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Small Change Adds Up

Small Change Adds Up. This program is made possible by The Daniel Graham Foundation and Colorado Society of Certified Public Accountants. SPEND – SAVE - SHARE. MONEY – Where does it come from? Where does it go?

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Small Change Adds Up

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  1. Small Change Adds Up This program is made possible by The Daniel Graham Foundation and Colorado Society of Certified Public Accountants.

  2. SPEND – SAVE - SHARE MONEY – Where does it come from? Where does it go? How can we pay for all of our “needs” and still afford “wants” (like entertainment)? Let’s look at an example-

  3. Let’s say your mom or dad makes $13 per hour at their job If Mom or Dad works full time there are 2080 work hours/year So how many dollars is that a year? $27,040 – Looks like a lot of money, huh?

  4. But before you even get it – TAXES are taken out! Let’s deduct 8% for taxes – ($2,163) That leaves $24,877 Which when we divide by 12 gives us $2,073 per month

  5. But….. Where does it go? • Rent or Mortgage? $1,000 • Utilities? (Electricity, Heat, Water) $100 • Transportation? (Car, Gasoline, Bus) $200 • Groceries? (If you spend about $75/wk) $325 • Clothes/Shoes/Accessories? $100 • Insurance? (Health, Renters, Auto, Homeowners) $100 • Cell phones? $80 • Gifts? (Birthdays, Christmas, Charitable) $40 • Other? (Toilet Paper, 409, Windex, Shampoo) $40

  6. Well, look right now – We’re down to $88! And what happens if… • We need a new lamp or a vacuum cleaner or a couch? • Mom or Dad has a car payment? • The car breaks down? • We need a haircut? Can you think of some other things?

  7. And what about ENTERTAINMENT? • Are we going on vacation? • Are we traveling to visit relatives? That costs money too! • Do we have Cable TV or Satellite at our house? And what else do we like to do for entertainment? • MOVIES? • GAMES? • EATING OUT?

  8. That’s what we’re going to talk about today… When there’s not a lot of money left for entertainment - The library is a GREAT place to start!!

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