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Personal Finance

Personal Finance. Budgeting. Financial Planning. Net Worth Income Expenditures Unplanned Expenditures Debt Savings. Net Worth. Net Worth = Assets – Liabilities How much of what you own do you actually own? Many Americans have a Negative Net Worth 65% <100,000 dollars. Income. Work

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Personal Finance

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  1. Personal Finance Budgeting

  2. Financial Planning • Net Worth • Income • Expenditures • Unplanned Expenditures • Debt • Savings

  3. Net Worth • Net Worth = Assets – Liabilities • How much of what you own do you actually own? • Many Americans have a Negative Net Worth • 65% <100,000 dollars

  4. Income • Work • Career Planning • Need • Skill Level • Education Level • Ability • Pay • Net Income vs. Gross Income

  5. Average Starting Salaries by Education

  6. Expenses • Housing – 30% • Utilities – 5% • Food – 15% • Transportation – 10% • Insurance – 5% • Household Expenses – 5% • Leisure – 5% • Savings – 10% • Debt Repayment – 10% • Misc – 5%

  7. Debt • Expenditures above income • Credit Cards • Loans

  8. Planning • Education • Rainy Day • Large Purchases • Family • Charity • Retirement

  9. Financial Plan • Plan for Budget • Step 1: Net Worth • Step 2: Income • Step 3: Expenses • Step 4: Taxes • Manage Liquidity • Plan for Financing • Manage Risk • Plan Investments • Plan Retirement • Keep Records

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