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Money Skills: Dare to Dream! |
Activity 10-3 |
Create a budget for your Dream |
| Introduction |
Aim
Calculate the financial costs of a dream you would like to fullfill and create a financial plan to achieve it.
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| Budget for your Dream |
Write down something you would love to do or to own, e.g. travelling through Europe for 3 months, spending a year in South America, buying your own car, seeing South Africa with the Baz-bus, climbing Kilimanjaro, ... ... ...
Do your calculations in a spreadsheet, file name yoursurname_dream.xlsx
- Break down your dream into small steps (phases).
- Calculate the financial cost of each phase and determine possible ways of financing that part of your dream.
- Make a list of any expenses you will incur if you acquire an asset, e.g. if you buy a property, you may have to pay rates; a horse will need stabling and food and probably veterinary care, an expensive mountain bicycle will need regular maintenance, ... ... ...
- If your dream consists of an adventure, list any preparatory costs you can think of, e.g. training, special clothes, equipment, etc.
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References & Resources
- Barclays Bank. 20??. Barclays Money Skills toolkit.
Viewed online on 10 March 2016 at : http://www.barclaysmoneyskills.com/~/media/Files/Schoolchildren%20Resources/BMS_ages_16-25_toolkit.pdf
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