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
![Page 1: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/1.jpg)
Module 4Personal Money Management
![Page 2: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/2.jpg)
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
![Page 3: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/3.jpg)
How good are you with money?
![Page 4: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/4.jpg)
Why young people need to become better money managers video
http://www.youtube.com/watch?v=JOt3Apl7qBA
![Page 5: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/5.jpg)
Income
Gross
Net
Payslips
Tax
![Page 6: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/6.jpg)
Expenditure
Now that you have worked out what money you have coming in it is time to start thinking about your outgoings.
![Page 7: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/7.jpg)
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?
![Page 8: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/8.jpg)
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.
![Page 9: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/9.jpg)
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
![Page 10: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/10.jpg)
Financial Goal Setting
![Page 11: Module 4 Personal Money Management](https://reader031.vdocuments.mx/reader031/viewer/2022020921/5681613c550346895dd09f3f/html5/thumbnails/11.jpg)
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