1
Budgeting and Money Management
- Creating a budget to track income and expenses.
- Learning to prioritize spending and distinguishing between needs and wants.
- Developing good saving habits and setting financial goals.
2
Banking and Basic Financial Services
- Opening and managing a bank account.
- Understanding banking fees and charges.
- Learning how to write checks, use online banking, and manage debit/credit cards.
3
Understanding Credit
- Learning about credit scores and reports.
- Establishing and building good credit.
- Using credit responsibly and avoiding common credit pitfalls.
4
Debt Management
- Understanding different types of debt (credit cards, home loans, student loans).
- Learning about interest rates, terms, and repayment options.
- Avoiding excessive debt and managing existing debt responsibly.
5
Saving and Investing
- Building an emergency fund for unexpected expenses.
- Understanding various investment options (stocks, bonds, index funds).
- Learning about the power of compound interest and long-term investing.
6
Insurance and Risk Management
- Understanding different types of insurance (health, auto, renters).
- Evaluating insurance needs and selecting appropriate coverage.
- Managing risk and protecting against financial setbacks.
7
Financial Planning for the Future
- Learning about retirement planning and saving for the future.
- Understanding the importance of estate planning and creating a will.
- Considering other long-term financial considerations (such as education planning for children).
8
Financial Goal Setting
- Setting short-term and long-term financial goals.
- Developing a plan to achieve those goals (e.g., saving for a down payment on a house, starting a business).
- Monitoring progress and adjusting strategies as needed.