

  • Think about your spending/earning record analysis. How hard will it be for you to give up something on which you are spending money in order to save money for a short-term goal?

Buy intelligently
Buy intelligently savings of about $2,300.

  • Identify tips for getting the most for your money on the things that you buy on a regular basis.

  • Identify tips for getting the most for your money on major purchases.

Self provide
Self provide savings of about $2,300.

  • Self-providing = providing in a direct hands-on way for your needs and the needs of your family.

  • Do-It-Yourself

  • Describe do-it-yourself activities in which you or people you know are involved.