ainsley cunningham education and information coordinator april 11 2006
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Ainsley Cunningham Education and Information Coordinator April 11, 2006

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Ainsley Cunningham Education and Information Coordinator April 11, 2006. Agenda. Start when you are young You have money You have time Statistics Power of Compounding Set some goals Use a budget Pay yourself first Reward yourself. Money Challenge Prize Question.

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agenda
Agenda
  • Start when you are young
    • You have money
    • You have time
    • Statistics
  • Power of Compounding
  • Set some goals
    • Use a budget
    • Pay yourself first
    • Reward yourself
money challenge prize question
Money Challenge Prize Question
  • Would you rather have $10,000 or a penny a
  • day doubled for 30 days?
start when you are young
START WHEN YOU ARE YOUNG
  • Do you know how much money you have?
  • Canadian Tweens (ages 9-14) spend $1.9 billion annually. (YTVmedia.com)
  • Canadian teens (ages 13-19) spend $14 billion annually. (YTVmedia.com)
  • Tweens influence $20 billion in household purchases annually. (YTVmedia.com)
  • You spend your money on food, clothing and entertainment.
hook you when you are young
HOOK YOU WHEN YOU ARE YOUNG
  • Time is on your side
  • To learn good habits
  • To recover from market ups and downs
  • To benefit from few financial obligations
  • You have the money
start when you are young1
START WHEN YOU ARE YOUNG
  • Some of the hard facts
  • Divorce rates on the rise
  • Debt is at an all time high
  • Money matters affect every aspect of our lives
  • Cost to achieve our dreams
power of compounding
Power of Compounding
  • Compound Interest
  • Interest earned not only on your original investment, but on your accrued earnings as well.
short term pain long term gain
Short Term Pain Long Term Gain
  • Age Invested Value
  • 19 $2000 $2,200
  • 20 $2000 $4,620
  • 21 $2000 $7,282
  • 22 $2000 $10,210
  • 23 $2000 $13,431
  • 24 $2000 $16,974
  • 25 $2000 $20,872
  • 26 $2000 $25,159
  • 27
  • 65 $1,035,161
  • Total Invested $16,000
  • !0% rate of return
short term pain long term gain1
Short Term Pain Long Term Gain
  • Age Investment Value
  • 27 $2,000 $2200
  • 35 $2,000 $29875
  • 40 $2,000 $61545
  • 45 $2,000 $112550
  • 50 $2,000 $194694
  • 55 $2,000 $326988
  • 60 $2,000 $540049
  • 65 $805,185
  • Total Invested $78,000
  • !0% rate of return
setting goals
SETTING GOALS
  • What is a goal?
  • Short term – Spend (weekly)
  • Medium term – Save (six months – one year)
  • Long term – Invest (many years)
  • Giving – Donate (giving to help others)
tools to reach your goals
TOOLS TO REACH YOUR GOALS

Budget

  • A budget is like a road map. If you don’t know where you are going, how are you going to get there?
  • Income (Earnings) – Expenses (bills) = Savings (thrills)
slide12
TOOLS TO REACH YOUR GOALS
  • Pay yourself first
  • Pretend you are a bill that comes due at the end of each month
  • Saving $10 a week gives you $580
  • Save loose change by:
    • Bring your lunch to school
    • Take the bus, ride your bike or car pool
    • Cut down on double lattes or number of movies you go to
    • Borrow books from the library
tools to reach your goals1
TOOLS TO REACH YOUR GOALS
  • Build in room for rewards
  • Don’t quit spending all together.
  • When you have reached your goal reward yourself
slide14
Key
  • Identify your goals
  • Set a plan
  • Follow through
play the games
Play the Games
  • Review the four games
    • The Thing That Ate my Paycheque
    • Honey I Shrunk the Money
    • Kids and Cash
    • Future Fortune
  • Prizes to be won
  • Parental consent form
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