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Financial Freedom - Making Your Money Work
 

Financial Freedom - Making Your Money Work

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In module two of the Financial Freedom Seminar you will learn more about how to put your money to work, and how to have more money for investing by getting control of your spending. This module ends ...

In module two of the Financial Freedom Seminar you will learn more about how to put your money to work, and how to have more money for investing by getting control of your spending. This module ends with an action plan for budgeting and setting goals for your financial success. You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.

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  • If you have more stuff than what you owe on your stuff, you have a positive net worth. If you put part of your money away each month and invest it your net worth increases.

Financial Freedom - Making Your Money Work Financial Freedom - Making Your Money Work Presentation Transcript

  • Family Financial Freedom Seminars Making Your Money Work, Know your Net Worth & BudgetingSaunders Learning Group, LLC
  • Training from Saunders Learning Group Saunders Learning Group provides a variety of training programs, workshops and seminars targeted to the financial services industry. If you are financial planner, broker, tax preparer, insurance agent or banker and need seminar materials for client presentations, contact us to discuss topics, pricing and custom development. Programs are available in a wide range of topics, and we are specialists in developing custom programs that are targeted to your needs. Contact the founder, Floyd Saunders at 316-680-6482 or at floyd@floydsaunders.com for more information. Saunders Learning Group, LLC, Andover, KS
  • Agenda Putting More Money To WorkWhere To Start – Your Net Worth Getting a Grip on Spending Personal BudgetingMaking Your Money Work For You Creating The Action PlanSaunders Learning Group, LLC, Andover, KS
  • “Money is better than poverty, if only for financial reasons.” - Woody AllenSaunders Learning Group, LLC, Andover, KS
  • Your Attitude Toward Money, QuizYour mental attitude toward money will largely determine how successful you are with achieving financialfreedom. In the book “Secrets of the Millionaire Mind” the author, T. Harv Eker talks about the mental attitudesthat create wealth. In a similar book “The Top 10 Distinctions Between Millionaires and the Middle Class”, byKeith Cameron Smith, the author differentiate between the mindsets of the rich and the rest of us. Let’s see ifyou have the mental attitudes it takes to be financial independent:1. Do your believe “I create my life” or “Life happens to me”?2. Do your spend your time with positive successful people or is your circle negative and unsuccessful people?3. Do your focus your attention on opportunities in front of your or the obstacles life presents us?4. Do you get paid based on the time you contribute or based on results achieved?5. Do you focus on your working income or your net worth?6. Do you work hard for your money, or do your let your money work hard for you?7. Are you prepared to constantly learn new things, or do your already know what your need to know?8. Are you afraid of taking risks, or can you take calculated risks to reach a goal?9. Do you only have one source of income, or do you have multiple sources of income?10. Do you focus on increasing your paycheck or increasing your wealth? Saunders Learning Group, LLC, Andover, KS
  • Your “Money Attitude” Part One1. Do your believe I create my life or Life happens to me?“Rich people believe: “I create my life”2. Do your spend your time with positive successful people or is your circlenegative and unsuccessful people?“Rich people surround themselves with positive successful people.”3. Do your focus your attention on opportunities in front of your or theobstacles life presents us?“Successful, rich people focus on opportunities and let obstacles become opportunities.”4. Do you get paid based on the time you contribute or based on resultsachieved?“Poor people get paid based on time, rich people get paid based on results.”5. Do you focus on your working income or your net worth?“Rich people focus on growing their net worth” Saunders Learning Group, LLC, Andover, KS
  • Your “Money Attitude” Part Two6. Do you work hard for your money, or do your let your money work hard foryou?Rich people put more of their money to work for them.7. Are you prepared to constantly learn new things, or do your already knowwhat your need to know?Rich people are constantly learning new things8. Are you afraid of taking risks, or can you take calculated risks to reach agoal?Rich people take calculated risk for a greater return9. Do you only have one source of income, or do you have multiple sources ofincome?Rich people have multiple sources of income10. Do you focus on increasing your paycheck or increasing your wealth?Rich people focus on increasing their wealth Saunders Learning Group, LLC, Andover, KS
