Myths and Realities of Personal Finance The Finerva approach for Young Adults
What are your dreams? <ul><li>Dream   BIG </li></ul><ul><li>Dream in   C O L O U R S </li></ul><ul><li>Dream  with   Smell...
WRITE YOUR DREAMS IN THE WORKSHEET
This workshop aims <ul><li>To help you Refine your dreams </li></ul><ul><li>To help you Achieve your dreams </li></ul>
What has been your short term goal? <ul><li>Finish your Course with good marks </li></ul><ul><li>Get a good job </li></ul>...
What do you plan to do with your first salary? Fill the Worksheet titled “My First Budget”
The way forward… <ul><li>Check if your first salary has contributed in any way towards your dreams </li></ul><ul><li>Don’t...
Convert the Dreams to Goals  S - SPECIFIC M - MEASURABLE A - ACHIEVABLE R – REALISTIC T- TIME BOUND SMART
Clarifications on Goals ???
Set Your Goals  <ul><li>We are in this workshop concerned with the financial side of your goals. </li></ul><ul><li>Convert...
Meditate
<ul><li>Use the worksheet  </li></ul><ul><li>“  My Smart Goals” </li></ul>
Achieving the Goals <ul><li>Planning  </li></ul><ul><li>Implementation </li></ul><ul><li>Review </li></ul><ul><li>Fine tun...
Thank You… <ul><li>See you tomorrow with your worksheets </li></ul>
Planning <ul><li>Know your beliefs </li></ul><ul><ul><li>Safest option in life is to get a secure job and stay  </li></ul>...
Break the Myths <ul><li>What are Assets? </li></ul><ul><li>Please fill the worksheet </li></ul><ul><ul><li>“ What are Asse...
Myth: Any investment with an element of risk is bad <ul><li>Other factors also to be considered while investing  </li></ul...
Myth: I will get pension when I retire   I am too young –  I don’t need retirement planning . <ul><li>Expenses at the time...
Calculate your Pension requirement using the   “Retirement Planner Worksheet ”
Belief: I don’t believe in Insurance   <ul><li>Do you love your family members? </li></ul><ul><li>Only till you are alive ...
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Bsmed Myths Of Pf

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Bsmed Myths Of Pf

  1. 1. Myths and Realities of Personal Finance The Finerva approach for Young Adults
  2. 2. What are your dreams? <ul><li>Dream BIG </li></ul><ul><li>Dream in C O L O U R S </li></ul><ul><li>Dream with Smells </li></ul><ul><li> Dream how you Feel </li></ul><ul><li>Dream what you think </li></ul><ul><li>Dream about the people around you </li></ul>
  3. 3. WRITE YOUR DREAMS IN THE WORKSHEET
  4. 4. This workshop aims <ul><li>To help you Refine your dreams </li></ul><ul><li>To help you Achieve your dreams </li></ul>
  5. 5. What has been your short term goal? <ul><li>Finish your Course with good marks </li></ul><ul><li>Get a good job </li></ul><ul><li>Get a very good salary </li></ul>
  6. 6. What do you plan to do with your first salary? Fill the Worksheet titled “My First Budget”
  7. 7. The way forward… <ul><li>Check if your first salary has contributed in any way towards your dreams </li></ul><ul><li>Don’t let even one day pass without doing something to make your dreams come true. </li></ul><ul><li>Many dreams have remained just that for the lack of action and direction. </li></ul>
  8. 8. Convert the Dreams to Goals S - SPECIFIC M - MEASURABLE A - ACHIEVABLE R – REALISTIC T- TIME BOUND SMART
  9. 9. Clarifications on Goals ???
  10. 10. Set Your Goals <ul><li>We are in this workshop concerned with the financial side of your goals. </li></ul><ul><li>Convert your goals to financial numbers. </li></ul>
  11. 11. Meditate
  12. 12. <ul><li>Use the worksheet </li></ul><ul><li>“ My Smart Goals” </li></ul>
  13. 13. Achieving the Goals <ul><li>Planning </li></ul><ul><li>Implementation </li></ul><ul><li>Review </li></ul><ul><li>Fine tuning </li></ul><ul><li>Achieving </li></ul>
  14. 14. Thank You… <ul><li>See you tomorrow with your worksheets </li></ul>
  15. 15. Planning <ul><li>Know your beliefs </li></ul><ul><ul><li>Safest option in life is to get a secure job and stay </li></ul></ul><ul><ul><li>Only doctors make a lot of money </li></ul></ul><ul><ul><li>Sale! Sale! I buy always when there is a sale </li></ul></ul><ul><ul><li>I will never understand how investing works </li></ul></ul><ul><ul><li>They have a big house, they must be rich… </li></ul></ul><ul><ul><li>There is not enough money for everyone to be rich </li></ul></ul><ul><ul><li>People who make mistakes are stupid </li></ul></ul><ul><ul><li>Fixed deposits are safer than stocks </li></ul></ul><ul><ul><li>I will never be rich… </li></ul></ul><ul><ul><li>Investing in stocks is gambling. </li></ul></ul><ul><ul><li>Only crooks become crorepathis </li></ul></ul>
  16. 16. Break the Myths <ul><li>What are Assets? </li></ul><ul><li>Please fill the worksheet </li></ul><ul><ul><li>“ What are Assets?” </li></ul></ul>
  17. 17. Myth: Any investment with an element of risk is bad <ul><li>Other factors also to be considered while investing </li></ul><ul><ul><li>Returns </li></ul></ul><ul><ul><li>Liquidity </li></ul></ul><ul><ul><li>Valuation Visibility </li></ul></ul><ul><ul><li>Taxation </li></ul></ul>
  18. 18. Myth: I will get pension when I retire I am too young – I don’t need retirement planning . <ul><li>Expenses at the time of retirement </li></ul><ul><li>Skill set for retirement </li></ul><ul><li>Power of Compounding </li></ul><ul><li>Please see the content – “Retirement Planning – The earlier the better </li></ul>
  19. 19. Calculate your Pension requirement using the “Retirement Planner Worksheet ”
  20. 20. Belief: I don’t believe in Insurance <ul><li>Do you love your family members? </li></ul><ul><li>Only till you are alive or till they are alive </li></ul><ul><li>Please use the worksheet “Insurance Requirement Planner” </li></ul>
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