This document discusses various topics related to personal finance, including money, taxes, cash flow, goals, and budgeting. It provides advice on developing a plan to manage one's finances effectively through tracking expenses, paying off debts, saving consistently, and borrowing only for assets that increase in value. The document recommends focusing on positive cash flow by spending less than one's income and using goals and budgets to accomplish financial objectives over time.

1. So, What’s this money thing all
about?

2. Thoughts on Money
“Money frees you
from doing things
you dislike. Since I
dislike doing nearly
everything, money
is handy.” –
Groucho Marx

3. “The government’s view
of the economy could be
summed up in a few
short phrases: If it
moves, tax it. If it keeps
moving, regulate it. And
if it stops moving,
subsidize it.” –
Ronald Reagan

4. *
HOW to be a MILLIONAIRE Profile
*
• Self-employed people are 5
times more likely to be
millionaires.
• Millionaires studied tended to
have modest homes and
bought used cars.
• Millionaires are educated, work
hard, save money and make
purchases carefully.
APPD-4

5. *Six Steps to
SIX STEPS to CONTROL YOUR Controlling Your
Assets
FINANCES LG1
*
1. Take an inventory of your
financial assets
2. Keep track of all your
expenses
3. Prepare a budget
4. Pay off your debts
5. Start a savings plan
6. Borrow only to buy assets
that increase in value.
APPD-5

6. *Prepare a
MANAGING YOUR HOUSEHOLDBudget
BUDGET LG1
*
• A household budget generally
includes:
- Mortgage or rent
- Food and clothing
- Vehicles and furniture
- Insurance needs
- Other expenses
APPD-6

7. *
TAXES Tax Laws
• Taxes -- The way federal, state, and local
LG7
*
governments raise money.
• Some forms of taxes:
- Income taxes: Fed & State
- Property taxes
- Sales taxes
- Excise taxes
- Social Security
- Medicare
APPA-7

8. DO the RICH PAY TAXES? *
Tax Laws
How much is enough?
LG7
*
Taxpayers % of Total Taxes
Top 1% 40% of total taxes
Top 5% 60% of total taxes
Top 25% 86% of total taxes
Top 50% 97% of total taxes
Bottom 50% 3% of total taxes
In 2009 – 47% of American’s paid NO income tax
Source: IRS, Statistics of Income 2008, www.irs.gov.
APPA-8

9. Personal Finance is all about
one thing…
Ca$h Flow

10. Cash flow - from Wikipedia, the free encyclopedia
Cash flow is the movement of cash into or out of a business, project, or financial product.
It is usually measured during a specified, finite period of time.
Income
Expenses

11. Money isn't the most important
thing in life, but it's reasonably
close to oxygen on the "gotta
have it" scale.
Zig Ziglar

12. BUT…
it’s also about your
goals and objectives.
There needs to be a plan to get
you to your destination.

13. Dreams are a good
•
thing
Are the subconscious giving
us direction.
• Are not to be ignored
• May surprise you in the
direction they take you.
• Are not “stupid” ideas
• Motivation for the soul.
• Need to be documented so
the vision can be developed.

14. Goals and Objectives
• The road map to get to the destination
• Quantifies the Dream
• SMART
– Specific
– Measurable
– Attainable
– Realistic
– Timed

15. The Big Questions
Where am I today?
Where do I want to go
in the future?
How do I get to where I want to be in the future?

16. In other words…
• Positive Ca$h Flow is about spending LESS
than what you take in.
• Goals and Objectives are accomplished with
positive cash flows.
• Negative Ca$h Flow is NOT desirable or
sustainable.
• Ca$h Flow can be monitored and controlled with
a plan [Budget].
• A budget is a money plan – giving every dollar a
name and place.
• “Failing to plan [Budget] is planning to fail”.

17. So – what’s the plan?
• There are a lot of “experts” and
gurus that offer the plan of the
week.
• If they want your $$$ for their
“secret plan”, run away!
• Look to KISS – keep it simple
smarty
• Look for a life style, not a one-and-
done plan.
• Don’t expect 7 day miracles

18. What to do???
There are a lot of formulas,
experts, and to-do’s. How do you
sort through the data and find
something that works?

19. One possible solution…
• A personal favorite of mine is
Dave Ramsey.
• He offers simple solutions in
“The Total Money Makeover”.
• A 7 step plan that you CAN
do.
• You can get the book free at
the library.
• A program offered thru many
churches.

20. Follow-up thoughts
• The Ramsey plan is not the only plan, but
it has a great proven track record.
• It drives to building manageable cash flow.
• It works toward your goals and objectives.
• Gives peace of mind.
• It’s an action plan.

21. A statement of fact:
The preceding presentation
material is not that of a financial
advisor. It’s just “Lessons in
Life” from a guy who has been
there and done that.

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