Bf Saving 100 Saving For Goals
- 2. Short-Term Goals Pay yourself first Reduce spending Savings options Compounding interest Agenda
- 3. Saving vs. Investing Investing for long-term goals More than five years Retirement College education Saving for short-term goals Less than five years Emergency fund Car or house down payment Vacation Saving vs. Investing
- 4. Pay Yourself First Today’s habits pay off tomorrow Include savings in your budget Save for emergencies Save for major purchases Saving vs. Investing
- 5. Reduce Spending Clothes Buy the basics Shop sales Shop thrift stores Make minor repairs Personal Care Shop discount stores Food Eat out less Split a meal Skip daily cup of coffee Shop with a list Buy generic brands Clip coupons Buy in bulk Reduce Spending
- 6. Transportation Economy car Used car Carpool Public transportation Entertainment Entertain at home Pack a picnic Use student discounts Free concerts Free community events Reduce Spending Reduce Spending
- 7. Savings Options Banks and credit unions Checking account Money market account Savings account Certificate of deposit (CD) Savings Options – Getting Started
- 8. Savings – Getting Started Checking account Lowest interest rate Most transactions Savings account Higher interest rates than checking Savings Options – Getting Started
- 9. Savings – Larger Amounts Money market accounts Higher rates than checking and savings Limited number of monthly withdrawals Certificate of deposit (CD) Require minimum deposit Pays higher interest rate No transactions for a set period Early withdrawal penalty Savings Options – Getting Started
- 10. Rule of 72 Rule of 72
- 11. Power of Compound Interest Student A Age 25 $100/Month 10 Years Contributes $12,000 $73,537 at age 60 Student B Age 40 $100/Month 20 Years Contributes $24,000 $46,435 at age 60 Savings growth calculated at 6% interest. Compound Interest
- 12. Power of Compound Interest Savings growth calculated at 6% interest. Student A Student B Compound Interest Contributions $12,000 Total Interest $22,435 Total Value $46,435 Contributions $24,000 Total Interest $61,537 Total Value $73,537
- 13. Savings Growth $50 a month $8,194 in 10 years $100 a month $16,388 in 10 years $250 a month $40,970 in 10 years Savings growth calculated at 6% interest. Compound Interest
- 14. How To Succeed Identify financial goals Track expenses and list your debts Create a financial plan Save in ways that fit your lifestyle Start a savings plan—and stick to it! Pay off debt Review
- 15. Session: Date: Time: Location: What’s Next What’s Next
Editor's Notes
- #2: Speaker notes Welcome students and introduce yourself. Purpose of slide Sets the tone for a comfortable learning session.