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Life is a journey. If you think you can make the trip without a plan, you are in for a bumpy ride. What is a plan?. A plan is A method or process worked out in advance that leads to the achievement of some goal. Systematic Flexible How much planning do you do?. The Planning Process.

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life is a journey
Life is a journey. . .

If you think you can make the trip without a plan, you are in for a bumpy ride.

what is a plan
What is a plan?
  • A plan is
    • A method or process worked out in advance that leads to the achievement of some goal.
    • Systematic
    • Flexible
  • How much planningdo you do?
the planning process
The Planning Process
  • Set a goal.
    • A goal is something you want to achieve or obtain.
    • Living in the present moment is not a goal.
  • Why is it important to plan for long-term goals?
  • Is it important to plan for short-term goals?
the planning process1
The Planning Process
  • Acquire knowledge
    • Figure out what it takes to achieve your goal.
  • How do you acquire knowledge about your goal?
the planning process2
The Planning Process
  • Compare alternatives
    • Analyze the pluses and minuses of each.
  • What methods have you used to compare 2 things?
the planning process3
The Planning Process
  • Choose a strategy
  • Make a commitment
    • Keep your eyes on the prize.
  • Keep flexible
    • Evaluate your progress.
    • Deal with set backs and opportunities.
  • Use Word shapes or Smart Art to create a flowchart of the 6 steps in the planning process for either your Cosmos 3-5 year goal or 7-10 year goal.
  • Make sure you identify each of the 6 steps.
  • You must have at least 2 alternatives with at least 1 plus and 1 minus for each.
  • Your flowchart must fit on a standard sheet of paper (8.5” x 11”) in either portrait or landscape orientation.
  • Key your name and the date in the header.
  • Print your flowchart and submit it.
plan for your life
Plan for your life
  • Career
  • Self
  • Lifestyle
  • Relationships
  • Finances
  • On a piece of paper, for each aspect of your life above, identify a short-term goal (that could be completed this semester). Then identify at least 1 action you might take to achieve this goal.
  • Finances Example:Short-term goal = Money to go to the beach this summer Action = Look in newspaper for part-time job
be a planner vs be impulsive
Be a Planner vs. Be Impulsive
  • Describe someone who is a complete planner and someone who is completely impulsive.
  • What are the advantages and disadvantages of each extreme?
  • How would you describe the balance between spontaneity and planning in your life? Would you like to shift the balance? How?
financial planning
Financial planning . . .

Begins with a career strategy.

how do you choose a career
How do you choose a career?
  • What things should you consider when choosing a career?
  • At what age should you begin making career decisions?
  • What resources are available to you to help you make career decisions?
job facts fact 1
Job Facts – Fact 1

Unskilled Skilled & Technical Professional

job facts fact 2
Job Facts – Fact 2
  • The salary gap between low-skill and high-skill jobs is growing wider.
job facts fact 3
Job Facts – Fact 3

Education pays.

job facts fact 4
Job Facts – Fact 4
  • Jobs are less stable and secure than they used to be.
  • Why?
  • How many different full-time jobs are you likely to have in your lifetime?
job facts fact 5
Job Facts – Fact 5
  • The fastest growing group of workers in America is people who are working out of their homes.
  • Why?
a career dilemma
A Career Dilemma . . .

Do not hire a man who does your work for money, but him who does it for love of it. Henry David Thoreau

  • Success isn't measured by money or power or social rank. Success is measured by your discipline and inner peace. Mike Ditka
  • Money won't make you happy... but everybody wants to find out for themselves. ZigZiglar
  • People say that money is not the key to happiness, but I always figured if you have enough money, you can have a key made. Joan Rivers
money vs happiness
Money vs. Happiness
  • Raise your hand if:
    • You have a part-time job.
    • Your part-time job is in a career field of interest.
    • You have a part-time job primarily for the money.
    • The majority of your earnings go to current expenses e.g., car insurance, clothing, entertainment
    • You save some of your earnings.
    • You invest some of your earnings.
money vs happiness1
Money vs. Happiness
  • A good job is an important part of personal financial planning. But a good financial plan supported by a saving and investment strategy can also make it possible for you to do work you enjoy.
planning for college
Planning for College
  • How are you going to pay for college?
    • Grants and scholarships
    • Educational loans
    • Work aid
    • Military
    • Employer
many people are on a treadmill
Many people are on a treadmill . . .

They work and earn and spend their whole lives, but they never seem to get ahead.

the budgeting process
The Budgeting Process
  • Track income and expenses.
    • A budget must be realistic to work.
    • If you try to start a budget without knowing the amount of money currently coming in and going out, your budget is doomed from the start.
daily spending earning record analysis
Daily Spending/Earning Record Analysis

Analyze your Daily Spending/Earning Record according to the instructions on the handout.

manage your money better
Manage your moneybetter . . .

And make it go further.

use credit wisely
Use credit wisely
  • What types of credit are available?
  • In what situations/For what types of purchases would it be wise to use credit?
  • In what situations/Forwhat types of purchasesshould you avoid usingcredit?
do without
Do without
  • Think about your spending/earning record analysis. How hard will it be for you to give up something on which you are spending money in order to save money for a short-term goal?
buy intelligently
Buy intelligently
  • Identify tips for getting the most for your money on the things that you buy on a regular basis.
  • Identify tips for getting the most for your money on major purchases.
self provide
Self provide
  • Self-providing = providing in a direct hands-on way for your needs and the needs of your family.
  • Do-It-Yourself
  • Describe do-it-yourself activities in which you or people you know are involved.