Day 19

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.R.1

  1. Make a copy of this Google Document, rename it Calculating Your Net Worth-(Your Initials), and move it into your Chapter 3 folder.
  2. Then complete the task using the directions and information in the document.

Assignment 3.R.2

  1. Make a copy of this Google Document, rename it Ask Dave 3-(Your Initials), and move it into your Chapter 3 folder.  Complete the document as directed within it.

Assignment 3.R.3

  1. Make a copy of this Google Document,  rename it Characteristics of FSP-(Your Initials), and move it into your Chapter 3 folder.
  2. Use the internet to research each type of financial institution to find out what they are and what services they offer.
  3. Use your research to complete the table in the document.

Chapter 3 Folder

  1. Your Chapter 3 folder will be turned in tomorrow.  Your folder should contain the following files:
    • Personal Finance Journal-C3
    • Checkbook Management
    • Balance Checkbook
    • Types of Expenses
    • Family Reality
    • Student Budget
    • Wealth-Building Habits
    • Short Answer 3
    • Case Studies 3
    • Calculating Your Net Worth
    • Ask Dave 3
    • Characteristics of FSP