Spending Plans

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Spending Plans

  1. 1. Making money sensetips and ideas to help your family prosper<br />Spending Plans<br />1<br />
  2. 2. SPENDING PLAN DEFINITION<br />A plan or schedule adjusting expenses during a certain period to the estimated or fixed income for that period<br />Spending plans consist of spending, bill paying and savings<br />Spending plans turn your budget list into an outline for the future, making it possible to achieve specific goals through careful spending and thoughtful living<br />A budget on the other hand, is a list of what you owe, what you earn and where your money goes<br />2<br />
  3. 3. THREE ESSENTIAL PARTS<br />A spending plan should<br />Allocate funds to pay bills, which include both essential living expenses and debt repayment<br />Create a plan to build three types of savings<br />Emergency (Car repairs, home maintenance)<br />Set-Aside (Vacation, holidays)<br />Long-Term (Retirement, children’s education)<br />Provide allowance for each adult member of the family<br />3<br />
  4. 4. CREATE YOUR SPENDING PLAN<br />Bills<br />4<br />
  5. 5. CREATE YOUR SPENDING PLAN<br />Savings<br />5<br />
  6. 6. CREATE YOUR SPENDING PLAN<br />Spending Allowance<br />6<br />
  7. 7. WHAT CAN A BUDGET & SPENDING PLAN DO FOR YOU?<br />A budget and spending plan:<br />Puts you in control<br />Helps you create a visual spending picture<br />Helps you prevent impulse spending<br />Helps you decide what you can and cannot afford<br />Enables you to keep track of how you spend your money<br />7<br />
  8. 8. WHAT CAN A BUDGET & SPENDING PLAN DO FOR YOU?<br />A budget and spending plan:<br />Gives you something to look forward to when you spread spending money throughout the month<br />Helps you create a savings plan<br />Helps you end the financial “binge/starve” cycle<br />Helps you decide how you can protect yourself against the financial consequences of unforeseen events<br />8<br />
  9. 9. For more information:<br />920.882.4800<br />www.myprospera.com<br />For more great financial tips and news follow us on Twitter and facebook!<br />http://twitter.com/MyProspera<br />http://facebook.com/<br />9<br />

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