Instructor%20Notes%20-%20Basic%20Financial%20Planning

Instructor%20Notes%20-%20Basic%20Financial%20Planning -...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Ideas to help you on your way Pay yourself first! Create an emergency savings account outside your 401(k General rule, 3 - 6 months living expenses. Contribute to a 401(k). Create a budget. Include all Income from all sources. Advantages - reveals utilization of resources, self-evaluat Disadvantages - may be misleading, record keeping may Remain flexible Include ALL Expenses. Mortgage/Rent RE Taxes Homeowner's/Renter's Insurance Gas Electric Cable Telephone Cell Phone Student Loan Medical/Prescriptions Clothing Meals/Food Car Payment Auto Insurance Auto Maintenance Auto Fuel Licenses/Plates Entertainment Travel Charity Gym 401(k)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Credit Cards Personal Care General Spending Money Miscellaneous Federal Income Taxes State Income Taxes
Background image of page 2
(k) for unexpected occurences. tion, anticipates problems. y become onerous.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
401(k) Savings Example Estimates No 401(k) Annual Bi-Weekly Salary $40,000.00 $1,538.46 401(k) Savings $- $- Social Security $2,480.00 $95.38 Medicare
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 10

Instructor%20Notes%20-%20Basic%20Financial%20Planning -...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online