© Take Charge Today – May 2014– Setting Financial Goals – Slide 1 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer.

© Take Charge Today – May 2014– Setting Financial Goals – Slide 1Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Giving to OthersADVANCED LEVEL

© Take Charge Today – May 2014– Setting Financial Goals – Slide 2Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

How does this relate to career choice?

“We make a living by what we earn, we make a life by what we give.”

Winston Churchill

© Take Charge Today – May 2014– Setting Financial Goals – Slide 3Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Forms of giving

Being kind to another

Knowledge

Skill Talent

Money

Items

© Take Charge Today – May 2014– Setting Financial Goals – Slide 4Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Healthy Giving

Giving out of excess in your life

When you want to give back or pay it forward

and the result is positive emotions

What healthy giving do you observe in your community?

© Take Charge Today – May 2014– Setting Financial Goals – Slide 5Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Unhealthy Giving

Does not enhance the well-being of

both the receiver and

giver.

When giving is a method of

gaining power over another.

What unhealthy giving do you observe in your community?

© Take Charge Today – May 2014– Setting Financial Goals – Slide 6Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Prepare for giving

Create a spending planEvaluate needs, wants and valuesAssess your timePlan for expenses, such as Christmas giftsAvoid using credit for giving

Use Money Management Tools

© Take Charge Today – May 2014– Setting Financial Goals – Slide 7Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Money Management Tools

Statement of Financial Position

Income & Expense

Statement

Spending Plan

What is my financial position today?

What is my future money management

plan?

How have I managed my money in the

past?

© Take Charge Today – May 2014– Setting Financial Goals – Slide 8Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Decision making with giving

Values Money

NeedsTime

Wants Finances

What other factors should be considered when deciding what and how

to give to others?

© Take Charge Today – May 2014– Setting Financial Goals – Slide 9Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Childhood

Teen Years

20’s to 30’s

40’s to 50’s

60’s and Beyond

Giving Throughout the Life Cycle

Reflect on what you have been given at different stages.

© Take Charge Today – May 2014– Setting Financial Goals – Slide 10Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Giving Throughout the Life Cycle

Children are often the recipients of giving

Adults give many of their resources to their children or family members

When someone passes on, their

estate plan identifies how their assets will

be given to individuals and/or community

organizations

How does giving change throughout the life cycle?

© Take Charge Today – May 2014– Setting Financial Goals – Slide 11Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Financial Statements

Earning

Savings & Investing

Insurance Planning & Risk Management

How are the below related to Giving?

© Take Charge Today – May 2014– Setting Financial Goals – Slide 12Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

• Assess the overall financial position to evaluate pros & cons of giving

• Creates a plan for special events that involve givingFinancial

Statements

• Choose a career that can help you meet your giving goals

• A career choice could be an ultimate form of giving

• Be grateful to those that have given to your growth of human capitalEarning

© Take Charge Today – May 2014– Setting Financial Goals – Slide 13Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

• Emergency savings should be established prior to giving

• Savings and investing are valuable avenues to give Savings &

Investing

• Ensure you have planned for life events and accounted for such expenses prior to giving

Risk Management

© Take Charge Today – May 2014– Setting Financial Goals – Slide 14Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You are better off in a community than by yourself.

Your present self impacts your future self

You are responsible for your present self and your future self.

Investment helps manage risk and allows you to cope with risk and uncertainty. 

Giving is integral in financial planning