Day 18

Learning 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. 
  • Develop a filing system for keeping financial records, both paper and electronic.
  • Describe record keeping features that financial institutions provide for online account management. 
  • Describe how to use different payment methods and banking features.
  • Define zero-based budget.
  • Develop a plan for spending and saving that has both long-term and short-term components.
  • Analyze how changes in circumstances can affect a personal budget. 

Assignment 3.S.1

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

Assignment 3.S.2

  1. Review Real Wealth Building Begins With Your Behavior in Section 1.  
  2. Make a copy of this Google Document, rename it Wealth-Building Habits-(Your Initials), and move the file into your Chapter 3 folder.
  3. Fill in the graphic organizer with the seven wealth-building habits.

Assignment 3.S.3

  1. Utilize this review to assess your learning from Chapter 3.  You have as many attempts as you need to get as good of a score as you can.  You are free to use your Chapter 3 Textbook when going through this review.

Assignment 3.S.4

  1. Make a copy of this document.  
  2. Rename the document Short Answer 3-(Your Initials).
  3. Move the Short Answer 3-(Your Initials) into your Chapter 3 folder.
  4. Use your Chapter 3 Textbook to help answer your questions.
  5. Answer the questions in complete sentences.

Assignment 3.S.5

  1. Make a copy of this document.
  2. Name the document Case Studies 3-(Your Name) and move it into your Chapter 3 folder.
  3. Read THREE of the cases and write a possible resolution to the problems presented. Remember to apply the personal finance knowledge and principles you have learned in this chapter.