money management - personal (modern) powerpoint presentation - PowerPoint PPT Presentation

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  1. Money Management (Personal)

  2. Program Objectives • Create and maintain a balanced budget. • Make loan and lease decisions. • Make knowledge-based home and car purchasing decisions. • Responsibly maintain debt. • Write checks. • Repair credit problems.

  3. Money Management (1 of 2) • Financial management is perhaps one of the most important yet complex skills required by everyone for daily survival. • Lack of knowledge or consideration in this area can lead to catastrophic financial problems that can take decades to fix.

  4. Money Management (2 of 2) • The lessons introduced to you in this program will help you thrive in today’s financial world. • The information provided in this program must also be supported by your own research and or advisement from a professional before making financial decisions.

  5. Budget Considerations

  6. Prioritizing Your Budget (1 of 5) • What do you do if you can pay off your monthly household expenses, but are having trouble paying off your loans? • Pay off the loan with the highest interest rate first to save on interest payments. • Talk to your creditor! • He or she may be willing to reduce your payments or change the terms to accommodate your situation.

  7. Prioritizing Your Budget (2 of 5) • Some creditors might offer extensions, smaller payments over a longer period of time, or might accept partial payments. • Get a debt consolidation loan: • If loan fees and interest rates are too high, it may not be the best option for you. • Get professional advice; reputable credit counselors can help you deal with your financial problems.

  8. Prioritizing Your Budget (3 of 5) • Some organizations charge little or nothing for their services. • Be cautious of companies that promise to fix your credit problems right away. • Credit repair can be a long process that might take several years.

  9. Prioritizing Your Budget (4 of 5) • What payments do I make first if I don’t have enough money to pay for all my bills? • Pay off your necessary household expenses first, such as rent or mortgage—avoid foreclosure or eviction. • Think about the health and safety of your family when making these types of decisions.

  10. Prioritizing Your Budget (5 of 5) • Many utilities, such as: • The telephone company, electric company, and gas company, have programs to lower your bill if you qualify. • Contact your utility company for assistance. • Remember, everyone has different priorities.  • You will have to make the decisions that are right for you.

  11. Budgeting Tools

  12. Budget Box System • The budget box is a small box with dividers for each day of the month. • When you receive a bill, check the due date and place it behind the divider that represents the bill’s due date. • As you receive income, pay all bills that are due.

  13. Download “Money Management Personal” PowerPoint Presentation at 172 slides include: slides on budget and budgeting tools and software will give you the knowledge to keep track of your money, plus content slides on buying, selling, and trading a car and dealing with car loans; home buying, including leasing info and mortgage loans, and checks. You’ll find the information you need to guide you on the path to successful money management. Royalty Free - Use Them Over and Over Again. Once purchased, download instructions will be sent to you via email. (PC and MAC Compatible).