This document outlines a 30 step path to financial wellness. It begins by having the reader examine their attitudes about money and take a pledge to improve their financial situation. It then guides the reader to assess their current financial situation through a short quiz. Finally, it encourages the reader to get organized by clearing out financial clutter and setting themselves up for success by appointing a family financial organizer. The overall document provides steps and guidance to help the reader develop healthy financial habits and work towards financial wellness.
If you are wondering how to improve your credit score, then there are some habits that you need to adopt to build your credit history and improve your credit score.
Website - https://decs-wekilldebt.com
The document provides information on credit basics, debt-to-income ratios, the 5 Cs of credit, establishing credit, improving credit, managing debt, and getting ready to apply for credit. It discusses key credit concepts such as credit reports, credit scores, debt-to-income ratios, and the components that make up good credit. It offers tips for establishing credit as a beginner, improving an existing credit profile, managing debt through options like consolidation, and steps to take before applying for new credit.
Chapter one Person finance 1 website.pptssuser0f06781
This document discusses creating a personal financial plan. It emphasizes that financial goals should drive the plan and having clear goals is important. A good financial plan includes seven key components: budgeting, managing liquidity, financing large purchases, managing risk, investing, planning for retirement, and record keeping. The first component discussed is budgeting, which involves determining net worth, establishing income, and identifying expenses. Managing liquidity or cash flow is also important, including decisions around credit use and credit management. Different types of credit like installment plans and credit cards are outlined. Overall, the document provides an overview of the important elements to include when creating a personalized financial plan.
Picking Up The Pieces: Rebuilding Your Credit After Financial DisasterCurtis Rose
It happens to many people sooner or later: a financial challenge knocks you down and your credit goes down with you. How can you stop the descending spiral of financial collapse?
The good news is: while it does take some time and effort, even the worst credit can be salvaged and be well above average again within 12 months!
This special report details strategies that will get you back on a positive financial track and help you rebuild your credit quickly.
This document discusses money management strategies including creating and using financial statements and budgets. It covers creating balance sheets and cash flow statements to track assets/liabilities and income/expenses. Budgeting is presented as a key tool to help spend within your means and save towards goals. Automatic savings techniques and tracking expenses are recommended to effectively manage finances.
Are you tired of struggling with bad credit? Dti Financial Literacy is here to help you fix your credit and restore your finances. Our comprehensive program will guide you through the steps to improve your credit score and regain control of your financial future. Don't let bad credit hold you back any longer – start your journey towards financial freedom today!
Website - https://dtifinancialliteracy.com/
Dentists commonly make mistakes that can jeopardize their retirement. The top three mistakes are: not tracking spending, paying off debts without a strategy, and not automating investment programs. To fix these, dentists should use apps to track spending, develop a debt repayment plan that considers factors like refinancing and borrowing against assets, and automate monthly investments into retirement accounts from practice earnings. Automating investments is key to building wealth for a secure retirement.
If you are wondering how to improve your credit score, then there are some habits that you need to adopt to build your credit history and improve your credit score.
Website - https://decs-wekilldebt.com
The document provides information on credit basics, debt-to-income ratios, the 5 Cs of credit, establishing credit, improving credit, managing debt, and getting ready to apply for credit. It discusses key credit concepts such as credit reports, credit scores, debt-to-income ratios, and the components that make up good credit. It offers tips for establishing credit as a beginner, improving an existing credit profile, managing debt through options like consolidation, and steps to take before applying for new credit.
Chapter one Person finance 1 website.pptssuser0f06781
This document discusses creating a personal financial plan. It emphasizes that financial goals should drive the plan and having clear goals is important. A good financial plan includes seven key components: budgeting, managing liquidity, financing large purchases, managing risk, investing, planning for retirement, and record keeping. The first component discussed is budgeting, which involves determining net worth, establishing income, and identifying expenses. Managing liquidity or cash flow is also important, including decisions around credit use and credit management. Different types of credit like installment plans and credit cards are outlined. Overall, the document provides an overview of the important elements to include when creating a personalized financial plan.
Picking Up The Pieces: Rebuilding Your Credit After Financial DisasterCurtis Rose
It happens to many people sooner or later: a financial challenge knocks you down and your credit goes down with you. How can you stop the descending spiral of financial collapse?
The good news is: while it does take some time and effort, even the worst credit can be salvaged and be well above average again within 12 months!
This special report details strategies that will get you back on a positive financial track and help you rebuild your credit quickly.
This document discusses money management strategies including creating and using financial statements and budgets. It covers creating balance sheets and cash flow statements to track assets/liabilities and income/expenses. Budgeting is presented as a key tool to help spend within your means and save towards goals. Automatic savings techniques and tracking expenses are recommended to effectively manage finances.
Are you tired of struggling with bad credit? Dti Financial Literacy is here to help you fix your credit and restore your finances. Our comprehensive program will guide you through the steps to improve your credit score and regain control of your financial future. Don't let bad credit hold you back any longer – start your journey towards financial freedom today!
Website - https://dtifinancialliteracy.com/
Dentists commonly make mistakes that can jeopardize their retirement. The top three mistakes are: not tracking spending, paying off debts without a strategy, and not automating investment programs. To fix these, dentists should use apps to track spending, develop a debt repayment plan that considers factors like refinancing and borrowing against assets, and automate monthly investments into retirement accounts from practice earnings. Automating investments is key to building wealth for a secure retirement.
The document provides guidance on taking control of personal finances through developing and implementing an effective financial plan. It outlines three main steps: 1) developing a clear understanding of one's current financial situation through creating a budget, 2) setting and prioritizing financial goals, and 3) implementing appropriate saving and investment strategies tailored to goals. Additional topics covered include managing debt and credit, understanding credit reports, and the potential benefits of working with a financial professional.
This document provides five steps to becoming debt-free: 1) Learn your current financial situation by reviewing credit reports and understanding your credit score. 2) Create a realistic budget that allocates at least 10% of income to debt payments. 3) Talk to lenders about lowering interest rates or refinancing loans. 4) Look for ways to reduce discretionary spending through small lifestyle changes. 5) Prioritize paying off debts from most to least valuable assets, focusing on high-interest debts first. The overall goal is to eliminate debt payments and interest expenses to free up cash flow.
This document provides an overview of personal credit and credit scores. It defines credit as borrowing money that must be repaid over time, with interest. The benefits of credit include purchasing power and establishing a credit history, while risks include debt, fees, and damage to one's credit if not repaid. The "four C's" that lenders evaluate are credit history, collateral, capacity to repay, and current conditions. It also discusses credit reports, credit scores, responsible credit management, and why maintaining good credit is important.
The document provides information on setting financial goals and maintaining good financial habits such as organizing financial records, monitoring debt-to-income ratios, understanding credit reports and credit scores, and repairing credit. It emphasizes the importance of writing down goals, tracking spending, paying bills on time, and disputing any incorrect information on credit reports to achieve financial stability and qualify for loans and credit cards.
