The document describes a vision board party hosted by the Zelaya family to help attendees improve their financial situation. It outlines differences between poor and rich people, how the Zelaya family improved from the bottom to top 10% of income earners between 2005 and 2013. This was done by casting a vision, setting SMART goals, improving work ethic, gaining financial knowledge, creating and sticking to a budget, taking action, and reviewing progress. The document provides tips for developing a strong work ethic, financial literacy through savings, budgeting, and discipline. It emphasizes following one's passion and dreams to find purpose in work.

1. FIRST ANNUAL VISION BOARD PARTY
 STARTING THE NEW YEAR RIGHT
Presented by the Zelaya Family on 12/31/13

2. We were BROKE and sick and tired of it

3. What’s The Difference
Poor People
Rich People
 No Vision
 Have Vision
 Lack Goals
 Set SMART Goals
 Low Financial Literacy
 Financial Know How
 No Financial Discipline
 Financial Discipline
 Lack Total Work Ethic
 Work Hard & Smart
 Work with Purpose

4. In 2005 We Ranked in the Bottom 34% of Income Earners

5. In 2013 we moved to the Top 10%

6. This is HOW we did it
1) CAST A VISION FOR OUR LIFE
2) WROTE DOWN SMART GOALS
3) IMPROVED OUR WORK ETHIC
4) GAINED FINANCIAL KNOWLEDGE
5) CREATED A BUDGET (AND STUCK TO IT)
6) TOOK ACTION
7) PERIODICALLY REVIEWED PROGRESS

7. elaya Family 12/31/2012
reating our Vision Boards and
riting down our 2013 goals.

8. As of 12/31/2013 many of those goals that
were written down were accomplished.

9. Create Goals for All Areas of Your Life

10. Be SMART when
writing down your goals.
Attach Emotion to the
Goal
Declare it like it’s
already done.
If in your mind you can
conceive it then you can
achieve it.

11. 360▫Work Ethic
WORK HARD
WORK SMART
WORK WITH PURPOSE

12. Working Hard and Work Smart
 Sacrifice Sleep
 Always Learning
 Going the Extra Mile
 Sharpen your Axe
 Putting in the Time
 Leadership
 Busting your Butt
 Entrepreneurship
 Staying up late
 Boss Mentality
 Working weekends
 Staying focused

13. What kind of work
would you do if money
didn’t matter?
If education didn’t
matter?
What kind of work
would you do for free
because you love it so
much?
Follow Your Passionate Dream
and The Money Will Follow
You Passionately !

14. 360 Work Ethic
Work
Hard
Work
Smart
Work With
Purpose*
*Working with Purpose will influence your work ethic the most

15. Your Financial Growth
DEPENDS ON
LITERACY
&
DISCIPLINE

16. FINANCIAL LITERACY
 SAVING – the amount left over after personal
expenses have been met
 BUDGETING – summary of estimated expenditures
for a given period along with the projected cash flow
for financing them
 FINANCIAL DISCIPLINE – determines success and
the probability of achieving our goals

17. SAVING
 One size doesn’t fit all
 Gross Income vs. Net Income
 Making your paycheck work for you
 Tithe thyself (direct deposit)
 “Take home income”
Net Income
- Tithe____

18. SAVING (Cont’d)
 Make it a Habit
 Set up bank accounts with purposes
 High yield savings account (“best cash cow” bank
rate, etc.)
 Diversify
 Where should I start

19. SAVINGS (Cont’d)
 Go Offshore
 Minimize ATM withdraw
 Don’t Borrow against self
 Track Spending
 Debit Card vs. Credit Card
 Long term vs. short term goals

20. BUDGETING
 Identifying how you’re spending money (Elizabeth
Formula)
 Evaluate your spending
 Track your spending

21. IDENTIFY
 3 main category of budgeting






Essential expenses
Financial priorities
Lifestyle choices
50/20/30 Rule of Budgeting
Essential expenses – 50% (shelter, food, electricity)
Financial Priorities – 20% (retirement, savings, debt
payments)
Lifestyle choices – 30% (cable, internet, phone plans,
childcare, gym, shopping etc.)
FORECAST
Cash Flow??

22. 50/20/30 Rule Example
 Shelly has net income of
 Essential expenses 50%
$1400 below are her
expenses
 (Remember net income
is net income less taxes)
Rent - $450
Grocery – $120
Insurance - $60
Transportation - $60
690/1400 = 49%

23. 50/20/30 Rule Example
 Financial Priorities 20%
 Lifestyle Choices 30%
Savings - $140
Student Loan - $60
Emergency Fund - $50
Church Tithes - $50
300/1400 = 21%
Cable - $80
Cell Phone - $120
Restaurant - $100
Vacation - $ 75
375/1400 = 27%

24. EVALUATE
 Are you meeting your financial objectives
 Are your financial objective realistic
 Do I really need to spend my money on “THAT” –
eliminating discretionary spending
 2 to 3 Revision

25. TRACK
 Bank Account in system or download
 Software (i.e. Quicken)
 Mint.com
 Excel
 Actual vs. Forecast
 Revision

26. EXAMPLE OF MONTHLY BUDGET

27. FINANCIAL DISCIPLINE
 Budget/Saving main two elements of financial discipline
 SMART financial planning ( yearly, quarterly, monthly,








weekly)
Set a long term vision (ex. Financial freedom 2025)
Financial Planning course
Concept of Inflation
Keeping up with the Joneses
Make transfers inconvenient
Take advantage of discounts
Don’t pay for space you don’t need (Buying a house)
Luxury items

28. FINANCIAL DISCIPLINE (CONT’D)
 TEACH OUR CHILDREN

29. Your Next Steps
1) Cast a vision for your life
2) Write down SMART goals
3) Develop a 360 Work Ethic
4) Gain Financial Knowledge
5) Create a Budget
6) Take Action! Do it.
7) Periodically review progress of goals with your
accountability partner

30. Congratulations! You’re on your
way to Financial Independence