Finances (Save, Spend, Give)

What's your financial story?

Some Statistics:

• Total consumer debt totaled $4.144 trillion in quarter three of 2019, a 4.7% increase from quarter three of 2018. 
• Average consumer debt per capita is approximately $12,687 (total consumer debt as of November 2019/total US population as of January 9, 2020).
• Total revolving consumer debt was $1.083 trillion in November 2019
• Total revolving consumer debt rose 3.8% between quarter three of 2018 and quarter 3 of 2019.
• Average revolving debt per capita is approximately $3,299 (total consumer debt as of November 2019/total US population as of January 9, 2020).
• One in ten adults says they carry a credit card balance over $5,000. [Source: NBC]
• Total non-revolving consumer debt was $3.089 trillion in November 2019. 
• Student loans totaled $1.636 trillion in September 2019. 
• Auto loans totaled $1.189 trillion in September 2019.
• Average loans per student equal approximately $82,170 (total student loans in September 2019/total students enrolled in public or private universities in 2019)*Resource: https://www.lexingtonlaw.com/blog/loans/consumer-debt-statistics-2019.html 

Budget

• Making monthly calendars full of bills and income
• Open up the mail as many people avoid opening up their mail
• Cash envelopes for budgeted amounts
• Every Dollar is a resource (Dave Ramsey/Rachel Cruze

Resources:

-His/Her Money Podcast

-Dave Ramsey, 7 Baby Steps

1. Save $1,000
2. Debt Snowball, Pay off all consumer debt less the house
3. Save 3-6 months of living expenses
4. Invest 15% of household income in retirement
5. Save for children’s college fund
6. Pay off home early
7. Build wealth and give

Tips: (Save, Spend, Give, Earn)

• Spend less than you earn
• Have a side hustle
• Delay instant gratification
• Cut bills
• Use a coin jar
• Automatically save from a bank account on payday or weekly
• Side hustles (DoorDash, Uber, Poshmark, PT Job, What gifts do you have)
• Work more hours on your regular job
• Automatically invest each week
• Get kids, nieces and nephews investment accounts for birthdays with $25 in them and add $5 per week or month to them.

Music Credit: Mitchell Huntley, Power of Love, “Freestyle".

Transcript

What's your financial story?

Some Statistics:

• Total consumer debt totaled $4.144 trillion in quarter three of 2019, a 4.7% increase from quarter three of 2018. 
• Average consumer debt per capita is approximately $12,687 (total consumer debt as of November 2019/total US population as of January 9, 2020).
• Total revolving consumer debt was $1.083 trillion in November 2019
• Total revolving consumer debt rose 3.8% between quarter three of 2018 and quarter 3 of 2019.
• Average revolving debt per capita is approximately $3,299 (total consumer debt as of November 2019/total US population as of January 9, 2020).
• One in ten adults says they carry a credit card balance over $5,000. [Source: NBC]
• Total non-revolving consumer debt was $3.089 trillion in November 2019. 
• Student loans totaled $1.636 trillion in September 2019. 
• Auto loans totaled $1.189 trillion in September 2019.
• Average loans per student equal approximately $82,170 (total student loans in September 2019/total students enrolled in public or private universities in 2019)*Resource: https://www.lexingtonlaw.com/blog/loans/consumer-debt-statistics-2019.html 

Budget

• Making monthly calendars full of bills and income
• Open up the mail as many people avoid opening up their mail
• Cash envelopes for budgeted amounts
• Every Dollar is a resource (Dave Ramsey/Rachel Cruze

Resources:

-His/Her Money Podcast

-Dave Ramsey, 7 Baby Steps

1. Save $1,000
2. Debt Snowball, Pay off all consumer debt less the house
3. Save 3-6 months of living expenses
4. Invest 15% of household income in retirement
5. Save for children’s college fund
6. Pay off home early
7. Build wealth and give

Tips: (Save, Spend, Give, Earn)

• Spend less than you earn
• Have a side hustle
• Delay instant gratification
• Cut bills
• Use a coin jar
• Automatically save from a bank account on payday or weekly
• Side hustles (DoorDash, Uber, Poshmark, PT Job, What gifts do you have)
• Work more hours on your regular job
• Automatically invest each week
• Get kids, nieces and nephews investment accounts for birthdays with $25 in them and add $5 per week or month to them.

Music Credit: Mitchell Huntley, Power of Love, “Freestyle".

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