2013 Manage your Money

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Slides from the Manage Your Money keynote. Most Brits spend 130% of their take home pay and waste an average minimum of £1300 each year. A high percentage of retiring Brits are retiring with debt. The Manage Your Money indicator assesses to money management skills.

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2013 Manage your Money

  1. 1. Manage Your Money
  2. 2. Award winning business leadership coach, author, trainer I/O Psych Clients consistently achieve dramatic results Clients leave richer and feel uncagedAndrew Priestley Grad Dip Psych. B.Ed, FInstSMM
  3. 3. Where did youget your ideasabout money? 3
  4. 4. Write down ALL limiting beliefs about money Homework 40 minutes 4
  5. 5. Your annual turnover target?What’s you time worth per hour? What’s your hourly rate? What’s your ‘day rate’? What do you want to be paid? What ‘value’ do you bring? Homework 20 minutes 5
  6. 6. £1300The average amount Britstypically waste every year. 6
  7. 7. £325 | £25 per quarter per weekObvious | Hidden 7
  8. 8. 130% The typical Brit spends 130% of theirtake home after tax pay ... per week. 8
  9. 9. Spend > Earn Spending 9
  10. 10. EarnSpend S>E 10
  11. 11. What motivates you to be responsible with £? 11
  12. 12. Commonsense Fear SomeoneKick in the pants intervenes 4 motivators 12
  13. 13. Spend < EarnFinancial freedom is Spending < Earn 13
  14. 14. What do I spendmy money on exactly? 14
  15. 15. >95% <5% SaveSpend Spend SaveMost Brits spend THEN maybe save 15
  16. 16. I’ll do it later Live nowNot important No actual gain (enough) 4 reasons we don’t save 16
  17. 17. 10 not 2Most Brits think managing moneyis about ‘earning’ and ‘spending’Their are eight other money skills 17
  18. 18. Earning Spending Saving Investing Giving RegularEarned Income Fixed Property expenses Non Earned Variable Shares Charities Big expenses Income Hiddens Cash Tithing Emergencies Other Taxes Business Goals <Spending Pay yourself first! Giving should <Bad debt Invest in what Do NOT touch NOT hurt you! Increase £ <Money traps you know 3 months Gift Vs Loan (NB Tax) <Fees/charges Leverage reserves/buffer You are not <‘Loans=Gifts’ Costs/Tax an ATM/bank The 5 Money Laws 18
  19. 19. Take Track Target Trim Train Action! What do I need to What do I need toHow much do I earn, spend, What can I do What do I need to do in the next 90 earn? save, invest, without? know? days? give?Sources of all Spreadsheet Reduce Future day income forecast Eliminate Impulse control Baby steps Pay slips Budget Regulate Read 90 days Statements 90 day plans 90 days Courses 90 days 90 days The 5 Money Skills 19
  20. 20. 90 Most Brits can turn their money troubles around in 90 days... but you need a plan. 20
  21. 21. 10 20 70* Save 10% Reduce debts with 20% Live on 70%* Based on after-tax, take-home pay 21
  22. 22. Earning Spending Saving Investing GivingIncrease your Reduce your Do your income costs homework first > shifts Receipts for Get advice 2nd job everything!! 10/20/70 Give back An asset puts Dejunk, Spreadsheet money IN your E-Bay it! Negotiate your pocket bills 5 Basic Goals 22
  23. 23. Where are you now? You need to know where you are NOW WHERE you want to be in 12 months and what’s STOPPING you 23
  24. 24. Managing Your Money Indicator 24
  25. 25. Measures the 10 Skills 25
  26. 26. Overall feedback per Skill 26
  27. 27. Bespoke feedback per Skill 27
  28. 28. Bespoke feedback 28
  29. 29. Guidelines if you are in debt 29
  30. 30. Get the information You are wasting£1300+pa anyway! Clue: Obvious | Hiddens 30
  31. 31. Greater clarity: Where you are now Where you want to be Personal Finance What’s stopping you Strategy Session Clear Data: Your charts 5 Money Laws/5 Skills report 90 minutes/£250 Next steps: Skype 90 Day Plan/recommendations Delivered worldwide Milestones and Obstacles Support: 90 Day E-guideThe Personal Finance Strategy Session 31
  32. 32. MYMPersonal MYM QA QA & PDFFinance Report & ReportStrategy Feedback OnlySession Session £250 £97 £47 andrew@andrewpriestley.com 32
  33. 33. 1 2 3 4 5 90 day plans Get receipts and Stop! Dejunk!Future day once statements for Start! Say ‘No!’ Debt reduce a week everything Continue!80% of people Makes trackingare better off in targeting and Frees up RAM Read/research trimming easier Stop being a 90 days, feel Less is best Pay attention! doormat empowered, Discipline ARE richer Eye-opener Fast track ideas that work 33
  34. 34. Get started in your local library 34
  35. 35. Get started on your bank’s website 35
  36. 36. Great book: www.mymoneytree.com.au 36
  37. 37. Will you take action? 37
  38. 38. "Why didn’t I do this sooner?" Everyone who takes action. 38
  39. 39. www.andrewpriestley.com andrew@andrewpriestley.com Skype: priestley1 39

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