Bell Ringer

Where do you see yourself in 15 years? Be specific

Relationship status:__________________ Kids: ___________________ Pets: ___________________ Job: ____________________ Where will you live: ____________________ Hobbies: ___________________

STEPS TO FINANCIAL SUCCESS

Step 0: Do not get into debt! NO Credit Cards Avoid Student Loans

Step 1: Save $1,000 to Start an Emergency Fund

An emergency fund is for those unexpected events in life you can't plan for

Do whatever it takes to start saving money. Once you have it, open a checking account that is separate from your regular account and put the cash there.

Step 2: Pay Off All Debt but the House

We can skip this one because you don’t have any debt, right?

Step 3: 3 to 6 Months of Expenses in Savings

Sit down and calculate how much you need to live on for 3–6 months (for most, that's between $10,000 and $15,000), and start saving to protect yourself against life's bigger surprises

According to Money Magazine, 78% of Americans will have a major negative financial event in any given 10-year period

Step 4: Invest 15% of Household Income Into Retirement

This step is all about building long-term wealth. Take 15% of your gross household income and invest it first into matching company 401(k) plans and then Roth IRAs.

Step 5: College Funding for Children

Step 6: Pay Off Home Early Any extra money you can put toward the

mortgage will result in tens of thousands of dollars of interest saved and months (or even years) of not having a payment hanging over your head.

Step 7: Build Wealth and Give This is the last step and, by far, the most

fun become insanely generous, and leave an

inheritance for future generations

Ben and Arthur

• Ben starts investing when he is 19 and stops at age 26

• Arthur starts saving at age 27 until age 65

• Just because he started early Ben came out 700k ahead!

Budgeting!

Best form of budgeting is a 0 budget Use the envelope method it’s old

school but it will help you save money You will only spend money that you

have. Nothing more.

Budget forms

Start off with the information you listed in your bell ringer.

Research how much money you will be making per year.