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Bell Ringer - PowerPoint Presentation

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Uploaded On 2015-11-02

Bell Ringer - PPT Presentation

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

debt 000 candy pay 000 debt pay candy years credit americans expenses card car mins daily save monthly loan

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Presentation Transcript

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