Slide 1: Needs, Wants and Budgeting
Needs, Wants and Budgeting Insert instructor's name here. Title Date Personal Finance for Individuals with Diverse Abilities Page 1 Our Program and training materials contain information, names, images, pictures, logos, icons, documents and other material (the “Content”) for the use and information
Slide 2: What We’ll Learn Today
What We’ll Learn Today What needs and wants are in a budget Making trade -offs in a budget, including what’s important and what’s unexpected How to plan to spend a portion of your income on wants How to make your own budget Personal Finance for Individuals with Diverse Abilities Needs Wants and Budg
Slide 3: Leslie’s Story
Leslie’s Story • Leslie works in a grocery store with the help of a job coach. • Although her pay is pretty good, she doesn’t have money for some of the things she wants. • While doing a budget, Leslie finds out she’s spending too much on her phone plan. • By creating a better budget, she can now bu
Slide 4: Budgeting Game Procedures – Round 1
Budgeting Game Procedures – Round 1 • Break into pairs. • Make decisions together to decide how to spend your income. • Spend all 20 paperclips by placing them in category squares. • You must select an item in each NEED box. You can then select items in WANT boxes with remaining paperclips. Personal
Slide 5: Budgeting Game Tips
Budgeting Game Tips A NEED is necessary to stay alive. Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 5
Slide 6: Budgeting Game Tips
Budgeting Game Tips A WANT makes your life better. Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 6
Slide 7: Budgeting Game Tips
Budgeting Game Tips Budget NEEDS first. Smartphone tip: Is a fancy phone a need or a want? What do you think? Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 7
Slide 8: Budgeting Game Tips
Budgeting Game Tips Make Saving Automatic! Save a portion of your paycheck by depositing money into an account for saving. Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 8
Slide 9: Budgeting Game Questions
Budgeting Game Questions • What is a value? • How do you think your values influenced your choices? • How did your group’s choices compare to the choices of other groups? Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 9
Slide 10: Budgeting Game Procedures – Round 2
Budgeting Game Procedures – Round 2 You are going to play the same game, with one change: Each pair now has only 16 paperclips to represent a pay cut from work! Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 10
Slide 11: More Budgeting Game Tips
More Budgeting Game Tips Remember: A NEED is necessary to stay alive. Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 11
Slide 12: More Budgeting Game Tips
More Budgeting Game Tips If cuts are necessary, cut back on WANTS . Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 12
Slide 13: More Budgeting Game Tips
More Budgeting Game Tips If you borrow money to buy something like a car or home, you must make payments every month. Never borrow more than you can pay back. If you lose your job or your pay is cut, it makes it harder to change your budget. Personal Finance for Individuals with Diverse Abilities Ne
Slide 14: Budgeting Game Question
Budgeting Game Question •What did you and your partner cut from the last round? How would it change your life? •Did you and your partner disagree about what to cut? How did you talk about it? •How could a lot of money in a savings account have helped after your pay cut? Personal Finance for Individu
Slide 15: Your Own Budget
Your Own Budget • Step 1: Add up your income. • Step 2: Circle the amounts for the things you will pay for, circle “$0” if you feel you cannot afford it. (For example: If you cannot afford to spend $25 at the movies, circle “$0.” • Step 3: Add up your expenses. • Step 4: Subtract the expenses from y
Slide 16: Your Own Budget
Your Own Budget Please raise your hand if you have any questions. Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 16
Slide 17: What we learned today
What we learned today What needs and wants are in a budget Making trade -offs in a budget, including what’s important and what’s unexpected How to plan to spend a portion of your income on wants How to make your own budget Personal Finance for Individuals with Diverse Abilities Needs Wants and Budge
Slide 18: Questions?
Questions? Learn personal finance skills right on your smartphone, tablet or computer. Visit the TD Bank Learning Center at https://tdbank.everfi -next.net/ and register to get started. TD Bank Learning Center Personal Finance for Individuals with Diverse Abilities Needs Wants and Budgeting Page 18