Diploma in household budgeting
Personal Finance Difficulties
Budgeting involves understanding how much money you earn and spend over a period of time. This can sometimes seem like a daunting and time consuming project however the first lessons dives right into common problems and misconceptions associated with financial planning. Students are given real life scenarios to assess what type of spender they are and are provided with practical guidance to set goals and to implement changes.
Common Problems and Misconceptions
The Cash Tracker, Household Budgeting Software, is a vital tool in order to keep on top of your personal finances and plan for both the short and long term. Here students are taken through a step by step guide explaining how to use and personalise the cash tracker template. Alongside this the bank tracker template is introduced to assess current assets, savings, loans and debts.
Lesson 2 continued
Here we start the process of turning your goals and dreams into a definitive plan. Continuing on from lesson 2, the templates are used to map your income and plan for the future. Students learn how to comprehensively plan for future costs from analysing historical bank statements, identifying fixed and variable costs and dealing with shortfalls. Our expert lecturers offer hints and tips to get the most accurate picture as possible.
Light at the End of the Tunnel
In this lesson students are provided with detailed techniques to cut costs based on the do’s and don’ts of professional money managers. We also explore practical examples of how to increase income and manage your tax position. Debt and the associated complications are explored in detail and practical advice is given on how to consolidate debt and avoid wastage.
Where am I?
In this lesson the final tools required towards a successful financial future are provided. The -cash is king- theory is defined and practical steps are shown to assist in getting ahead of the curve. We understand that the results and effects of implementing budgets will not be seen on day 1 so we show how to track against budgets and understand what the variance means for you. Finally we look at being tax efficient and most importantly making your extra cash work for you.
Building a Complete Financial Picture
Mapping out your income
Mapping out your expenses
Detailed input of expenses
What to do next?
How do I get there?
Detailed Techniques to Cut Costs
Building the Bank
Tracking Actuals vs Budget
What to do with Extra Cash