This document provides information on various homeownership topics including the mortgage process, types of mortgages, credit management, foreclosure, and protecting your investment. It defines key mortgage terms, explains fixed and adjustable rate mortgages, describes the components of a credit score and how to manage credit, outlines the foreclosure process and alternatives, and reviews different types of homeowners insurance. The document aims to educate homeowners and potential buyers on essential financial literacy concepts related to purchasing and maintaining a home.
This document outlines strategies for paying off a mortgage faster using principles of debt shrinkage. It discusses focusing income towards the mortgage by using salary credit direct to the home loan account. Using an offset account is recommended to reduce interest charges. Spending on credit cards within interest free periods and paying them off in full each month is suggested to utilize free bank money. Extra repayments above the minimum are shown to dramatically reduce total interest costs over the life of a loan through examples. Getting help from a debt shrink specialist is offered.
Mark Lesinski Hamburg NY - A credit score in the United States is a number representing the creditworthiness of a person, the likelihood that person will pay his or her debts. Credit scores are designed to measure the risk of default by taking into account various factors in a person's financial history. Today, because of the credit crisis having a high credit score is more crucial than it has ever been.
This document provides tips for improving your credit in preparation for a home loan application. It recommends using Think Credit Reports to monitor your credit reports and scores from all three bureaus. When preparing to apply for financing, consumers should keep old credit lines open, use credit cards occasionally to show responsible use of available credit, and avoid applying for new credit or loans in the six months prior to their mortgage application. Resolving any inaccuracies on credit reports is also important.
Tips On How You Can Go From A Negative Credit Rating To A Positive Credit Rat...The Credit Redeemer
If you’ve ever wondered how credit repair companies can be so effective at improving your credit rating, you’re probably asking yourself what exactly the top credit repair companies are doing behind the scenes that you aren’t. Fortunately, there are plenty of helpful tips on how to improve your credit score available on the Internet that will tell you exactly what these companies do. You just have to find them!
Website - https://thecreditredeemer.com/
How to build an impressive credit report pptRakhi Singh
It is very helpful when one cultivates good financial habits. When you incorporate these habits on a regular basis, your routine will be healthy and simple. Financial habits will enable you to make wise financial decisions and will also help you make great returns. Following these habits will give you a sense of assurance that your financial future is safe and sound.
The document discusses cash management and cash flow for businesses. It defines cash and cash equivalents, and explains their importance for businesses. It also discusses how to forecast cash needs through budgets and planning for cash receipts and disbursements. Additionally, the document provides tips for managing cash flows, including increasing inflows and decreasing outflows, and strategies for handling cash shortages.
This document outlines a three-step strategy to help reduce debt. Step 1 is to track spending for three months to understand where money is going and compare expenses to income. Step 2 is to stop using credit cards and pay off the highest interest debt first while consolidating other debts. Step 3 is to build savings by setting up separate savings accounts for emergencies, family expenses, and long-term goals and redirecting debt payments towards growing savings instead of going back into debt. Following this plan can help control cash flow, pay off debt over time, and encourage saving to better handle future expenses.
Personal Financial Statements and BudgetingARAVINDR951741
This document provides information about personal financial statements, budgeting, taxes, and savings. It discusses creating a personal balance sheet listing assets and liabilities to determine net worth. It also covers creating a personal budget that tracks income versus expenses and a cash flow statement showing cash inflows and outflows. Common budgeting methods like the 50/30/20 rule and envelope system are explained. The document also discusses investment management, different types of savings accounts and investments, direct and indirect taxes, and ways to reduce tax liability through deductions specified in the Indian Income Tax Act.
This document provides information about credit reports, scores, and managing credit. It discusses the factors that affect credit scores like payment history, credit utilization, and credit inquiries. It also debunks common myths about credit and provides tips for building credit from scratch, protecting identity, and maintaining good credit over time. The document is an informative guide for understanding credit reports and scores.
The document provides guidance to entrepreneurs on obtaining capital from banks. It discusses how banks review loan requests and what information they require, including business and personal financial statements. It emphasizes the importance of being an "offensive borrower" by regularly reviewing financials and tax filings, and establishing banking relationships before needing funds. The document compares cash-based and accrual-based accounting and advises entrepreneurs to provide accrual-based financial statements when requesting loans.
This document provides tips and instructions for building good credit, getting out of debt, and managing money. It recommends paying all bills on time, avoiding going over credit limits, and canceling unused credit cards to build credit. To get out of debt, it suggests cutting up credit cards, lowering interest rates, transferring balances to lower interest cards, and paying off highest interest debts first. Money management tips include tracking spending, creating a budget including fun money, pacing spending, and being careful with credit cards.
This document provides a guide to understanding credit reports and maintaining a healthy credit score. It discusses the key components of a credit report including personal information, credit accounts, inquiries, and public records. It then outlines factors that affect credit scores such as payment history, credit utilization, length of credit history, and types of credit. The document concludes by providing tips for keeping credit in good standing such as paying bills on time, negotiating delinquencies, and using MyFico.com to monitor credit scores.
Eight out of 10 businesses fail within the first 18 months, and 96 percent of businesses fail within ten years. A company may have all the revenue in the world, but without the ability to generate and maintain cash, it will likely fail. This document provides proven methods for increasing business cash flow.
Why do such a high percentage of businesses fail? More often than not it is due to cash flow issues. Without the proper amount of money on hand, companies can run into serious trouble and even be forced into bankruptcy. In the business world, cash is king.
This document discusses steps for rebuilding one's finances after declaring bankruptcy. It recommends checking credit reports for accuracy, rebuilding credit history with a secured credit card, and establishing an emergency fund. If given the chance to re-age past-due accounts, one should document any agreement in writing and commit to making on-time payments going forward to take full advantage of the fresh start. Re-aging can wipe out late payments but the individual still owes the full balance and must demonstrate renewed ability and willingness to repay debts.
The document contains a pre-test for an employee orientation covering various topics in organizational management. It includes 30 multiple choice questions addressing concepts like organizational structure, the roles of different managers, leadership styles, organizational culture and communication, performance management, and theories of management. The pre-test aims to evaluate the employee's basic understanding of key terms and frameworks commonly used in organizational management.
The document provides guidance on taking control of personal finances through developing and implementing an effective financial plan. It outlines three main steps: 1) developing a clear understanding of one's current financial situation through creating a budget, 2) setting and prioritizing financial goals, and 3) implementing appropriate saving and investment strategies tailored to goals. Additional topics covered include managing debt and credit, understanding credit reports, and the potential benefits of working with a financial professional.
This document provides five steps to becoming debt-free: 1) Learn your current financial situation by reviewing credit reports and understanding your credit score. 2) Create a realistic budget that allocates at least 10% of income to debt payments. 3) Talk to lenders about lowering interest rates or refinancing loans. 4) Look for ways to reduce discretionary spending through small lifestyle changes. 5) Prioritize paying off debts from most to least valuable assets, focusing on high-interest debts first. The overall goal is to eliminate debt payments and interest expenses to free up cash flow.
