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Family Financial Planning
Christine Fabian
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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 ???
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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 ????
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NEW PATTERN
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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
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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
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GET A CLEAR PICTURE – STEP 2a
Wants vs Needs
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GET A CLEAR PICTURE – STEP 2
Wants vs Needs
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GET A CLEAR PICTURE – STEP 2b
When do I get paid? When are my bills due? Weekly Monthly Annually
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Making a plan – step 3a BUDGET
Pen and Paper Using Excel Using an app like Envelope System
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Making a plan – step 3b EMERGENCY SAVINGS
Amount? Purpose? Location?
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Making a plan – step 3c DEBT REMOVAL
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REVIEW Questions?
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