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This program will help you:This program will help you:

Live the Lifestyle YOU WantLive the Lifestyle YOU Want

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WHY SHOULD I LEARN MONEY WHY SHOULD I LEARN MONEY SKILLS?SKILLS?

If you invest as little as $100 per month, you could become a millionaire.

This works according to the principle of

compounding interest.

What would you do with a million dollars?

IntroductionIntroduction

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DREAMS AND GOALSDREAMS AND GOALS

The most important thing money can provide me is:

Setting GoalsSetting Goals

? ?

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MOTIVATIONMOTIVATION

What does this word mean to you?

What motivates you to get money?

Why?

Motivate YourselfMotivate Yourself

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HOW FINANCIAL SKILLS IMPACT YOUR LIFEHOW FINANCIAL SKILLS IMPACT YOUR LIFE

Lifestyle

Help others

Free time

Reduce stress

Make the worlda better place

Finances and Your Finances and Your LifeLife

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GOALS vs. DREAMSGOALS vs. DREAMS

Dream = Something you hope but not planned.

Goal = A person’s dream written down, with a detailed plan.

Write down your goals for each time frame:o 1 year__________________o 5 years_________________o 10 years________________o 20 years________________

Dreams into Dreams into GoalsGoals

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Proper Goals Are:Proper Goals Are:

Specific

Measurable

Attainable

Result-orientated

Time-driven

Goal SettingGoal Setting

“Our goal was to travel to Italy”

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To Reach Your Goals, To Reach Your Goals, Remember:Remember:

To Create a plan

To Review goals often

To Visualize

The Law of Attraction

Reaching Your Reaching Your GoalsGoals

See it,Believe it,Plan it,Do it!

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Let’s Learn To BudgetLet’s Learn To Budget

What percentage of lottery winners wastes all their winnings within a few years?

Answer: 70%

How many NBA and NFL players are broke or bankrupt within 5 years of retirement?

Answer: More than 60%.

BudgetBudget

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Budgeting Provides For: Budgeting Provides For:

Control

Organization

More Money

Opportunity

Benefits of Benefits of Budgeting Budgeting

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People with no money skills often make poor financial

choices, regardless of how much money they have.

Financial Financial DecisionsDecisions

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Costs of RentingCosts of Renting

What expenses (besides rent) must you pay each month when you rent an apartment?o Electricityo Gaso Water, sewer, trasho Cable TV and Interneto Repairso Renter’s insuranceo Furniture/appliances

Hidden CostsHidden Costs

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Automobile CostsAutomobile Costs

What expenses (besides car payment) must you pay each month when you buy a car?

o Gas

o Insurance

o Registration

o Maintenance

Hidden CostsHidden Costs

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Budget Before Buying Budget Before Buying PhilosophyPhilosophy

BBB!BBB!

Always budget all the costs of an item before you purchase it to ensure it is affordable.

BBBBBB PhilosophyPhilosophy

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Banking EssentialsBanking Essentials

How do banks work?

What is the difference between a bank and a credit union?

BanksBanks

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Banking EssentialsBanking Essentials

Open a checking and savings account.

Set up direct deposit.

Set up auto bill pay.

Save and invest automatically every month.

BanksBanks

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AutoX SystemAutoX System

BanksBanks

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Building good credit can save you over $100,000 in your life.

Building A Credit Building A Credit HistoryHistory

What would you do with a $100k?

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Building A Credit Building A Credit HistoryHistory

WAYS TO KEEP A HIGH CREDIT WAYS TO KEEP A HIGH CREDIT SCORESCOREPay bills on time

Keep debt low

Insurance

Protect yourself from identity theft

Use credit wisely to build credit history

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CAR LOANSCAR LOANS

How will you be treated if you have a good credit history?

How will you be treated if you have a bad credit history?

How does that make you feel?

What can you do to avoid paying more for your car loan?

Credit and LoansCredit and Loans

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WHAT IS CREDIT?WHAT IS CREDIT?

Do you think people are more likely to buy something they do not need when they use a credit card?

CreditCredit

?

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HOW CREDIT WORKSHOW CREDIT WORKS

Difference between a debit card and a credit card.

Credit card companies charge interest

That’s how they make their money

How can you avoid paying interest?

CreditCredit

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WHY DO PEOPLE HAVE WHY DO PEOPLE HAVE CREDIT CARDS?CREDIT CARDS?

