My Own Financial Statements
September 7, 2011

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:
You have spent 2 weeks recording your spending habits on your Digital Spending Journal. This should help you assess what your expenses are. Now it's time to evaluate your own finances.

Using the Simplified Income Statement, record your income (from a job, an allowance, or from various jobs you do around the neighborhood like babysitting, etc.) and your expenses. Then, using the Personal Balance Sheet, record your assets and liabilities.

NOTE: There are categories on these statements that may not apply. For example, most of you probably don't have a retirement plan yet. It is perfectly fine to cross out categories that are not listed and replace them with one that applies to you. Everyone's financial statements look different anyway.

Due Date(s) and Submission Instructions:
Submit your Simplified Income Statement, Personal Balance Sheet by the beginning of class on Tuesday, September 13, 2011.

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.