CAN LUNCH REALLY BE ON ME TODAY?

@lynlatinsky

#stayfresh14

Ask yourself

Financial Goals:• Where are you going ?• What do you need ?

• How – Where will money come from?

Rule of 72

• Used to calculate the number of years for money to double

72 divided by interest rate

With 3.5 % inflation it should take how many years for your currency to halve ?Rule of 72

If you pay 19% interest on your credit card, with no principle payment, the amount you owe will double in ________ years ?

72/3.5

What is the average interest rate on a credit card?

20.57

3.7

Needs

Manolo Blahnik Shoes $679.80

Bugatti Veyron $1,700,000

Plan

Collect Information

Plan

Record income

List expenses• Fixed• Variable

How

Budget Calculator

Planned Actual: Month

Income: Monthly Annual Month Month Annual

Your Primary Income $0.00 $0.00 $0.00 $0.00

Your Spouse's Income $0.00 $0.00 $0.00 $0.00

Investment Income $0.00 $0.00 $0.00 $0.00

Business Income $0.00 $0.00 $0.00 $0.00

Other Income $0.00 $0.00 $0.00 $0.00

Total Income $0.00 $0.00 $0.00 $0.00

Necessary Expenses: $0.00 $0.00 $0.00 $0.00

Payroll Taxes $0.00 $0.00 $0.00 $0.00

Other income deductions $0.00 $0.00 $0.00 $0.00

Rent or Mortgage $0.00 $0.00 $0.00 $0.00

Property Taxes $0.00 $0.00 $0.00 $0.00

Water $0.00 $0.00 $0.00 $0.00

Household Gas & Elecrtciry$0.00 $0.00 $0.00 $0.00

Car Insurance $0.00 $0.00 $0.00 $0.00

Car repairs $0.00 $0.00 $0.00 $0.00

Gas $0.00 $0.00 $0.00 $0.00

Transit $0.00 $0.00 $0.00 $0.00

Food & Groceries (not dining out)$0.00 $0.00 $0.00 $0.00

Clothing (necessary) $0.00 $0.00 $0.00 $0.00

Telephone $0.00 $0.00 $0.00 $0.00

Cable/internet $0.00 $0.00 $0.00 $0.00

Mobile Phone $0.00 $0.00 $0.00 $0.00

Home or Renters Insurance$0.00 $0.00 $0.00 $0.00

Healthcare or Insurance Costs$0.00 $0.00 $0.00 $0.00

Review

• Check your accounts

• Credit Cards• Chequing• Debit card• Savings

Consider How much cash do you have in your wallet/purse

• Did you use your debit/credit card today

• How much did you spend .. On what?

Cost of 1 coffee /day $2 x 5 days = $10/work week = $40/monthLunch $7/day x 5 = $35 x4 = $140/m

Lunch

Now you know how much money you have to spend , and what you are spending it on, start to “spend smart .....”

• So now that you know .....

Who’s taking me to lunch ??

Contact me

• Lynette Latinsky

• Email: lynette.finance@sympatico.ca• Twitter :@lynlatinsky.• Call: (416) 417-3224

• DISCLAIMER

• The material presented in this seminar is for information purposes only and should not be construed as advice.

• Find an advisor you can work with to develop your own personalized plan.