Money IN/Money OUT My Goal

1. Is there something you have always wanted or needed but you can't seem to find the money for it? Is there some need that is just barely met, but with a few more dollars you could have something a lot more satisfactory? Be it a stereo system, Christmas without debt, or a washing machine, think of some item or achievement that appeals to you.

Write it here--> __________________________

2. Now, estimate the total cost of having this item or achievement. Include tax, shipping, insurance, installation, or add-ons needed.

Write that amount here--> $__________________________

3. How much money can you reasonably set aside per week, biweekly, or monthly toward reaching this goal? How much money you can set aside will affect your target date in number four. You may have to set your date according to what is a reasonable amount to try to save each pay period.

Write in the amount of savings for the chosen frequency>

per week $________

biweekly $________

monthly $________

4. Based on the amount and frequency you planned in number three, about when will you be able to afford your goal?

Write your target date here--> ______________________

5. How can you save that amount of money? Do you know how you can earn the extra money or cut spending on something else in order to save the amount of money in number three? You may want to share this goal with your family and see if everyone is willing to help save in order to meet your goal. Jot down some things you or your family are willing to do regularly for this goal:



You have just completed the basic steps in financial planning! Remember the key word is PLAN. A plan is not a guarantee, but a guide to help you get to where you want to be. You may have to make adjustments in the amount of savings or how to save, but without a plan you probably won't get what you want!

_{North Carolina State University
College of Agriculture and Life Sciences
North Carolina Cooperative Extension Service
Family & Consumer Sciences Department}