This document provides an overview of personal credit and credit scores. It defines credit as borrowing money that must be repaid over time, with interest. The benefits of credit include purchasing power and establishing a credit history, while risks include debt, fees, and damage to one's credit if not repaid. The "four C's" that lenders evaluate are credit history, collateral, capacity to repay, and current conditions. It also discusses credit reports, credit scores, responsible credit management, and why maintaining good credit is important.
The document provides information on setting financial goals and maintaining good financial habits such as organizing financial records, monitoring debt-to-income ratios, understanding credit reports and credit scores, and repairing credit. It emphasizes the importance of writing down goals, tracking spending, paying bills on time, and disputing any incorrect information on credit reports to achieve financial stability and qualify for loans and credit cards.
This document provides information on various homeownership topics including the mortgage process, types of mortgages, credit management, foreclosure, and protecting your investment. It defines key mortgage terms, explains fixed and adjustable rate mortgages, describes the components of a credit score and how to manage credit, outlines the foreclosure process and alternatives, and reviews different types of homeowners insurance. The document aims to educate homeowners and potential buyers on essential financial literacy concepts related to purchasing and maintaining a home.
This document outlines strategies for paying off a mortgage faster using principles of debt shrinkage. It discusses focusing income towards the mortgage by using salary credit direct to the home loan account. Using an offset account is recommended to reduce interest charges. Spending on credit cards within interest free periods and paying them off in full each month is suggested to utilize free bank money. Extra repayments above the minimum are shown to dramatically reduce total interest costs over the life of a loan through examples. Getting help from a debt shrink specialist is offered.
Mark Lesinski Hamburg NY - A credit score in the United States is a number representing the creditworthiness of a person, the likelihood that person will pay his or her debts. Credit scores are designed to measure the risk of default by taking into account various factors in a person's financial history. Today, because of the credit crisis having a high credit score is more crucial than it has ever been.
This document provides tips for improving your credit in preparation for a home loan application. It recommends using Think Credit Reports to monitor your credit reports and scores from all three bureaus. When preparing to apply for financing, consumers should keep old credit lines open, use credit cards occasionally to show responsible use of available credit, and avoid applying for new credit or loans in the six months prior to their mortgage application. Resolving any inaccuracies on credit reports is also important.
Tips On How You Can Go From A Negative Credit Rating To A Positive Credit Rat...The Credit Redeemer
If you’ve ever wondered how credit repair companies can be so effective at improving your credit rating, you’re probably asking yourself what exactly the top credit repair companies are doing behind the scenes that you aren’t. Fortunately, there are plenty of helpful tips on how to improve your credit score available on the Internet that will tell you exactly what these companies do. You just have to find them!
Website - https://thecreditredeemer.com/
How to build an impressive credit report pptRakhi Singh
It is very helpful when one cultivates good financial habits. When you incorporate these habits on a regular basis, your routine will be healthy and simple. Financial habits will enable you to make wise financial decisions and will also help you make great returns. Following these habits will give you a sense of assurance that your financial future is safe and sound.
The document discusses cash management and cash flow for businesses. It defines cash and cash equivalents, and explains their importance for businesses. It also discusses how to forecast cash needs through budgets and planning for cash receipts and disbursements. Additionally, the document provides tips for managing cash flows, including increasing inflows and decreasing outflows, and strategies for handling cash shortages.
This document outlines a three-step strategy to help reduce debt. Step 1 is to track spending for three months to understand where money is going and compare expenses to income. Step 2 is to stop using credit cards and pay off the highest interest debt first while consolidating other debts. Step 3 is to build savings by setting up separate savings accounts for emergencies, family expenses, and long-term goals and redirecting debt payments towards growing savings instead of going back into debt. Following this plan can help control cash flow, pay off debt over time, and encourage saving to better handle future expenses.
Personal Financial Statements and BudgetingARAVINDR951741
This document provides information about personal financial statements, budgeting, taxes, and savings. It discusses creating a personal balance sheet listing assets and liabilities to determine net worth. It also covers creating a personal budget that tracks income versus expenses and a cash flow statement showing cash inflows and outflows. Common budgeting methods like the 50/30/20 rule and envelope system are explained. The document also discusses investment management, different types of savings accounts and investments, direct and indirect taxes, and ways to reduce tax liability through deductions specified in the Indian Income Tax Act.
This document provides information about credit reports, scores, and managing credit. It discusses the factors that affect credit scores like payment history, credit utilization, and credit inquiries. It also debunks common myths about credit and provides tips for building credit from scratch, protecting identity, and maintaining good credit over time. The document is an informative guide for understanding credit reports and scores.
The document provides guidance to entrepreneurs on obtaining capital from banks. It discusses how banks review loan requests and what information they require, including business and personal financial statements. It emphasizes the importance of being an "offensive borrower" by regularly reviewing financials and tax filings, and establishing banking relationships before needing funds. The document compares cash-based and accrual-based accounting and advises entrepreneurs to provide accrual-based financial statements when requesting loans.
This document provides tips and instructions for building good credit, getting out of debt, and managing money. It recommends paying all bills on time, avoiding going over credit limits, and canceling unused credit cards to build credit. To get out of debt, it suggests cutting up credit cards, lowering interest rates, transferring balances to lower interest cards, and paying off highest interest debts first. Money management tips include tracking spending, creating a budget including fun money, pacing spending, and being careful with credit cards.
This document provides a guide to understanding credit reports and maintaining a healthy credit score. It discusses the key components of a credit report including personal information, credit accounts, inquiries, and public records. It then outlines factors that affect credit scores such as payment history, credit utilization, length of credit history, and types of credit. The document concludes by providing tips for keeping credit in good standing such as paying bills on time, negotiating delinquencies, and using MyFico.com to monitor credit scores.
Eight out of 10 businesses fail within the first 18 months, and 96 percent of businesses fail within ten years. A company may have all the revenue in the world, but without the ability to generate and maintain cash, it will likely fail. This document provides proven methods for increasing business cash flow.
Why do such a high percentage of businesses fail? More often than not it is due to cash flow issues. Without the proper amount of money on hand, companies can run into serious trouble and even be forced into bankruptcy. In the business world, cash is king.
This document discusses steps for rebuilding one's finances after declaring bankruptcy. It recommends checking credit reports for accuracy, rebuilding credit history with a secured credit card, and establishing an emergency fund. If given the chance to re-age past-due accounts, one should document any agreement in writing and commit to making on-time payments going forward to take full advantage of the fresh start. Re-aging can wipe out late payments but the individual still owes the full balance and must demonstrate renewed ability and willingness to repay debts.
Similar to 30-step-path-to-financial-wellness.pdf (20)
The document contains a pre-test for an employee orientation covering various topics in organizational management. It includes 30 multiple choice questions addressing concepts like organizational structure, the roles of different managers, leadership styles, organizational culture and communication, performance management, and theories of management. The pre-test aims to evaluate the employee's basic understanding of key terms and frameworks commonly used in organizational management.
The document discusses the Universal Declaration of Human Rights which was adopted by the UN General Assembly in 1948. It establishes fundamental human rights that everyone is inherently entitled to, such as the right to life, liberty, security, freedom from discrimination, and more. It describes the characteristics of human rights and several specific rights protected in various articles. It also discusses some human rights issues in the Philippines and lists several local and international human rights organizations.
