3 minute read
Planning budget for myself, my business or NGO
120 mins All
How to make a realistic budget and plan a cash flow?
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Objective / Aims
Obtaining basic knowledge of using web-based simple and time saving tool for budget and cash flow planning. After the workshop participants: • Will be able to create user account in iPlanner.net environment. • Will be able to set-up a workplace for individual and team work. • Will be able to create a financially viable scenario for a household, NGO of small business.
Materials/Apps
• Big sheets of paper and markers for group work. • Apps, Software, platforms used: Any internet browser software. Access to existing personal e-mail account.
Space Space should be prepared for group and individual work. Computer class would be convenient or alternatively personal computer with internet connection for every participant. Big screen for projecting in front of the group.
ANALOGICAL PART. STEP BY STEP. 1st part
1. The first activity in this part of the workshop is to get to know participants and their experiences. 2. Sharing user experiences and habits of financial planning. Speak with the group about personal good/bad experiences of planning finances.
ANALOGICAL PART. STEP BY STEP. 2nd part (25 min)
Carry our group discussion about different ways of planning own finance/budget. (5 min).
Encourage participants to create 2 person groups. Topic - “Create a cash flow and investment forecast” (10 min).
Task for each group: find the answer when a family will have enough money to buy a another car that costs 6000.-eur.
Available data: Beginning time: July 2022 Monthly salary income 1200.Additional income 280.- in September and October Additional income 310.- in December Additional income 200.- in March 2023 Regular expenses Electricity 130.- monthly Heating 20.- to 140.- (Summer-Winter) E-services 40.- monthly Food 180.- monthly
Culture 80.- every other or every third month Insurance 280.- annually in January Transport - fuel 160.- monthly Transport (repairs and materials) average 200.- monthly Other expenses 100.-monthly
Investments: new washing machine 400.- in September 2022 Goal - to emphasize that manual calculating and comparison of various scenarios is very time consuming.
DIGITAL PART. STEP BY STEP. 1ST PART (10 min)
Introducing iPlanner.net as one of tools for making a efficient budget and cash-flow forecasts and analysis.
iPlanner.net is a platform that over years has been developed as sophisticated tool while simple to use on-line tool for cash-flow planning, business performance analysis. It can be successfully used as well for household as well as NGO and small business use.
Goal of this session is to prepare participants for practical creation of their budget and cashflow forecasts.
Essential aspects - explain those and prepare participants to be ready to set-up their workspace. • What will iPlanner be used for - small business, NGO or household? • Will you use iPlanner just yourself or there will be a team to share with? • What incoming cash (revenue) will be taken into account? • What expenses will be taken into account? • What kind of financial sources will be used?
Ask the group some re-cap questions to make sure everyone is ready for individual work.
Create your budget! Following steps are shown as screenshots in a presentation document planning-bugget-4yourself-ngo.key.pdf (as well as .ppt and .key formats) Steps every participant has to complete: 1. Create your account in iPlanner.net system. E-mail confirmation will be asked. 2. Create a user’s team for the site. 3. Enter configuration parameters. 4. Enter data and analyse results.
DIGITAL PART. STEP BY STEP. 3rd PART (20 min)
Presentation of budgets and Q/A session. Ask volunteers to present their work and discuss it for the benefit to the whole group.
Evaluation of the activity / Result (10 min)
Saving your Document and summary of the workshop.
Discuss what have participants learned, what will they use in their everyday work.
