Family Financial Planning

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Presentation transcript:

Family Financial Planning Christine Fabian

CONCERN If I do not ??? Then I might not ??? My ??? is being affected by my money situation. My life would be better if I could just ???

MOTIVATION Wow! What will it be like if we can just ???? I am excited to not worry about ???? My ???? is going to be better off because ????

NEW PATTERN

GET A CLEAR PICTURE – STEP 1a How much money do I have? -minus- How much do I owe? The difference is your Net Worth Terminology- Net Worth

GET A CLEAR PICTURE – STEP 1b How much do I make each month (paycheck)? -minus- How much do I spend each month (paycheck)? The difference will tell you if you have money to save. This is your personal monthly cash flow statement Terminology- Cash Flow Statement

GET A CLEAR PICTURE – STEP 2a Wants vs Needs

GET A CLEAR PICTURE – STEP 2 Wants vs Needs

GET A CLEAR PICTURE – STEP 2b When do I get paid? When are my bills due? Weekly Monthly Annually

Making a plan – step 3a BUDGET Pen and Paper Using Excel Using an app like www.mint.com Envelope System

Making a plan – step 3b EMERGENCY SAVINGS Amount? Purpose? Location?

Making a plan – step 3c DEBT REMOVAL

REVIEW Questions?