This document outlines the Flag and Heraldic Code of the Philippines which establishes regulations for proper use and display of the national flag. Some key points:
- It prescribes the design of the flag including the colors, sun, and stars.
- It mandates display of the flag in all government buildings and provides guidelines for half-mast and funeral use.
- It establishes flag days and ceremonies including rules for conduct during anthem and raising/lowering of the flag.
- Pledge of allegiance to the flag is also outlined.
- Technical specifications for dimensions and colors of the flag are defined.
This document provides information about voter citizenship and the voting process in the Philippines. It discusses the right to suffrage according to the Philippine constitution and international agreements. Citizens aged 18 and older who have lived in the Philippines for at least a year have the right to vote. The document outlines voter qualifications and disqualifications. It also describes how Filipino citizens vote and provides action points for voters before, during, and after elections, including registering to vote, being informed on issues and candidates, protecting vote integrity, and civic participation post-election.
The document defines reorder point (ROP) and safety stock, and provides formulas to calculate each. ROP is the inventory level at which replenishment is needed, and is calculated as the lead time multiplied by average daily sales plus the safety stock. Safety stock provides a buffer for fluctuations in demand, and is calculated as the maximum daily sales minus average daily sales, both multiplied by their respective maximum and average lead times. Several examples are provided to demonstrate calculating ROP using given sales volumes and lead times.
The document defines and provides formulas for calculating days of inventory outstanding (DIO) and sell-through rate (STR). DIO measures the average number of days inventory is held before being sold, with a lower number being better. STR measures inventory sold as a percentage of inventory available. The document then provides examples of calculating DIO and STR based on various company inventory and sales data.
Here are the steps to solve this example:
1) Given: FC = $6,000, VC per unit = $2, Revenue per unit = $7
2) To find breakeven point (QBEP):
QBEP = FC / (Revenue per unit - VC per unit)
= $6,000 / ($7 - $2)
= $6,000 / $5
= 1,200 units
3) If units produced = 1,000 units:
TR = Units * Revenue per unit = 1,000 * $7 = $7,000
TC = FC + Units * VC per unit = $6,000 + 1,000 * $2 = $
This chapter discusses key concepts in product and service design including:
1. The strategic importance of design and identifying reasons for redesign like market opportunities.
2. The main questions, sources of ideas, and considerations in design like legal issues, ethics, and sustainability.
3. The phases of product design and key issues in manufacturing and service design.
4. Characteristics of well-designed service systems and challenges in service design.
The document discusses forecasting techniques. It outlines the learning objectives which include listing elements of a good forecast, describing qualitative and quantitative forecasting approaches, and explaining measures of forecast accuracy. The document also describes various forecasting techniques such as qualitative judgmental forecasts, quantitative time-series forecasts including naive forecasts, moving averages, weighted moving averages, exponential smoothing, and linear trend analysis. It provides examples and discusses advantages and disadvantages of each technique.
The document discusses capital budgeting techniques used to evaluate investment projects. It covers net present value (NPV), internal rate of return (IRR), and discounted cash flow analysis. NPV is calculated by taking the present value of future cash inflows and subtracting the present value of cash outflows. IRR is the discount rate at which NPV equals zero. When evaluating projects, firms seek to accept projects with positive NPV or IRR higher than the required rate of return or cost of capital. The examples demonstrate calculating NPV and IRR for sample projects at different discount rates to determine if the projects should be accepted or rejected.
This document discusses project selection and management. It covers key topics like strategic management and criteria for selecting projects, project selection models, dealing with uncertainty and risk, and using a project portfolio process. Numeric models for project selection include those based on factors like profitability, payback period, net present value, and internal rate of return. Non-numeric models include those based on necessity, fit with product lines, and comparative benefits. The document also addresses balancing project portfolios, developing project proposals, and evaluating selection factors like production, marketing, finances, personnel and administration.
This document discusses key concepts related to costing and pricing for a women's group. It explains that calculating costs is essential to determine the costs of products, control expenses, and make pricing decisions. Variable costs vary with production while fixed costs remain the same. The break-even point helps with decisions about production levels and pricing. Understanding these costing concepts and applying them to pricing will help the group ensure profitability.
This document discusses project selection and management. It covers key topics like strategic management and criteria for selecting projects, project selection models, dealing with uncertainty and risk, and using a project portfolio process. Numeric models for project selection include those based on factors like profitability, payback period, net present value, and internal rate of return. Non-numeric models include those based on necessity, fit with product lines, and comparative benefits. The project portfolio process aims to identify and prioritize projects that meet strategic needs and balance organizational resources and risks.
The document discusses factors that affect pricing strategies, including supply and demand, competition, customer behavior, costs, brand image, and target market demographics. It also outlines challenges companies may face in developing pricing strategies, such as a lack of data, resistance to change, and an inability to communicate value. Finally, it emphasizes that customer and process analytics can help companies understand customer preferences to set optimal prices that maximize profits while delivering value.
This document provides an overview of an international business and trade course. It discusses topics like globalization, economics, trade, foreign investment, and regional integration. It also defines key terms and concepts, and describes how technological innovation and falling trade barriers have contributed to increasing globalization and interdependence among national economies. Companies of all sizes now participate in international business to access new markets and optimize their global operations.
The document discusses pricing structures and strategies. It defines a pricing structure as how a company sets up prices for products and services, including core price points, discounts, and strategy. There are different types of pricing structures like competitive, prestige, profitability, and volume pricing. The document then outlines a five step process to create a pricing structure: 1) do research on customers, competitors, and the market; 2) define success metrics; 3) find a base price; 4) develop pricing models; and 5) experiment. It also explains the differences between pricing structures, which organize prices, and pricing strategies, which are approaches to maximize sales and profits. Some common strategies discussed are premium, penetration, price skimming, economy,
This document discusses pricing strategies over a product's life cycle. It outlines the four stages of a product life cycle: introduction, growth, maturity, and decline. For each stage, it provides pricing strategies and considerations. For example, in the introduction stage prices can be set high if the product is unique, or low to attract customers and compete if the market already has alternatives. In maturity, discounts and promotions can create curiosity to combat saturation. The goal is to understand how pricing impacts sales and profits at each phase of a product's time in the market.
The marketing communication process involves a sender encoding a message and transmitting it through a mechanism to receive feedback and response, which the receiver then decodes. Micro-models of marketing focus on how consumers typically progress through cognitive, affective, and behavioral stages in response to communication.
global trading environment in international businessryan gementiza
This chapter discusses the global trading environment and political risks faced by multinational corporations. It covers topics like trade liberalization, foreign direct investment, preferential trade agreements, and the role of multinational corporations in technology transfer. MNCs contribute to technology transfer in developing countries by providing resources and innovations to improve productivity. However, they also face political risks from government intervention, acts of violence, and instability in host countries. The chapter provides an overview of the key concepts and debates around the global economy and operations of international businesses.
