Improving Improving Finances, Finances, Improving Improving - - PowerPoint PPT Presentation

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Improving Improving Finances, Finances, Improving Improving - - PowerPoint PPT Presentation

Jan 10, 2024 24 likes •427 views

Improving Improving Finances, Finances, Improving Improving Lives Lives www.jeanchatzky.com About 100 Years Ago www.jeanchatzky.com How Is Your A Hot Relationship With Mess! Money? www.jeanchatzky.com How Would You Describe

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Improving Finances, Improving Lives Improving Finances, Improving Lives

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www.jeanchatzky.com

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SLIDE 3

About 100 Years Ago…

www.jeanchatzky.com

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A Hot Mess!

How Is Your Relationship With Money?

www.jeanchatzky.com

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How Would You Describe Your Relationship With Money?

  • Confusing
  • Frightening
  • Criminal
  • Chaotic
  • Necessary Evil
  • Stressful
  • Precarious
  • Unstable
  • Unnecessarily Complex

www.jeanchatzky.com

  • Confusing
  • Frightening
  • Criminal
  • Chaotic
  • Necessary Evil
  • Stressful
  • Precarious
  • Unstable
  • Unnecessarily Complex
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Effects of the Great Recession

  • Household Net Worth Down 40%
  • 14% of Mortgages Remain

Underwater

  • 80% of People Say Someone In

Their “Circle” Recently Laid-Off

  • Household Net Worth Down 40%
  • 14% of Mortgages Remain

Underwater

  • 80% of People Say Someone In

Their “Circle” Recently Laid-Off

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Changing Financial Responsibilities

Prior Generations

  • Pensions

Today’s Workers

  • 401(k)s and Other DC

Plans

  • Employer-Provided

Healthcare

  • Higher Co-Pays and

Deductibles

  • 401(k)s and Other DC

Plans

  • Employer-Provided

Healthcare

  • Confidence in

Medicare/Social Security

  • Higher Co-Pays and

Deductibles

  • Faltering Confidence

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SLIDE 8

Financial Literacy in America

  • Americans don’t understand basic

financial concepts

  • Investors don’t know how to avoid

investment fraud

  • Women, African-Americans,

Hispanics, the elderly, the uneducated, trail further behind

  • Americans don’t understand basic

financial concepts

  • Investors don’t know how to avoid

investment fraud

  • Women, African-Americans,

Hispanics, the elderly, the uneducated, trail further behind

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Women, Men and Money

  • Emergency Cushions
  • 43% of women, 63% of men
  • Comfortable with Debt Levels
  • 52% of women, 71% of men
  • Rebalance Investments
  • 25% of women, 49% of men
  • Emergency Cushions
  • 43% of women, 63% of men
  • Comfortable with Debt Levels
  • 52% of women, 71% of men
  • Rebalance Investments
  • 25% of women, 49% of men
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5 Habits For Financial Success

  • 1. Earn a decent living
  • 2. Spend less than you make
  • 3. Save, then invest, what you

don’t spend

  • 4. Protect your financial life with

insurance, estate plan

  • 5. Give back
  • 1. Earn a decent living
  • 2. Spend less than you make
  • 3. Save, then invest, what you

don’t spend

  • 4. Protect your financial life with

insurance, estate plan

  • 5. Give back
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Stuck At Step Two

  • 1. Earn a decent living
  • 2. SPEND LESS THAN YOU MAKE
  • 3. Save, then invest, what you

don’t spend

  • 4. Protect your financial life with

insurance, estate plan

  • 5. Give back
  • 1. Earn a decent living
  • 2. SPEND LESS THAN YOU MAKE
  • 3. Save, then invest, what you

don’t spend

  • 4. Protect your financial life with

insurance, estate plan

  • 5. Give back
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SLIDE 12

www.jeanchatzky.com

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Money Rule #1 Personal Finance Is More Personal Than Finance Personal Finance Is More Personal Than Finance

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Money Rule #26

Just Because Someone Will Lend It To You Doesn’t Mean You Should Borrow it Just Because Someone Will Lend It To You Doesn’t Mean You Should Borrow it

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Money Rule #42

Don’t Shop Angry Don’t Shop Angry

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Money Rule #43

Don’t Shop Sad Don’t Shop Sad

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Money Rule #44

Don’t Shop hungry Don’t Shop hungry

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This Is A True Story

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Money Rule #2 Money Is Simple, People Make It Complicated Money Is Simple, People Make It Complicated

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Does Money Make People Lose Their Minds?

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Money = Irrationality

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Divvy It Up?

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Money Rule #65 If There’s Already A Bandwagon, You’re Too Late To Get On It If There’s Already A Bandwagon, You’re Too Late To Get On It

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The Amygdala

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Money Rule #11

If You Can’t See It And You Can’t Touch It, You Won’t Spend It If You Can’t See It And You Can’t Touch It, You Won’t Spend It

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Money Rule #62

Automate Automate

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Money Rule #21

Save For Something Save For Something

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Your Brain and Money Choices

You see something you want Pleasure center in the brain fires up You get the item Dopamine rush

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Psyche Yourself into Saving: Visualize Your Goals

It’s not… Or

“Retirement”

It’s… Or

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is it that some people

Why

seem to move relatively easy from paycheck-to-paycheck into comfort or wealth, while others get stuck — or worse — fall back?

cribe

What’s The Difference?

seem to move relatively easy from paycheck-to-paycheck into comfort or wealth, while others get stuck — or worse — fall back?

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cribe

  • Happiness leads to

more money

  • Happier people live

longer, healthier

  • Happier people have

more job success

  • Moderate happiness is

key

The Upside Of Optimism

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  • Happiness leads to

more money

  • Happier people live

longer, healthier

  • Happier people have

more job success

  • Moderate happiness is

key

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Leave The Jargon At The Door

  • Almost 60% of women say

financial jargon is confusing.

  • More than 50% say it makes it

difficult to act.

  • Only 12% of US adults have

proficient health literacy.

  • Almost 60% of women say

financial jargon is confusing.

  • More than 50% say it makes it

difficult to act.

  • Only 12% of US adults have

proficient health literacy.

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My Mother Elaine

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We Know What We Don’t Know

  • Men learn: From technology
  • Women learn: From other people
  • Men judge: Financial advisers on

return

  • Women judge: On whether the

approach is holistic

  • Men learn: From technology
  • Women learn: From other people
  • Men judge: Financial advisers on

return

  • Women judge: On whether the

approach is holistic

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And The Biggest Difference?

  • Peace of Mind is 7x More

Important Than Accumulating Wealth

  • Half of women – one-third of

those earning $200K annually – have bag lady fears

  • Peace of Mind is 7x More

Important Than Accumulating Wealth

  • Half of women – one-third of

those earning $200K annually – have bag lady fears

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Money School

  • A series of live

webinars taught by me

  • Topics my readers

want: Debt, Retirement, Budgeting, Saving

  • Affiliate program with

revenue share

  • A series of live

webinars taught by me

  • Topics my readers

want: Debt, Retirement, Budgeting, Saving

  • Affiliate program with

revenue share

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SLIDE 40

How To Reach Me

facebook.com/jeanchatzky @jeanchatzky www.jeanchatzky.com

www.jeanchatzky.com

facebook.com/jeanchatzky @jeanchatzky www.jeanchatzky.com