Session 1 Preparation Printversion

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Session 1 Preparation Printversion

  1. 1. Three Power Steps to Financial Success COGNIZANT TECHNOLOGY SOLUTIONS | 28-SEPTEMBER 2007 SAVE INVEST PROTECT
  2. 2. Success is Achieving Set Goals <ul><li>Set Goals </li></ul><ul><li>Save </li></ul><ul><li>Invest </li></ul><ul><li>Protect </li></ul><ul><li>Achieve Goals </li></ul>
  3. 3. We are Here <ul><li>Fundamentals of Financial Planning – 1 </li></ul><ul><li>Fundamentals of Financial Planning – 2 </li></ul><ul><li>Income Tax Management </li></ul><ul><li>The Way Forward </li></ul>
  4. 4. Fundamentals of Financial Planning – 1 <ul><li>Dreams </li></ul><ul><ul><li>Dreams give energy </li></ul></ul><ul><ul><li>Dreams are worth aspiring for </li></ul></ul><ul><ul><li>Dreams give a reason for Living </li></ul></ul><ul><ul><li>Dreams stimulate the Child in us. </li></ul></ul><ul><ul><li>Please fill the Worksheet for Dreams </li></ul></ul>Please fill the worksheet : Dreams
  5. 5. Goals <ul><ul><li>Goals are worth achieving </li></ul></ul><ul><ul><li>Goals are worth the effort you put in </li></ul></ul><ul><ul><li>Goals stimulate the Whole Body and Spirit </li></ul></ul><ul><ul><li>Please fill the Worksheet for Goals </li></ul></ul>Please fill the worksheet : Goals
  6. 6. Goal Setting <ul><li>Goals remain Dreams without Goal Setting </li></ul>Goals remain Dreams without Goal Setting
  7. 7. Understanding Where We Are Now assets liabilities incomes expenses
  8. 8. Understanding Where We Are Now.. <ul><li>Please take the Test on Assets </li></ul><ul><li>What they actually mean </li></ul><ul><ul><li>Asset – One that generates a POSITIVE Cash Flow </li></ul></ul><ul><ul><li>Liability – One that generate a NEGATIVE Cash Flow </li></ul></ul><ul><ul><li>Income – The Positive Cash Flows </li></ul></ul><ul><ul><li>Expenses – The Negative Cash Flows </li></ul></ul><ul><ul><li>* From the concepts of Robert Kiyosaki </li></ul></ul>
  9. 9. The Cash Flow Concept Liability Asset Expense Income
  10. 10. The Net Worth Chart <ul><li>The Net Worth is the Difference between the Total Assets and Total Liabilities </li></ul><ul><li>Based on the concept of assets and liabilities, please fill in your Net Worth Chart </li></ul>
  11. 11. The Cash Flow Chart <ul><li>The Cash Flow Chart is given to you, please enter details as applicable to the present situation. </li></ul><ul><li>What you have done now is prepare a Budget </li></ul><ul><li>Have you also found how and where your savings are going? </li></ul>
  12. 12. Cash is King <ul><li>Thinking about Personal Finance from the Businessman / Investor Point-of-View </li></ul><ul><ul><li>Why do you think Warren Buffet bought a used Rolls Royce 6 months ago? </li></ul></ul><ul><ul><li>Why do you think Tata Steel bought Corus rather than build a company on its own? </li></ul></ul><ul><ul><li>Why do you think Jet Airways leased its aircrafts when it began its business? </li></ul></ul>
  13. 13. Successful Budgets Are... <ul><li>Well planned </li></ul><ul><li>Realistic </li></ul><ul><li>Flexible </li></ul><ul><li>Clearly communicated </li></ul>
  14. 14. CONTROLLING YOUR SPENDING <ul><li>Budget and stick to it </li></ul><ul><li>Learn to say “NO” </li></ul><ul><li>Learn to go “Dutch” with friends </li></ul><ul><li>Don’t have too many credit cards </li></ul><ul><li>Use a line of credit not a loan </li></ul><ul><li>Stop impulse buying – Carry a shopping list </li></ul><ul><li>“ Do you really need it?” </li></ul><ul><li>Don’t go shopping </li></ul><ul><li>Control dining out </li></ul><ul><li>Don’t carry cash </li></ul><ul><li>Pay down debt ASAP so you can do other things </li></ul>
  15. 15. Take Away <ul><li>Concept of Assets & Liabilities based on Cash Flow </li></ul><ul><li>Personal Net Worth </li></ul><ul><li>Present Budget </li></ul>
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