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
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General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
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LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
3. financial
literacy
YOUR 30 STEP
PATH TO FINANCIAL
WELLNESS
contents
• Front Cover
• 30 Steps
• Table of Contents
1 Take the pledge
2 Assess your financial situation
3 Clearing out financial clutter
4 Set yourself up for success
5 Get copies of your credit reports
6 Clean up your credit report
7 Make your money count
8 Identify your starting point
9 Do you pass the debt test?
10 Set your priorities
11 Set SMART financial goals
12 Set short-, mid-, and long-term goals
13 Paying down debt is a smart financial move
14 Expect the unexpected
15 Securing your financial future
16 Make a commitment
17 Save for your goals
18 Where does all the money go?
19 Identify and document your fixed monthly expenses
20 Identify and plan for periodics
21 Document your spending
22 Identify ways to reduce spending
23 Save money on groceries
24 Share a tip for change
25 Document your desired spending
26 Protect yourself by performing financial check-ups
27 Understand the cost of credit
28 Assemble a financial team
29 Appreciate the benefits
30 Moving forward
• About Money Management International
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4. The first and most important step in developing and following a financial plan is to examine your attitudes about money. Are you ready to
accept responsibility for changing your financial situation? Do you believe that you can and will change the way you make financial decisions?
Can you identify at least one benefit you hope to gain by changing your money management behavior?
You are definitely ready and able to start your path to financial wellness; if you are also willing, take the pledge!
If you consistently answered yes, pledge to continue on the path to financial wellness:
1. I will make informed financial decisions, understanding the difference between wants and needs.
2. I will communicate with my family about money matters so that we are all working toward the same goals.
3. I will be aware of the effects of advertising on the financial decisions I make, and resolve not to be influenced by them.
4. I will take care of my finances today by tracking expenses and creating a budget that is flexible and realistic.
5. I will take care of my finances tomorrow by saving for my future.
6. I will meet the credit obligations I have made on time and as agreed.
7. I will continue my personal education about financial health, budgeting, credit, and personal debt.
8. I will plan for periodic expenses, including the next holiday season.
9. By good example, I will teach my children the importance of budgeting, saving, and the wise use of credit.
10. If I am over-obligated, I will take the necessary steps to seek assistance.
Take the pledge
Ready, Willing and Able to take financial responsibility
Are you ready to accept responsibility for changing your financial situation?
Do you believe that you can and will change the way you make financial decisions?
Can you identify at least one benefit you hope to gain by changing your money management behavior?
Commitment to change
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I pledge to take
steps to improve
my financial
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5. 1. Pay the rent/mortgage payment and utility bills on time?
2. Save at least 10% of your net income?
3. Keep three months net income in reserve for emergencies?
4. Plan ahead for large expenses?
5. Set and keep financial goals?
6. Follow a budget?
7. Comparison shop?
8. Regularly review your credit report?
9. Examine your checking account statements often?
10. Continue your financial education?
SCORING Add your points using this system: Always = 2 points, Sometimes = 1 point, Never = 0 points.
0-10 Points: Indicates a need to take control of your finances; following the 30 step plan will go a long
way to achieving this.
11-15 Points: Reflects a good effort to manage your money effectively. The 30 step plan can help
determine changes that can be made to improve your financial well-being.
16-20 Points: Demonstrates ability to manage your finances successfully. The 30 step plan can help you
continue to make money management a priority.
ALWAYS SOMETIMES NEVER
Assess your financial situation
Start your journey with a self assessment designed to motivate you. Completing this simple quiz can help you assess your current financial situation.
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6. I know you are anxious to get started, but it is hard to get motivated when you
are knee-deep in paperwork. Getting your financial house organized is a great
way to begin on your path toward financial wellness. But before you bulldoze
that pile, you should know that some things are worth hanging on to. The key is
to know what to keep and what to toss.
• Grocery receipts and other nondeductible expense receipts and statements
can be destroyed after they have been recorded for budgeting purposes.
• Paycheck stubs should be checked against your W-2. If it’s a match, you can
toss them. If not, request a revised W-2, called a W-2c.
• Generally, canceled checks should be saved for three years. Keep those
related to your taxes and business expenses permanently.
• Utility bill stubs may be destroyed after recording, however, you may wish
to hold onto these for a year to compare monthly costs.
• Documents pertaining to buying, selling or improving your home should be
kept as long as you own the home.
• Receipts from major purchases should be kept as long as you have the item.
• Credit card receipts can be destroyed once you have reconciled with your
monthly statement. Additionally, credit card monthly statements can be
destroyed on an annual basis.
• According to the Internal Revenue Service (IRS) you should keep your
individual tax return documents for seven years. The IRS has three years
from your filing date to audit your return if it suspects good faith errors.
However, the IRS has six years to challenge your return if it thinks you
underreported your gross income by 25 percent or more.
• Finally, before taking out the trash, be sure that all identifying information
has been destroyed to avoid any threat of fraud.
For more information about preventing fraud, visit the Federal Trade Commis-
sion’s Fraud Prevention Web site.
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Clearing out financial clutter
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7. While all members should be aware of the family’s overall financial
situation, choosing one person to conduct the day-to-day financial
tasks is a good way to stay on top of things. The appointed individual
should be organized and a good communicator. They should be
given uninterrupted time to do their tasks effectively.
Consider making the job of CFO easier by establishing an online bill
payment service (offered free-of-charge by many banks and credit
unions). Even better, check with your creditors about setting up
automatic bill payments.
Designate a spot in your home for organizing paperwork. Used office
supply stores offer great bargains on filing cabinets, or consider
small plastic filing cabinets instead of metal or wood. If your goal is
to have a paperless filing system, make sure that you back-up your
computer regularly and invest in a good security program to prevent
criminals from obtaining sensitive information. To keep your most
valuable documents safe, consider opening a safety-deposit box at
your local bank or credit union.
Set yourself up for success
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Appoint a family CFO
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8. Your credit reports can provide a snapshot of your overall financial situation. Reviewing your credit reports for
accuracy can also help you to identify errors or fraudulent activity. Fortunately, it is easier than ever to obtain
copies of your reports.
The FACT Act gives every consumer the right to a free credit report every year from each of the three major
credit bureaus: Equifax, Experian and TransUnion. To get your free report, simply fill out the request form. You
can also visit www.annualcreditreport.com or call 877-322-8228.
The three major credit bureaus are separate entities. It is important to know this because the information in
their reports may vary slightly. Different creditors use different reports (or a combination of them) to determine
whether or not you are creditworthy.
Your creditworthiness matters most when you are trying to obtain credit. If your credit report indicates that you
have maintained your credit well, you should have a good chance of receiving additional credit when needed,
provided you have enough income to qualify for additional credit.
Credit reports might also matter when renting an apartment, obtaining insurance or securing some types of
employment. The Fair Credit Reporting Act (FCRA) dictates that credit information is accessible to others only for
certain permissible purposes. For your protection, you are entitled by law to know who has received a copy of
your report or inquired about it.
5 Get copies of your credit reports
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9. If you find an error on your credit reports, you’ll need to know your rights. Your most
effective weapon in dealing with the credit bureaus is the Fair Credit Reporting Act (FCRA).
