Take Responsibility for Your
Financial Future
•Gain knowledge.
•Get involved in family
investment decisions.
•Develop and implement
your financial plan.
•Seek professional help
if you lack confidence
to act.
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Financial Planning: Achieving Wealth Through Knowledge and Frugality, Slides of Fundamentals of E-Commerce
Valuable insights for individuals looking to take control of their financial future. It covers the importance of gaining financial knowledge, getting involved in family investment decisions, developing a financial plan, and seeking professional help when needed. Additionally, it discusses the unique financial considerations for women, the importance of communication and planning in marriage, and the significant costs associated with raising children. The document also emphasizes the benefits of frugality and making the choice to become wealthy.
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2012/2013
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Take Responsibility for Your
Financial Future
Gain knowledge.
Get involved in familyinvestment decisions. - Develop and implementyour financial plan. - Seek professional helpif you lack confidenceto act.
Financial Principles Are Gender-
Neutral, But Women Should
Recognize that you live longer and may bedivorced.
Get involved in your husband’s pensiondecisions.
Fund retirement plans and IRAs to the max.
See a financial planner, if needed.
Life Events: Marriage (cont’d)
Talk, talk, talk about your financial situation.
Seek help from a professional.
A financial planner
A financial counselor - National Foundation for Consumer Credit - Debt Counselors of America, now Myvesta.com
Life Events: Marriage (cont’d)
Two other importantdecisions
Joint or separatechecking account(s) - Joint or separate creditcards
Life Events: Children (cont’d)
How do you prepare?
Keep your insurance current and premiums paid –health, life, and disability
Consider a tax-free flexible spending account - Maintain adequate income and savings - Update your will and name a guardian - Review your financial plan - Start saving for education costs
Keys to Financial Success
How the rich become rich
Understand the difference in income and wealth
Live like a millionaire – practice frugality
Choose wealth – consider the 12 decisions
Choose Wealth #1: Become
Knowledgeable
Knowledge
Makes it easier toavoid financial pitfallsand bad advice. - Spurs yourcommitment. - Helps you handlemoney surprises.