Financial Priorities

There are a lot of different ways to spend a dollar. These quick assessments will help you recognize your financial priorities and values. Complete each of the activities (have your partner complete the activities as well and then discuss the similarities and differences). By identifying your financial priorities and values you use your strengths to your advantage and avoid some of the common pitfalls of budgeting.

1. You just won $5,000 in the lottery. What will you do with the money?

$_____________ for _____________________

$_____________ for _____________________

$_____________ for _____________________

$_____________ for _____________________

$_____________ for _____________________

2. You have just been laid off at your job. You must make a major cut in spending. What would you cut first?

3. I would like to see me/us spend more money on __________________ and less money on________________.

4. Do you know mow much money is spent monthly on

Rent/Mortgage ____________________
 
Groceries_________________________

Car payments______________________

Utilities___________________________

Entertainment______________________

Clothing___________________________

5. What money problem is the most frequent cause of stress?

6. What is the most foolish thing you have spent money on?

7. What is the most sensible thing you have spent money on?

8. How do you feel about buying on credit?

The VALUE of YOUR Dollar

Read over the list below. Put at 1 beside the things that are MOST important to you. Put at 2 by the things you consider somewhat important and a 3 by things that are not important to you. After you have completed the list, ask your partner to do the same and compare.

____ Religion
____ Education
____ Vacation
____ Saving Money
____ Our own business
____ Jewelry
____ Family
____ Health
____ Cultural Events
____ Sports
____ Job Success
____ Food
____ Insurance
____ Friends
____ New Car
____ Pay off Debt
____ Clothes
____ Home
____ Entertainment
____ Boat
____ Other