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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
3
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?
4
Are You “Money $mart?”
5
Needs vs. Wants
HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART
Can you tell the difference?
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HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 7
Designer shoes, handbag
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HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 14
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Total waste of money.
Make it a habit!
Emergency Fund ($1000)
Short- and Long-Term Goal Funds
22
$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
23
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!
24
5 Ways to $ave Every Day!
HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART
HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 25
Get up and move!!
Take control of your money…don’t let
your money control you!
Watch this awesome How-To video…
26
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.
27
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!
28
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
HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 30
Tracking Your Budget
HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 31
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!
32
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.
HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 33
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
HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART 34
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.
35
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!
36
Giving
HODGES EDUCATION FOUNDATION LIFT CORE: BE MONEY SMART
37
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:
38
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