Financial Literacy for Beginners: Budget, Save, Build Wealth

In week 2 you will gain a deeper understanding of how money moves within your life. You will understand what your sources of income are and how to categorize and clearly identify what you spend your money on.

The goal of this week is to audit yourself and have a crystal clear picture of the money that flows in and out of your life.

For this week's exercise, please identify your sources of income and breakdown your expenses. Think about whether you have savings each month or not. Lastly, you will be challenged to start goal setting by thinking about three things that you want to purchase in the near future. This should be the fun part!

In week 3 you will explore the many different ways you can earn income as well as think about what you are truly passionate about.

The goal of this week is to understand the sources of where your money comes from and how you can potentially earn income working within your passion.

For this week's exercise, you will be challenged to think about what you are truly passionate about and three different ways that you could earn income within your passion.

In week 4 you will take a closer look at how you spend your money.

The goal of this week is to have a full and clear breakdown of how you spend your hard earned money. In addition to this you will learn and understand the concept of needs versus wants and identify if what you spend your money on is a need or a want.

For this week's exercise, you will dive into breaking down the money you spend and critically ask yourself if the money spent is a need or a want.

In week 5 you will learn a life-changing technique to save money.

The goal of this week is to learn and understand how you can save money by paying ourselves first and why paying yourself first is so important when building your personal finances.

For this week's exercise, you will start to refine and build your financial picture by looking closely at the money you make, the money you spend and how you can start to save effectively.

In week 6 you will learn about financial goal setting.

The goal of this week is to understand what financial goal setting is, why goal setting is important and learn how to set our own financial goals.

For this week's exercise you will review the three different types of goals and set three realistic goals for yourself.

In week 7 you will learn about budgeting.

The goal of this week is to understand what a budget is, why budgeting is important and how to create your own personal budget.

For this week's exercise, you will create your own personal budget with the step-by-step worksheet provided.

In week 8 we will do a full course review of the main topic discussed and the next steps for you in your financial planning.

The goal of this week is to understand the big picture of how everything you have learned over the course ties together. You will see how everything is linked and hopefully by now have a better understanding of your financial position and how you can change it for the better.

For this week's exercise, you will be given a working budget template that you can use now and for the future to regularly track your personal finances to make sure that you are staying on track to hit your financial goals.

Thank you for choosing my Financial Literacy for Beginners 8 week lesson plan. I hope you learned a lot from this lesson plan and I look forward to connecting with you.

My one small ask is that you please leave me an honest review. I would love to hear your feedback so I can continue to improve and refine the course to provide greater value for my students.

All the best,

Nelson

Connect with me: https://www.linkedin.com/in/nelsonsoh/

In this course update, you will learn about personal cash flow statements. These statements help you calculate your net cash flow, which then feeds into your budget. You will also learn the differences between pay periods, like semi-monthly and bi-weekly and how the different types impact your cash flow.