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Instructor: Cedric Steele Welcome SDV 100 Time Management/Personal Finances

Time Managment & Finances

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Page 1: Time Managment & Finances

Instructor: Cedric Steele

Welcome

SDV 100

Time Management/Personal Finances

Page 2: Time Managment & Finances

How do you manage your time?

Complete the Weekly Schedule to the best of your ability

reflecting a typical week-perhaps last week…

Page 4: Time Managment & Finances

Answer the following…

• In which quadrant did you spend most of your time this week?

• What kind of activities consumed most of your time?

• If you continue spending your time in this way, will you accomplish your goals-Why or Why Not?

• How can you fit more proactive planning and self-care activities (Quadrant 2) in your schedule?

• What is one small, but significant change that you can make in how you are scheduling your time that could help you to progress toward accomplishing one of your priorities-(a big rock)/

Page 5: Time Managment & Finances

Are you GUILTY?

Take the Procrastination Quiz…

Page 6: Time Managment & Finances

Some Suggestions…

• Set realistic goals.

• Don't try to do too much and don't try to do everything

perfectly.

• Do school work when your energy level is at its highest.

• Work for realistic periods of time.

• Mix activities.

• Create an effective place to do your school work.

• Use your free time wisely.

• Schedule time for yourself.

• Reward yourself when you have finished tasks on time.

Page 7: Time Managment & Finances

Personal Financing

• Dave Ramsey & The Seven Baby Steps

1. 1,000 in the Emergency Fund

• An emergency fund is for those unexpected events in

life that you can’t plan for: the loss of a job, an

unexpected pregnancy, a faulty car transmission, and

the list goes on and on. It’s not a matter of if these

events will happen; it’s simply a matter of when they

will happen

2. Pay-Off your debts using Debt Snowball

• List your debts, excluding the house, in order. The

smallest balance should be your number one priority.

Don’t worry about interest rates unless two debts have

similar payoffs. If that’s the case, then list the higher

interest rate debt first

Page 8: Time Managment & Finances

Personal Financing Continued…

3. 3-6 months of expenses in savings account

• Once you complete the first two baby steps, you will

have built serious momentum. But don’t start throwing all

your “extra” money into investments quite yet. It’s time to

build your full emergency fund.

4. Invest 15% of household income into Roth IRA’s and

pre-tax retirement

• When you reach this step, you’ll have no payments—

except the house—and a fully funded emergency fund.

Now it’s time to get serious about building wealth.

5. College funding for children

• By this point, you should have already started Baby Step

4—investing 15% of your income—before saving for

college. Whether you are saving for you or your child to

go to college, you need to start now.

Page 9: Time Managment & Finances

Personal Financing Continued

6. Pay off house early

• Now it’s time to begin chunking all of your extra money

toward the mortgage. You are getting closer to realizing

the dream of a life with no house payments

7. Build Wealth and Give

• It’s time to build wealth and give like never before. Leave

an inheritance for future generations, and bless others

now with your excess. It's really the only way to live!

To learn more and get free resources visit:

www.daveramsey.com

Page 10: Time Managment & Finances

Best Advice for College Students….

One thing you want to be sure to do in college is to avoid credit cards. They are going to be tempting you at every corner. And of course, you need to learn how to operate, balance, and reconcile a checkbook.

You also need to learn how to do a zero-based budget where you look at what you are going to spend every month. For example, you are given by your parents, $200 a month for expenses, but you need to provide a written plan showing exactly what you are going to do with it before each month begins.

For information/advice on college financing options and loan repayments visit the financial aid office and or www.aessuccess.org

Page 11: Time Managment & Finances

Discussion

•What did you notice about the concepts we chose to have

our pipe cleaners represent?

•What if this group was filled with people from very diverse

backgrounds?

•What are the chances that many of

these same concepts would surface?