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.
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“Your Financial Plan: Where It All Begins’
Warm-up – Work on summary questions – due Thursday
“Most people don’t plan to fail…They simply fail to plan!”
The Five-Step Financial Planning Process
Food for breakfast
Clothes for school
Transportation to school or work
Getting a good education
Religious faith or beliefs
Handling money responsibly
Friendships / The people I hang out with
Within three months
Three months to a year
More than a year
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.
S-M-A-R-T GOAL CRITERIA
“Pay for lodging, transportation, meals for a 5-day trip to Washington, D.C.”
“$300 through fundraising, $50 from
birthday money, save $25 a week.”
“If I stick to my plan, I’ll have the money when I need it.”
“I still have enough money to live on while I work toward this goal.”
“I need to have all the money by 6 months from now.”
What about you?
Make a Decision
NEFE High School Financial Planning Program
Create a Plan
Make a Decision
Monitor & Modify
Unit One - Your Financial Plan: Where It All begins
Decision Making and Financial Planning
The Financial Planning Process
Unit 1: Your Financial Plan:
Where it All Begins