The Money Mindset
Learning Objectives
After studying this section, students should be able to:
- Recognize that the journey towards financial independence involves a long-term shift in mindset
- Prepare a reasonable budget for a month as a trades worker
- Have awareness of budgeting technology tools that assist in reviewing expenses
- Classify expenses based on types of needs, wants, and savings
- Calculate individual or family savings rate
- Understand how lifestyle creep can impair accumulation of assets
- Determine an emergency fund amount
- Identify methods skilled trade workers can use to increase their savings rate
- Set SMART financial goals