Legally, the FCRA protects you by requiring credit bureaus to furnish correct and complete
information to companies requesting credit histories for evaluation. If you find an error on
your report, simply follow these steps:
• Write to the credit reporting agency disputing the item and include any supporting
documents. Keep a copy of all documents for your files.
• When the credit reporting agency receives your letter disputing the item, they must
investigate the item in dispute (usually within 30 days) by presenting the information
you submit to the creditor.
• By law, the creditor must review your evidence and report its findings to the credit
bureau.
• The credit bureau must then give you a written report of its investigation and a copy
of your credit report if it results in a change.
You can also fill out an online dispute form provided by the credit bureaus. The Web sites
for the three major credit bureaus are:
• Equifax
• Experian
• TransUnion
If an item on your report is found to be an error and is corrected, you can request that the
credit bureau send corrected copies of your report to any creditor who received it in the
previous six months or any employer who received your report in the previous two years.
If you are not satisfied with the results of a formal dispute, you can also seek resolution
with the source of the information. To do this, write to the creditor disputing the incorrect
entry. After receiving your letter, the creditor may not report the information without
including a notice of your dispute. In addition, once you have notified the source of the
error in writing, it may not continue to report the information if it is an error.
6 Clean up your credit report
www.equifax.com
www.experian.com
www.transunion.com
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10. To develop an accurate picture of the
amount of money you will have in
the future, take a look back. Decide
if your income will be from the same
or from different sources and the
amount of income you can expect to
earn in the future.
Use the Income worksheet to help
you determine the amount of
income you can realistically count on.
7 Make your money count
+ YOUR INCOME
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11. 8
Calculating your net worth is as
simple as comparing what you
owe (liabilities) to what you
own (assets).
Use the simple Net Worth
worksheet to determine your
net worth as of today.
Identify your starting point
NET WORTH
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12. Freedom from debt is an achievable goal for every family. The first step in regaining control is to
take an honest look at your existing obligations. Take the following debt test to determine if you
need a plan for payoff.
Yes No Is an increasing percentage of your income going towards paying down debts?
Yes No Is your savings cushion inadequate or nonexistent?
Yes No Are you near or at the limit of your lines of credit?
Yes No Can you only make the minimum payments on your revolving charge accounts?
Yes No Are you often late with bill payments?
Yes No Are you paying bills with money earmarked for something else?
Yes No Are you using credit to pay for items you used to buy with cash?
Yes No If you lost your job, would you be under immediate financial strain?
Yes No Are you unsure about how much you owe?
Yes No Are you being threatened by collectors with possible legal action?
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Do you pass the debt test?
A ‘yes’ to any of these questions is a sign that you may need to make debt payoff a priority.
The following worksheet can help you get an accurate picture of your obligations. Get a copy of
the Debt Load Worksheet and keep it handy, so you can make a plan for payoff in a few days.
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13. Set your priorities
Creating a list of needs and wants can help
you establish your financial priorities.
When completing the Financial Priorities Worksheet, consider
the list of expenses to help you get started. There are also
blank fields to record your family’s needs and wants. Check
whether the item is a “need” or “want.” Then, rank the
item’s priority based on importance. When finished, put this
worksheet in a safe place, it will be very helpful when setting
financial goals!
Paying off unsecured debt
Paying all secured debt on time
Saving for a down payment on a home
Buying a car
Taking a vacation
Having money for entertainment
Starting/maintaining a savings account
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YOUR PRIORITIES
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Before you think about setting goals, review the five parts of SMART goals.
S A smart goal is specific. It pinpoints something you want to change or achieve.
M A smart goal is measurable. You can measure or count a SMART goal.
A A smart goal is achievable. Setting goals too high can lead to frustration.
R A smart goal is rewarding. Reaching the goal should be a reward for your hard work.
T A smart goal is trackable. Set milestones and schedules for your goals.
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15. Set short-, mid-, and long-term financial goals
Short-term goals are
priorities that can be accom-
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Be sure every goal has a
specific purpose, a dollar
amount that it will cost, and
a realistic target date.
Mid-term goals are priorities
that can be accomplished
within two to five years.
Make sure your goals are
realistic and flexible. If you
set your goals too high, frus-
tration will keep you from
reaching them.
Long-term goals are priorities that
may take more than five years to
accomplish. Most long-term goals
require regular savings.
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Goals will differ in the length of time needed to achieve them.
YOUR GOALS
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Paying down
debt is a smart
financial move
TACKLE DEBT
There are two popular methods that people use to tackle debt.
One is to concentrate on paying off the debt with the smallest balance first (never
forgetting to make required payments to all debts, of course). After that balance is
repaid, you can then apply that payment to the card with the next smallest balance
and continue the process until all debts are satisfied. This method can be very
rewarding because you see progress quickly.
The other popular method is to first concentrate on repaying the debt with the
highest interest rate. This method will save you the most in interest charges over
time. Regardless of the method you choose, be patient and persistent.
If you ever find that you are unable meet your basic financial obligations, contact your
creditors immediately to advise them of your situation. Most will offer an individual
short term solution; however, you probably will benefit from a long-term payoff
strategy. For help, consider contacting a reputable credit counseling agency such as
Money Management International to work on your behalf.
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Expect the unexpected
Unfortunately, bad things sometimes happen to good
people. In fact, bankruptcy filers often cite an “unforeseen”
event as the cause of their financial demise.
In addition to long-term savings, financial experts agree that
consumers should aim to have three to six months living
expenses saved for emergencies. By learning to expect the
unexpected, you can keep a minor financial setback from
turning into a major financial crisis.
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18. Securing your financial future
Don’t despair if you are behind on your retirement goals. If it is any consolation, you
aren’t alone; studies show many households are not adequately prepared for retire-
ment. Here are some things to consider when assessing your retirement savings.
• Take advantage of available resources. Participate in your company’s retire-
ment plan, particularly if they have a “matching funds” program. Not participat-
ing in this type of program is literally leaving money on the table and passing
up significant tax advantages. If a company program is not available to you,
consider establishing an Independent Retirement Account (IRA).
• Seek professional guidance. A trusted financial planner can help you deter-
mine the amount to withhold. They can also help you determine your tolerance
for risk and map out a comprehensive strategy that will bring you closer to your
financial goals.
• Take an active role. When you enroll in a retirement plan, you spend time
researching your investment options in order to make informed decisions. Yet
most people fail to actively manage their accounts by rebalancing their alloca-
tion of assets when market conditions change. Rebalancing your portfolio every
year to keep the percentages where you want them is the key to maximizing
returns and minimizing risk. Also, if you have experienced a raise in compensa-
tion, consider increasing your retirement savings.
• Finally, avoid cashing out early. Remember, if you withdraw money from your
401(k), you will have to pay regular income tax plus a 10 percent penalty on
any money withdrawn. This total tax bill will probably come to about 37 percent
of the money you withdraw. Even your credit card companies don’t charge an
interest rate that high. As an example, if you withdraw $10,000, you will prob-
ably realize only $6,300. You will have to pay the other $3,700 in taxes.
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This is for informational purposes only and should not be considered investment advice.
