Objective apply knowledge of decision making to financial issues
This presentation is the property of its rightful owner.
Sponsored Links
1 / 16

Objective – Apply knowledge of decision making to financial issues PowerPoint PPT Presentation


  • 85 Views
  • Uploaded on
  • Presentation posted in: General

Ob. Objective – Apply knowledge of decision making to financial issues. “Your Financial Plan: Where It All Begins’. Warm-up – Work on summary questions – due Thursday. “Make a Plan Sam” Are you Doomed for Failure or Destined for Success.

Download Presentation

Objective – Apply knowledge of decision making to financial issues

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Objective apply knowledge of decision making to financial issues

Ob

Objective – Apply knowledge of decision making to financial issues

“Your Financial Plan: Where It All Begins’

Warm-up – Work on summary questions – due Thursday


Make a plan sam are you doomed for failure or destined for success

“Make a Plan Sam”Are you Doomed for Failure or Destined for Success


Objective apply knowledge of decision making to financial issues

“Most people don’t plan to fail…They simply fail to plan!”

1-A


Objective apply knowledge of decision making to financial issues

The Five-Step Financial Planning Process

1-B


Sample wants and needs

NEEDS

Food for breakfast

Clothes for school

Transportation to school or work

______________

______________

WANTS

An iPOD

DVD Players

Cell Phone

Hot Car

______________

______________

Sample Wants and Needs

1-C


Values

Getting a good education

Religious faith or beliefs

Social causes

Handling money responsibly

Friendships / The people I hang out with

____________________________

____________________________

Values

1-D


Term goals

SHORT-TERM GOALS

Within three months

INTERMEDIATE-TERM GOALS

Three months to a year

LONG-TERM GOALS

More than a year

Term Goals

1-E


Delayed gratification

Saving money over time to make a major purchase.

Waiting to buy a new product until the price goes down.

Waiting to see the latest movie until the crowds get smaller and the lines shorter.

____________________________________________________________________

Delayed Gratification

1-F


Objective apply knowledge of decision making to financial issues

S-M-A-R-T GOAL CRITERIA

Specific

Measurable

Attainable

Realistic

Time-Limited

1-G


Objective apply knowledge of decision making to financial issues

SMART Goals

Specific……..

“Pay for lodging, transportation, meals for a 5-day trip to Washington, D.C.”

Measurable…

“$300 through fundraising, $50 from

birthday money, save $25 a week.”

Attainable…..

“If I stick to my plan, I’ll have the money when I need it.”

Realistic…….

“I still have enough money to live on while I work toward this goal.”

Time-Limited..

“I need to have all the money by 6 months from now.”

1-H


Factors that affect decision making

Age

Factors That AffectDecision Making

Needs

Wants

What about you?

Family

Culture

Time

Society

Motivation

Money

Values

Education

Habits

Attitudes

1-J


Show me the

Show me the $$

  • Budget Busters


Decision making process

Decision-Making Process

Identify Your

Goal

Establish

Criteria

Weigh Pros

and Cons

Make a Decision

Evaluate

Results

1-K


The decision making process

NEFE High School Financial Planning Program

Set Goals

Identify Your

Goal

Analyze

Information

Establish

Criteria

Create a Plan

Weigh Pros

and Cons

Implement

the Plan

Make a Decision

Monitor & Modify

the Plan

Evaluate

Results

Unit One - Your Financial Plan: Where It All begins

The Decision- Making Process

Decision Making and Financial Planning

The Financial Planning Process

1-L


Spending record

Spending Record

$6.00

$35.00

$4.00

$7.00

$5.00

$8.00

$15.00

$15.00

$55.00

$40.00

$15.00

1-I


Objective apply knowledge of decision making to financial issues

Unit 1: Your Financial Plan:

Where it All Begins


  • Login