Financial planning helps you use your money get most out life. A financial plan, or budget, decision-making tool based basic principles scarcity, choice, opportunity cost. Without financial plan, impulse buying may make it difficult “make ends meet,” no matter your income. Equipped an understanding financial planning, students better able adapt ever-changing economic conditions.

It important realize that every purchase involves cost. To truly satisfied purchase depends analyzing its costs benefits.

Concepts

• Budget
• Earned Income
• Unearned Income
• Fixed Expenses
• Variable Expenses

Objectives

• Identify sources income
• Identify expenses
• Distinguish between fixed variable expenses
• Develop personal budget

Time required

One or two class periods