I will be able to
- apply reliable information and systematic decision making to personal financial decisions.
- maintain creditworthiness
- Overview/structure of the class
- Contact building
- Goal setting: What do you hope to learn this trimester? 2 measurable goals
- Workbooks!
- Take this Personal Finance Poll!
- Video - Getting started
Rest of the Week:
- Chapter 1
- videos
- workbook pages
- journal entries (Answer questions below!)
- Money Personality Quiz
- Game of Chance
- Parent Interview
- Chapter 2
- BEFORE - create a saving vision board
- What do you want to save for?
- Create a Google Drawing and insert pictures of what you want to save for in the future. Post it (1) to you blog in your Personal Finance info and (2) share it with me.
- videos
- workbook pages
- journal entries (Answer questions below!)
- Sinking Fund Savings
- Rate of Return
I could better manage my money if I paid more attention to what is in my bank account (rather than withdraw Andrew Jacksons at will), and asked myself if I really need another ICEE and Toblerone. When I receive a significant amount of money, such as from birthday/holidays or if I babysit for a few weeks in a row, I should keep track of it and decide what I really want to spend that money on - college? a macro camera lens? I have this TERRIBLE habit of not getting a receipt when I withdraw money. If I don't look I can pretend everything is okay, and that is not okay.
ReplyDeleteI need to learn how to better keep track of my money. I just swipe my debit card for everything. I don't write down what I spent. I only rely on my bank statements to know what I have in my account. I keep a lot of petty cash in my room (not my wallet), but I just grab it when I think I need to. I never really know how much is in my "jar".
ReplyDeleteI think Dave's biggest lesson was that it starts and ends with you. He pointed out that we have the power to control our money and our lives. He hit rock bottom but he learned from it because he chose to.
ReplyDeleteI want my financial future to be stable. I don't want to fret about where I am going to find money for my needs.
ReplyDeleteWhat I kept thinking about during Dave Ramsey's story was Michael Jackson's "Man in the Mirror". It sounds silly but it applies to what I feel he was trying to convey! You are responsible for the wealth in your life! If mistakes are made, learn from them.
ReplyDeleteI want my financial future to not cause me major stress and frustration. I would love to feel comfortable and not worry about how I'm going to pay my bills. Even more so, I want to always have gas money. It's the main thing I've struggled with since getting my driver's license (over a year ago). I never want to be stuck at home because I couldn't afford gas. This can apply to car insurance and monthly payments as well, but right now I have most experience with gas.
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ReplyDeleteKeeping me from saving is spending money on what I want. I have become increasingly better at saving but I still need to learn to fight the urge that wants me to spend.
ReplyDeleteIn what ways could you do better when it comes to managing your money?
ReplyDeleteI could set money goals to motivate myself to save more. I could also spend less on gifts.
How do you want your financial future to look?
ReplyDeleteI want to be debt and stress free. I want to be secure and happy with my situation.
What are your initial thoughts about saving? What do you want to learn about saving?
ReplyDeleteAlthough it's hard to save money, I know it is really important to save your money. I want to learn where and how to spend it.
What has kept you from saving in the past? Based on what you've learned, how can you change this?
ReplyDeleteWild spending, fixing my car continuously, and not saving enough. I need to NOT touch my emergency savings.
How is saving an exercise of your character?
ReplyDeleteI get to know myself better and my behaviors. It creates good habits that I'll use throughout life.
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ReplyDeleteWhen a lot of money comes out of my savings it's because my parents have used it or I've taken out some for clothes I needed. The only big thing I've taken from my savings is for a digital camera I use constantly and don't regret spending money on. However now whenever I get new money (payback from parents, holidays, or birthdays) I spend it and don't save. I've learned if I put it into a bank account I'm less likely to touch it.
ReplyDeleteAn emergency fund helps protect your wealth because then when an unexpected event occurs, you're prepared for it. You won't be dipping into money you need to use for other expenses.
ReplyDeleteI think people borrow money instead of using a sinking fund because they either aren't thinking ahead or they want the good right then and there, they don't feel they can wait for it.
ReplyDeleteWhy don't more people save for the future? Which reasons can be fixed by having a money plan?
ReplyDeleteSaving money can be difficult, it's a struggle to not spend money on items you want. We just need to learn to have patience and stick to our money plan, it'll keep us from becoming broke.
I haven't saved in the past-not really. I don't think having money for a month then spending it all is really saving. I like to buy stuff and do activities. From what I have learned I can change this by keeping my saving completely separate and not touch it!
ReplyDeleteWhen you say no to spending when you don't need to and work to receive money, it will stay. Wealth isn't about what you had, it is what you have. If you don't have that emergency fund you "are inviting Murphy to live with you" (Dave Ramsey).
ReplyDeleteDescribe in your own words what it means to have a budget.
ReplyDeleteTo have a budget means to have a plan and to know where your money is going.
Saving money is hard. It takes patience. In our culture, we want what we want now, whether it is a big or small purchase. And don't worry, we can usually justify it to ourselves, if no one else.
ReplyDeleteWhat do you think is most challenging when it comes to keeping a monthly budget?
ReplyDeleteThe fear of never being able to make purchases on items you want or never being able to go out and eat.
Saving means discipline. If you want your future to involve having some money you have to start it now. You have to control yourself, which is a quality that not everyone posses, but can.
ReplyDeleteSaving is an exercise of your character because it requires discipline. It confronts habits. Are you the type of person to spend money without considering the consequences? Do you just not care for what may happen if you don't save? Or can you save for what you need and want without giving into temptation?
ReplyDeletePeople generally don't save for the future because somewhere along the way they've ended up having to live paycheck to paycheck. Or, they think that if they have enough money now then they'll have enough money when they get older.
ReplyDeleteBy having a money plan you can extend that paycheck and decrease previous expenses that have caused problems.
Why do you think it is so common in America to spend more than you make?
ReplyDeleteAmericans want more than they need and they want it now!
Explain in your own words what a zero-based budget is. Why is it important to write a zero-based budget every month?
ReplyDeleteA zero-based budget is telling every dollar where to go. If you give each dollar a name and where it's spent, you'll be less likely to spend money where it doesn't belong.
People don't save for the future because they are thinking of their immediate needs and because they don't know how to do it right. A money plan can fix both of the reasons. A specific money plan forces you to decide where the money will go. Also, it shows you later on what you did right and what you should change.
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