Diving Into Spending Plans!
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 2Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Today We’ll Talk About
Spending Plan - What is it? Why use it? Income and Expense Bean Game
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 3Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Why do you think this happens? People do not make enough money People spend too much money
Almost half of all American families spend more money than they
make.
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 4Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Values, Needs, & Wants What is a value? Give an example.
A belief about what is important to a person What is a need? Give an example.
Something that is a necessity What is a want? Give an example.
Something that is not a necessity but is desired
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 5Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Spending Plan - What is it?
A spending plan is A tool to help people manage their money
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 6Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Spending Plan - Why use it?Why would you want to know where your
money is going?
Spending plans are used to help people Track where their money is going Identify income and expenses Meet financial goals
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 7Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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A Spending Plan Tracks…..
Income Money Earned
Expense Money Spent
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 8Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Game Time!
Income Expense
As each item is read, stand up and move to the appropriate
game card.
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 9Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Income or Expense?
Rent/House paymentPaycheckGroceriesInternet billWinning the lotteryUtilitiesPutting money into a
piggy bank
HobbiesCar repairsClothesBirthday moneyMP3 playerUsing savings to
buy a skateboard
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 10Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Spending Plan Contents Income
Expenses Housing Utilities Transportatio
n Savings
Expenses Food Insurance Clothing Other
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 11Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Lee’s Spending Plan Example
Income ExpensesItem Amount Item Amount
Mowing a lawn
$10.00 Movie ticket and popcorn
$15.00
Birthday gift
$15.00 Snack and drink
$5.00
Total $25.00 Total $20.00
Does Lee have enough income to pay his expenses?
If he would like to buy a new shirt for $15, does he have enough money?
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 12Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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In Conclusion A spending plan is
A tool to help people track their money A spending plan is based on
Values, wants, and needs A spending plan tracks
Income and expenses
The End!
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 14Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
1.2.41.G1
Your Turn! Spending Plan Shake-Up…
Budget your beans to pay for the things you need and want
Each square is worth one bean and all the squares must be filled to have that item
Budget as if you are a senior in high school
=
© Take Charge Today – Edited April 2007– Diving Into Spending Plans – Slide 15Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the
University of Arizona
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Spending Plan Shake-Up! Could you afford everything that you
needed? Could you afford everything that you
wanted?
How does Spending Plan Shake-Up relate to real life?
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