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Resource Speaker
May 24, 2019
“The number one problem in
today’s generation and
economy is the lack of
financial literacy.”
--Alan Greenspan--
•Financial literacy is the
possession of the set of skills
and knowledge that allows an
individual to make informed
and effective decisions with all
of their financial resources.
Raising interest in personal
finance is now a focus of state-
run programs in countries
including Australia, Canada,
Japan, the United States and
the United Kingdom.
How to Manage Your Money
•Managing your money demands
constant attention to your
spending and to your accounts
and not living beyond your
financial means.
-Having a bank account
provides convenience, access to
a choice of benefits and safety.

-Learn to differentiate between

necessities and luxuries. For
example, you need to pay for your
Money in the Bank yearly dental cleaning, but you
want to afford the salon
-Instead of your money
controlling you, you
control your money.
-Develop habits to
save, avoid financial
crisis and maintain
peace of mind.
A successful budget plan clearly defines:
-How to follow a monthly spending plan
-Ways for lowering your monthly bills
-How to handle accrued (enlarged) debt
-How to distinguish between short-term,
medium and long-term goals
*-A breakdown of family needs
1. Start tracking your monthly
•In a notebook or a mobile app, write in
every time you spend money. Be
diligent about this, because it’s easy to
forget. This is the foundation for your
2. Identify fixed and variable expenses
•Fixed expenses are ones that you have every
month: rent, mortgage, car payment, electric
bill, water bill, student loan payment.
Variable expenses are costs that go up and
down each month and ones that come and
go – groceries, pet supplies, haircuts, concert
tickets, etc.
3. Add up the totals
•After three months,
calculate how much you are
spending, on average, per
month. And look at the
4. Study your variable expenses
•This is where most people tend to
overspend. Decide what gives you the
most pleasure from these monthly
expenses that you feel these costs are
worthwhile? Start cutting. This is the
beginning of the hard decisions.
5. Factor in savings
•take a portion of every paycheck and put
it into savings. This one practice, you can
make it a habit.
6. Now set your budget
•Decide what you want to save every week
or every two weeks. The leftover money is
how much you have to live on.
•Senator Elizabeth Warren
- 50/20/30 budget rule in her
book “All Your Worth: The
Ultimate Lifetime Money Plan.”
The basic rule is to divide after-tax
income, spending 50% on needs
and 30% on wants while
Some facts about saving:
•From 2011-2014, 24 to 28 percent of
Americans had zero emergency savings.
•People ages 30 to 49 are the least likely to
have emergency savings.
•1 person out of every 5 people near
retirement age has zero money saved
(Federal Reserve).
1. Budgeting Basics
-know where your money is actually going.
2. The Impact of Interest
-borrowing a small amount and paying back
much more than you need to for years to come.
-Understanding the ins and outs of interest
God bless us all! 
•Distribution of
free School