A money mindset - joy comes from putting dollars away for future use:
What is a Saver
A money mindset - lives for the thrill of the purchase:
What is a Spender
A money mindset - pushes any thought of money out of his or her mind:
What is an Avoider
A money mindset - constantly stews about purchases and possible financial emergencies:
What is a Worrier
A money mindset - satisfaction comes from buying for others first:
What is a Giver
How would you classify the following expenses:
Vacation • Entertainment (going out to the movies, Netflix subscription, books, games, etc.) • Gym membership • Dining out • A new outfit or gadget • A cell phone with the largest data plan
What is a Want
How would you classify the following expenses:
Housing • Food • Insurance (health, life, auto, rental, home, etc.) • Childcare, if applicable • Basic utilities • Transportation (train/bus tickets, car payments, etc.) • Phone • Loan payments, including the minimum payments on any credit cards
What is a Need
What rule helps you to organize your spending when you received your income?
What is the 50/20/30 rule
Cite 2 tips to help you save when you go shopping:
Make choices on what you NEED first
Set a budget
Research products in advance
Make a shopping list
Ask yourself if you really need to buy it today
Should you overestimate or underestimate how much will cost your expenses ? Why?
Overestimate. If you have higher expenses than expected, you will have enough left to pay them.
What method helps you to decide what to buy in priority?
What is the PACED Decision-Making Method
What will most likely be your most expensive monthly expense as an adult?
What is Rent
How often should you review your budget?
What is at least Monthly
A specific, achievable objective to be completed in the near future
What is a Short Term Goal
Situation in which there is not enough money to cover expenses.
What is budget deficit