Brought to you by $AFE Student Advocates for Financial Education. Your on campus personal financial educators!Services Include:Answers to your questions Free and confidential one-on-one financial counselingPresentations to classes and organizationsInformation sheetsOn-line and in-office resour
1. Spending Plans Ways to Manage Your Money
2. Brought to you by $AFE Student Advocates for Financial Education Your on campus personal financial educators!
Answers to your questions
Free and confidential one-on-one financial counseling
Presentations to classes and organizations
On-line and in-office resources
3. Discussion Points What is a Spending Plan?
Why are Spending Plans Important?
Developing a Spending Plan
Things to Remember
Please ask questions at any time!
4. What is a Spending Plan? Tool to help people manage their money
An estimate of income and expenses over a specific time period
5. Why are Spending Plans Important? Spending plans are a form of financial freedom
One knows they have $X.XX amount of money to spend on a specific item or activity
Eliminate nervousness/frustration of not having enough money
Help people meet financial goals
Help people live within their means
Reduce the need for using credit, eliminating financial stress
6. Developing a Spending Plan Income Fixed Income Income received is equal amount each time Salary, allowance Flexible Income: Income received varies in amount and/or time Hourly wages, gifts Expenses Fixed Expense Expense that is equal amount each time Rent, car payment Flexible Expense Expense varies in amount and/or time Food, clothing, entertainment