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Financial Literacy: Budgeting Workshop
Transcript of Financial Literacy: Budgeting Workshop
Getting to know your facilitator...
AmeriCorps Student Support Specialist
Think about and learn how to create financial goals.
Learn how to create a personal budget and stick to it.
Learn about how to save on everyday expenses.
Learn about resources available for additional support.
Why Do We Budget?
To Set and Reach Financial Goals
To Spend According to Your Priorities
To Build Wealth
To Plan for Retirement/the Future
To Build an Emergency Fund
For Peace of Mind
Financial Literacy: Financial Goals & Budgeting
Setting S.M.A.R.T. Financial Goals
Step 1: Know Your Net Income
Step 2: Identify Fixed Expenses
What are your goals?
Net Income is the pay that you take home after all of the deductions (taxes) have been taken away.
Calculate your Net Income at
Items that are paid regularly at the same price...what are some examples from your own life?
Step 3: Identify Variable Expenses
What are items that vary in cost and/or frequency in your life?
Clearpoint Free Financial Counseling- Northgate
Overview of Objectives
Introduction to Managing Your Money
6 Steps of Budgeting
Creating a Budget
Managing Your Money
Making a Plan
Step 4: Prioritize
Steps 5&6: Follow Your Spending, Review Monthly, and Keep Track
Thinking about goals and budgeting
Let's introduce ourselves...
Goal for this workshop
Topics you are interested in regarding Budgeting
Using the handout, write 1 short term and 1 long term SMART goal.
How can you save money on fixed expenses?
Are all of these necessary? How can you save money on variable costs?
What is your "bare bones budget"?
How will your budget reflect your financial goals?
For all purchases made with a credit or debit card, sign in and view your online payment history
For cash purchases, keep a jar of receipts and write which category the expense falls under, ex.groceries, entertainment..etc.
If you like apps, download a budgeting app on your phone or create a free account online.
Other options are...
Using a notebook
Break!! (10 min)
When managing your money, where is a good place to start?
What are the 6 Steps to setting up a budget?
What is the difference between a fixed expense and a variable expense?
What have we learned so far?
Let's start looking at your goals and budget.
Before we start, remember to keep it simple.
Focus on what is most important to you, and be realistic with your expectations.
Budgeting isn't just an activity, it is a behavior change.
My Action Plan Worksheet
Take Home Worksheet
End Goal: To get expenses less than or equal to your Net Income