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Show Me the Money (Financial Management 2)
Kalani Fujiwara will introduce you to the many ways on investing your money for your future. Save for a rainy day! What are your life goals? A fast Car?, Big House?, Lots of Blng? How do I achieve my dreams and live a rich and fullfilling life!
"Show Me the Money," a well-known phrase uttered by characters in the 1996 film Jerry Maguire. When people say this, they either want to know how much they will be paid for something or want to see evidence that something is valuable or worth paying for.
When:
Thursday, April 18, 2013
Where:
Lama
118 (Behind Library)
Time:
10:45 am - 11:48 am
Check out part I of this financial management series
Financial Literacy is not taught effeciently in Hawaii and US.
Good Financial Management is a lifestyle, not a mode or temporary
The choices you make defines the person you are (Kalani's IS 103 Mantra)
Good Financial Management skills starts with what's important for you in the future
College students (especially millenials 18-25) - confusion between long term goals vs instant gratification.
First Step is Mufi's Way (Recap)
Three steps Mayor Hanneman emphasizes in spending our Tax Dollars, is a start for financial management basics for college students.
#1 Do you "really" need it? (Impulse Buying or Stress Relief)
#2 Can you "really" afford it? (No borrowing or Skipping Payment)
#3 Can you "really" maintain it? (The hidden extra costs?)
FINANCIAL MANAGEMENT PART 2
Look at the Big Picture
Tuition Sticker Shock Syndrome
Money is a Thing
You can make it with good Planning and Management Skills
There are ways to accumulate or get via Institutional Means
Don't let fear of not being able to afford stop you
Instant Gratification VS Long Term Goals
Financial Management TOOLS
Many of the tools are the same as Time Management Tools
Just Substitute Time for Money
TOOL #1 Calendar
Helps you organize input and output of income
Helps you with financial planning
Chart your financial goals
Helps Ilustrate your major spending activites
TOOL #2 Notebook (Paper kind) and or Steno Pad
Helps you track you daily spending
Write the what and how much you spend
Keep track of your spending. Make sure you account for every dollar you spent.
Helps to Illustrate your daily spending habits and you can find ways to cut costs on some expenses
TOOL #3 Make a Budget Plan for your Daily Expenses
Helps organize the detail amounts that you spend on daily expenses
Helps you chart your financial goals
Helps to Illustrate your spending habits and you can find ways to cut costs on some expenses.
Plan Realistic and Conservatively
TOOL #4 Make a Long Range Financial Plan
Helps you for major expenses up to 6 months to one year ahead of time
Helps you chart for your long-term financial goals and savings plan
Helps you focused on Good Habit of Savings and not spending
Plan Realistic and Conservatively
Avoid the Money Traps (major tips)
1) Never borrow money or take out a loan unless you have too
