Be Money $mart!...HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 2 Pre-Assessment...

Be Money $mart!

LIFT Core Training: Personal FinanceH O D G E S E D U C A T I O N F O U N D A T I O N

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 2

Pre-Assessment

INSTRUCTIONS:

1. www.pamlicoleaders.org

2. Click Student Portal, then Assessments & Surveys.

3. Find your course and click the

Pre-Assessment button.

4. Complete the form.

5. Click SUBMIT.

The difference between “needs” and

“wants”

The importance of saving money and tips to

build an Emergency Fund

How to create a personal financial budget

The benefits of good credit; tips to correctly

manage credit cards and other types of

debt

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What You Will Learn

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART

Do you relate the handling of your

personal finances to your dreams?

Do you have what it takes to make

your dreams come true?

Are you ready

for the real

world?

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Are You “Money $mart?”

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Needs vs. Wants

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART

Can you tell the difference?

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Designer shoes, handbag

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Total waste of money.

Make it a habit!

Emergency Fund ($1000)

Short- and Long-Term Goal Funds

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$aving Money

– Dave Ramsey

1. Sell something (or several somethings)

2. Save all “gift money”

3. Start your own small business

4. Get a second job

5. Stop eating out

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5 Tips to Build Your Fund

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART

1. Shop SMART!

2. Brown bag it!

3. Keep (healthy) snacks

in the car!

4. Ditch the cable TV*!

5. Get outdoors!

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5 Ways to $ave Every Day!

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Get up and move!!

Take control of your money…don’t let

your money control you!

Watch this awesome How-To video…

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Create a Budget!

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART

“How To Set Up a Budget

and Stick To It”

https://youtu.be/pN709oX9Bzk

1. Write down your total income.

2. List all your expenses.

3. Subtract expenses from income to

equal zero.

4. Track your expenses throughout the

month.

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Let’s Review the Steps…

– Dave Ramsey, How to Budget Using Simple, Zero-Based Budgeting

www.daveramsey.com

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART

ACTIVITY

Create a Budget!

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Situation

Life Event

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART

Track it monthly

Budget worksheets

New tracking apps like

WellSpent or Dave

Ramsey’s EveryDollar

Compare budget to

actuals

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Tracking Your Budget

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Get up and move!!

Credit is the ability to borrow money

Credit can give you financial options, flexibility, opportunities

Debt is an amount of money owed

Types: Student loan, car loan, home mortgage, credit cards

Cost depends on interest rate and how long you take to

repay

Your goal is to achieve

a good credit history

and BE DEBT FREE!

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Credit and Debt

1. Open your own bank accounts and manage

them well.

2. Avoid spending more than you have in your

bank accounts.

3. Talk to your bank about ways to start building a

history of making payments on time.

4. If you rent an apartment, put the lease and

utility bills in your name and always pay your

rent and bills on time.

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Steps to Establish Credit

—Handsonbanking.org

Good Habits vs. Bad

Want Good Credit?

Make your payments

ON TIME

Pay AT LEAST the

minimum required

payment

NEVER miss a payment

Stay within your credit

limit

Want Bad Credit?

Miss your payment due

dates

Pay too little

Miss payments

Go over your credit

limit

Have too much debt

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1. Have a plan for your money.* *budget!

2. Choose to live on a lower percentage of

your income.

3. Don’t fall for advertising

gimmicks.

4. Have boundaries on

your credit card usage.

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4 Tips for AVOIDING

Credit Card Debt

—Deacon Hayes, Tips for Avoiding Credit Card Debt in Your 20s

and 30s, www.clarkhoward.com/tips-for-avoiding-credit-card

When you

GIVE, you

will be

happier!

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Giving

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Giving Video

HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART

https://youtu.be/Tjnq5StX68g

Feel $marter?

www.pamlicoleaders.org

Visit the

LIFT website

to learn

more:

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H O D G E S E D U C A T I O N F O U N D A T I O NO r i e n t a l , N o r t h C a r o l i n a

Serving Pamlico County Youth Since 2004