1. Parents’ Forum Managing Finance in the Home Rosecity Total Child Academy A session held at Sweet Sensation Saturday June 21, 2014 A session held at Sweet Sensation Saturday June 21, 2014

2. ActivityAnchorTime Arrival & RegistrationTeacher Chinedu9.45 – 10.00 Opening PrayerFirst Parent to arrive10.00 – 10.05 Welcome AddressMummy Rose10.05 – 10.10 Workshop SessionMr. Adefarakan10.10 – 11.10 Questions & FeedbackAll11.10 – 11.40 Closing PrayerLast Parent to arrive11.40 – 11.45 RefreshmentTeacher Balogun11.45 – 12.00 Programme Flow

3. Opening Teasers Who do you make your next of kin? How many of us have joint Accounts? What about letting your spouse know how much you earn? How about telling your wife spouse about your investments?

4. Big Picture Perspectives A. Money promises happiness, but the facts say otherwise. A. Money promises happiness, but the facts say otherwise.

5. B. What couples argue about the most and longest is money. That’s a fact, too! B. What couples argue about the most and longest is money. That’s a fact, too! The Reasons: 1. We have little, if any, practical, financial instruction to draw on. 1. We have little, if any, practical, financial instruction to draw on. Few of us were taught money management practices at home. Few of us were taught money management practices at home. Few of us were taught money management practices in school. Few of us were taught money management practices in school. Therefore, most couples address their financial issues through a painful trial and error process. Therefore, most couples address their financial issues through a painful trial and error process. Big Picture Perspectives

6. B. What couples argue about the most and longest is money. That’s a fact, too! B. What couples argue about the most and longest is money. That’s a fact, too! The Reasons: 2. We also have differing financial personalities. 2. We also have differing financial personalities. The number conscious personality. The carefree personality. Big Picture Perspectives

7. C. For the reasons above, the Bible speaks long and loud on money with a wisdom that works. C. For the reasons above, the Bible speaks long and loud on money with a wisdom that works. Big Picture Perspectives

8. High Yield Money Practices for Couples A. Face the facts. “Therefore, laying aside falsehood, speak truth to one another.” “Therefore, laying aside falsehood, speak truth to one another.” Ephesians 4:25

9. A. Face the facts. 1. Know what you really spend. 2. Tracking. High Yield Money Practices for Couples

10. B. Decide together as a couple where you want your money to go before you spend it. B. Decide together as a couple where you want your money to go before you spend it. “Can two walk together unless they be agreed?” Amos 3:3 High Yield Money Practices for Couples

11. B. Decide together as a couple where you want your money to go before you spend it. B. Decide together as a couple where you want your money to go before you spend it. 1. Look at the facts and budget out of this reality. 1. Look at the facts and budget out of this reality. 2. Most couples will need some outside help getting started with a budget. 2. Most couples will need some outside help getting started with a budget. 3. Important: Never spend money that has not been pre-approved. 3. Important: Never spend money that has not been pre-approved. High Yield Money Practices for Couples

12. C. Limit debt. “The borrower becomes the lender’s slave.” Proverbs 22:7 1. The good Home 2. The questionable Car loans Education loans Home Equity loans 3. The ugly Credit cards High Yield Money Practices for Couples

13. A Winning Formula for Managing Your Money at Home A. This budget formula should be managed by Mr./Mrs. “Numbers Conscious.” A. This budget formula should be managed by Mr./Mrs. “Numbers Conscious.”

14. MTH is monthly take home income. MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

15. G is the money we give away. “He who is generous will be blessed.” Proverbs 22:9 MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

16. G is the money we give away. 1. We need to regularly give some of our money away. 1. We need to regularly give some of our money away. 2. The Christian honors God for blessing him by giving a regular tithe. 2. The Christian honors God for blessing him by giving a regular tithe. “Honor the Lord from your wealth, and from the first of all your produce.” Proverbs 3:9 MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

17. G is the money we give away. 3. For every man, Christian or not, giving: Is a character builder that counteracts corrupting greed. Is a character builder that counteracts corrupting greed. “But those who want to get rich fall into many foolish and harmful desires. For the love of money is the root of all sorts of evil and some by longing for it have pierced themselves with many sorrows.” 1 Timothy 6:9-10 MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