Build credit rating

Pay in full each month

Have 6 months of bills in savings

Have a working budget

Control spending

CreditCredit

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COLLATERALCOLLATERAL

Low-risk loan

High-risk loan

Car loan: collateral = the car

Car value – down payment = collateral

LoansLoans

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LOAN QUALIFICATIONLOAN QUALIFICATIONTo qualify you for a loan, lenders look at:

o Income

o Debt

o Credit history

o Assets

o Job stability

LoansLoans

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FOCUS ON PASSIONSFOCUS ON PASSIONS

What are some careers available for people with a passion for…

o Sports?

o Entertainment?

o Media?

PassionsPassions

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PREPARE NOW FOR YOUR PREPARE NOW FOR YOUR DREAM JOBDREAM JOB

Understand job descriptions.

Review skill sets.

List skills and training you need.

Create a timeline to get your dream job.

CareerCareer

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What does investing mean to you?

InvestmentInvestment

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WHY PEOPLE INVESTWHY PEOPLE INVEST

Financial security

Lifestyle

Retirement

Beat inflation

InvestmentInvestment

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CASH FLOW TERMSCASH FLOW TERMSPositive cash flow

Negative cash flow

Breakeven cash flow

Assets

Liabilities

Net Worth

Cash FlowCash Flow

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What net worth will you What net worth will you need to retire with a future need to retire with a future

income of…income of…

$60,000?

$150,000?

$450,000?

Investment PlanInvestment Plan

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CREATING A PERSONAL FINANCIAL CREATING A PERSONAL FINANCIAL PLANPLAN

Decide how much money you need

Write goals

Create a savings plan

Build a solid foundation

Team of trusted advisors

Step-by-step, diversified, flexible plan

Investment PlanInvestment Plan

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WHY DIVERSIFY?WHY DIVERSIFY?

Reduce overall risk

Protect from total loss

Investment PlanInvestment Plan

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BASIC INVESTMENT TYPESBASIC INVESTMENT TYPESBonds

Money Market

Gold, Silver, Metals

Stocks

Real Estate

Businesses

InvestingInvesting

Become an expert in investing!

Start making money you while you hang out with friends, travel and even while you sleep.

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COMPOUND INTERESTCOMPOUND INTERESTCompounding interest allows your money to grow.

The younger you start, the larger your money can grow.

InvestingInvesting

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CALCULATING RETURNCALCULATING RETURN

Earn interest on the money you save.

Earn interest on the interest.

The rule of 72

InvestingInvesting

Grow your money!

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If you start investing $100 per month before you’re 21, you have an excellent chance of becoming a millionaire.

InvestingInvesting

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What would you like to do with your million bucks?

ImagineImagine

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WHAT IS INSURANCE?WHAT IS INSURANCE?

Insurance is an agreement that protects you or your property in the case of injury, damage, or theft.

Insurance protects your investment. If anything happens to something covered by your policy, the insurance company will pay for replacement, repair, or a cash settlement.

Why do people purchase insurance? To protect:o Carso Homeso Health (medical, dental)o Liabilityo Belongings (renter’s insurance)o Life

Why are these important to cover?

InsuranceInsurance

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INSURNACE BENEFITSINSURNACE BENEFITS

Protects you.o In cases of medical emergencies or accidents, insurance can provide access to doctors,

medication, and other things you need to remedy the situation.o When you insure your car, the insurance company pays to repair damage to the vehicle.

Protects your family.o It gives you peace of mind knowing your family will be provided for if you pass away.

Protects your assets and income.o Having insurance can protect your assets and income in cases of accidents and lawsuits.o Insurance can significantly reduce costs of having to pay for major disasters on your own.

Protects your credit.o If you are issued judgment from a lawsuit, your credit rating will be affected negatively.

Protects items you own.o Belongings you insure can be replaced if something happens.

InsuranceInsurance

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INSURNACE GAMEINSURNACE GAME

If you roll:

Doubles (1s through 5s) – nothing, you are extra safe and get 1 extra ticket.

3 – You fall and hurt your leg. If you have medical insurance you pay 1 ticket. If you do not you pay 4 tickets.

4 – You get into a car accident. If you are insured you pay 1 ticket. If you are not you pay 6 tickets.

5 – Your apartment is broken into. If you are insured you pay 1 ticket. If you are not you pay 5 tickets.

6 – You get the flu and need prescription antibiotics and a blood test. If you are insured you pay 1 ticket. If you are not you pay 4 tickets.

7 – Someone hits your car in a parking lot. If you are insured you pay 1 ticket. If not, 3 tickets.

8 – A pipe bursts in your apartment and ruins your couch and TV. If you are insured you pay 1 ticket. If you are not you pay 6 tickets.

