The Steps:
  

Family

  

Government & Community

  

Education & Skills

  

Employment

  

Management

  

Credit

  
 
 
 
 
 
 


Management
Section I / Section II / Section III / Section IV / Section V / Section VI

Strategy 2 - Plan

Next make an appropriate spending plan (budget) with specific categories according to fit your situation, problem and personality both in money and time. Plan to make decisions and do your hardest work at peak times of performance. Cure the costly sin of procrastination.

Develop balance in your life but remember you are unique and special. Your circumstances and your resources are unique to you.

Balance past (debts), present, and future needs.

Balance time for studies, hobbies, work, community service, and family/friends.

Balance spending, saving and sharing.

Balance needs and luxuries; ideal versus adequate; security and growth; stability and growth.

Create a plan or budget with appropriate categories that work for you. See illustration here for categories of daily, weekly, monthly, semester or semi-yearly and at:

http://www10.americanexpress.com/sif/cda/page/0,1641,638,00.asp?

Choose a spending plan or budget with useful and specific categories for your decisions, situation and personality. The categories in the formats from which you can choose are:

  • Semester, monthly, weekly, and daily expenses or savings (shown here)

  • Cash Flow Analysis with income, expenditures, revisions for debt or investments (see page 28)

  • Save, spend, and share

  • Necessities and luxuries

  • Past satisfactions (debts), present satisfactions, and future satisfactions

  • Estimated and actual

  • Due dates on a calendar with date to send check

  • Fixed, flexible, and set-asides

  • Urban published budget figures for expenses and your expenses in dollars and in percentages

  • Maintenance, household operation, life style expenses, insurance and protection, financial investments, human capital investments

  • Categories by function: family responsibility to the family (physical maintenance, social development, and identity) and family responsibility to the world (economic stability of the society, political security of society, cultural effectiveness of society)

Critical decisions for the college student include efficiently allocating financial resources through consistent self-management in budgeting and monitoring of savings and spending plans.

 

 

Family - Government & Community - Education & Skills - Employment - Management - Credit - Housing, Vehicles & Equipment - Insurance - Savings - Investment - Financial Planning
Ability to Adjust

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