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Your Financial Future Level 2

Your Financial Future Level 2. UK Edition. September 2011. Activity 1: The Importance of Financial Planning. Financial security is when you know that you can make, save, and invest enough money to achieve your goals. A goal is something you want to make happen in the future.

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Your Financial Future Level 2

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  1. Your Financial FutureLevel 2 UK Edition September 2011

  2. Activity 1: The Importance of Financial Planning • Financial security is when you know that you can make, save, and invest enough money to achieve your goals. • A goal is something you want to make happen in the future. • A short-term goal is one you hope to achieve within the next year. • A mid-range goal is one you expect to accomplish within the next one to five years. • A long-term goal is one that will take five years or more to reach. • A financial plan is a “road map” that shows a person’s current financial situation, that is, how much money they have saved up, their monthly expenses, and so on. It also identifies his or her financial goals and suggests ways of achieving those goals. Bank of America Merrill Lynch

  3. Activity 1: The Importance of Financial Planning To achieve financial security, you must create a plan to do so. A financial plan is a “roadmap” that shows your current financial situation, identifies your financial goals, and suggests ways for you to achieve those goals. STUDY + WORK + SAVING + INVESTING = FINANCIAL SECURITY Bank of America Merrill Lynch

  4. Activity 1: The Importance of Financial Planning • Complete the Goal Setting worksheet. This should take approximately 20 minutes. • I will ask for volunteers to read their plans to the class. Bank of America Merrill Lynch

  5. Activity 1: The Importance of Financial Planning • Review: • What were some of your immediate (short-term) goals? • Where do you see yourself in the next 5 years? • Can you imagine what you will achieve (not just acquire) by the time you are an adult? ? Bank of America Merrill Lynch

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