Notebook Entry: Suze Orman Video

Main Ideas and Points from Suze Orman's Young, Fabulous, and Broke video.

Buying A Car - notebook entry

This was an in-class assignment from the textbook. Take Cornell Notes on pages 520-521 and answer the 2 questions at the bottom of page 521.

Budget Unit Reflection

Use your own writing style to reflect on how important budgeting and being financially responsible is. This can be in the form of a fictional story, non-fiction report, poetry, or however you can show your talents, while expressing your thorough understanding of the content we covered.
DUE DATE: Same day as our final exam - Friday, 1-24-14.

Creating a Budget-Class Notes

Video Notes – Creating a Budget

Review Your Monthly Outflow

• Monthly Expenses
• Payments Toward Debt
• Use a Budget Worksheet

Calculate Your Income

·         Total Monthly Earnings

·         Include Usual Income

Create Your Budget

·         Subtract Your Expenses from Your Income

·         Evaluate the Results

·         Double-Check Your Math

·         Include Monthly Debt Payoff Amounts

Readjust Your Budget As Needed

·         Make Sure End Figure Is Reasonable (Do you have a positive number?)

·         Re-evaluate your priorities, if the end figure is not reasonable

Always Have Financial Goals

• Budget with the future in mind
• Track your progress on debt reduction and savings plan
• Pay into your savings first. You should always have a cushion, in case of emergencies or unexpected expenses

Use your budget

• Collect your receipts and track your spending for a month to create a plan for your budget
• Start using your budget
• Have self-discipline and motivation (I use a chart that constantly shows my progress toward my goals)

Appraise your budget

• Look at the results and your goal progress after a month and at 3 to 6 month periods
• Was it realistic? Did you make progress?
• Do you need to rethink your priorities?
• Re-evaluate, as needed (situations change, goals and dreams change)

Living on your own discussion notes

LIVING ON YOUR OWN

Benefits  /Downsides                        

Freedom/making decisions can be scary

Being away from your family/homesick

Independence/no one to keep you on track

Privacy/feel isolated

Pride/uncertainty and fear

Make your own rules/making stupid choices

No curfew/lack of sleep, could lead to trouble at school or work

Buying whatever you want/you have all the financial responsibility, reckless spending

No one can tell you no/reckless behavior, stupid decisions, irresponsible

Get your own tax refund/you have to pay more taxes and to file your own return

Jan 15th Final Review

Final Review- https://docs.google.com/file/d/0B_gpVfHfuRG2NzRiSzRkUFJfekE/edit