Vocabulary
Task that you are required to do.
Responsibility
Develop financial ________-________ to manage money.
Self control
What is procrastination?
Putting off doing something until later.
What are two examples of what would be included in a transportation budget?
Gas
Public transportation
Car payment
Routine maintenance
What should you focus on first in you budget? Needs or Wants
Needs
Trying to accomplish too many things in a limited amount of time.
Over Scheduling
What is a balanced budget?
Income=expenses
What should you use to plan a schedule for each day?
To-do list
What should you begin with when creating a monthly budget? What comes next?
FIRST identify your income, THEN make room for giving and saving...THEN you cover your expenses.
What are the expenses that do not vary in amount? Give 1 example.
Fixed expenses
Rent, car payment, insurance
Keeping track of the tasks you need and want to accomplish and making sure you get them all done in a timely way.
Task Management
What two things must you examine to manage your money more effectively?
Goals
Priorities
Name two time traps.
procrastinating
over scheduling
What are 2 ways to persue a debt-free degree?
Apply for as many scholarships and grants as you can.
Choose an affordable state university that offers you the most financial aid.
Commit to working a part-time job when you’re not in class.
Live off campus or continue living at home with your parents while you go to school.
What are the expenses that vary and are less predictable? Give 1 example.
Flexible expenses
Water bill, electric bill, gas
A plan for spending and saving money.
Budget
What two things affect the way people manage money.
Personality
Attitude
What is the key to managing leisure time?
Finding a balance between relaxing and responsibilities.
What are the 4 walls of a budget?
Food
Utilities
Shelter
Transportation
What year did Mrs. Vines graduate high school?
1992/1993
Overlap tasks to save time.
Dovetailing
Name 3 of the four things that the notes say on what managing your money allows you to do.
Live within your means
meet goals to purchase special items
prepare for financial emergencies
Gain and maintain a sense of financial peace
Name 4 of the 6 time-tested strategies in using your time wisely.
preparation
organization
allowing enough time
dovetailing activities
being realistic
being flexible
What are the 7 baby steps?
Rango and Merlin