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Responsible
Spending
Presented By:
IISEM UG 2015-16
Sometimes,
we are so
focused on what we
want, we miss the
things we need
Responsible Spending
Objectives of the Session
1) To understand the importance of spending
responsibly
2) To learn appropriate ways to develop financial
awareness and skills
3) To help learners manage their allowances in a
responsible way
4) Not to spend less but to spend accroding to ones
need
Session I
Introduction ( 3 Mins)
Group Discussion on Spending Pattern (10 Mins)
Presentation of the discussion outcomes (30 Mins)
Discussion on Need Vs Wants (5 Mins Video)
Concluding Remark by the teacher (5 Mins)
Spending (Discussion)
Activity 1
Activity on spending habits
identify sources of income
Prepare a check list on how much do you spend in
a month and on what
Check the areas where spending can be more
responsible
Spending Habits
regular spending
-basic necessities of life
lifestyle spending
-beyond the basic requirements
(e.g. Branded commodities)
Facts cont.
Card vs Cash
Advantages
Disadvantage
s
Right usage
Spending Habits
Video 1
Session II
What influences people to spend? (5 Mins)
How to deal with those influences? (10 Mins)
Setting priority on spending Group Discussion
(15 Mins)
Budgeting - Individual Exercise (5 Mins)
Video on Budgeting (5 Mins)
Need for Saving (10 Mins)
Video on ways to save (5 Mins)
Session II (Influence )
Media
Peers
and
Setting Priorities
Everyone has to set priorities on what they want
Basic needs (food, clothing, shelter, education and
transportation) take priority
Overspending is an addiction that can lead to
debt and even bankruptcy
Risk factors to be considered (eg sudden illness,
accidents)
Budgeting
Spending Plan
Budgeting
Video 2
How to create a budget
Activity 3
Prepare a planned budget for a trip to Goa
Saving
We need to save because we cant predict the
future
For future goals
For Emergencies
-Accidents
-Illness
-Unpredictable requirements
Video 3
(tips on saving)
Money Values
Video 4
Money- the other side of life
Thank You