1 / 16

Money Clubs

Money Clubs. Financial Planning for Women Jean Lown, FCHD Dept., USU PowerPoint by Tiffany Smith September 14, 2005. Your Financial Goals. List your top 3 financial goals List friends, relatives or co-workers who share similar goals. What is a Money Club?.

Lucy
Download Presentation

Money Clubs

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Money Clubs Financial Planning for Women Jean Lown, FCHD Dept., USU PowerPoint by Tiffany Smith September 14, 2005

  2. Your Financial Goals • List your top 3 financial goals • List friends, relatives or co-workers who share similar goals

  3. What is a Money Club? • A place where a group of people get together and share thoughts, ideas, and goals about money, planning, finance. • A way to learn about finances • A way to reach your financial goals

  4. Why Start a Money Club? • You don't have to know much about money to join a club - you just need a desire to improve your relationship with money • Friends in the Money Club provide the encouragement that each member needs to succeed

  5. Who to Start a Club with? • People who share similar interests, goals, and backgrounds. • There is a strong need for common ground so members can understand each other and contribute.

  6. How to Find Members for the Club • People you know • Friends • Co-workers • The Internet is another place to look • Meetup.com • helps you find existing clubs, or • matches you with prospective members if you would rather start your own.

  7. Finding Members for the Club • Moneyclubs.com • 33 money-club curriculums available for downloading that you can use to facilitate meetings. You can also search the site for a group (typically oriented toward women) in your area. • Morethanmoney.org • You can sign up for a free trial of the quarterly magazine that some of the More Than Money clubs use as the basis for discussion. • search the site to see whether there's a group in your area or to find other people to start a new one

  8. Investment Clubs • Better-investing.org • If you prefer to join an old-style investment club, get the lowdown on starting a group at this site, the online home of the National Association of Investors Corporation.

  9. Reasons for Forming a Club Individual Goals • Saving for retirement • Diversifying a portfolio • Paying down debt • Saving for children’s education • Investing in real estate or buying a home

  10. Keys to a Successful Club • Pick a leader • Or rotate leadership chores • Stay Organized • For your club to be successful, you need to remain ambitious and on top of your own finances so that you can set the example as the leader

  11. Keys to a Successful Club • Meet Once a Month • More than that is a burden; less and people lose interest • Meet Regularly at a Set Time and Place • Having to deal with sporadic meetings at various locations can not only derail people's focus on their goals, it can lessen their drive to attend. • You can alternate hosting the meetings at your homes, but many clubs opt to choose a permanent, neutral space, such as a coffeehouse, restaurant or community center.

  12. Keys to a Successful Club • Celebrate Successes • When a member achieves a financial goal, enjoy the fact that the club has contributed to that success and plan to give a prize, such as a gift certificate for that member's favorite store. • How to fund prizes? • Achievement in others sparks drive and competition, encouraging everyone to do well.

  13. Keys to a Successful Club • Have 6-10 members... • Small groups may be socially awkward. • Larger groups have higher retention. • But fewer than 20 members • Too many members makes it is hard to find a meeting place • Too much management required

  14. Internet Resources • Women's Institute for Financial Education • www.wife.org • http://www.moneyclubs.com/ • Meetup.com • Morethanmoney.org • Better-investing.org

  15. Start with a curriculum • Investing for your Future http://www.investing.rutgers.edu/ • Planning for a Secure Retirement http://www.ces.purdue.edu/retirement/ • Money 101 http://money.cnn.com/pf/101/ • Check out FPW web site for more web sites http://www.usu.edu/fpw/

  16. Questions? Comments? • Ideas to share?

More Related