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Mastering Your Savings Plan


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Presentation gives a Three step approach to savings and budgeting.

Published in: Economy & Finance, Business
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Mastering Your Savings Plan

  1. 1. Mastering your Savings PlanThree step approach<br />
  2. 2. Three step approach…<br />Understanding<br />Keeping<br />Finding<br />
  3. 3. Understanding<br />
  4. 4. Understand well established facts…<br />Understand the sooner you start saving, the easier it will be to reach your goals.<br />Compounding is when your money makes money, and then that money makes money, and on and on.<br />
  5. 5. Understand Early Saving<br />$ 100/ Month<br />$ 450,478<br />43 Years<br />$ 255,824<br />No contributions<br />10 Years<br />$194,654<br />no contributions<br />33 Years<br />Age 22<br />Age 32<br />Age 65<br />
  6. 6. Understand Net Worth<br />Assets<br />Liabilities<br />Net Worth<br />
  7. 7. FINDING<br />
  8. 8. WHERE DO I LOOK?<br />Total Monthly Income<br />(Committed savings)<br />(Expenses)<br />(Discretionary cash flow)<br />This is how much more you can invest every month ! <br />
  9. 9. SMART MONEY TIPS <br />Pay yourself first<br />Contribute regularly to your 401(k) plan <br />Sign up for Automatic Savings Plan.<br />Pay off your High Interest Credit Cards<br />Budget for Unexpected Expenses<br />Set up an Emergency Fund<br />Cash reserve equal to three to six months of your take home pay.<br />
  10. 10. KEEPING<br />
  11. 11. SAVINGS V/S INVESTING<br />Savings<br />Help you meet Short Term needs.<br />Setting money aside<br />Savings Accounts<br />Money Market Account<br />Investing <br />Helps you meet Long Term goals<br />Assets with potential for future growth<br />Stocks & Bonds<br />Mutual funds,<br />Real Estate<br />Both have place in your Personal Financial Plan<br />
  12. 12. Thank you<br />