18. G is the money we give away. 3. For every man, Christian or not, giving: Is a character builder that counteracts corrupting greed. Is a character builder that counteracts corrupting greed. Connects us to helping others which is a major ingredient to personal happiness. Connects us to helping others which is a major ingredient to personal happiness. Connects us to a greater purpose than ourselves which is a second major ingredient to personal happiness. Connects us to a greater purpose than ourselves which is a second major ingredient to personal happiness. MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

19. S is what we pay to ourselves for saving for the future. 1. Save something out of every income. 2. A healthy, monthly saving amount: 10% 2. A healthy, monthly saving amount: 10% MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

20. 1/12 IE is what we pay to ourselves for irregular expenses that come due throughout the year. 1. Quarterly car insurance, Christmas expenses, school tuition, repairs, etc. 1. Quarterly car insurance, Christmas expenses, school tuition, repairs, etc. 2. Open a “freedom account.” MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

21. CA is Mr./Mrs. Carefree’s monthly allowance we pay out to bless and boundary our mate. MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

22. RMB are the regular, monthly bills we pay. MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

23. DM is the discretionary money we have left for ourselves as a couple. 1. Couples need to decide in their budget which areas should get this DM and how much. 1. Couples need to decide in their budget which areas should get this DM and how much. 2. Young married couples or couples who lack financial discipline may need to put these amounts in cash envelopes and spend out of them to discipline their discretionary spending. 2. Young married couples or couples who lack financial discipline may need to put these amounts in cash envelopes and spend out of them to discipline their discretionary spending. MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

24. DM is the discretionary money we have left for ourselves as a couple. 3. The numbers conscious personality watches over DM when it stays in the check book. 3. The numbers conscious personality watches over DM when it stays in the check book. MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

25. What about credit cards? 1. No charging unless we both agree. 2. Relinquish cards you can’t control. MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

26. What about God? MTH - G - S - 1/12 IE - CA - RMB = DM A Winning Formula for Managing Your Money at Home

27. Case Study Monthly Take HomeMTH50,000 Give AwayG(Tithe, Help, Parents & Others)10,00020% SavingsS5,00010% Irregular ExpensesIE(School Fees, Repairs, Fuel - Car and Gen,7,50015% Care Free AllowanceCA(An allowance for freedom spend)5,00010% Regular Monthly BillsRMBRent, Electricity Bills, Groceries, Others7,50015% Discretionary MoneyDM(Available for investment and joint decision making)15,00030% What about Joint Accounts? Who do you make your next of kin? What about letting your spouse know how much you earn? How about letting your wife spouse about your investments?

28. A. Accept responsibility for sound financial practices in your home whether you are the numbers conscious personality or not. A. Accept responsibility for sound financial practices in your home whether you are the numbers conscious personality or not. Four “Musts” for the Married Man Concerning Money 1. It reduces stress and conflict between you and your wife. 1. It reduces stress and conflict between you and your wife. 2. It draws your wife’s respect and admiration. 2. It draws your wife’s respect and admiration. 3. It brings security to your wife (a top feminine need!) and freedom to your marriage. 3. It brings security to your wife (a top feminine need!) and freedom to your marriage. 4. It requires the paradox principle.

29. B. Make sure you have provided for the future of your family. B. Make sure you have provided for the future of your family. 1. Will 2. Insurance: death, disability Four “Musts” for the Married Man Concerning Money

30. C. Provide a safe place for keeping all your important financial information. C. Provide a safe place for keeping all your important financial information. 1. Put everything in a fireproof container at home or in a safety deposit box at a bank. 1. Put everything in a fireproof container at home or in a safety deposit box at a bank. 2. Put a love letter inside. Four “Musts” for the Married Man Concerning Money

31. D. Keep growing in your financial understanding. D. Keep growing in your financial understanding. 1. Read good books. 2. Seek wise, outside counsel. 3. Get into a couple’s financial study group. 3. Get into a couple’s financial study group. Four “Musts” for the Married Man Concerning Money

32. Questions & Feedback