Savings Goals

Objectives

1.  List various methods for saving for major purchases and retirement 

2.  Uses a budget calculator  program (or spreadsheet) to determine how much savings are possible

3. Identify organizations where savings may be invested with the best change growth (Mutual Funds, ETF, Stocks, bonds)

4. Identify various plans that are available for long term and short term plans (long term: employment (401k, 403b, etc), IRA, Roth IRA)

5.  Identify locations where short term funds may be stored: bank accounts, money markets, CDs, Treasury bills, etc.

6.  List various methods of savings that takes advantage to tax savings.
   
   

The 5 min. video below introduces how to prepare to invest

As you go though the lesson, we will go over the items in this intro video and more.

To begin saving you will first need to know how much money you will be able to save every week or month.  To do this it will help to set up a budget on how much money you need to spend each month.  

Once you see you monthly expenditures, you will be able to determine how much you can save weekly, biweekly or monthly. Even if it is a small amount it is good to start.

Below is a sample spreadsheet that you can use to put in your budget.

Open the monthly budget (you will need a google account) and select make a copy.  Once you make a copy you can customize the sheet to meet your budget estimation needs.

Click on image below to open and copy the google sheet.  May need a google account to view.