Day 14

Lesson Objectives

  • Understand the purpose of cash flow planning.
  • Identify reasons some people avoid having or sticking to a budget.
  • Identify changes in personal spending behavior that contribute to wealth building.
  • Explain the difference between a cash flow statement and a budget.

Assignment 3.I.1

  1. Inside of your Unit 1 folder, create a new folder titled Chapter 3.  Everything you complete for Chapter 3 will be stored within this folder.

Assignment 3.I.2

  1. Read each of these statements and mark whether you agree or disagree.

Assignment 3.1.1

  1. Watch Video 1.1
  2. As you watch the video, record the missing words from page 52 of the Chapter 3 Textbook as they pop up on the left side of the video screen by filling in this form.  (page 52) .
  3. Discussion Questions:
    1. In what ways is money active?
    2. Why is it important to have a cash flow plan?
  4. Watch Video 1.2
  5. As you watch the video, record the missing words from pages 53-54 of the Chapter 3 Textbook as they pop up on the left side of the video screen by filling in this form.  (pages 53-54).
  6. Discussion Questions:
    1. Why do some people avoid writing or following budgets?

Assignment 3.1.2

  1. Make a copy of this Google Sheet, rename it Checkbook Management-(Your Initials), and move it into your Chapter 3 folder.  Then utilize the instructions within and your textbook to complete it.
  2. Use the response you entered into your Checkbook Management spreadsheet to complete this audit.

Assignment 3.1.3

  1. Make a copy of this Google Document.
  2. Rename the file to Personal Finance Journal-C3-(Your Initials).
  3. Move this file into your Chapter 3 folder in your Google Drive.
  4. Fill out the first three rows of the table.