Creating a Savings Plan
Saving money is never easy. Temptations to spend are everywhere.
We're bombarded with ads on TV, radio and the Internet every day.
When buying a home, you will need money for a down payment and closing
costs. Saving money will help. If you promise yourself that you
will try to follow the rules in this lesson, you will save money
and in time, your savings will grow.
Good Saver Survey
Click the Survey
link and answer the questions to find out about how well you save.
Finding Ways to Save Money
The main ways to save money are to pay yourself first, pay off
debts and control expenses. Click each method to learn more about
how each helps you save.
Check Your Learning:
Take a moment to reinforce your learning about budgeting
and saving. Read all the directions before you begin. You will need
a piece of paper and pencil. You can use a calculator if you wish.
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Directions
- Click the Juan
and Irma Story link and read about how
Juan and Irma earn, spend and save money.
- Note their income and expense amounts on paper.
- Consider how you might calculate whether they will
meet their saving goal.
- Then, click each question link below. A window
will open with a question for you to answer.
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Practice
Now that you have explored some ways to save, try applying these
methods by creating your own savings plan. Follow the steps below
to use our Savings Calculator to create an estimate for reaching
a savings goal.
| Directions
- To see a demonstration of the Savings Calculator,
click Demo.
- Click the Savings
link. A window will open with the Savings Calculator.
- Type the information for your savings goal in the
boxes shown. Note: the response.
- Click the Close Window link to return to the course.
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Join Our Discussion
Click the Discussion Board link on the left to share your ideas
and see what others have shared about the best ways to budget and
save.
Caution: You will need to click the Back button on your Web browser
to return to the course.
Discovery Question: What do you think is the most
important of all the rules for personal money management? Click
Answer
to check your response.
In the next section, you will learn how to use credit wisely.
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