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Financial Decisions

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© Take Charge Today – August 2013 – Financial Decisions – Slide 2Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

What contributes to the decisions you make?

_______

________

________

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© Take Charge Today – August 2013 – Financial Decisions – Slide 3Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

What is a Value?

Value - a fundamental _______ or practice about what is desirable, worthwhile, and

important to an _____________

What do you value?

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© Take Charge Today – August 2013 – Financial Decisions – Slide 4Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Everyone has different values

Family

Financial Security

?

_________

Helping others

_______

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© Take Charge Today – August 2013 – Financial Decisions – Slide 5Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

What influences your values?

FamilyFriends/

Peers _________

_________ Media ?

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© Take Charge Today – August 2013 – Financial Decisions – Slide 6Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Needs and Wants

Needs – goods or services that are _________

for survival

Wants– the desire for goods and

services that can increase our

________ of life but are not absolutely necessary for our

survival

Perception of needs versus wants is dependent on personal __________

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© Take Charge Today – August 2013 – Financial Decisions – Slide 7Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Why do needs and wants matter?

Will help you decide what to spend and not spend your money on

Trade-off - _________ up one thing for

another

Opportunity cost – the ________ of

the next best alternative that

must be forgone as a result of a

decision

Use trade-offs and opportunity costs to help you

make these decisions

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© Take Charge Today – August 2013 – Financial Decisions – Slide 8Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Making Financial Decisions

Analyzing _____________

and ______________

will help you make decisions

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© Take Charge Today – August 2013 – Financial Decisions – Slide 9Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Why is it important to understand what influences your decisions?

Understanding what __________

your financial decisions

Decisions that create _____

well-being

Well-being - Feeling good about one’s _________

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© Take Charge Today – August 2013 – Financial Decisions – Slide 10Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

What are three things you did today that involved money in some way?

• ________ plays a large role in life – affects well-being

• Money can create both _________ and negative feelings

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© Take Charge Today – August 2013 – Financial Decisions – Slide 11Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

What is the first word you think of when you hear the word “money?”

This course will help you learn how to _________ your money

positively

Help create ________ feelings about money

High __________

________

Do these words prompt positive and/or negative feelings?

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© Take Charge Today – August 2013 – Financial Decisions – Slide 12Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

What does the statement “your

present self impacts your future self” mean

to you?

What does the statement “you are

better off in a community than by

yourself” mean to you?

Themes of the course

You are ______________ for

yourself.

Your present self ____________ your

future self.

_______________ helps manage risk and allows you to cope with ________ and

uncertainty.

You are better off in a _______________ than

by yourself.

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© Take Charge Today – August 2013 – Financial Decisions – Slide 13Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

How do you _________ with money?

Earning – Did you know that working at a job isn’t the only way to earn money?

Receiving – Have you ever received a gift from a relative or friend?

Saving and Investing – Do you know the difference between saving and investing?

Spending – Did you know that spending involves a lot more than handing over money?

Giving - Did you know that giving is a part of spending?