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Your Money Values  and Influences Your Money Values  and Influences

Your Money Values and Influences - PowerPoint Presentation

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Uploaded On 2019-11-22

Your Money Values and Influences - PPT Presentation

Your Money Values and Influences Module 1 Your Money Values and Influences Module 1 September 2018 1 PreTraining Survey See page 19 in your Participant Guide 2 Section 1 Values and Money Section ID: 766977

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Your Money Values and Influences Module 1: Your Money Values and Influences Module 1 September 2018 1

Pre-Training SurveySee page 19 in your Participant Guide 2

Section 1: Values and MoneySection 1Values and Money See page 3 in your Participant Guide 3

Section 1: Key TakeawayUnderstanding your values can help you set achievable financial goals. 4

What Are Values?People, things, and places that are important to you and guide how you make decisionsValues shape how you prioritize time, energy, and money5

Apply It: My ValuesSee page 3 in your Participant Guide 6

Try It: Values and Financial ChoicesSee page 4 in your Participant Guide 7

Section 1: Remember the Key TakeawayUnderstanding your values can help you set achievable financial goals. 8

Section 2: Goals and MoneySection 2 Goals and MoneySee page 6 in your Participant Guide 9

Section 2: Key TakeawaySetting SMART goals helps you achieve your hopes and dreams for the future by providing a realistic plan to follow. 10

What are Goals? What kind of future do you want? These are your hopes and dreamsGoals are your desired results Set goals:To prioritize how you use moneyTo measure and track progress11

Setting SMART Goals Goals should be: SpecificMeasurableAction-orientedReachableTime-bound12

SMART Goals To ensure your goals are … Ask yourself…SpecificWhat exactly do I want to accomplish? Why is this important to me?Is this something I really want?MeasurableHow much? How many? How will I know when I’ve met my goal? Action-oriented What specific actions do I need to complete in order to meet this goal? Reachable Is this goal something I can actually reach ?   Time-bound When will I reach this goal? 13

Try It: Writing a SMART GoalSee page 7 in your Participant Guide 14

Apply It: My SMART Goals See page 9 in your Participant Guide 15

Section 2: Remember the Key TakeawaySetting SMART goals helps you achieve your hopes and dreams for the future by providing a realistic plan to follow. 16

Section 3: External InfluencesSection 3 External InfluencesSee page 10 in your Participant Guide 17

Section 3: Key TakeawayExternal influences impact financial choices. Use strategies to stay focused on your goals. 18

Influences on Choices about MoneyAdvertisementsMedia CelebritiesPeers/friends 19

Influences Can Be…Productive Helping you achieve your goalsUnproductive Getting in your way 20

External Influences: Small GroupsAdvertisements Media CelebritiesPeers/friends21

Social Pressure and AdvertisingIt’s human nature to want what others have Advertisers spend money to influence how we spend our moneyImpulse purchases can make it harder to achieve goals 22

Strategies for Staying Focused on Your GoalsRecognize tactics used by advertisersNotice when and where you’re tempted Control your environmentBuild in a pause 23

More Strategies for Staying Focused on Your GoalsTalk yourself out of it Calculate hours or days an item is worthThink about your hourly wage Divide cost of item by hourly wage Quantify purchase in terms of a very valuable thing  your time $cost of item÷$hourlywage=Hours you have to work to pay for item 24

Apply It: Staying Focused on My GoalsSee page 14 in your Participant Guide 25

Section 3: Remember the Key TakeawayExternal influences impact financial choices. Use strategies to stay focused on your goals. 26

Take ActionSee page 16 in your Participant Guide What will I do?How will I do it? Will I share my plans with anyone? If so, who? Visit fdic.gov/education to learn more27

Post-Training SurveySee page 21 in your Participant Guide 28