1 / 11

Jerry L. Basford

Jerry L. Basford. sa.utah.edu/personalfinance. Top Priorities. Get out of debt. National credit debts is at $970 billion, 50% higher than in 2000. Strike the word “deserve” from your conversations. What you deserve is irrelevant; what you can truly afford is what counts.

harva
Download Presentation

Jerry L. Basford

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Jerry L. Basford sa.utah.edu/personalfinance

  2. Top Priorities • Get out of debt. • National credit debts is at $970 billion, 50% higher than in 2000. • Strike the word “deserve” from your conversations. • What you deserve is irrelevant; what you can truly afford is what counts. • Decide once and for all if you want to indulge or protect your family.

  3. 5 Important Components of Goals (SMART): • Specific • Measurable • Attainable • Realistic • Timely

  4. How Financial Planning Affects Your Cash Flow 1. Budgeting and Tax Planning $ Income 6.Retirement and Estate Planning $ Invest for Retirement Your Cash $ Credit 2. Managing Liquidity (Cash and Credit Management) $ Deposit $ Investments 5. Investing $ Insurance $ Loans $ Spending 3. Managing expenditures for major purchases 4. Income and Asset Protection 7. Products and Service

  5. Good Debt vs. Bad Debt • Debt incurred for consumption is bad debt. Bad Debt = Debt Danger Ratio Annual Income Debt Danger Ratio beyond 25% can spell trouble.

  6. Income Statement

  7. Balance Sheet

  8. Investment Terminology • Bull Market – A random market movement causing an investor to mistake him/herself for a financial genius. • Bear Market - a 6 to 12 month period when the kids get no allowance and adults get no date nights. • P/E Ratio – The percentage of investors wetting their pants as the market keeps crashing. • Broker – What my broker has made me. • Standard & Poor – Your life story in a nutshell. • Financial Planner – A person that actually remembers their wallet when they run to the 7-2-11 for toilet paper and milk. • Market Correction – The day after you buy stocks. • YAHOO – What you yell after selling it to some sucker for $240 a share. • Windows 7 – What you jump out of when you’re the sucker that bought Yahoo for $240 per share.

  9. If you’d invested $1,000 in 1950 • Perfect timing and missed 20 worst months through June 2008 • $800,000 • If you’d missed the 20 best months • $11,500 • Let it ride • $73,000

  10. 10-20-30 Rule • 10% Savings • 20% Debt not including mortgage • 30% Debt including mortgage

  11. 10 Top Finance Tips • Pay yourself first and spend less than you make. • Stick to a budget. • Pay off credit card debt. • Contribute to a retirement plan. • Have a savings plan. • Invest. • Maximize employee benefits. • Review your insurance annually. • Update your will. • Keep good records.

More Related