General money management & personal savings/investment

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Presentation transcript:

General money management & personal savings/investment Element: 45 & 46 PG 202 - 205

Objectives Define: Resources Summary Budgets Debt Management Personal Savings Investments Resources Summary

Budgets Budgets: are compilations of personal financial data designed to communicate information on monetary matters, or better said, a tool for reaching financial goals. The two most useful budget statement are: Balance sheet Cash flow statement

Balance Sheet

Debt Management Debt Management: is a systematic way to help individuals if they are in debt to become debt-free. It involves spreading the repayments over a period of time and stopping creditors from taking legal action. Typically offered through Fleet & Family Support Center. (Personal Financial Management Program) To remove debts, individuals are also required to put forth the effort of sticking to a budget. Not always accessible after transition.

Personal Savings FDIC or NCUA insured account. Savings Account: is an account where the deposits can earn you interest. FDIC or NCUA insured account. Offers competitive interest rates on low account balance. Saving Account do not provide a lot of interest earning. They are designed to put money into an account for withdraw when needed.

Investments Bonds: A fixed income investment in which an investor loans money to an entity which borrows the fund for a defined period of time at variable or fixed interest rate. Certificate of Deposits (CD): Saving certificate that entitles the holder to a receipt of interest.

Investments (continue) Stocks: A portion of ownership in a corporation. The holder of the stock is entitled to the company’s earnings and is responsible for its risk for the portion that each stock represents. Mutual Funds: An investment program funded by shareholders that trade in diversified holdings and is professionally managed.

Resources Family & Fleet Support Center (Financial Counselors) Command Financial Specialist militaryonesource.mil annualcreditreport.com inchargefoundation.org bbb.org/us/military mint.com saveandinvest.org/military nmcrs.org

Resources (continue) militarymoney.com stashinvest.com

Summary Budget and the two type of Budget Statement. Debt Management Personal Savings Different type of Investment

Questions?