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Transcript of Personal Budgeting Made Simple Rod Wiltrout By PresenterMedia.com PresenterMedia.com.
Personal Budgeting Made Simple
Rod Wiltrout
By PresenterMedia.com
• Make wise money decisions• See where your money goes• Make sure everything gets paid: ON TIME!• Define essential costs vs. non-essential spending
• Get rid of your debt• Plan for the future• Plan for retirement: it will happen at some point
• You Need a Game plan!• By the way, a $3.00 latte daily is over a $1,000 out of your annual budget. Just a thought…
Why Have a Budget?
•Married Couple•Double income•No children•College debt•Credit card debt•Car payments•Rent
Budget Parameters: Who are These People?
Define your Income
Define your Income
Put in Your Expenses
Put in Your Expenses
Put in Your Expenses
Put in Your Expenses
How Much am I Spending in Each Area
… And You Can Graph It!
ChildrenEntertainmentFoodGifts & DonationsHousingInsuranceLegalLoansPetsPersonal CareTaxesTransportation
Put in Your Expenses
So, what d
o we do
NOW?
• Increase Income and Decrease Expenses!• Get a second or third job• Take out the non-essentials• Sell your “stuff”• Create a Debt Reduction Snowball!
Everyone has this Problem to Some Extent!
Fixing Your Budget
Creditors Monthly Payment Total Debt
Student Loan (10 yr.)
$450.00 $ 40,000
Credit Card #1 $ 50.00 $ 2,500
Credit Card #2 $ 75.00 $ 4,000
Car Repair $ 20.00 $ 350
Total Debt $ 595.00 $ 46,850
Reduce Installment Debt
On College Loan:
Interest paid on Student loan
$ 13,033
With Extra $145 Payment
$ 8,873
Original Payments 118
With Extra Payments
83
Payments Saved $ 4160 interest saved
35
$40,000, 10 yr., 6% LoanOn Just the Student Loan…
Rod [email protected](559) 287-7840 cell phone
Now you have th
e Keys t
o
buildin
g a succ
essfu
l
Personal b
udget!