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Improve your financial literacy and learn how to budget effectively for long-term success. Discover the importance of saving, investing, and setting a good example for your family. Join our presentation and take control of your financial future.
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Money TalksBudgeting for Life Presented by Richard Becker
Shortcut to financial success… • Do you live paycheck to paycheck? Yes, I work at Palm Beach State College • Should you save or invest? Yes, but I can’t until the next paycheck • How do I improve my financial literacy? Sit thru my presentation, but you might want to be reading a book on financial literacy while sitting thru my presentation • If I died today, would my family be okay? I have a WILL…a will to LIVE! • How do I set a good example for my kids? Listen and do everything you learn today at this lunch and learn…also, put the toilet seat down!
I’ve got all the money I will ever need…if I die by 4 o’clock (Henny Youngman) • 90% of my salary I spend on booze and women, the other 10% I wasted (Tug McGraw)
What do these famous people have in common? • Billy Joel • Willie Nelson • Usysses S. Grant • Mike Tyson • Johnny Depp • Michael Jackson • Burt Reynolds
Why You Should Budget? • If you don’t know where you are going, you are likely to end up someplace else • Budgets quantify how multiple people will spend the same money • Businesses • Married Couples (What is the number one cause of divorce?) • Budgets are also necessary for individuals
What is a Budget? • A PLAN on how to spend limited resources
Lets look at a basic budget • Short term • Long term • Broken down in smaller pieces, most likely monthly • Paying mortgage, FPL, Car are pretty obvious • But what about the “discretionary” expenses • Food • Entertainment • Clothes • “Booze and Women”
Income • Pay • Investments • Gifts • Expenses • Non discretionary • Mortgage/rent • Utilities • Car • Insurance
Discretionary • Food • Entertainment • Clothes • WHAT IS MISSING? SAVINGS
The best time to plant a tree was 25 years ago • The Second best time to plant a tree is NOW
Happiness is not having everything, it is being content with everything you have