Saving 100

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Saving 100

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Shop discount stores. Food. Eat out less. Split a meal. Skip daily cup. of coffee. Shop with a list ... Clip coupons. Buy in bulk. Reduce Spending. 9. Reduce ... – PowerPoint PPT presentation

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Title: Saving 100


1
aving For Goal
Agenda
Reduce Spending
Savings vs. Investing
Compound Interest
Saving Options
Assessment
Credits
2
Agenda
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3
Short-Term Goals
Agenda
  • Savings vs. Investing
  • Reduce spending
  • Savings options
  • Compounding interest

4
Savings vs. Investing
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5
Saving vs. Investing
Saving vs. Investing
  • Investing for long-term goals
  • More than five years
  • Retirement
  • College education
  • Saving for short-term goals
  • Less than five years
  • Emergency fund
  • Car or house down payment
  • Vacation

6
Pay Yourself First
Saving vs. Investing
  • Todays habits pay off tomorrow
  • Include savings in your budget
  • Save for emergencies
  • Save for major purchases

7
Reduce Spending
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8
Reduce Spending
Reduce Spending
  • Clothes
  • Buy the basics
  • Shop sales
  • Shop thrift stores
  • Make minor repairs
  • Personal Care
  • Shop discount stores
  • Food
  • Eat out less
  • Split a meal
  • Skip daily cup of coffee
  • Shop with a list
  • Buy generic brands
  • Clip coupons
  • Buy in bulk

9
Reduce Spending
Reduce Spending
  • Transportation
  • Economy car
  • Used car
  • Carpool
  • Public transportation
  • Entertainment
  • Entertain at home
  • Pack a picnic
  • Use student discounts
  • Free concerts
  • Free community events

10
Saving Options
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11
Savings Options
Savings Options Getting Started
  • Banks and credit unions
  • Checking account
  • Money market account
  • Savings account
  • Certificate of deposit (CD)

12
Savings Getting Started
Savings Options Getting Started
  • Checking account
  • Lowest interest rate
  • Most transactions
  • Savings account
  • Higher interest rates than checking

13
Savings Larger Amounts
Savings Options Getting Started
  • Money market accounts
  • Higher rates than checking and savings
  • Limited number of monthly withdrawals
  • Certificate of deposit (CD)
  • Require minimum deposit
  • Pays higher interest rate
  • No transactions for a set period
  • Early withdrawal penalty

14
Rule of 72
Rule of 72
15
Compound Interest
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16
Power of Compound Interest
Compound Interest
  • Jimmy
  • Age 18
  • 100/Month
  • 10 Years
  • Contributes 12,000
  • 73,537 at age 53
  • Dean
  • Age 33
  • 100/Month
  • 20 Years
  • Contributes 24,000
  • 46,435 at age 53

Savings growth calculated at 6 interest.
17
Power of Compound Interest
Compound Interest
Jimmy
Dean
Savings growth calculated at 6 interest.
18
Savings Growth
Compound Interest
  • 50 a month
  • 8,194 in 10 years
  • 100 a month
  • 16,388 in 10 years
  • 250 a month
  • 40,970 in 10 years

Savings growth calculated at 6 interest.
19
Assessment
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20
Assessment
  • PASS THE ASSESSMENT AND YOU ARE ON YOUR WAY TO
    SAVING SUCCESS!

21
Credits
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