FI Slides These slides are intended to help you prepare flip charts and for active charting in...

FI Slides

These slides are intended tohelp you prepare flip charts

and for active chartingin conjunction with the

FI Instructor Guide

Welcome

Financial IntegrityTransforming

Your Relationship With Money

Session 1

Parking Lot

Why FI?

• Reduce stress about money• Have more clarity about money• Feel more in control• Get out of debt• Live within my means and save• Be able to do the work I want to do • Reconnect with my purpose in life• Have more time for what’s important to me

Introduce Yourself

• Name

• Location (town, neighborhood)

• One reason you’re taking this course

Financial Integrity

The 9 Steps

(use the real logo here)

Financial Integrity

Tips for Success

Create a place for your materials.

Be open.

Pay attention when you feel resistance - it’s a learning moment.

Customize the steps for you.

Be patient - change can be hard.

Keep a journal.

Find support and friendship.

Check out resources.

• Fulfillment curve• Step 1 – How much money has come into yout

life and what you have to show for it• Step 2 – Real hourly wage and tracking your

money• Step 3 – Monthly tabulation• Review and plan for next session

Session 1 – Overview

9 circles exercise

Fulfillment Curve

Just getting started…

Fulfillment Curve

• Necessities/Survival

Fulfillment Curve

• Comforts

Fulfillment Curve

• Luxuries

Fulfillment Curve

• More luxuries

• The elusive high

• Clutter

Fulfillment Curve

• Enough

Group Activity

Necessities/Survival

Comforts

Luxuries

Clutter

Step 1

Lifetime Income

and

Personal Net Worth

Step 1

Lifetime Income

Lifetime Income

Financial Sources: Amount

Taxed income (SSA report)

Untaxed jobs

Selling stuff (cars, CDs)

Allowance /”spending money”

Gifts

Interest on savings

Total Lifetime Income $________

Step 1

Personal Balance Sheet

OWN OWE

Liquid Assets (+) Cash Value

Liabilities (-) Cash Value

Cash on hand Car loan

Bank Accounts School loans

Investments Mortgage

Credit Cards

Hard Assets Personal Loan

House

Vehicles

Personal items

Total Own $_________ Total Owe $_________

Personal Financial Net Worth Assets – Liabilities = $_______

Step 1

Liquid Assets

Step 1

Hard Assets

Step 1

Liabilities

Step 1

Personal Balance Sheet:

a place to put assets & liabilities

and determine your personal net worthOWN OWE

Liquid Assets (+) Cash Value

Liabilities (-) Cash Value

Cash on hand Car loan

Bank Accounts School loans

Investments Mortgage

Credit Cards

Hard Assets Personal Loan

House

Vehicles

Personal items

Total Own $_________ Total Owe $_________

Personal Financial Net Worth Assets – Liabilities = $_______

Step 1

SEE and ACCEPT

your current reality

REFLECT

on the choices you’ve made

UNDERSTAND

that you have control over the future

Step 2

Real Hourly Wage

&

Tracking Your Money

Step 2

What is Money?

Money =Money =Money =Money =Money =Money =

Step 2

Money = a means of exchange

Step 2

Money = life energy

Money is something you

trade your life energy for

How much of your life energy

are you trading for money?

Step 2

Figuring out your RHW

• Work-related benefits

• Work-related expenses

• Work-related time

Step 2

Case study RHW

Dollars/month ÷ Hours/month = Dollars/hour Basic J ob $2,773.34 168.0 $16.51 Adjustments: Payroll taxes -$212.16 Work travel -$60.00 21 Coffee at work -$15.75 5.25 Work clothes ($320/yr)

-$26.67

Work supplies/tools

-$30.00 0.5

Subtotal Adj. -$344.58 26.75 Real Hourly Wage

$2,428.76 ÷ 194.8 = $12.47

Step 2

RHW? Money = Your Life Energy

• Every time I spend about $__ I am trading about an hour of my life energy.

• Every time I buy ____ at $___, I am trading 30 minutes of my life energy.

Step 2

Tracking the flow of money in your life

(case study)

J anuary Inflows Outflows

Day 1 Coffee 0.75 Gas 35.00

Paycheck 1,386.67 Truck insurance 84.00 Rent 500.00 Day 2 Coffee 0.75 Cat food 12.15 Day 3 Coffee 0.75 Day 4 Coffee 0.75 Movie & snacks 10.00 Day 5 Coffee 0.75 Snacks/beer for poker 12.75 Poker winnings 4.50 Day 6 New boots 110.99 Groceries 75.82 Concert 40.00 Day 7 Electric bill 35.50 Telephone bill 65.75

Step 2

Questions

What methods could be helpful for

tracking every cent/dollar?

What challenges do you anticipate?

What opportunities?

Step 3

Monthly Tabulation

Patterns, Categories, and Subcategories

Gazingus Pins

Translating your Categories Life Energy

Step 3

Sample Monthly Tabulation

(notice the categories)

Dollars

Hrs of Life

Energy Accounts/cash at beginning $000.00 Income: Wages Interest Etc Total Income: Expenses: Rent Utilities Groceries Snacks Etc Total Expenses Remainder (Total Exp – Tot Income) Accounts/cash at month end

Step 3

Categories

Subcategories

Debt

Step 3

Gazingus Pins

Step 3

Case Study

Monthly Tabulation

Small Group Discussion

• Look at the whole chart, then choose one of two categories to discuss.

• What impact do you think the charting will have on the owner of this chart?

• What do you anticipate when you look at your own tabulation (hours of life energy)?

Introduction – The 9 Circles Exercise

The Fulfillment Curve

Step 1 - Your Lifetime Income and Personal Net Worth

Step 2 - Money = Life Energy

Calculating your Real Hourly Wage (RHW)

Tracking Your Life Energy

Step 3 – Patterns, Categories, and Subcategories

Gazingus Pins

Monthly Tabulations

Translating your Categories RHW

Session 1 – Review

Look over the handouts Start tracking your expenses. Why not? We’ll meet here at _____ on _____.

See you then!

Next Session