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Family Budget ReviewDescribe The Following…
Fixed VS Flexible ExpensesDifferences
Problems you facedFamily Issues? Money Issues?
Etc.Things that surprised you
Cost of things
FixedRentUtilitiesCar Payments
FlexibleGroceriesAllowanceCable
Problems you faced…
MoneySaving - PAY YOURSELF
FIRSTNot enough for Fixed?Not enough for Flexible ?Too much money?
Family issuesWere they related to money?
Surprises
CostsHigherLower
Unexpected Expenses
Interest
Interest
The fee charged by a lender to a borrower for the use of borrowed money
Examples…
Interest Rate
Percent charged or paid for the use of money
Examples…
Types of Interest
Simple InterestI = P x r x t
Compound Interest A(t) = A0 x (1 + r/n)n x t
Mutual Funds
A professionally managed type of collective investment that combines money from many investors to buy stocks, bonds, securities etcPros-Manager, split costs, low
risk Cons-Manager, low risk-low
reward