Post on 19-Oct-2014
description
+
No Stress Personal Finance
Guita T. GopalanMarch 20, 2013
+Where stress comes from:
Having no control over your surroundings and the outcome of your actions
Real OR ImaginedFearLack of self trust, belief, confidence Ignorance – lack of knowledgeLack of skill – don’t know how to do things
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+REALITY
One does not have complete control over everything. controlling what we can control mitigate what we cannot control
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+
Be GOODGrow Out Of Debt
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Just like PACMan, no matter how many coins and fruits you collect…
The ghosts are coming to get you…
And eventually, they will.
+GOOD Tip #1
Stop borrowing to buy things that decline in value!
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+GOOD Tip #2
Eliminate and reduce expenses!
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+GOOD Tip #3
Pay more than the minimum!
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+
Live by a financial plan!
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+
What is a financial plan?
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+Ideal Income Allocation
Savings – Protection
Investments – Growth
Expenses – Housing Loan
Expenses – Consumer Loan
Regular & Lifestyle
Expenses
- Tithing
- Generosity/Giving
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+
Use what was once for paying off debt
To build your wealthInstead of spending it on luxuries.
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+Financial Planning Tips
1. Make a Budget. Be Faithful to it.
2. Follow your money. List every centavo in and out of your pocket.
3. Identify where you want to go…what you want to achieve.
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+Save, Protect & Grow
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+Savings
1st source of capital for wealth generation
Pay Yourself First!
Protection Life Goals Retirement
Purpose Driven – End in Mind
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+How much? Identify the amount you need!
Present Value of Goal
x
Time Value of Money
=
Future Value of Goal
Php500,000
x
5 years (5%)
=
Php638,150
(adjust for inflation)
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+Match Up
Goal – Instrument – Strategy
PUZZLE
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+
We may not know which way the wind blows…
But we can always adjust our sails.
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THANK YOU
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