Daily Spending Journal
August 31, 2009

Objective:
Becoming familiar with the personal financial planning process.

Learning Outcomes:
Students will achieve a moderately to highly skilled status by showing proficiency in the following:

• Understand financial challenges.
• Learn about the personal financial planning process
  • Evaluate your financial health
    • Learn about record keeping

Coursework Procedure:
Before you adequately plan your financial future, you need to evaluate your current financial health. This exercise is the first step in recognizing your own finances by logging your spending. Use the Daily Spending Journal (honded out in class or download it here) to keep track of all money you spend. It is unimportant for the purposes of this exercise to note where the money came from (an allowance, a job, you found it on the street, etc.), it is important that you understand just how much you spend on what you spend it on. Fill in your daily spending for the next 14 days.

You MUST record every time money is spent on you as well as money you spend. An example: Your family goes to McDonalds for dinner, you order a Big Mac meal for $2.99 and the family total at the counter is $15,65. Even though your dad pays for the whole meal, you enter $2.99. You are basically recording what it costs for you to exist.

NOTE: It is quite possible that you will not spend money every single day, so it is okay if not every day contains an entry. However, it is important the every penny you spend for the next 14 days is recorded.

Due Date(s) and Submission Instructions:
Bring your completed Daily Spending Journal to class daily starting on Tuesday, September 15, 2009.

FIN 1050 - PERSONAL FINANCE
Grade Levels: 11-12
Units of Credit: 3 credit hours (SLCC)
Course Number: FIN 1050
Prerequisite: None

Study of financial skills essential for economic success. Subjects: Financial planning, fin. services, income taxes, consumer buying, insurance, retirement planning & estate planning.