HUSC 3366 Chapter 2 Money Management Skills

Money Management Skills Chapter 2

Objectives ,[object Object],[object Object],[object Object],[object Object]

Lesson 1 A Successful Money Management Plan

Planning for Successful Money Management ,[object Object],[object Object],[object Object],3-2

Opportunity Cost and Money Management ,[object Object],[object Object],[object Object],[object Object],[object Object],3-3

Major Money Management Activities Creating and implementing a plan for spending, and saving (budgeting). Creating personal financial statements (balance sheets and cash flow statements of income and outflow). 3-4 Storing and maintaining personal financial records and documents.

Benefits of an Organized System of Financial Records ,[object Object],[object Object],[object Object],[object Object],[object Object],3-5

What to Keep in Your Home File ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-6

What to Keep in a Safe Deposit Box ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-7

Records on Personal Computer ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-8

How Long to Keep Records ,[object Object],[object Object],[object Object],[object Object],3-9

Lesson 2 Personal Financial Statements

Purpose of Personal Financial Statements ,[object Object],[object Object],[object Object],[object Object],3-10

Money Management & Achieving Financial Goals ,[object Object],[object Object],[object Object],3-21

Components of a Balance Sheet (net worth statement) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-11

Where Did Your Money Go? Components of a Cash Flow Statement ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-12

Ratios for Evaluating Financial Progress ,[object Object],[object Object],[object Object],[object Object],[object Object],3-13

Lesson 3 A Plan for Effective Budgeting

Purposes of a Budget ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-14

Creating and Implementing a Budget ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-15

Creating and Implementing a Budget ,[object Object],[object Object],[object Object],[object Object],[object Object],3-16

Characteristics of Successful Budgeting ,[object Object],[object Object],[object Object],[object Object],3-17

Selecting a Budgeting System ,[object Object],[object Object],[object Object],[object Object],[object Object],3-18

Lesson 4 Money Management and Achieving Goals

Saving to Achieve Financial Goals ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-19

Savings Techniques-If I don’t see it, I won’t spend it ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3-20

Personal Financial Plan Assignments ,[object Object],[object Object],[object Object],[object Object],3-22

Online Research ,[object Object],[object Object],3-23

HUSC 3366 Chapter 2 Money Management Skills

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HUSC 3366 Chapter 2 Money Management Skills