Curbing poor spending habits is just the beginning. In this course, you'll learn how to create healthy habits that last.
Last updated 2022-01-10 | 4.7- Create and maintain a monthly household budget
- Execute a plan to pay off all debt
- Save money consistently
What you'll learn
* Requirements* A printed copy of your last checking account statement
* A printed copy of your last credit card account statement
* Access to your retirement fund balance
* A calculator
Want to fix your financial life? Of course, you do. No one wants a broken money life, yet a lot of us stay stuck in one place for way too long because we are lacking one major skill... action. Yep, ACTION is a learned financial skill. Through this 40-minute course, you and I will work together to create an action plan to fix your financial life. We'll focus on spending. Spending is what causes debt, it's what causes cash flow problems, and it's what prevents you from preparing for the future. When you fix your poor spending habits the rest of your financial life will come together. In this course, you'll learn how to cut spending and save money, create a plan for paying off debt, and understand the value of knowing your net worth. Are you ready? Let's get started!
Who this course is for:
- This course is for any teen or adult with any income range
- This course is for those who feel financially stuck and need a kickstart
6 sections • 10 lectures
What Toilet Paper has to do with Money Preview 03:11
In this lesson you'll see the link between your financial knowledge and your behavior. You'll also see the impact your behavior has on the amount of resources you have. Now is also a great time to download the course workbook. In the workbook you'll find tables and charts to fill in with your numbers, plus a page for notes.
Breaking Down Your Financial Life Preview 07:03
In this lesson you'll break down the lifecycle of your financial life, from your past, to your present, to your future.
Take Action! Preview 02:18
In this first Take Action section you'll use a few highlighters and your bank statement to determine how much of your current income is going to your past, present, and future.
The Right and Wrong Ways to Pay Off Debt Preview 04:59
Debt obligates you to your past. It can also prevent your current dollars from preparing you for your future. In this lesson we'll discuss the three common methods people use to pay off debt, and which is the best to use. Use the workbook to figure up your net worth. Net worth is an excellent way to measure progress.
Take Action! Preview 02:11
You need to get out of debt. You know this. Here is a plan to get you there. Use the 'Momentum Method' table in your workbook to chart your course.
Why and How to Budget Preview 06:49
Budgeting. To many, it's a bad word. After this lesson, it will be your new reality. Budgeting isn't bad. In fact, it can take your financial life from stressful to calm. Use the Ideal Budget in your workbook to see how your current spending percentages line up with the ideal percentages.
Take Action! Preview 03:13
Now that you know the importance of budgeting, here is a budgeting trick to get yourself started. It requires a few highlighters, your bank statement, and a calculator. That's it.
NOT Spending Does Not Equal Saving Preview 04:40
Not spending money is great, but it isn't the same thing as saving money. In this lesson we'll discuss the difference and how you can correct the problem.
Take Action! Preview 01:54
Use the chart in your workbook to figure up your weekly spending average. Then track your weekly spending for the next 9 weeks. Any time you spend less than your spending average make a transfer to your savings account.