Personal Budgeting Made Simple

Rod WiltroutBy PresenterMedia.com

• Make wise money decisions• See where your money goes• Make sure everything gets paid: ON TIME!• Define essential costs vs. non-essential spending

• Get rid of your debt• Plan for the future• Plan for retirement: it will happen at some point

• You Need a Game plan!• By the way, a $3.00 latte daily is over a $1,000 out of your annual budget. Just a thought…

Why Have a Budget?

•Married Couple•Double income•No children•College debt•Credit card debt•Car payments•Rent

Budget Parameters: Who are These People?

Define your Income

Define your Income

Put in Your Expenses

Put in Your Expenses

Put in Your Expenses

Put in Your Expenses

How Much am I Spending in Each Area

… And You Can Graph It!

ChildrenEntertainmentFoodGifts & DonationsHousingInsuranceLegalLoansPetsPersonal CareTaxesTransportation

Put in Your Expenses

So, what d

o we do

NOW?

• Increase Income and Decrease Expenses!• Get a second or third job• Take out the non-essentials• Sell your “stuff”• Create a Debt Reduction Snowball!

Everyone has this Problem to Some Extent!

Fixing Your Budget

Creditors Monthly Payment Total DebtStudent Loan (10 yr.)

$450.00 $ 40,000

Credit Card #1 $ 50.00 $ 2,500Credit Card #2 $ 75.00 $ 4,000Car Repair $ 20.00 $ 350Total Debt $ 595.00 $ 46,850

Reduce Installment Debt

On College Loan:Interest paid on Student loan

$ 13,033

With Extra $145 Payment

$ 8,873

Original Payments 118With Extra Payments

83

Payments Saved $ 4160 interest saved

35

$40,000, 10 yr., 6% LoanOn Just the Student Loan…

Rod Wiltroutrwiltrout@csbc.com(559) 287-7840 cell phone

Now you have the Keys t

o

building a su

ccessf

ul

Personal b

udget!