Managing financial stress

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+ No Stress Personal Finance Guita T. Gopalan March 20, 2013

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Transcript of Managing financial stress

Page 1: Managing financial stress

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No Stress Personal Finance

Guita T. GopalanMarch 20, 2013

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+Where stress comes from:

Having no control over your surroundings and the outcome of your actions

Real OR ImaginedFearLack of self trust, belief, confidence Ignorance – lack of knowledgeLack of skill – don’t know how to do things

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+REALITY

One does not have complete control over everything. controlling what we can control mitigate what we cannot control

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Be GOODGrow Out Of Debt

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Just like PACMan, no matter how many coins and fruits you collect…

The ghosts are coming to get you…

And eventually, they will.

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+GOOD Tip #1

Stop borrowing to buy things that decline in value!

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+GOOD Tip #2

Eliminate and reduce expenses!

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+GOOD Tip #3

Pay more than the minimum!

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Live by a financial plan!

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What is a financial plan?

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+Ideal Income Allocation

Savings – Protection

Investments – Growth

Expenses – Housing Loan

Expenses – Consumer Loan

Regular & Lifestyle

Expenses

- Tithing

- Generosity/Giving

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Use what was once for paying off debt

To build your wealthInstead of spending it on luxuries.

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+Financial Planning Tips

1. Make a Budget. Be Faithful to it.

2. Follow your money. List every centavo in and out of your pocket.

3. Identify where you want to go…what you want to achieve.

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+Save, Protect & Grow

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+Savings

1st source of capital for wealth generation

Pay Yourself First!

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Protection Life Goals Retirement

Purpose Driven – End in Mind

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+How much? Identify the amount you need!

Present Value of Goal

x

Time Value of Money

=

Future Value of Goal

Php500,000

x

5 years (5%)

=

Php638,150

(adjust for inflation)

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+Match Up

Goal – Instrument – Strategy

PUZZLE

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We may not know which way the wind blows…

But we can always adjust our sails.

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THANK YOU

www.gui tagopalan.com

GuitaTGopalan

@guitagopalan

Guita Gopalan

[email protected]