Improving Improving Finances, Finances, Improving Improving Lives Lives
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About 100 Years Ago… www.jeanchatzky.com
How Is Your A Hot Relationship With Mess! Money? www.jeanchatzky.com
How Would You Describe Your Relationship Confusing Confusing With Money? Frightening Frightening Criminal Criminal Chaotic Chaotic Necessary Evil Necessary Evil Stressful Stressful Precarious Precarious Unstable Unstable Unnecessarily Complex Unnecessarily Complex www.jeanchatzky.com
Effects of the Great Recession Household Net Worth Down 40% Household Net Worth Down 40% 14% of Mortgages Remain 14% of Mortgages Remain Underwater Underwater 80% of People Say Someone In 80% of People Say Someone In Their “Circle” Recently Laid-Off Their “Circle” Recently Laid-Off
Changing Financial Responsibilities Prior Generations Today’s Workers 401(k)s and Other DC 401(k)s and Other DC Pensions Plans Plans Employer-Provided Employer-Provided Higher Co-Pays and Higher Co-Pays and Healthcare Healthcare Deductibles Deductibles Confidence in Faltering Confidence Medicare/Social Security www.jeanchatzky.com
Financial Literacy in America Americans don’t understand basic Americans don’t understand basic financial concepts financial concepts Investors don’t know how to avoid Investors don’t know how to avoid investment fraud investment fraud Women, African-Americans, Women, African-Americans, Hispanics, the elderly, the Hispanics, the elderly, the uneducated, trail further behind uneducated, trail further behind
Women, Men and Money Emergency Cushions Emergency Cushions 43% of women, 63% of men 43% of women, 63% of men Comfortable with Debt Levels Comfortable with Debt Levels 52% of women, 71% of men 52% of women, 71% of men Rebalance Investments Rebalance Investments 25% of women, 49% of men 25% of women, 49% of men
5 Habits For Financial Success 1. Earn a decent living 1. Earn a decent living 2. Spend less than you make 2. Spend less than you make 3. Save, then invest, what you 3. Save, then invest, what you don’t spend don’t spend 4. Protect your financial life with 4. Protect your financial life with insurance, estate plan insurance, estate plan 5. Give back 5. Give back
Stuck At Step Two 1. Earn a decent living 1. Earn a decent living 2. S PEND LESS THAN YOU MAKE 2. S PEND LESS THAN YOU MAKE 3. Save, then invest, what you 3. Save, then invest, what you don’t spend don’t spend 4. Protect your financial life with 4. Protect your financial life with insurance, estate plan insurance, estate plan 5. Give back 5. Give back
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Money Rule #1 Personal Personal Finance Is Finance Is More Personal More Personal Than Finance Than Finance www.jeanchatzky.com
Money Rule #26 Just Because Just Because Someone Will Someone Will Lend It To You Lend It To You Doesn’t Mean Doesn’t Mean You Should You Should Borrow it Borrow it www.jeanchatzky.com
Money Rule #42 Don’t Don’t Shop Shop Angry Angry www.jeanchatzky.com
Money Rule #43 Don’t Don’t Shop Shop Sad Sad www.jeanchatzky.com
Money Rule #44 Don’t Don’t Shop Shop hungry hungry www.jeanchatzky.com
This Is A True Story
Money Rule #2 Money Is Money Is Simple, Simple, People People Make It Make It Complicated Complicated www.jeanchatzky.com
Does Money Make People Lose Their Minds? www.jeanchatzky.com
Money = Irrationality www.jeanchatzky.com
Divvy It Up? www.jeanchatzky.com
Money If There’s If There’s Rule #65 Already A Already A Bandwagon, Bandwagon, You’re Too You’re Too Late To Get Late To Get On It On It www.jeanchatzky.com
The Amygdala www.jeanchatzky.com
Money Rule #11 If You Can’t If You Can’t See It And See It And You Can’t You Can’t Touch It, You Touch It, You Won’t Spend Won’t Spend It It www.jeanchatzky.com
Money Rule #62 Automate Automate www.jeanchatzky.com
Money Rule #21 Save Save For For Something Something www.jeanchatzky.com
Your Brain and Money Choices You see Pleasure center in You get the Dopamine rush something you the brain fires up item want
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Psyche Yourself into Saving: Visualize Your Goals It’s not… “Retirement” Or It’s… Or
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What’s The Difference? cribe Why is it that some people seem to move relatively easy from seem to move relatively easy from paycheck-to-paycheck into paycheck-to-paycheck into comfort or wealth, while others comfort or wealth, while others get stuck — or worse — fall back? get stuck — or worse — fall back? www.jeanchatzky.com
cribe The Upside Of Optimism Happiness leads to Happiness leads to more money more money Happier people live Happier people live longer, healthier longer, healthier Happier people have Happier people have more job success more job success Moderate happiness is Moderate happiness is key key www.jeanchatzky.com
Leave The Jargon At The Door Almost 60% of women say Almost 60% of women say financial jargon is confusing. financial jargon is confusing. More than 50% say it makes it More than 50% say it makes it difficult to act. difficult to act. Only 12% of US adults have Only 12% of US adults have proficient health literacy. proficient health literacy.
My Mother Elaine www.jeanchatzky.com
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We Know What We Don’t Know Men learn: From technology Men learn: From technology Women learn: From other people Women learn: From other people Men judge: Financial advisers on Men judge: Financial advisers on return return Women judge: On whether the Women judge: On whether the approach is holistic approach is holistic
And The Biggest Difference? Peace of Mind is 7x More Peace of Mind is 7x More Important Than Accumulating Important Than Accumulating Wealth Wealth Half of women – one-third of Half of women – one-third of those earning $200K annually – those earning $200K annually – have bag lady fears have bag lady fears
Money School A series of live A series of live webinars taught by me webinars taught by me Topics my readers Topics my readers want: Debt, Retirement, want: Debt, Retirement, Budgeting, Saving Budgeting, Saving Affiliate program with Affiliate program with revenue share revenue share
How To Reach Me facebook.com/jeanchatzky facebook.com/jeanchatzky @jeanchatzky @jeanchatzky www.jeanchatzky.com www.jeanchatzky.com www.jeanchatzky.com
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