SPH-H263: Personal HealthFinancial HealthSetting a budget – first step in meeting all of your financial goals1. Determine income- Scholarships- Grants- Savings accounts- Investments- Jobs2. Determine fixed (essential) expenses & variables (wants)- rent/utilities- food- transportation- designer handbags- fashion shoes- manicures/tans3. Determine possible cut-back items:- Starbucks coffee- Netflix- Eating out / take-out- Extended cell phone plan- Mall shopping- Alcohol - Parking4. Set short-term goals- Paying bills- Taking a weekend ski trip5. Set long-term goals- Buying a used car- Purchasing next semester’s books- Planning a semester abroad- Planning a summer road tripWhy are credit cards important?1. Help you establish good credit- Buy/rent houses, cars, apartments- Qualify for jobs- Receiving loans and insurance2. Certain things are impossible to do without them- Buying airline tickets- Staying in hotels- Compensating for