budgeting presentation - 2/2/2011 1 Financial Planning: It...

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Unformatted text preview: 2/2/2011 1 Financial Planning: It Starts With a Budget HACE 3110 Dr. Brenda Cude Managing Your Money Requires Three Things Money Salary and wages Unearned income (from savings and investments savings and investments) Tools for management A record of how you HAVE spent money A plan for spending/saving in the future a budget You A manager Forget What You Know About Millionaires Fewer than 20% inherited 10% or more of their They rarely drive the current model year car and rarely lease h i wealth. More than half never received as much as $1 in inheritance. their car. On average, they invest nearly _____% of household annual income. 2/2/2011 2 How Much Money a Year Do You Need To Be Happy? Most Americans (85%) are happy regardless of their annual income. Below a certain income people feel more stressed and are less satisfied with the way stressed and are less satisfied with the way their life is going. 450,000 Americans said that income was Tools for Management A record of how much you HAVE spent Tracking Your Spending Gives you a basis for setting up a plan for the future Either to continue behaviors or change them Can track your spending by Can track your spending by Writing it down Keeping receipts Using check and credit and debit card records Using online management tools (i.e., Mint.com) Tracking Your Spending Track spending for at least one week (usually recommend two) Tools for Management A budget A plan for spending (and saving) in the future Spending on paper, on purpose, before the month begins Dave Ramsey Can be as simple as writing all of your income at the...
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This note was uploaded on 09/30/2011 for the course HACE 3110 taught by Professor Cude during the Fall '11 term at University of Georgia Athens.

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budgeting presentation - 2/2/2011 1 Financial Planning: It...

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