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19. One trick to keeping your financial goals is to
remind yourself of your goals on a regular basis.
At the very least, you should document your high
priority goals and post them where you will see
them every day. You can create your own custom
goal certificates in three easy steps.
1. Click here to view customizable and
printable goal certificates.
2. Press the “Create” button.
3. View and print your goal certificate!
For even more motivation, you might also want to
try treasure mapping. To create a visual “map” of
what you are striving for, surround yourself with
photographs. For example, if your goal is to save
enough money to go to Hawaii, try cutting pictures
of Hawaiian scenes out of magazines and plastering
them around your home or car, or tacking them to
the bulletin board next to your desk.
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Make a commitment
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20. 17 Save for your goals
Most likely, reaching your financial goals will require you to commit to saving.
That is one reason saving is an essential part of any money management plan.
Set money aside each month to save for your short-, mid-, and long-term goals.
If you are having trouble establishing a nest-egg, don’t despair. Following are
some simple ways to boost your savings:
• Make it automatic. Having money automatically deducted from your
checking account into a savings account helps to ensure that you meet
your savings’ goal. Even better, if your employer has the capability to
automatically deposit your paycheck, have some of the funds directed into
a savings account.
• Turn a hobby into income. Many people have untapped talents. Whether you
enjoy photography, painting, knitting, or metal work, consider possible ways
to earn money by doing what you love best. Babysitting and lawn work are
also good ways to earn additional money.
• Downsize. Most people have garages, basements, and attics full of items
they no longer want or need. Holding a garage sale or advertising some of
your things online could result in a boost to your savings account.
• Use gifts wisely. If you receive unexpected funds, do not be tempted to
spend them frivolously. Instead, put all or a portion of the money received
from tax refunds, inheritances and gifts into an interest-bearing savings
account.
For more ways to build your savings, read the online articles offered by
Money Management International.
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21. 18
Where does all the money go?
For most people, financial health doesn’t depend on how much they earn, but how much they spend.
To help you find out where your money is going, the next three steps involve tracking expenses. You
will start with identifying variable expenses. Variable expenses are those that vary from month to
month, such as clothing and food. You have the most control over these types of expenses.
To help you identify your variable expenses, print and carry this Record of Daily Expenditures
Worksheet, or a simple notebook, and record every penny you spend. Remember to track every
expense, even if it’s only a soft drink from the convenience store or a trip to the drive-thru at a fast food
restaurant.
While tracking variable expenses is only one of the 30 steps, you are encouraged to continue tracking
expenses well beyond the time it takes to complete the 30 step plan. The longer you track expenses,
the better your chances of success.
YOUR RECORD
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22. Fixed expenses are those that do not vary from month to month. Examples of fixed
expenses include car payments and mortgage or rent payments. Fixed expenses are the
most difficult to manipulate. Use this simple worksheet to determine how much money
per month you must dedicate to cover your fixed expenses.
19
Identify and document your
FIXED MONTHLY EXPENSES
FIXED EXPENSES
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23. Identify and plan for PERIODICS
You may have a good idea of where the money is going on a day to day basis,
but before you start working on a spending plan or budget, it is important to
call attention to the number one budget breaker: periodic expenses. Periodic
expenses are those that are not paid on a regular monthly basis. For example,
both holiday and tax debts are periodic, meaning they are not part of regular
monthly expenditures. In that regard, they join the ranks of other expenses
such as auto registrations and vacations. Often, we know when these events
will occur, but still fail to plan for them. Unfortunately, when these expenses
arise, many people rely upon credit to extend their monthly incomes; using
credit this way is one sign of pending financial trouble. To avoid this scenario,
follow these tips when planning for periodics:
• Determine what you spent last year for periodic expenses. Assume that
you will spend at least this amount again this year.
• Don’t hide expenses! Just because you don’t list an expense doesn’t mean
you won’t have to spend money on it. Don’t forget things like back-to-
school expenses, auto repairs, and birthday gifts.
• Remember that some items, like auto insurance premiums, may occur
more than once a year.
• When you have a realistic idea of what you will need to spend on
periodic expenses during the year, divide the total amount by 12 and save
that amount each month. Designating a savings account for this purpose
may help to organize this process. Check with your financial institution, you
may even be able to have the amount automatically transferred.
20
Annual Auto Registrations
Assume your annual auto registrations
cost $800/year. How much should
you budget each month to cover this
expense (even if you don’t have to
pay it monthly)?
$800 / 12 = $67/month
So, to be prepared for the annual
$800 expense, you must put $67
each month into a savings account or
into an “auto registration” envelope.
That way, you will not have to rely on
credit when the bill comes due.
Use this simple calculator to
determine how much money you
need to save per month to cover other
periodic expenses.
Here is an example of
how a periodic expense
can impact your
monthly budget:
SIMPLE CALCULATOR
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24. It is time to record your fixed, variable, and
periodic expenses in the first column of the
Expense Worksheet; do not worry about the
other columns at this time.
This worksheet will help you to identify
expenses that can be reduced and prevent
impulse spending. The process may be time
consuming, but it is vital to gaining control of
your finances.
After you have calculated the total of your
existing expenditures, add your income
information. For this, it might be helpful to refer
to your Income Worksheet.
Subtract the amount of your total monthly
expenses from the amount of your monthly net
income. If your expenses exceed your income,
rest assured that there are ways to balance the
budget.
Keep your Expense Worksheet handy, it will
soon become your roadmap to financial
wellness.
21
YOUR EXPENSES
Document your
SPENDING
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25. Tip Monthly Saving
Save $.50 in loose change $18
Cut soda consumption by one liter a week $6
Bring lunch to work $60
Send one free Ecard per month instead of buying a card $4
Buy grocery store brands $10
Use fewer phone features $10
Eliminate premium cable channels $20
Borrow, rather than buy, one book per month $15
Hand wash, rather than dry clean, one shirt per month $3
Comparison shop for gas (saving an estimated $.25/gallon) $4
Savings $150
Identify ways to
REDUCE SPENDING
To create a balanced budget or increase
savings, most people will have to find a
way to earn more or spend less. If the
idea of spending less sounds challenging,
try starting small.
It’s important to understand that every
purchase we make —excluding such
absolute necessities as food, rent,
and gas for the car — is a choice. The
America Saves Coalition offers the
following examples of how making
some small changes can save you an
impressive $150 per month.
Finally, in addition to making
small changes, resolve to boost
your savings by including all
of your “windfall” money.
This “free money” includes
increased income from a
pay increase, birthday gifts,
insurance settlements, escrow
overages, tax refunds, and
inheritances.
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26. GROCER ES
Saving money on groceries doesn’t have to be hard work. Making just some small changes can net big
rewards to your pocketbook. Simple changes in the way you plan and shop can help you reduce the
amount you’re spending on groceries.
Preparing a weekly menu of what you would like to eat is the first step in effective grocery buying. You
will want to list entrees as well as any side dishes, salads or deserts you are planning to prepare. This
meal plan can be simple.
