Clay’s Candy Bar Madness

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Presentation transcript:

Clay’s Candy Bar Madness

People Payday 2 % Millionaire Group Smarties 10% Debt Free and Living Large Dum Dums 70% Normal: Broke, Busted, and Disgusted Jaw Breakers 16% Bankrupt: Zero, Zilch, Nada Milk Duds 2% Death by Visa: Mounting Pressure and Debt

Clay’s Candy Bar Madness Ringpop: You did it! You are a Millionaire. Statistically speaking you represent a portion of society that adheres to a financial game plan, avoids debt, invests early, and is wise with their resources Whoppers: Debt Free and Living Large You’ve paid for your college education, your care, and your house, and you have a fully funded emergency fund You live within our means, save, and pay for things with cash You started saving for retirement a little late, but other than that you’re looking good! PF-Chapter 1 Personal Planning

Clay’s Candy Bar Madness Butterfingers: “Zero, Zilch, Nada…The American Dream” Married, 28 years old, two kids, and a dog Combined debt of $85,400: Car loans $42,000; school loans $35,000, credit card $8,400 Annual income: $80,000….take home pay $4,700, expenses, $4,555 You’ll have to save more than 7 months to get $1,000 in emergency fund It will take you a min. of 10 years to pay off credit card; 15 years pay off student loan, and you will always have a car payment! 12 years you will have no money in the bank and your kids need to go to college You can’t make it…file for bankruptcy…maybe divorce 90% of divorces stem from a financial disagreements Suckers: “Normal, Broke, Busted and Disgusted” 23 year old college graduate Total debt is $45,000 (car: 21,000, school loan 20,000, credit card: 4,000) Annual Income: $40,000…Monthly Take home pay $2,500…Monthly expenses…$2,125 You’ll have to save for three months to get over $1,000 in the emergency fund It will take you 10 years to pay off your student loan, 5 years to pay off your car, and credit card by making only the monthly payment PF-Chapter 1 Personal Planning

Sweet Tarts: “Death by Credit Cards” Same as Jaw Breakers but with $100,000 in debt more. Under pressure, depressed, UGGGHHH!