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Lesson 2 - Overview

Lesson 2 - Money Management Skills

 Objectives

Upon successful completion of this lesson, students will be able to:

  • LO2.1     Identify the main components of wise money management.
  • LO2.2     Create a personal balance sheet and cash flow statement.
  • LO2.3     Develop and implement a personal budget.
  • LO2.4     Connect money management activities with saving for personal financial goals.

 

Overview

“Each month, I have too many days and not enough money. If the month were only 20 days long, budgeting would be easy.”

Daily spending and saving decisions are at the center of your financial planning activities. You must coordinate these decisions with your needs, goals, and personal situation. Maintaining financial records and planning your spending are essential skills for successful personal financial management. The time and effort you devote to these activities will yield many benefits.  Money management refers to the day-to-day financial activities necessary to manage current personal economic resources while working toward long-term financial security.

 

Read:

Chapter 2 (LearnSmart)

 

View:

Chapter 2 Narrated Slides Links to an external site.

Download Chapter 2 PowerPoint

Chapter 2 Videos

Discuss:

Download PF Ch 2 Discussion Outline.docx

 

Helpful file(s) and information:

 

Submit:

Connect and LearnSmart

  • LearnSmart (estimated 45 minutes, but will vary by user)
  • Chapter 2 Homework (5 questions, wait until after math lesson in class)