Title: Develop a personal financial plan, including a budget.
Course: Foundations of Agriculture, Food, and Natural Resources (18001-I) > Section: Demonstrating Skills in Agribusiness

Development should include

- a short statement of short- and long-term goals (e.g., pursuing postsecondary opportunities, acquiring assets)
- a plan for managing one’s money over a short-term period
- a plan for managing one’s money over a long-term period (i.e., retirement)
- a budget allowing for discretionary income and taking into consideration cost-of-living increases.

Process/Skill Questions:

- What items fall into the short-term budget category? Long-term budget category?
- What is the difference between gross and net income?
- What resources are available to help one prepare a personal budget?
- What is discretionary income?
- What are some resources that provide financial advice?