module 4 personal money management
DESCRIPTION
Module 4 Personal Money Management. Learning Outcomes. 4.1 Explored attitude towards money 4.2 Identified sources of income 4.3 Identified expenditure 4.4 Identified how to budget effectively 4.5 Researched credit and debt 4.6 Explored financial goal setting. - PowerPoint PPT PresentationTRANSCRIPT
Learning Outcomes
4.1 Explored attitude towards money
4.2 Identified sources of income
4.3 Identified expenditure
4.4 Identified how to budget effectively
4.5 Researched credit and debt
4.6 Explored financial goal setting
Why young people need to become better money managers video
http://www.youtube.com/watch?v=JOt3Apl7qBA
Expenditure
Now that you
have worked out
what money you
have coming in it
is time to start
thinking about
your outgoings.
Essential and Non-essential Spending
Some spending is
essential. This includes
the basics such as food,
fuel bills, rent or other
housing costs.
Can you work out your
non-essential spending?
Budgeting
Steps in managing money
include identifying the
amount of income available
and the expenses that need
to be covered, and prioritising
short and long term goals.
Individuals, households,
government, businesses, and
other organizations all budget
with these ideas in mind.
Credit and Debt
Almost everyone borrows
money at some time.
Borrowing can be a real
help in managing household
income. It can help to deal
with emergencies or
unexpected events.
Borrowing can however, be
a risk, particularly for people
on low incomes