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Please…. Log into Moodle and complete today’s Bell Ringer REMINDER: Remember to be checking my website (not Moodle ) if you were absent or didn’t get work done the day before. AGENDA : 11:30 – 11:45: Bell Ringer 11:45 – 12:15: Financial Planning Notes 12: 15 – 12:20: Break

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  1. Please… • Log into Moodle and complete today’s Bell Ringer REMINDER:Remember to be checking my website (not Moodle) if you were absent or didn’t get work done the day before AGENDA: 11:30 – 11:45: Bell Ringer 11:45 – 12:15: Financial Planning Notes 12: 15 – 12:20: Break 12:20-1:00: Money Skills Modules; Education Unit Recycle Tests OUTCOMES: Write 3 SMART Goals

  2. Financial Planning Notes Please download these notes from Moodle

  3. Financial Planning If you won $1,000.00 in a contest, how would you spend that money??

  4. Financial Planning 1. What is a financial planning? A process of setting goals, developing a plan to achieve them, and putting the plan into action. Financial Planning can have a big impact on the quality of your life - today, tomorrow, and the days after tomorrow.

  5. Financial Planning Step 1: Set SMART Goals. Goals – something you aim for S - Specific - detailed M - Measurable - amount of time A - Attainable - reasonable and achievable R - Realistic - actually can happen T - Time Bound - schedule, time frame Examples: Save $25 by the 10th of next month to buy mom a birthday gift. Save $10 a week for the next six months to buy a dress for prom. Save $2,000 from a summer job for the next three years for a down payment on a car.

  6. Financial Planning Step 2: Analyze Information Take a look at where your finances currently stand. Determine your income and expenses which have a direct impact on your ability to achieve your financial goals.

  7. Financial Planning Step 3: Create a Plan Analyze the situation and make the best decision you can. Not all decisions are easy – many things affect your decisions: mood, values, culture, habits, opinions. Six step decision making process:

  8. Financial Planning Step 4: Implement the Plan Knowing what you should do and actually doing it can be challenging. Tips for staying on track: Find someone to encourage you Share the goal with others Talk about your plan Leave flexibility in your plan

  9. Financial Planning Step 5: Monitor and Modify the Plan Review your plan whenever you have significant changes in your life. Ask yourself Are my goals still worth achieving? Is there a new goal to add to my list? Any existing goals to drop or change?

  10. Assignment • Please open your financial goal assignment back up • Choose one goal from each of the 3 sections to rewrite into a SMART goal • Add the SMART goal underneath the already written goal (change the text color to red so I know which one it is) • UPLOAD when you finish • UPLOAD your notes also

  11. For the Remainder of Class • Click on and read the directions for the Modules on MoneySkills

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