Spending Plans

Spending Plans PowerPoint PPT Presentation


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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

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Spending Plans

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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! Services Include: Answers to your questions Free and confidential one-on-one financial counseling Presentations to classes and organizations Information sheets On-line and in-office resources

3. Discussion Points What is a Spending Plan? Why are Spending Plans Important? Developing a Spending Plan Controlling Spending 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

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