23
Save money on
After you have your menus planned, make a list of ingredients you will
need to prepare each meal. There is no right or wrong way to make
a list. It is mainly a listing of all the foods you will need to cook the
meals you have planned for the week. You may want to group them in
the order they appear in the store or by category such as meats, fruits
and vegetables, canned items, frozen foods, cleaning supplies and
miscellaneous items.
Check out our handy printable menu planner.
MENU PLANNER
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27. Being open and honest with yourself and others
about your finances is an extremely important
part of your financial makeover. Don’t be afraid to
talk about money matters with your friends and
family. And don’t hesitate to share a helpful tip!
We’ve compiled all of our favorite consumer tips
from over the years, which you can read for free
by downloading our Tips for Change eBook.
Make sure to visit us on Facebook and share
one of your own financial tips with other
consumers looking for new and exciting ways
to manage their finances!
24 Share a Tip for
CHANGE
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28. Now that you have identified some areas where you would like to make some
changes, it is time to revisit your Expense Worksheet.
In the second column titled “adjusted,” indicate how you would like to change your
spending. For example, if you are currently spending $80 per month on the Dry
Cleaning/Laundry category and you wish to spend only $30 per month, write -$50
in the “adjusted” column. If you are saving only $50 per month, but would like to
save $100, write +50 in the “adjusted” column.
25 Document your DESIRED SPENDING
Remember, this is not about sacrifice; it is about making choices to help you
achieve your goals. Because maintaining a spending plan is so important, you are
encouraged to enroll in a free budgeting webinar.
After you have made adjustments, you can move forward using this spending
plan as a road map for achieving your goals.
GOAL
DRY CLEANING CIGARETTES MEALS OUT
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29. Protect yourself by performing
FINANCIAL CHECK-UPS Being in charge of the family’s finances is an awesome responsibility. In addition to
providing your family with the basic necessities of life, you may feel responsible for
their overall financial well-being. One of the best ways to care for your family is to be
sure that you are prepared if something were to happen to you or another member
of your family.
Perform a health insurance check-up. Find out exactly what services are covered
and learn what preventive services are offered. Ask if there are limits on medical
tests, out-of-hospital care, mental health care and prescription drugs. Research your
premiums and co-payments. Explore the difference in cost between using doctors
in the network and those outside it. Find out if there is a limit to the maximum you
would pay out-of-pocket. If you do not have health insurance, seek assistance from
Medicaid or your local state-sponsored plan.
Perform an auto insurance check-up. Auto insurance pays for damages, injuries and
other losses specifically covered by your policy. Most states require vehicle owners to
purchase liability insurance, which covers bodily injury and property damage. Read
your policy carefully to know exactly what it covers. Pay special attention to the
exclusions section, which lists the things your policy does not cover.
Obtain adequate life insurance. The life insurance coverage offered by your
employer may not be enough. Realistically determine how much life insurance
you need and then shop around. Term insurance is the most affordable type of life
insurance, just be sure that the term lasts until your children are financially self-
sufficient.
Don’t skimp on disability insurance. At any given age, your chances of becoming
disabled are higher than your chances of dying. If your employer does not offer group
disability insurance, seek an individual policy.
Protect your assets. You don’t need to have a lot of assets to need a will. Most
importantly, a will allows you to name guardians for your children. Without a will,
state law determines how your assets will be distributed. Keep your will in a secure
location, such as a fireproof filing cabinet or safety deposit box.
Because this step is so important, create a customizable and printable goal
certificate to ensure that you address these important protections.
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30. It is important to carefully weigh your options before making a
credit decision. When you sign or cosign an application for credit,
you are agreeing to all its terms. Moving forward, commit to
understand everything to which you are agreeing. At the very
least, you will want to compare the following terms before
making a borrowing decision:
Understand the cost of
CREDIT
Use these worksheets to compare the
total cost of a loan or credit card from
three different sources.
Interest rate or APR
APR is the annual interest rate you will be charged on a loan or the unpaid balance
of a credit card.
Length of the loan
As the length of the loan increases, the monthly payment will decrease,
but the total interest charged will increase.
Finance charge
Total cost of the loan stated in dollars.
Credit limit
The maximum amount you can borrow at any time.
Minimum monthly payment
The smallest payment your creditor will accept.
Grace period
Number of days you have to pay your bill in full before interest is charged.
Over the limit and late fees
The amount you will be charged if you are late with a payment or go over your credit limit.
27
COMPARE
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31. Managing your finances can be like putting together a puzzle; all the pieces need to fit in
order to be rewarded with the “big picture.” Working with one or more of these financial
professionals can help put the pieces in place.
Tax advisor. Tax advisors provide tax advice and assistance to consumers. Tax advisors
can help you to navigate tax laws, prepare complete and accurate returns, and develop a
strategic tax plan.
Credit counselor. If you are struggling with debt payments, credit counseling can
help. You should contact a credit counseling agency at the first sign that your debts
are becoming unmanageable. Things to look for in a quality agency include history,
accessibility, knowledge and good customer service. Money Management
International (MMI) has all of these important qualities and more.
Financial planner. Whether you are just out of college or entering retirement, most
everyone can benefit from the help of a trusted financial advisor. Professional financial
planners do more than offer investment advice. A financial planner may also be able to
help by analyzing employee benefits, discovering insurance needs, and developing a
system to manage cash flow. Financial planners can also help with estate planning and
may have relationships with other professionals, such as accountants or attorneys.
Lawyer. Lawyers can help consumers by preparing important legal documents such as
a living trust. An attorney can also be very helpful if you need to consider bankruptcy or
want to challenge a wage garnishment.
Lawyers can also assist consumers when a violation of the law has occurred. For
example, if you feel that a creditor has violated the Fair Debt Collection Practices Act, you
may be able to sue for harassment. Working with an attorney can help you understand
your rights.
Before working with any financial professional, be sure to check their credentials. Ask
specific questions about their history and areas of expertise. Finally, be sure that you are
comfortable with the advisors you choose; ideally, you will be financial partners for life.
Assemble a
FINANCIAL TEAM 28
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32. Change may be hard, but the payoff can be priceless. In addition
to improving your financial situation, you may also find your
money management skills can benefit other aspects of your life.
Consider the following benefits. Place a check next to those you
will enjoy as a result of taking ownership of your finances. Feel
free to add others - the possibilities are endless.
29 Appreciate the benefits
If I stick to my plan, I will:
Feel a sense of accomplishment
Have less anxiety
Feel like I am setting a good example
for my family
Build a secure financial future
Improve my creditworthiness
Appreciate the things I have purchased.
Avoid legal problems
Be prepared for financial emergencies
Feel more in control of my financial
situation
Other:
Other:
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33. CONGRATULATIONS! You have given a great deal of thought to your financial
situation, your spending habits, and the change process. You now have the knowledge
necessary to make positive decisions that will ensure a successful financial future.
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Moving FORWARD
REFLECTIONS
Describe your
thoughts, feelings,
and attitude about
making a change
to your financial
situation:
Don’t forget that there are a variety of resources available to help you, such as educational classes. A trained Money Management International counselor can also help you in the change process.
Based on the work
you have done over
the past 30 days,
describe what you
plan to do next:
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