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The Five Foundations Presentation

By Chris & Zoey

The Five Foundations

The Five Foundations are what all students need to succeed through life financially

1. Save $500 emergency fund

2. Get out and stay out of debt

3. Pay cash for your car

4. Pay cash for college

5. Build wealth and give

1. Save a $500 emergency fun

1. Save a $500 emergency fund

Purpose's:

- Unemployment

- Urgent medical procedures

- Emergency home repair

- Unforeseen auto repair

- Sudden death or disability

Importance

Saving $500 is important because a lot of times in life there can unexpected accidents that can happen.

Importance

Relation to Financial Sucess

Having $500 saved relates to financial success because if you fail or somethign bad happens you can fall back onto the saved money.

Relation to financial success

Build Wealth and Give

Purpose:

Humans need welath to pay for all things in life. Giving also makes humans feel less selfish.

5. Build Wealth and Give

Importance

Giving to other makes you feel less selfish, and less selfish people have more of a tendency to do better in both relationships and in wealth building.

Steps

1. Start by making a plan

2. Make a budget and stick to it

3. Build your emergency fund

4. Automate your financial life

5. Get rid of your debt

6. Max out retirment savings

7. Up your earnings

8. Give to others for well being

Relation to Financial Success

Saving money and building wealth is already succesful enough. But to be evn more successful is to give to others and be a great human being.

Relation To Financial Success

2. Get Out and Stay Out of Debt

Purpose's:

- Won't be stressed

- Won't owe any money to others

Importance

It is important to stay out of dept because it can drain your cash and you can treat yourself instead of having to worry about your next payment.

Importance

Steps

1. If your in debt, pay back your debt

2. Quit borrowing money

3. Get a job

4. Save money

Steps

Relation to Financial Success

If your out of dept then you don't have to make payments so you can only gain money.

Relation to Finacial Success

Pay Cash For Your Car

Purpose's:

- You'll avoid interest

- You hold the buying power

- You set the budget

- Decrepiation doesn't matter

-The cars in yours

3. Pay Cash For Your Car

Importance

You don't have to concern yourself with qualifying for a loan.

Importance

Steps

1. Set your budget

2. Save your money

3. Shop at the right place

4. Shop for the right car

5. Get an inspection

6. Negotiate a good price

Relation To Finacial Success

If you pay for your car you won't have interest to pay for on top of all yournother payments, so you owe nothing. Which owing nothing will help you build your salary.

Pay Cash For College

Purpose:

You won't owe any student loans and you can obtain any free scholarhips or grants.

4. Pay Cash For College

Importance

If you can pay cash for college, it means that you are not taking out loans to be repaid later.

Importance

Steps

1. Save money

2. Search for scholarships

3. Choose an affordable school

4. Pay with cash so you don't have to pay with loans or grants

Relation To Finacial Success

Relation To Financial Success

Most people are still paying off there student loans or are in college debt. If you pay college with money then you don't have to pay off dept a large portion of your life and you can always be gaining salary.

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