Building a Solid Financial Foundation
Transcript of Building a Solid Financial Foundation
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BUILDING A
SOLID FINANCIAL
FOUNDATIONFIRST STEP TO FINANCIAL FREEDOM
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PRAYER of ABUNDANCEToday, I recieve all God’s love for me
Today, I open myself to the unbounded, limitless, overflowing abundance of God’s Universe.
Today, I open myself to your Blessings, healing and miracles.
Today, I open myself to God’s Word so that I become more like Jesus Everyday.
Today, I proclaim that I’m God’s Beloved, I’m God’s Servant, I’m God’s powerful champion,
And because I am blessed, I will bless the world, In Jesus Name, Amen.
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temporary
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NEEDSPERMANENT
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WE NEED TO BUILD A LOT OF
WEALTH
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HOW MUCH WEALTH IS NEEDED?annual income x 10
monthly income = P 10,000 x 12Annual income = P 120,000
annual income x 10 = P 1.2 M
P 1.2 M x 10% = 120,000 / 12 = 10,000P 2.4 M x 10% = 240,000 / 12 = 20,000
P 3.6 M x 10% = 360,000 / 12 = 30,000
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P 1.2 M
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OUR FINANCIAL BUCKETINCOME
SALARYSIDELINE
BILLS/NECESSITIESTUITION//FOOD/CLOTHING
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100(salary) – 10(tithe) - 20(savings) = 70 (expenses)
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what if you LIVE
too long
what if you DIEtoo soon
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THE RULE OF 72
Albert Einstein called the compound interest the 8th
wonder of the world & mankind’s greatest invention because it is
the mightiest force ever unleashed
for the amassing of wealth.
The Power of Compounding Interest
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THE RULE OF 7272 ÷ Interest rate = number of Years it takes
for your money to doubleExample:
You have P 100,000 now, then you invest it in a Savings Account with 1% guaranteed interest per annum
72/1 =72
so it means in 72 years, your money will be
P 200,000
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BUILDING A SOLID FINANCIAL FOUNDATION
INVESTMENTEMERGENCY FUNDELIMINATE DEBTS
PROTECTION / LIFE INSURANCEHEALTHCARE
LONG TERM / SHORT TERM
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What happens when you have weak building foundation
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INVESTMENTEMERGENCY FUND
You should set aside 3-6 months of your monthly needs to help cope with emergencies and unexpected changes, like:
• Job Loss•Major Damages or Repairs for homes•Illness•Disaster•Be prepared for rainy days
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ELIMINATE DEBTS
INVESTMENTEMERGENCY FUND
Investments usually has lower interest rates than DEBT, especially credit card debts.
The interest paid by your investments will just end up paying your debts.
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NO PROTECTIONELIMINATE DEBTS
INVESTMENTEMERGENCY FUND
Most of us don’t utilize this kind of product because we think we will not be the one to
enjoy the fruit of this instrument.
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HEALTHCARENO PROTECTIONELIMINATE DEBTS
INVESTMENTEMERGENCY FUND
Nobody wants to get sick but somehow anyone will.When you stop working, the pay stops but the needs won’t.
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HEALTHCARENO PROTECTIONELIMINATE DEBTS
INVESTMENTEMERGENCY FUND
First reason why we are here because we wanted to increase our cash flow.
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INVESTMENTEMERGENCY FUNDELIMINATE DEBTS
PROTECTION / LIFE INSURANCEHEALTHCARE
LONG TERM / SHORT TERM
BUILDING A SOLID FINANCIAL FOUNDATION
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TYPES OF INVESTMENTS•STOCK MARKET•MUTUAL FUND •UITF•REAL ESTATE •JEWELRIES•BANK/SAVINGS DEPOSITS•BUSINESS
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ARWIN MENDOZA BUENOBlogsite: GUSTO KONG YUMAMAN EPS WORKER’S LIFE IN KOREAURL: payamannako.blogspot.com
epsinkorea.blogspot.com
Phone number: 010-5149-7774Add me on Facebook : www.facebook.com/arwin.bueno