FINANCIAL FREEDOM “The rich ruleth over the poor and the borrower is servant to the lender.” (Proverbs 22:7) Finding FINANCIAL FREEDOM.

Slides:

Advertisements

Similar presentations

Credit Cards (pitfalls & proper use)

Advertisements

Credit Buy Now, Pay Later. Credit Someone is willing to loan you money (principal) in exchange for your promise to pay it back, usually with interest.

How to Use Them, But Not Abuse Them

 Borrowing from Family and Friends  Using Credit Cards for Basic Living Expenses  Using your Savings to pay Bills.

Those who are wise never pay interest… they earn it!

1 Timothy 6:10 For the love of money is at the root of all kinds of evil. And some people, craving money, have wandered from the faith and pierced themselves.

C.A.R.E. Credit Abuse Resistance Education A program of: U.S. Bankruptcy Court, Western Missouri & Kansas Districts The Kansas City Bankruptcy Bar Association.

Bankruptcy. Importance of Numbers What do you know about bankruptcy?

In Unit 4 we will see the importance of using and managing credit effectively in the financial planning process.

Test Your Knowledge Lesson 3: A Fresh Start

Managing and Eliminating Credit Card Debt Solutions to help you get debt free.

Debt’s Danger Signs Proverbs 22:7 “The rich ruleth over the poor, and the borrower is servant to the lender”

Managing Credit Mansfield University TRiO Melissa Wise -First Citizens National Bank.

Dan James Dallas Center – Grimes HS Daveramsey.com.

CREATING WEALTH IN AMERICA Utilizing Tax Advantages The E-Commerce Explosion Passive Income Vehicles.

Financial Fitness Senior Seminar Agenda Student Loans Credit Cards Credit Report/Score Budgeting Insurance Saving and Investing.

Learn Now or Pay Later! Learn Now or Pay Later! Financial Literacy for Teens.

THE COST OF FINANCIAL ILLITERACY WHAT YOU DON’T KNOW COULD REALLY HURT YOU!! COULD REALLY HURT YOU!!

Why Financial Coaching? Fact Pattern – the Smith family Household monthly income is $2,000 2 children 2 cars Rent an apartment Goals: Understand poverty.

Credit Wisdom. Managing Money & Credit: A Lifelong Skill.

Money Matters Spring 2015 $$$$$$$$$$$$$$$$. True or False – – Using a credit card is a lot easier than paying cash – Credit cards are a great way to buy.

Credit Receiving something now and promising payment at a later time. Principle: Actual cost of the good or service. Interest: Amount paid for the use.

Credit Consumer Economics. What is credit? The ability to borrow money now with the promise that you will repay it in the future. Credit can be a useful.

Credit statistics Average college student has 4.25 credit cards College seniors graduated with an average credit card debt of more than $4,100. Close to.

Jeopardy! Credit Protection Laws Secured or Unsecured Credit Bureaus Selecting a card VocabularyMixed

Advantages of using credit cards Ability to use item while paying for it No need to carry cash Use of card builds credit history Quick source of funds.

Dear God – I know that You are the source of all that I need to get through each day. I need to look for your wisdom and strength to make my day easier.

Bankruptcy. A legal process to get out of debt when you can no longer make all your required payment.

Credit What YOU need to know!. What is Credit? Credit is borrowing money now to make an immediate purchase and promising to repay it later.

2.4.1.G1 © Family Economics & Financial Education – December 2005 – Get Ready to Take Charge of Your Finances – Take Charge of Credit Cards Funded by a.

Financial Literacy 1 Welcome!. Asset Development and Financial Literacy 2 “Few people have ever spent their way out of poverty. Those who escape do so.

ASSETS MATTER Your Financial Road Trip High School Financial Education Training March 14-15, 2011 Washoe County School District.

SESSION 3: FINANCIAL GOAL SETTING, SPENDING, AND CREDIT TALKING POINTS on SETTING & ACHIEVING FINANCIAL GOALS FINANCIAL GOAL SETTING, SPENDING, AND CREDIT.

Debt Freedom Session 1 – Change Your Mindset. Average American family has $9,000 in credit card debt Debt is stealing our freedom The rich rules over.

Credit Basics. Some old stats 83% of college students have at least one credit card 45% of college students are in credit card debt –Average debt over.

Rating Your Credit and Help for Credit Problems. What is your credit score? A score that tells everyone if you are a good risk Credit bureaus sell credit.

Road to Financial Maturity Saving & Budgeting. Why Money Skills Are Important  Create Independence  Set and reach goals  Enjoy living responsibly within.

Financial Literacy: Knowing What You Need To Know To Achieve Your Financial Goals.

Personal Finance Introduction and Financial Facts.

Personal Financial Planning Steps in Creating the Plan.

CREDIT 101 Top Ten Tings to Know!. Drowning in Credit Card Debt Americans are loaded with credit card debt. The average American household with at least.

UNIT FIVE. CREDIT: BUY NOW, PAY LATER. Coming soon to a mailbox near you: Credit Card offers.

Stewardship Lesson 2. SMART Goals Specific Measurable Achievable Resources Timeline Write them down Short Term Long Term Find accountability – Share goals.

Ch Personal Finance Personal Finance. How much money will the average American earn in their working lifetime? (35 years) How much money will the.

Family Economics & Financial Education 4.1.G1 © Family Economics & Financial Education – Revised October 2004 – Credit Unit – Selecting a Credit Card Funded.

