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a. Prepare a budget...
Track it for 13 CONSECUTIVE weeks!
b. Compare expected income with expected expenses
1. If expenses exceed income, determine steps to balance your budget.
2. If income exceeds expenses, state how you will use the excess money (new goal, savings, etc.)
c. Explain buyers remorse...How do you feel when you buy something new? How do you feel 3 months later?
d. How does hunger affect you when shopping for food?
g. Charitable giving. Purpose? Thoughts?
#3 f. What happens when you put money into a savings account?
#3 h. What can you do to better manage your money?
b. How does the amount of money you have with you affect your spending habits?
6e. US Savings Bond
An investment in the US Government
Advantages
No risk of loss
Exchange for cash anytime
Disadvantages
Low interest rate
6b. Mutual Funds
Investment that is a
collection of individual stocks
Advantages
Some Personal Choice
Balanced Risk
Professional Management
Disadvantages
Risk of loss
Investment Fees
What are some examples of time wasters?
How can you be sure to accomplish what you set out to do?
Investing is saving money with the purpose of making more money.
#4 b. Explain the concepts of return on investment (ROI) & Risk...
#4 a. What's the difference between Saving & Investing?
Why save?
Why invest?
6c. Life Insurance
Payments to a company with the agreement that they will pay your family a certain amount of money at your death
Advantages
No risk of loss
Helps family after you die
Disadvantages
No income while alive
No getting money back if you cancel before your death
6a. STOCK
The investment in a business
Advantages:
If the business makes money, you make money
Greater earnings potential
Personal choice
Can buy or sell anytime
Disadvantages:
Can lose all of your original investment
You must research and watch closely
Prepare a written project plan
Plan a project on “paper”
(not completing a real-life project)
6d. Certificates of Deposit
An investment at a bank for defined time at a guaranteed interest rate
Advantages
Guaranteed income
No risk of loss
Disadvantages
Money held to maturity
Low interest rate
4c. Compound interest is investing a set amount of money and interest earned is added to the original investment to earn even more interest.
4c. Simple Interest is investing a set amount of money and the interest earned does not increase the base original investment.
No interest or growth is like keeping your money in a piggy bank.
a. What a loan is;
What interest is;
How the annual percentage rate (APR) measures the true cost of a loan
a. How do you feel when you receive money?
a. Choose an item that your family might want to purchase that is considered a major expense.
b. How would your family save money for the purchase
c. Develop a written shopping strategy
#4 c. Explain the concepts of simple interest and compound interest, how do these affect the results of invesments?