Sponsored By
AMERICA SAVES WEEK 2014
About Us
America Saves Week is coordinated by America
Saves and the America Savings Education Council.
Started in 2007, th...
Agenda
 Why Save?
 Your Saving Checkup
 Set a Goal
 Make a Plan
 Automate Your Savings
 Products and Services
 Your...
3 ACTION STEPS TO TAKE CHARGE
OF YOUR FINANCIAL FUTURE
Copyright (c) 2014 BudgetWise
Financial Solutions LLC
WHY SAVE?
 40% of Americans say they live beyond
their means.
 50% of Americans live paycheck to
paycheck.
 20% of empl...
Your Savings Checkup
Let’s see where you stand on the whole savings issue.
How many of these items can you check off?
 I ...
I. Set a Goal
Copyright (c) 2014 BudgetWise
Financial Solutions LLC
Reasons to save
 Emergency fund
 Getting out of debt
 Retirement
 College
 Purchase a house
 Purchase a car
 Other ...
II. Make a Plan
Copyright (c) 2014 BudgetWise
Financial Solutions LLC
The Budget
1. Keep track of what you are spending:
write it down, save the receipts, or use
an online tool.
2. Once you kn...
6 Strategies for Saving
 Pay yourself first
◦ Establish a saving habit and mindset
◦ No matter how small amount
 Establi...
6 Strategies for Saving
 Pay off debt
◦ The best investment most borrowers can make
is to pay off double digit interest c...
6 Strategies for Saving
 Save for other goals through automatic
transfer from payroll or checking account
into savings.
...
III. Automate Your Savings
Copyright (c) 2014 BudgetWise
Financial Solutions LLC
7 Ways to Automate Your Savings
 Split direct deposit
 Set up regular deposits to savings
 Sign up for company’s retire...
Wayne Metro Community Action
Center
 Save Your Refund – Form 8888
 Individual Deposits Accounts
 Services
◦ Tax Assista...
Fifth Third Bank
 Savings Accounts
◦ Promotions
◦ Rates
 IRAs
◦ Traditional IRA
◦ Roth IRA
 Savings Bond
◦ .10%
◦ www.t...
The Ideal Budget
50%
30%
20%
50 – 30 – 20 Budget
Essentials Lifestyle Savings
Copyright (c) 2014 BudgetWise
Financial Solu...
Your Action Plan
 What is your saving goal?
 What do you need to do to get started?
 What can you automate?
 Visit htt...
Thank You!!!
Samirian Hill
248-905-1625
shill@budgetwisefs.com
BudgetWise Financial Solutions, LLC
www.budgetwisefinancial...
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America Saves Week 2014: 3 Action Steps to Take Control of Your Finances presented by Samirian Hill, President, BudgetWise Financial Solutions, LLC

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A community wide event to promote America Saves Week 2014, hosted by BudgetWise Financial Solutions, LLC and sponsored by Fifth Third Bank. America Saves Week began in 2007 as an opportunity for organizations to promot good savings behavior and a chance for individuals to assess their own status.

Published in: Economy & Finance, Business
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America Saves Week 2014: 3 Action Steps to Take Control of Your Finances presented by Samirian Hill, President, BudgetWise Financial Solutions, LLC

