Download Giving to Others

Giving to Others
ADVANCED LEVEL
© 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 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 2
Funded 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 3
Funded 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 4
Funded 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 5
Funded 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 plan
 Evaluate needs, wants and values
 Assess your time
 Plan for expenses, such as Christmas gifts
 Avoid using credit for giving
Use Money Management Tools
© Take Charge Today – May 2014– Setting Financial Goals – Slide 6
Funded 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
What is my
financial position
today?
Income & Expense
Statement
How have I
managed my
money in the past?
Spending Plan
What is my future
money management
plan?
© Take Charge Today – May 2014– Setting Financial Goals – Slide 7
Funded 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
Time
Values
Money
Wants
Finances
Needs
What other
factors should be
considered when
deciding what and
how to give to
others?
© Take Charge Today – May 2014– Setting Financial Goals – Slide 8
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Reflect on what you have been given at different stages.
20’s to
30’s
Childhood
Teen Years
60’s and
Beyond
40’s to
50’s
Giving Throughout the Life Cycle
© Take Charge Today – May 2014– Setting Financial Goals – Slide 9
Funded 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
How does giving change 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
© Take Charge Today – May 2014– Setting Financial Goals – Slide 10
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
How are the below related to Giving?
Financial Statements
Earning
Savings & Investing
Insurance Planning & Risk
Management
© Take Charge Today – May 2014– Setting Financial Goals – Slide 11
Funded 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 giving
• 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 capital
Financial
Statements
Earning
© Take Charge Today – May 2014– Setting Financial Goals – Slide 12
Funded 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
• Ensure you have
planned for life events
and accounted for
such expenses prior
to giving
Savings &
Investing
Risk
Management
© Take Charge Today – May 2014– Setting Financial Goals – Slide 13
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Giving is integral in financial planning
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.
© Take Charge Today – May 2014– Setting Financial Goals – Slide 14
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona