You ordered a meal at Taco Bell for you and your date The total of the meal was 2107 You gave the cashier 3000 How much change will you receive Bell Ringer Answer 3000 2107 893 ID: 180335
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Slide1
Bell Ringer
You ordered a meal at Taco Bell for you and your date. The total of the meal was $21.07. You gave the cashier $30.00. How much change will you receive?Slide2
Bell Ringer Answer
$30.00 – $21.07 = $8.93Slide3
Agenda
Announcements / Attendance – (4
mins
)
Introduction to Savings – (2
mins
)
Dave Ramsey Video – (11
mins
)
Follow along and take notes in your workbook
Clay’s Candy Bar Madness – (10
mins
)
Dave Ramsey Video – (13
mins
)
Follow along and take notes in your workbook
Impact of Daily Decisions ActivitySlide4
Clay’s Candy Bar Madness
As the bag of candy is being passed around, please only take 1 piece. There is only enough candy for 1 per person.
DO NOT EAT UNTIL I GIVE YOU PERMISSION!Slide5
Candy Percents
Candy
Percentage of Students
Butterfingers
2%
Smarties
10%
Dum
Dums
70%
Jolly Ranchers
16%
Milky
Ways
2%Slide6
Reality Tastes Kind of Sour
Candy
People Group
Butterfingers
Millionaire's Club
Smarties
Debt Free and Living Large
Dum
Dums
Normal, Broke, Busted, and Disgusted
Jolly Ranchers
Bankrupt: Zero,
Zilch, Nada (“The American Dream)
Milky
Ways
Death
by Visa: Mounting Pressure and DebtSlide7
Butterfinger: Millionaire’s Club
Statistically speaking, you represent a portion of society that adheres to a financial game plan, avoids debt, invests early, and is wise with their resources.
2% of AmericansSlide8
Smarties
: Debt Free and Living Large
You’ve paid for your college education, your car, and your house-and you have a fully funded emergency fund.
You live within your means, save, and pay for things with cash.
You started saving for retirement a little late, but other than that you’re looking good.
10
% of AmericansSlide9
Dum
Dums
: Normal, Broke, Busted, and Disgusted
23 year old college graduate
Total debt is $45,000 (car $21,000; school loan $20,000; credit card $4,000)
Annual Income: $40,000
Monthly Take-Home Pay: $2,500
Total Monthly Expenses: $2,125
You’ll have to save for three months to get over $1,000 in the emergency fund.
It will take you 10 years to pay off your student loan and five years to pay off your car and credit card by making only the minimum payments.
7
0
% of AmericansSlide10
Jaw Breakers: Bankrupt! Zero, Zilch, Nada (The American Dream)
Married, 28 years old, 2 kids, and a dog.
You are your spouse bring debt to the marriage total $85,400. (Car loans- $42,000; School Loan- $35,000; Credit Card - $8,400)
Annual Income = $80,000
Monthly Take Home Pay = $4,700
Total Monthly Expenses = $4,555
You’ll have to save ore than seven months to get over $1,000 in the emergency fund.
It will take you a minimum of 10 years to pay off your credit card, 15 years to pay off your student loan, and you will always have a car payment because you can’t save up for one given your current expenses.
12 years from now, you have no money in the bank and the kids need to go to college.
You can’t make it, file bankruptcy, and most likely divorce.
16% of AmericansSlide11
MilkyWay
: Death by Credit Card Debt
Same as the “American Dream” but add another $100,000 in debt (credit cards, mortgage, cars, boats, furniture)
Under all the pressure you may lose hope and commit suicide.
2% of AmericansSlide12
The Impact of Daily Decisions
Fill in the missing blanks by computing the daily and monthly cost of each item listed.
(Use 30 days in a month)
Make your own chart by evaluating your frequent expenses and computing the daily and monthly cost.
Go to daveramsey.com/
investingcalculator
and use the advanced version to figure out the future value of your expenses if you invested that money for 30 years.
Answer the additional questions on the worksheet.
Turn in to the tray upon completion.Slide13
Example of Investing Calculator