Jeopardy Begins with c Loans Poor credit Consumer Credit consumer Finance Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final.

Goals: Describe the financial planning process. Explain action for implementing a financial plan. Identify actions for reviewing a financial plan.

Personal Financial Literacy

STEPS TO FINANCIAL INDEPENDENCE AS YOUNG ADULTS

Godly Perspective Average household debt in the U.S. is now 136% of the household income. For those carrying a balance, the average credit card.

Bankruptcy. A legal process to get out of debt when you can no longer make all your required payment.

Student Loans Giovney Mede 1. Class of 2013 graduates average $35,200 in total debt 2. Where student loans are most delinquent 3. Student debt delays spending,

October 17, 2011 Objective: Students will learn about credit and the different types of credit.

DAVE RAMSEY THE SEVEN BABY STEPS TO FINANCIAL PEACE.

What is a Budget? Economics. “A Dream stays a Dream until you create a plan to make it come true; then and only then does it become reachable goal”

Money Matters for Residents: teaching personal finance in residency Sally P. Weaver, PhD, MD Waco Family Medicine Residency Program Spring 2009.

2.4.1.G1 © Family Economics & Financial Education – December 2005 – Get Ready to Take Charge of Your Finances – Take Charge of Credit Cards Funded by a.

“When I was young, people lived from paycheck to paycheck. Today, it seems like they live from credit card payment to credit card payment.” - Robert Kiyosaki.

news/video-credit-card-basics-1264.php news/video-credit-card-basics-1264.php.

Using Credit Wisely. Credit  Credit is a sum of money a person can use before having to reimburse the credit lender.  It allows a person to receive.

CREDIT. The Need for Credit  Credit is buying now and paying later  Today 80% of purchases are made with credit  Qualifying for Credit  Income- Money.

Take Charge Of Your Credit Presented to you by … Sara Baker, Ladysmith Federal Savings & Loan A condensed version.

Biblical Approach to Financial Freedom Elder Wil Gipson I Belong to You.

Habits to Make You Financially “Fit” Joan P. Nye JPN Financial Presented to Felcor Fit Club April 10, 2014.

Get Out of Debt – and Stay Out!. Some Statistics About Debt 150 million Americans have credit cards 1/3 pay their balance in full each month That means.

Seven Steps for Debt Elimination and Financial Peace

Personal Money Management

What About Debt? Session ?.

Consumer Debt Statistics

FEATURES OF FINANCIAL FITNESS FOR LIFE

Presentation transcript:

FINANCIAL FREEDOM “The rich ruleth over the poor and the borrower is servant to the lender.” (Proverbs 22:7) Finding FINANCIAL FREEDOM

Global Debt

National Debt

Dollars spent in the lifetime of an average 21-year-old Adults who are unbanked Total revolving debt carried by the average household Credit cards in the average household Amount Americans shelled out in credit card fees in 2004, an 18% increase over the previous year

11 Steps For Getting out of Debt

STEP #1 Acknowledge the Problem

11 Steps for Getting out of Debt #1: Acknowledge the Problem

STEP #2 Stop Digging

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging

STEP #3 Make Small Cutbacks

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks

STEP #4 Start an Emergency Fund

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks #4: Start an Emergency Fund

STEP #5 Take Inventory

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks #4: Start an Emergency Fund #5: Take Inventory

STEP #6 Make a Spending Plan

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks #4: Start an Emergency Fund #5: Take Inventory #6: Make a Spending Plan

STEP #7 Control Spending

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks #4: Start an Emergency Fund #5: Take Inventory #6: Make a Spending Plan #7: Control Spending

STEP #8 Pay Bills on Time

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks #4: Start an Emergency Fund #5: Take Inventory #6: Make a Spending Plan #7: Control Spending #8: Pay Bills on Time

STEP #9 Start a Snowball

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks #4: Start an Emergency Fund #5: Take Inventory #6: Make a Spending Plan #7: Control Spending #8: Pay Bills on Time #9: Start a Snowball

STEP #10 Grow Your Income

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks #4: Start an Emergency Fund #5: Take Inventory #6: Make a Spending Plan #7: Control Spending #8: Pay Bills on Time #9: Start a Snowball #10: Grow Your Income

STEP #11 Expand Your Emergency Fund

11 Steps for Getting out of Debt #1: Acknowledge the Problem #2: Stop Digging #3: Make Small Cutbacks #4: Start an Emergency Fund #5: Take Inventory #6: Make a Spending Plan #7: Control Spending #8: Pay Bills on Time #9: Start a Snowball #10: Grow Your Income #11: Expand Your Emergency Fund

FAMILY FINANCIAL FITNESS

*45% of college students with $3,000 + in credit card debt *More students lost to credit card debt than to academic failure *96% increase in number of 18 to 24- year-olds declaring bankruptcy *Personal bankruptcies nearly doubled in the past decade *1.6 million + filed for personal bankruptcy in *Home foreclosures in 2002 reached the highest rate in 30 years.

Once you get out of debt,

STAY OUT OF DEBT!

Resources Dave Ramsey –Financial Peace –The Financial Peace Planner –How to Have More Than Enough –More Than Enough –Financial Peace Revisited –The Total Money Makeover (and workbook) –The Money Answer Book –Priceless: Straight-Shooting, No-Frills Financial Wisdom –EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches Dave Ramsey Show 1:00-4:00 PM 570 AM(KLIF) U.S. Debt Clock: World Debt Clock: