Life is a journey. . .

1. Life is a journey. . . If you think you can make the trip without a plan, you are in for a bumpy ride.

2. What is a plan? • A plan is • A method or process worked out in advance that leads to the achievement of some goal. • Systematic • Flexible • How much planningdo you do?

3. The Planning Process • Set a goal. • A goal is something you want to achieve or obtain. • Living in the present moment is not a goal. • Why is it important to plan for long-term goals? • Is it important to plan for short-term goals?

4. The Planning Process • Acquire knowledge • Figure out what it takes to achieve your goal. • How do you acquire knowledge about your goal?

5. The Planning Process • Compare alternatives • Analyze the pluses and minuses of each. • What methods have you used to compare 2 things?

6. The Planning Process • Choose a strategy • Make a commitment • Keep your eyes on the prize. • Keep flexible • Evaluate your progress. • Deal with set backs and opportunities.

7. Flowchart • Use Word shapes or Smart Art to create a flowchart of the 6 steps in the planning process for either your Cosmos 3-5 year goal or 7-10 year goal. • Make sure you identify each of the 6 steps. • You must have at least 2 alternatives with at least 1 plus and 1 minus for each. • Your flowchart must fit on a standard sheet of paper (8.5” x 11”) in either portrait or landscape orientation. • Key your name and the date in the header. • Print your flowchart and submit it.

9. Plan for your life • Career • Self • Lifestyle • Relationships • Finances • On a piece of paper, for each aspect of your life above, identify a short-term goal (that could be completed this semester). Then identify at least 1 action you might take to achieve this goal. • Finances Example:Short-term goal = Money to go to the beach this summer Action = Look in newspaper for part-time job

10. Be a Planner vs. Be Impulsive • Describe someone who is a complete planner and someone who is completely impulsive. • What are the advantages and disadvantages of each extreme? • How would you describe the balance between spontaneity and planning in your life? Would you like to shift the balance? How?

11. Financial planning . . . Begins with a career strategy.

12. How do you choose a career? • What things should you consider when choosing a career? • At what age should you begin making career decisions? • What resources are available to you to help you make career decisions?

13. What are employers looking for?

14. Job Facts – Fact 1 Unskilled Skilled & Technical Professional

15. Job Facts – Fact 2 • The salary gap between low-skill and high-skill jobs is growing wider.

16. Job Facts – Fact 3 Education pays.

17. Job Facts – Fact 4 • Jobs are less stable and secure than they used to be. • Why? • How many different full-time jobs are you likely to have in your lifetime?

18. Job Facts – Fact 5 • The fastest growing group of workers in America is people who are working out of their homes. • Why?

19. A Career Dilemma . . . Do not hire a man who does your work for money, but him who does it for love of it. Henry David Thoreau • Success isn't measured by money or power or social rank. Success is measured by your discipline and inner peace. Mike Ditka • Money won't make you happy... but everybody wants to find out for themselves. ZigZiglar • People say that money is not the key to happiness, but I always figured if you have enough money, you can have a key made. Joan Rivers

20. Money vs. Happiness • Raise your hand if: • You have a part-time job. • Your part-time job is in a career field of interest. • You have a part-time job primarily for the money. • The majority of your earnings go to current expenses e.g., car insurance, clothing, entertainment • You save some of your earnings. • You invest some of your earnings.

21. Money vs. Happiness • A good job is an important part of personal financial planning. But a good financial plan supported by a saving and investment strategy can also make it possible for you to do work you enjoy.

22. Planning for College • How are you going to pay for college? • Grants and scholarships • Educational loans • Work aid • Military • Employer

23. Many people are on a treadmill . . . They work and earn and spend their whole lives, but they never seem to get ahead.

24. The average 50-year-old in this country has a total life savings of about $2,300. • Why?!?

25. The Budgeting Process • Track income and expenses. • A budget must be realistic to work. • If you try to start a budget without knowing the amount of money currently coming in and going out, your budget is doomed from the start.

26. Daily Spending/Earning Record Analysis Analyze your Daily Spending/Earning Record according to the instructions on the handout.

27. Manage your moneybetter . . . And make it go further.

28. Use credit wisely • What types of credit are available? • In what situations/For what types of purchases would it be wise to use credit? • In what situations/Forwhat types of purchasesshould you avoid usingcredit?

29. Do without • Think about your spending/earning record analysis. How hard will it be for you to give up something on which you are spending money in order to save money for a short-term goal?

30. Buy intelligently • Identify tips for getting the most for your money on the things that you buy on a regular basis. • Identify tips for getting the most for your money on major purchases.

31. Self provide • Self-providing = providing in a direct hands-on way for your needs and the needs of your family. • Do-It-Yourself • Describe do-it-yourself activities in which you or people you know are involved.