  • Putting More Of Your Money to Work Personal financial planning is arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals. . Financial Freedom is everything in your life that involves money. Some of the benefits of personal financial planning are: • You have more money and financial security. • You know how to use money to achieve your goals. • You have less chance of going into debt you cannot handle. • You can help your partner and support your children, if you have a family. Saunders Learning Group, LLC, Andover, KS
  • Overview of Financial Planning Investments Estate Planning Tax Cash Flow Planning and Budgeting Insurance Planning – Risk Assessment Financial Analysis: Statement of Financial Condition Financial Planning Goals and Planning Saunders Learning Group, LLC, Andover, KS
  • Where To Start – Your Net Worth  Assets: what you own  Liabilities: what you owe  Net worth = Assets – Liabilities Saunders Learning Group, LLC, Andover, KS
  • Steps to Financial Freedom 1. Budgeting 2. Debt reduction and avoidance 3. “Emergency fund” 4. Aggressive savings 5. Modest expectations 6. Flexibility and adaptabilitySaunders Learning Group, LLC, Andover, KS
  • Where Am I Today With Money?To figure out your current financial situation, make alist of items that relate to your finances, like:  Savings  Any ivtestments  Retirement accounts  Monthly income (job earnings, allowance, gifts, and interest on bank accounts)  Monthly expenses (money you spend)  Debts (money you owe to others)When you have determined your financial situation,you will be able to start planning. Saunders Learning Group, LLC, Andover, KS
  • Where the money goesSaunders Learning Group, LLC, Andover, KS subtitle 13
  • Your Budget: A Key to Financial Freedom  Determine how you Money comes and goes: —Income (money in)  Wages  Business income  Dividends and interest —Expenses (money out)  Mandatory (fixed)  Mandatory (flexible)  Discretionary Saunders Learning Group, LLC, Andover, KS
  • Mandatory Expenses Fixed — Housing: rent, mortgage — Insurance — Medical — Debt payments: auto loan, student loan, credit cards? — Tuition and fees — Taxes? Flexible — Utilities: electricity, water, gas, water, phone, etc. — Food — Clothing — Transportation — Savings Saunders Learning Group, LLC, Andover, KS
  • Discretionary Expenses  Everything else! — Entertainment: movies, cable, Netflix — Dining out — Gym membership — Magazine subscriptions — Travel — Alcohol — Gifts — Trinkets, gizmos, gadgets and “stuff”Saunders Learning Group, LLC, Andover, KS
  • Getting A Grip on Spending  Distinguish between wants and needs — You need to get to work (perhaps!), you don’t need a new car to get there  Pay yourself first by setting aside just 5 -15% of your earning from each and every paycheck for savings and investing - creating passive income is how to build your financial freedom  Either increase your income or decrease your expenses.  You can find many monthly budget tools on line or as an application for mobile phone/tablet. Saunders Learning Group, LLC, Andover, KS subtitle date 17
  • Budget TipsWhere did the money go? — Reconstruct previous spending, or start tracking current spending — Be consistent with categorization — Prioritize and plan future spending — Monitor and make changes, as necessary — Don’t forget to spend on yourself, and don’t beat yourself up over mistakes Saunders Learning Group, LLC, Andover, KS
  • Spending Plan: Prioritize!  Debt reduction  Establish an emergency fund  Start saving for retirement now  Evaluate and prioritize discretionary spending based on your goals and values — First/next home? — Travel plans? — The latest “it” thingSaunders Learning Group, LLC, Andover, KS
  • Making Your Money Work For YouSeven things you can do to have more financial freedom:1. Pay off all consumer debt2. Pay yourself first every month with an automatic savings contribution3. Establish an emergency fund4. Learn the common sense ways to invest 1. Mutual funds 2. Dividend Reinvestment Programs (Drips)5. Buy term insurance and invest the savings in cost6. Invest in tax-deferred retirement plans7. Have a will, durable power of attorney, trust accounts as needed and a estate plan to transfer assets as you wish. Saunders Learning Group, LLC, Andover, KS subtitle date 20
  • QuestionsSaunders Learning Group, LLC, Andover, KS
  • Post Workshop Action Plan  Complete the Post Workshop Action Plan Saunders Learning Group, LLC, Andover, KS22
  • Reference Material Family Financial Freedom 140 pages ISBN 978-1-60-746269-9 Available Formats: 6"x9" paperback PDF download eBook download Link to order: http://www.fastpencil.com/publications/4498-Family-Financial- Freedom?tid=bookbuy#read_book Also available on Kndle, Nook, iPad and other popular e-readers can be ordered from Amazon or Barnes and Noble in paperback (available soon). Book summary: You might be struggling to make ends meet, but achieving true financial freedom is still possible. The good news is virtually anyone with a desire to learn and the willingness to plan can achieve a considerable degree of financial security. This book is a road map to the personal financial freedom you want and deserve. There are no quick-rich schemes here, just common sense advice on how to manage your money, protect your family from risks and start making the moves to being more financial secure.Saunders Learning Group, LLC, Andover, KS