11 Strategies to Increase Your Savings Now
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Transcript of 11 Strategies to Increase Your Savings Now
Building True WealthFinancial Seminar
with Jerry & Jennifer Robinson
11 Ways to Increase Your Savings
You Will Have Homework!
Be Ready…
Frightening Statistics in America
- 30% have no savings at all- 40% have less than $500- 50% would not last 3 months without a paycheck
Why??????
11 Ways to Increase Your Savings
Your Homework….
Pick at least 3 to implement now
Here We Go…
#1 Determine Your Biggest Savings Goal
Retire at age 55Give away $1 million in my lifetimeTravel to 20 different countriesSpend every day with my children/family
Begin with the end in mind.
#2 Set Your Monthly Profit Rate
In all labor there is profit, but idle chatter leads only to poverty.
- Proverbs 14:23 (NKJV)
Are You “Profiting” From Your Labor?
The Profit Principle
PROFIT = SAVINGS
Are You Working for Zero, Even Negative, Profit??
The Profit Principle
Set Your Profit Rate!
We suggest working towards a 15% profit rate
Are You Working for Zero, Even Negative, Profit??
#3 Meet Monthly With Your Spouse
Schedule ItSet Your Goals and Timeframes to Reach
Those GoalsDon’t Let It Get BoringStart Dreaming…Good Communication is the Key!You Can’t Reach Your Goals Until You Set Your Goals
#4 Set a Spending Budget
Be RealisticUse the “Cash Envelope” SystemHave Your Kids Create a Budget AlsoCreate a Rewards System for Sticking to
a Budget (Everyone loves incentives!)
Don’t Let Corporations Tell You How to Spend Your $$
#5 Plug the Cash Leak
$100 Cable/Dish$15 Satellite Radio$50-$80 Unlimited Text & Internet on
Smartphone$200+ Lawn Care or Housecleaning Service$40 Gym Membership$10 Movie Ticket
Can I Live Without It?
Ask For Discounts…
AAA Member Discount (we paid for the $50 fee in the first discount!)
Discounts through your employerCoupons…but be carefulTry Bartering for certain services
You Are Never Saving $$ When You Are Spending It
#6 Try Homemade Month
Here’s the Challenge:
No eating outNo vending machine snacksNo Starbucks CoffeeMake Everything at Home For an Entire
Month
Single Person One-Month Savings: $136
#7 Hold an Online Auction or Sale
Ebay.comCraigslist.orgAmazon.comGood Old-Fashioned Garage Sale
The Difference Between Wealthy & Poor
#8 Make Gifts for Every Occasion
What are your hobbies?Can you sew, knit, do woodwork, cut hair, do
nails….the list is endlessMore planning is involved, but worth it!
Create Meaningful Gifts…Save Money
Remember the Consumption Trap…
DSLBuild a Diversified Six Month
Liquid Savings Reserve
TM
#9 Diversify Your Savings
Because there are 10 eroding factors of money!
The DSL Savings Strategy
Example Diversification Strategy:
1/3 U.S. Dollars1/3 Precious Metals1/3 Stable Foreign Currencies
Diversification is not just for investments.
2004-2008 1999-2008 1990-2008
-10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00% DSL Savings™ vs. Regu-lar Savings
Savings Allocated US$ Only
MakersGroup Financial, LLC ©2010
5-Year (2007-2011)
10-Year (2002-2011)
20-Year (1992-2011)
-10%
40%
90%
140%
190%
240%'DSL' Savings vs. Regular Sav-
ings
DSL Savings US$ Only
#10 Get the Match on Your 401(k)
Don’t Turn Down Free MoneyConsider a Roth 401(k) OptionConsider Professional Investment HelpBeware of Government Controlled Retirement
Plans
It’s Hard to Find a 100% Return Anywhere Else
#11 Begin an Exercise RoutineImprove Your Health = Lower Healthcare
Costs in the Long-RunReplace Costly Outings With Free ActivitiesImprove Your Sleep = Improved
Productivity= More Money
What Good Is Wealth Without Good Health??
Proverbs 6:6-11 (NAS)
6 Go to the ant, O sluggard,Observe her ways and be wise,
7 Which, having no chief,Officer or ruler,
8 Prepares her food in the summerAnd gathers her provision in the
harvest.
Proverbs 6:6-11 (NAS)
9 How long will you lie down, O sluggard?When will you arise from your sleep?
10 A little sleep, a little slumber,A little folding of the hands to rest.11 Your poverty will come in like a
vagabondAnd your need like an armed man.
11 Ways to Increase Your Savings
Your Homework….
Pick 3 Strategies to Implement Now!
Be the ant…not the sluggard
Final Word…What About Debt?
- Give to God first - Begin saving immediately - Pay down debts with highest interest rate first
For More on Eliminating Debt…
Call Tom Coates
(877) 366-5158
www.ChristianDebtCoach.org
A Christian’s Guide to the Rise and Fall of the U.S. Economy
Provides a spiritual perspective of the economic crisis
Explains our DSL Savings Strategy
Details 21 income streams you can create now and in retirement
Building True WealthFinancial Seminar
www.ftmdaily.com