Money IN/Money OUT SUPPLEMENTAL TRAINING MATERIALS

Summary List of the GOALS & OBJECTIVES for the Money IN/Money OUT Sessions

Session 1 - Where Does Your Money GO?

Goal: To heighten participants' sense of control and to motivate them to set financial goals

Objectives: Participants will be able to:
-distinguish between wants and needs
-recognize societal influences on wants and needs
-understand that individuals can gain control of their personal finances
-understand that goal setting and record keeping are essential

Session 2 - Using Credit Means More Money OUT

Goal: To encourge participants to limit the use of credit and become wise consumers of credit

Objectives: Participants will be able to:
-compare annual percentage rates charged on credit
-understand how to request a personal credit report
-set a personal credit limit
-recognize warning signs of credit abuse

Session 3-Saving Means More Money IN

Goal: To challenge participants to spend less in order to save money regularly

Objectives: Participants will be able to:
-understand that limiting debt is a way to stop money going "out," in order to increase savings
-understand the principle of "pay yourself first"
-compare interest rates on savings accounts
-recognize ways to make savings possible
-set realistic savings goals

Session 4 - Where Are You Today?

Goal: To motivate participants to complete a dated net worth statement every year

Objectives: Participants will be able to:
-explain what assets and liabilities are
-complete a dated net worth statement for their personal financial situation now
-understand that a net worth statement should be done periodically to measure progress toward financial goals
-recognize that individuals can increase their net worth by reducing debt and saving regularly

Session 5 - Setting Specific Goals

Goal: To motivate participants to set up a record-keeping system and to develop a plan for reaching their debt reduction and increased savings goals

Objectives: Participants will be able to:
-set up a record keeping system
-use spending records to plan spending
-recognize potential ways to reduce spending
-understand how to get additional financial counseling (if this is the final session)

Session 6 - Reaching Your Goals

Goal: To encourage participants to practice money management techniques and to seek additional help as they need it

Objectives: Participants will be able to:
-understand that money management takes time, practice, and patience
-get organized for a second month of record keeping, and for making a comparsion of their spending record with their spending plan
-check credit reports for inaccuracies and be aware of what is in their records
-seek assistance for additional help with credit management or investments

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