The Skill of Managing Personal Finances

Course Description:

For many people, finances are an unsolvable Rubik’s cube filled with anxiety. There are millions of Americans who live with the shackles of debt each day. We don’t teach children when they are young the value of a good credit score. Many people have a hard time formatting and sticking to a budget. You can easily solve the finance puzzle with a little hard work, self-control, and the right tools. Today is a new day; you are taking the first steps to reclaiming your financial freedom.

Research has consistently demonstrated that when clear goals are associated with learning that the learning occurs more easily and rapidly. By the end of this course, you will be able to:

  • Understand your personal expenses
  • Know the benefits of making a budget
  • Set financial goals
  • Develop good spending habits
  • Learn how to pay off debt
  • Learn how to effectively make a budget

The Benefits of Budgeting

  • Getting Rid of Debt
  • Generating Savings
  • Reducing Stress and Anxiety
  • Lessening Family Conflicts
  • Case Study
  • Assessment

Recognizing Symptoms in Others

  • Understand Your Income
  • Determine a Budget Duration
  • Determine Expenses
  • Track What’s Being Spent
  • Case Study
  • Assessment

Types of Fixed Personal Expenses

  • Utility Bills
  • Housing Bills
  • Transportation
  • Debt Payments
  • Case Study
  • Assessment

Types of Fluctuating Personal Expenses

  • Personal Care
  • Non-Fixed Transportation Costs
  • Entertainment
  • Eating Out
  • Case Study
  • Assessment

Establish Your Goals

  • Short Term vs Long Term
  • Be Realistic
  • Actually Get Rid of Debt
  • Save for the Future
  • Case Study
  • Assessment

Determine Where Cuts Can Be Made

  • Cut Bad Habits
  • Decrease Transportation Costs
  • Reduce Utility Bills
  • Decrease Entertainment Expenses
  • Case Study
  • Assessment

Tools

  • Software
  • Phone Applications
  • The Envelope System
  • Expenditure Notebook
  • Case Study
  • Assessment

Stick With Your Budget

  • Use Cash for Weekly Allowance
  • Accountability to Family or Friends
  • Set Up a Different Account for Savings
  • Remind Self of Benefit to Sticking with Budget
  • Case Study
  • Assessment

Additional Ways to Make Money

  • Make and Sell Items
  • Sell Unused Items
  • Small Part-Time Job
  • Recycle for Money
  • Case Study
  • Assessment
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