9 – A rock hits your car and breaks your windshield. If you are insured you pay 1 ticket. If you are not you pay 5 tickets.

10 – You trip and fall and sprain your ankle. You need crutches, an x-ray, and pain medication. If you are insured you pay 1 ticket. If you are not you pay 8 tickets.

11 – You want to get a flu shot. If you are insured you pay 1 ticket. If you are not you pay 3 tickets.

12 – The roof collapses and damages all your belongings. If you are insured you pay 1 ticket. If you are not you pay 10 tickets.

InsuranceInsurance

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INSURANCE TYPESINSURANCE TYPES

o Health: Includes medical, dental, and vision. Health insurance is a must. If you don’t get sick often, choose cheaper forms of insurance.

o Automobile: Insures both you and your vehicle and is a must. Talk to your insurance agent about adequate coverage.

o Renter’s Insurance: Covers personal belongings in your rental. Important for those who have nicer things. o If have a 20-year-old TV and a couch you found in the alley, renter’s insurance may not

be so important.

o Property Insurance: Covers any properties that you own and is a must.o Umbrella Policies: Provide additional coverage on your existing insurance

policies plus other protections.o Suggested for those with substantial assets.

o Life Insurance: Provides coverage to your loved ones in case of your death.o Especially important for those with families.

InsuranceInsurance

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AUTO INSURANCEAUTO INSURANCE

You must have auto insurance to avoid extreme risk to you, to others, and to your future finances.o If you have an accident without insurance you can face judgments

for huge damages.o Your wages can be garnished until the damages are paid—which

could take years!

Shopping for auto insurance:o Get quotes on the Internet or by phone.o Compare policies carefully to make sure coverage is the same.

Bottom line: Younger drivers pay more for insurance. To lower insurance costs:o Good driver discountso Choice of car

InsuranceInsurance

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MENTORSMENTORS

Mentors can:o Help you get a jobo Provide personal adviceo Act as a support systemo Help you get into college

Who can be your mentor?o Professorso Business professionals o Family friendso Anyone with experience and expertise in areas that you are interested in.

Business Business RelationsRelations

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GAMEGAME

A man was at restaurant feeling poor he sees a rich man take a stack of hundred dollar bills out his pocket to pay the cashier. The poor man says to the rich man "I know all the songs known to man." The rich man laughed and said, "I bet you all the money in my pocket that you can't sing a song with my daughter's name in it, Sarah Lee Greyson." The poor man went home rich and the rich man went home poor.

What song did the man sing?

Business Business RelationsRelations

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ELEVATOR PITCHELEVATOR PITCH

Having an elevator pitch ready prepares you for opportunity.

What makes you, your business idea or other thing that you are interested in unique?

What message do you want to tell your market or your potential advisors/network?

What is the project that you are working on?

What is your elevator pitch?

Business Business RelationsRelations

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ENTREPRENUERSHIP AND YOU?ENTREPRENUERSHIP AND YOU?

Lifestyle – The personal freedoms associated with being an entrepreneur are unrivalled by many other jobs.

Choose who you work with – Perhaps, the greatest point to working for yourself is you get to choose who you work with and do business with.

Financial Rewards – Business owners have the ability to control how much they earn. When you want to make more money, you simply work more efficiently.

Tax Benefits - There are several tax benefits business owners enjoy, which helps them to keep more of the money they earn.

Growth of your skill set - Being a business owner means that you are responsible for everything that happens within your company.

Social EnterpriseSocial Enterprise

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ENTREPRENUERSHIP AND ENTREPRENUERSHIP AND YOU?YOU?

Financial Insecurity – In life it is important to take the rough with the smooth, and owning your own business is no different.

Health Insurance –Employee health plans and any other benefits you get with a regular 9-5 job are now your responsibility, and can reduce your bottom line.

Decisions, decisions - Though being the decision maker is a key benefit of entrepreneurship, it can also be difficult. All the decisions of the business fall to you. Setting up an office, hiring staff, marketing your business - everything depends on you. You will build a network of advisors in time, but at the beginning, this can be challenging.

Social EnterpriseSocial Enterprise

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MAGAZINE ENTERPRISEMAGAZINE ENTERPRISE

As a class you need to generate $6,400 in income based off of the budget below.

Budget:o Office Rent: $2,000o Staff: Writers, Illustrators: $1,500o Utilities: $500o Cost to Print Magazine: $1,200o Total Expenses: $5,200

Savings goal: $1,200 per month.

Social EnterpriseSocial Enterprise