Money Management - International Society for Pharmaceutical … · 2018-08-08 · Money Management...
Transcript of Money Management - International Society for Pharmaceutical … · 2018-08-08 · Money Management...
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Money Management
David BrandePrincipal
Cleanroom Project Management, Inc.
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• Graduate from NC State (1977)• Air Pollution for Government• Cleanrooms (Indoor Air Pollution)• 20 Years as Business Owner• Sold to Danish Engineering Firm• Consultant
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You can never tell anyone anything
You can only remindsomeone of what theyalready know
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Have a Plan
BUT
Be Prepared
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Be Prepared
BY
Being Balanced
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Important Aspects of LifeFamily
PhysicalFinancial
IntellectualSpiritualSocial
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FamilySocial
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0 5050 2575 25 75100 100
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FamilySocial
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FamilySocial
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CorporateRevenue Expenses
Profit
PersonalIncome
BillsSavings
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Generic BudgetHousing 30.0%Food 12.5%Transportation 12.5%Utilities 7.5%Medical 7.5%Personal 7.5%Recreation 7.5%Debts 7.5%Clothing 5.0%Charity/Savings 2.5%
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Generic Budget $50,000Housing $15,000Food $6,250Transportation $6,250 Utilities $3,750Medical $3,750Personal $3,750Recreation $3,750Debts $3,750
Clothing $2,500Charity/Savings $1,250
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Transportation $6,250
$6,250 over 12 months = $520 / month
But wait, what have we overlooked?
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TaxesUS NC
25% 7.5%
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$50,000 after TAX will be $37,500 Housing $15,000 $10,125Food $6,250 $4,219Transportation $6,250 $4,219Utilities $3,750 $2,531Medical $3,750 $2,531
Personal $3,750$2,531Recreation $3,750 $2,531Debts $3,750 $2,531 Clothing $2,500 $1,688Charity/Savings $1,250 $844
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Transportation $4,219
Budget After Taxes
So what salary would you need?
$4,219 over 12 months = $352 / month
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Generic Budget $75,000Housing $22,500Food $9,375Transportation $9,375Utilities $5,650Medical $5,650
Personal $5,650Recreation $5,650Debts $5,650
Clothing $3,750Charity/Savings $1,875
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$75,000 after TAX will be $50,625 Housing $15,188Food $6,328
Transportation $6,328Utilities $3,328Medical $3,328Personal $3,328Recreation $3,328Debts $3,328 Clothing $2,531Charity/Savings $1,266
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Credit Cards
Everyone has themEverybody needs themThe World runs on creditWithout credit you will never
buy anything
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Credit Cards
$2.5 Trillion
$2.5 Million/Millions
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Credit Cards
$2,500,000,000,000181,000,000
$13,812 per person
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Credit Cards
8+ cards per person
1.5 billion cards
181 million people
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Credit Cards
14 trillion in debt
181 million people
U S Government
$77,635 per person
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Credit CardsThe real cost of a $2000 Credit Card purchase
Your Monthly Payment Time for Payoff Total Amount Paid
$20/month(minimum 1%)
never paid off !!!$10,800
(45 yrs later)
$30/month 16 years $6,112
$40/month 8 years $3,724
$100/month 2 years $2,350
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The Eighth Wonder of the World
Compound Interest
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$100 saved per month for 40 years will cost you
$48,000 total out of pocket
But, if invested at 8.0% compounded monthly
will yield a different result
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But, if $400 were invested at 8.0% compounded monthly
will yield a very different result
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But, if $400 were invested at 10.0% compounded monthly
will yield a very different result
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OK I get it!
But where am I going to get the money
I ‘m already on atight budget
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Choices!
Life is full of choices
and you will be measured by yours
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Transportation
2011 BMW 535iMSRP(NADA)$51,900
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Transportation
2011 BMW 535iMSRP(NADA)$51,900
Financed at 5.5%$1207/month
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Transportation
Used 2007 BMW 535i with 60k miles
MSRP(NADA)$29,000
Financed at 5.75%$678/month
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- $678/month (used 535i)
$1207/month (new 535i)
$529/month
Transportation
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Transportation
2011 Ford Taurus SEL MSRP(NADA)$29,200
Financed at 5.5%$679/month
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- $679/month (new Taurus)
$1207/month (new 535i)
$528/month
Transportation
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Transportation
2011 Ford Fiesta SEL MSRP(NADA)$16,300
Financed at 5.5%$379/month
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- $379/month (new Fiesta)
$679/month (new Taurus)
$300/monthly savings
Transportation
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You can never tell anyone anything
You can only remindsomeone of what theyalready know
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I hope that today, I have successfully
reminded you of things you already knew
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