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NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins




             Unit 1 - Your Financial Plan:
             Where It All Begins
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins




  “Most people don’t plan to fail…
     They simply fail to plan!”




1-A
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins


The Five-Step
Financial
Planning
Process




1-B
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins



                                     Term Goals
              • SHORT-TERM GOALS
                    – Within three months
              • INTERMEDIATE-TERM GOALS
                    – Three months to a year
              • LONG-TERM GOALS
                    – More than a year


1-E
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins



                     Delayed Gratification
      • Saving money over time to make a major
        purchase.
      • Waiting to buy a new product until the
        price goes down.
      • Waiting to see the latest movie until it
        comes out on Netflix?
      • Can you create your own example?


1-F
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins




      S-M-A-R-T GOAL CRITERIA
                                        Specific
                                        Measurable
                                        Attainable
                                        Realistic
                                        Time-Limited

1-G
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins




         SMART Goals
                    Specific…….. “Pay 5-day trip totransportation,D.C.”
                                   for a
                                           for lodging,
                                                        Washington,
                                                                       meals



                    Measurable… “$300 through fundraising,a$50 from
                                   birthday money, save $25 week.”

                    Attainable….. “If I stick to my plan, I’ll have the money
                                   when I need it.”

                    Realistic……. on while I work toward this goal.”
                                   “I still have enough money to live



                    Time-Limited.. months from now.”
                                   “I need to have all the money by 6




1-H
A ge     Factors That Affect
W a n t s Decision Making N eed s


          wh at ab ou t you ?
F a m il y Time      Culture
                              Society

        M one y             M otivation
 Values                   Education
      Habits                 Attitud e s
1-J
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins



              Decision-Making Process
                          Identify Your
                              Goal


                                                            Establish
                                                             Criteria

                           Weigh Pros
                            and Cons


                                                         Make a Decision




                                              Evaluate
                                              Results
1-K
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All begins


           Decision Making and Financial Planning
       The Decision-                                    The Financial
      Making Process                                  Planning Process
           Identify Your
                                                        Set Goals
               Goal

                               Establish                              Analyze
                                Criteria                            Information

            Weigh Pros
                                                       Create a Plan
             and Cons

                                                                    Implement
                          Make a Decision
                                                                     the Plan

               Evaluate                               Monitor & Modify
               Results                                   the Plan
1-L
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins




          REALITY
          RESPONSIBILITY
          RESTRAINT

1-N
NE EHigh SchoolF ncia Pl nningPr a
           F             ina l a         ogr m
Unit One - Your Financial Plan: Where It All Begins




             Unit 1: Your Financial Plan:
             Where it All Begins

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Financial Decisions Presentation

  • 1. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins Unit 1 - Your Financial Plan: Where It All Begins
  • 2. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins “Most people don’t plan to fail… They simply fail to plan!” 1-A
  • 3. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins The Five-Step Financial Planning Process 1-B
  • 4. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins Term Goals • SHORT-TERM GOALS – Within three months • INTERMEDIATE-TERM GOALS – Three months to a year • LONG-TERM GOALS – More than a year 1-E
  • 5. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins Delayed Gratification • Saving money over time to make a major purchase. • Waiting to buy a new product until the price goes down. • Waiting to see the latest movie until it comes out on Netflix? • Can you create your own example? 1-F
  • 6. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins S-M-A-R-T GOAL CRITERIA Specific Measurable Attainable Realistic Time-Limited 1-G
  • 7. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins SMART Goals Specific…….. “Pay 5-day trip totransportation,D.C.” for a for lodging, Washington, meals Measurable… “$300 through fundraising,a$50 from birthday money, save $25 week.” Attainable….. “If I stick to my plan, I’ll have the money when I need it.” Realistic……. on while I work toward this goal.” “I still have enough money to live Time-Limited.. months from now.” “I need to have all the money by 6 1-H
  • 8. A ge Factors That Affect W a n t s Decision Making N eed s wh at ab ou t you ? F a m il y Time Culture Society M one y M otivation Values Education Habits Attitud e s 1-J
  • 9. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins Decision-Making Process Identify Your Goal Establish Criteria Weigh Pros and Cons Make a Decision Evaluate Results 1-K
  • 10. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All begins Decision Making and Financial Planning The Decision- The Financial Making Process Planning Process Identify Your Set Goals Goal Establish Analyze Criteria Information Weigh Pros Create a Plan and Cons Implement Make a Decision the Plan Evaluate Monitor & Modify Results the Plan 1-L
  • 11. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins REALITY RESPONSIBILITY RESTRAINT 1-N
  • 12. NE EHigh SchoolF ncia Pl nningPr a F ina l a ogr m Unit One - Your Financial Plan: Where It All Begins Unit 1: Your Financial Plan: Where it All Begins