Title: Financial Health Check-Up Workshop

Objective: The objective of this activity is to guide participants through the process of assessing their current financial situation by following the steps outlined in the chapter.

Materials Needed:

1. Flipchart paper or whiteboard
2. Markers
3. Printed handouts or access to online resources containing templates for financial assessment
4. Laptop or mobile devices with internet access
5. Calculators (optional)

Duration: 60 minutes

Implementation: This workshop can be conducted in a physical or virtual setting. If conducted virtually, ensure that participants have access to online resources and collaboration tools such as Zoom or Google Meet.

Workshop Outline:

1. Introduction (10 minutes):
   • Briefly introduce the importance of assessing one’s current financial situation for effective financial planning.
   • Explain the objectives of the workshop and the activities participants will engage in.

1. Overview of Financial Assessment Steps (15 minutes):
   • Present an overview of the five key steps for assessing one’s financial situation: calculating net worth, analyzing cash flow, reviewing debt situation, evaluating retirement accounts, and considering working with a financial advisor.
   • Explain the significance of each step and how it contributes to a comprehensive understanding of financial health.

1. Group Activity: Financial Assessment Exercise (30 minutes):
   • Divide participants into small groups of 3-5 individuals.
   • Provide each group with a financial assessment template or worksheet that includes sections for calculating net worth, analyzing cash flow, reviewing debt situation, and evaluating retirement accounts.
   • Instruct each group to work through the financial assessment exercise collaboratively, using their own financial information or hypothetical scenarios.
   • Encourage participants to discuss their findings, identify areas of strength, and pinpoint areas for improvement in their financial situation.
   • Facilitate discussions within the groups, offering guidance and clarification as needed.
2. Group Presentations and Discussion (15 minutes):
   • Ask each group to present a summary of their financial assessment findings to the rest of the participants.
   • Encourage groups to share insights, challenges faced during the exercise, and any strategies they identified for improving their financial situation.
   • Facilitate a discussion after each presentation, allowing participants to ask questions and provide feedback to their peers.
3. Conclusion and Action Planning (10 minutes):
   • Summarize the key takeaways from the workshop and emphasize the importance of regularly assessing one’s financial situation.
   • Encourage participants to reflect on their own financial assessment results and identify specific action steps they can take to improve their financial health.
   • Provide resources or suggestions for further learning and support in areas where participants may need additional assistance.

Conclusion: This workshop provides participants with a practical opportunity to assess their current financial situation and identify areas for improvement. By engaging in collaborative exercises and discussions, participants can gain valuable insights and develop actionable strategies for achieving their financial goals.