A Step Beyond Uncategorized Life and Money Management Strategies

Life and Money Management Strategies

Welcome to Life and Money Management Strategies. We will discuss:
being organized, goal setting, savings planning, managing money,
budgeting, overspending, recreation, fun and celebrating.

We will also discuss:
•what it takes to make changes to your situation.
•some of the hurdles to overcome such as:
•the terminology itself is a barrier for some,
•the barrage of advertising messaging
•learning who you are and what you want, as well as
•learning necessary skills to be in control of your life and money.

You will learn:
•how to be organized
•how to create your own personal budget,
•the step by step processes that can easily be followed at home
•valuable money saving ideas and tips
•the importance of celebrating your successes
•why you need to have fun, recreation and relaxation

Introduction to Money Strategies
Fortune 500 companies have budgets
Do you spend more than you can afford?
Overspending discussion:
Why it happens:
Credit is so easy to obtain
Interest adds to your debt
Influences to our decision making

Constant barrage of messaging to spend,
spend, spend

Why do people do this to
•I believe that they either didn’t know any better (didn’t
have the tools, knowledge, education or expertise, or
•they were caught off guard or
•by surprise by a life changing event.

If you become:
•develop an addiction (drugs, alcohol, gambling)
•lose a job unexpectedly or
•get in an accident, or
•take a parental leave

Any of these life events whether we anticipate them  happening to us or not, can and usually do lead to financial  difficulties of some kind.

Financial Balance Wheel  The Balance Wheel shows 8 areas of
your life related to finances  including:
Goal Setting, Managing Money, Organizing Finances, Savings
Planning, Celebrating, Overspending, Budgeting & Recreation & Fun
How to use the Wheel  Money problems are not about
Money! Therefore will not be solved  with more money!  Money problems are  about:
Spending more than you can afford
Decision making processes
Choices that have been made
Satisfying Wants instead of Needs
Being without a Plan
Low skill level dealing with finances
Money Issues can be solved by:
Determining between
“Needs and Wants

Learning new skills
-how to make effective
decisions, positive choices, and identify

Setting Goals and Prioritizing
Figuring out Where You Are right now
Determine Where You Want to Be
Develop a Plan to figure out How You Will
Get to Where You Want to Go
“Needs vs. Wants”

What is the difference between a “need
and a “want”
Influences to be aware of
Keeping up with the “Jones”
Chase the illusion of happiness
Distinguish between your needs & wants
Learn to trust your intuition
Make effective decisions
Reach out to someone else

Goal Setting and Prioritization You need to have a goal or a purpose, something  that you  ’re trying to achieve.

3 Easy Steps:
Devise a realistic plan to achieve a solution
Divide plan into short term, medium and long
term goals
Prioritize and set time limits to achieve; next
week, next month, next year
S.M.A.R.T. Goals whether short term, medium or
long term.
Goal Setting Exercise
Make a list of things you would like to do differently for the next 3 days, 3weeks, 3 months.
Action Plan for Bringing Balance to My Life
– Handout
Choose 3 steps you can take right now to help you achieve your goal or outcome.
Find a picture or photo of your goal or outcome, place it on your bathroom or bedroom mirror, the door to the bedroom closet, your refrigerator or on car’s dashboard, put it where you will see it often
Whenever you see it, imagine that you have achieved it. Say to yourself,
“I am even closer to this goal / outcome
Allow yourself to feel as if you’ve already accomplished the goal as Life Coaches and Behavior experts believe this is the way for change to be accomplished.

How to Figure out Where You are
Financially Right Now
Why do we need to Budget
What is Budgeting
How to of Budgeting follow handout Budgeting in

6 easy steps
What do you earn
Where does your money go if you don
’t know we
can determine NEXT PaGE
Fixed expenses
Variable expenses
Tracking expenses / Storing Bills
Paying Bills
Keeping Records

Determine Where You Want to Be
Spending more than earning:
Two ways to solve the problem:
Earn more money
Spend less,

It’s generally easier to spend less money
Some things that you can do
Money saving ideas discussion
Money Saving Ideas Handout
Develop a Plan: How will you get

Create your spending plan
Spreadsheets, software programs, pencil and paper
Tailor to your needs, values and priorities, with special consideration given to your goals
Be realistic

Handout Resource Sheets for Group Exercise
Group Exercise on Creating a Personal Budget
Start a savings plan
Keep it simple

Involve all affected parties in process
Implement budget, or plan
Monitor expenses and spending on a regular basis and
Revise budget or reduce spending when necessary

Choosing an appropriate reward
Making it fun and meaningful
Including others
My book of accomplishments