  1. 1. Sponsored By AMERICA SAVES WEEK 2014
  2. 2. About Us America Saves Week is coordinated by America Saves and the America Savings Education Council. Started in 2007, the is an opportunity for organizations to promote good savings behavior and a chance week for individuals to assess their own status. BudgetWise Financial Solutions LLC is a financial education and consulting firm where they teach people to manage money wisely through individual consultations, workshops, and seminars. BudgetWise specializes in personal money management and promoting financial literacy education. Copyright (c) 2014 BudgetWise Financial Solutions LLC
  3. 3. Agenda  Why Save?  Your Saving Checkup  Set a Goal  Make a Plan  Automate Your Savings  Products and Services  Your Action Plan  Wrap Up - Q & A Copyright (c) 2014 BudgetWise Financial Solutions LLC
  4. 4. 3 ACTION STEPS TO TAKE CHARGE OF YOUR FINANCIAL FUTURE Copyright (c) 2014 BudgetWise Financial Solutions LLC
  5. 5. WHY SAVE?  40% of Americans say they live beyond their means.  50% of Americans live paycheck to paycheck.  20% of employees are effected at work because of financial concerns. Copyright (c) 2014 BudgetWise Financial Solutions LLC
  6. 6. Your Savings Checkup Let’s see where you stand on the whole savings issue. How many of these items can you check off?  I pay off my credit card balances each month.  I have an emergency fund.  I set goals and make plans to save for large purchases.  I have an automatic payroll deduction from my paycheck to a savings or retirement account.  I increase my savings when I receive a raise. Copyright (c) 2014 BudgetWise Financial Solutions LLC
  7. 7. I. Set a Goal Copyright (c) 2014 BudgetWise Financial Solutions LLC
  8. 8. Reasons to save  Emergency fund  Getting out of debt  Retirement  College  Purchase a house  Purchase a car  Other large purchases  Vacation  Build wealth Copyright (c) 2014 BudgetWise Financial Solutions LLC
  9. 9. II. Make a Plan Copyright (c) 2014 BudgetWise Financial Solutions LLC
  10. 10. The Budget 1. Keep track of what you are spending: write it down, save the receipts, or use an online tool. 2. Once you know where your money is going, create a budget. 3. Once you have a budget, stick with it. Copyright (c) 2014 BudgetWise Financial Solutions LLC
  11. 11. 6 Strategies for Saving  Pay yourself first ◦ Establish a saving habit and mindset ◦ No matter how small amount  Establish an emergency fund ◦ Keeps you afloat ◦ First: $500 - $1000 ◦ Second: 3 – 6 months of living expenses ◦ Then: A comfortable dollar amount Copyright (c) 2014 BudgetWise Financial Solutions LLC
  12. 12. 6 Strategies for Saving  Pay off debt ◦ The best investment most borrowers can make is to pay off double digit interest credit cards  Participate in work related retirement program (401k, 403b, 457) ◦ Take advantage of employer matching ◦ 100% on the your matching contribution ◦ Opportunity to grow your money – compound effect. Copyright (c) 2014 BudgetWise Financial Solutions LLC
  13. 13. 6 Strategies for Saving  Save for other goals through automatic transfer from payroll or checking account into savings.  Buy a home and pay off the mortgage before you retire. Copyright (c) 2014 BudgetWise Financial Solutions LLC
  14. 14. III. Automate Your Savings Copyright (c) 2014 BudgetWise Financial Solutions LLC
  15. 15. 7 Ways to Automate Your Savings  Split direct deposit  Set up regular deposits to savings  Sign up for company’s retirement plan  Pledge to save certain cash/changes  Use a cash-back credit card (cautious)  Automate your bills  Financial institution’s round up program  Save a portion of your tax refund Copyright (c) 2014 BudgetWise Financial Solutions LLC
  16. 16. Wayne Metro Community Action Center  Save Your Refund – Form 8888  Individual Deposits Accounts  Services ◦ Tax Assistance ◦ Wealth Building Classes Copyright (c) 2014 BudgetWise Financial Solutions LLC
  17. 17. Fifth Third Bank  Savings Accounts ◦ Promotions ◦ Rates  IRAs ◦ Traditional IRA ◦ Roth IRA  Savings Bond ◦ .10% ◦ www.treasurydirect.gov ◦ Electronic Copyright (c) 2014 BudgetWise Financial Solutions LLC
  18. 18. The Ideal Budget 50% 30% 20% 50 – 30 – 20 Budget Essentials Lifestyle Savings Copyright (c) 2014 BudgetWise Financial Solutions LLC
  19. 19. Your Action Plan  What is your saving goal?  What do you need to do to get started?  What can you automate?  Visit http://www.americasavesweek.org ◦ Take the pledge to save ◦ Additional Resources  Q&A Copyright (c) 2014 BudgetWise Financial Solutions LLC
  20. 20. Thank You!!! Samirian Hill 248-905-1625 shill@budgetwisefs.com BudgetWise Financial Solutions, LLC www.budgetwisefinancial.com Copyright (c) 2014 BudgetWise Financial Solutions LLC

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