Transcript The Big Picture - Chaplain Ron`s Center for Becoming Your Best

Success in Building Personal Finance
by Ronald O. McCants, M.Div., M.Ed.
• TIME: 10:00 a.m. – 11:30 a.m.
• May 19, 2012 - The Building Blocks to Achieving Personal
Finance Success
• June 2, 2012 - Effective Strategies in Finding Your Job
• June 16, 2012 - Financial Statements, Tools, and Budgets to
Become Your Best
• June 30, 2012 - Managing Your Income Growth
• July 14, 2012 - Wise Steps to Obtaining Affordable Housing
• July 28, 2012 - The Big Picture on Credit Cards and Consumer
Loans
• August 4, 2012 - How to Win with Vehicle and Other Major
Purchases
• PLACE: Evergreen-Conecuh County Public Library
Kiplinger Poll
• Some argue the federal government should
stop promoting programs that help
homeowners avoid foreclosure or refinance
underwater homes.
• Do you agree or disagree?
Kiplinger Poll
Some argue the federal
government should
stop promoting
programs that help
homeowners avoid
foreclosure or
refinance underwater
homes.
Do you agree or
disagree?
Spread the Word
• When you're looking for work, you want your
network to know it. "Spread the word about
your job hunt to everyone you know, including
family members, friends, professors and
former coworkers," says Messmer, author of
Job Hunting for Dummies. "Make use of
networking and reach out to your local
business community and staffing firms."
The Big Picture
Financial success and
happiness come from using
the building blocks of
personal finance, such as
having a foundation of
regular income to provide
basic lifestyle and savings,
and establishing a financial
base using employee benefits
and checking and savings
accounts. (29)
Financial Peace
• Through knowledge and discipline financial
peace is possible for us – all of us. (5)
Detective Work
• One resume does not fit every job opening, so
don't use the same document or stock cover
letter when you apply to different companies.
"Tailor each resume and cover letter to the
particular opportunity, and try to obtain the
name of the hiring manager so you can
personalize your cover letter," Messmer says.
"A little detective work can go a long way in
helping you stand out."
Money Moves
• Finance and money are always moving. Time,
interest rates, amounts, cash flows, inflation,
and risk all intermingle to create a current that
is ever flowing. (19)
• Money has no morals. That is it is neither
good nor bad. First Timothy 6:10 does not say
“Money is the root of all evil.” What it does
say is “The love of money is the root of all
evil.” (20)
Abraham Maslow Hierarchy of Needs
His theories parallel many other theories of human developmental psychology,
all of which focus on describing the stages of growth in humans.
Economic Indicator
• It is any economic
statistic, such as the
unemployment health,
Gross Domestic
Product (GDP), or the
inflation rate that
suggests how well the
economy is doing
now and how well it
might be doing in the
future. (9)
Gross Domestic Product (GDP)
• The nation’s broadest measure of economic
health; it reports how much economic activity
(all goods and services) has occurred within
the United States borders during a given
period. (9)
The Way We See the Problem
Is the Problem
• Can you see the old
lady?
• If you have a problem,
the actual problem is
that you are looking at
it as a problem. It
could be something
else, such as an
opportunity. When it
rains lemons, make
lemonade. You just
need a paradigm shift.
MONTHLY BUDGET
by Ronald O. McCants, M.Div., M.Ed.
• Income
• (How much money coming in from Job,
• Gifts, other.)
• Total Income
• Expenses
• Charity or donations
• Savings
• Rent or mortgage
• Utilities
• Phone
• Insurance
• Food
• Clothing
• Cleaning items
• Automobile Payment
• Automobile gas
• Loans
• Recreation
• Miscellaneous
• Total
• Net
(Net - Substract total Expenses from Income)
Amount
$________
$________
Amount
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
• Some people define financial success as being
able to actually live according to one’s
standard of living. (5)
• People who are happy about their finances
are likely to be spending within a budget and
taking steps to achieve their goals, and this
happiness spills over in a positive way to
feelings about their overall enjoyment of life.
Be Proactive
• Being proactive means
taking initiative, not
waiting for others to act
first, and being
responsible for what you
do. The opposite of
proactive is reactive.
Reactive people react to
what goes on around
them. Proactive people
act based on principles.
Financial Markets
• During sluggish economic times, consumer
confidence may slide, unemployment may rise,
and the stock market may decline 5 percent in a
week or just a day or two; however, this does not
mean that people should stop saving and
investing for their futures. Every generation has
faced similar uncertainties. You should be
optimistic about the long-term economic future
and make decisions that are best for your
personal finances. (9)
Financial Peace
• Through knowledge and discipline financial
peace is possible for us – all of us. (5)
Martin Luther King, Jr.
• “The ultimate measure of a man is not where
he stands in moments of comfort and
convenience, but where he stands at times of
challenge and controversy.” (25)