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YIS Module 1 - Lesson 5

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Young Investors Society

on 12 October 2016

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Transcript of YIS Module 1 - Lesson 5

OVERVIEW
In this lesson you will learn the common mistakes that should be avoided in your life.
OBJECTIVES
At the conclusion of this lesson, you should:
Gain an understanding of how
NOT
to lose money
MODULE
1
FIVE STEPS TO FINANCIAL FREEDOM
|
Lesson 5
AVOIDING THE COMMON MISTAKES
Curriculum, videos and lesson plans.
YIS Website
www.younginvestorssociety.org
YIS Glossary of Terms
www.younginvestorssociety.org/resources
For stock charts and basic company information.
YAHOO
FINANCE
finance.yahoo.com
The Early Investor (YIS Edition): How Teens & Young Adults Can Become Wealthy
MICHAEL
ZISA
http://goo.gl/HdYyQQ
Online portal of stock research reports.
SEEKING
ALPHA
www.seekingalpha.com
Great daily content and stock picks.
MOTLEY
FOOL
www.fool.com
ADDITIONAL
RESOURCES
CLICK
on the blue rectangles to get the website and description of the resource
HIT
after watching a resource to return
here

to continue with the Prezi
LET'S

BEGIN
Write a letter to mentor future learners of this course
HANDOUT
5
EARN

THE
FIVE STEPS
TO

FINANCIAL
FREEDOM
MONEY
1
MONEY
SAVE
2
DEVELOP
A FINANCIAL PLAN
INVEST
HARNESS THE POWER OF
COMPOUNDING
AVOID
THE COMMON MISTAKES
3
4
5
Lets
REMEMBER
...
What are the
FOUR STEPS
FOR FINANCIAL FREEDOM
we have learned so far?
STUPID
So far we have learned the formula for making money
or don't be
LOL
a list of ways that people do
stupid things with their money
LET'S CREATE
(A.K.A. “THE STUPID LIST”)
In our digital world, scam artists are everywhere. If it sounds too good to be true, it usually is. Do your homework before pressing the button.
If ever you are approached by a friend or family member about “cheating” the system, walk, or even run, away. Cheating causes consequences for you as well as other people who are trying to make a living and grow their money honestly. Cheating also causes greed….and greed will eventually sink your financial ship.
If you earn 1% interest for the year in your bank account, but inflation is 3% for the year,
THE SIX COMMON
FINANCIAL MISTAKES
Going into

Spending

TOO MUCH
This goes without saying. Remember to live within or below your means
DEBT
Unnecessary debt is a recipe for financial disaster! If you don’t have the money to pay for it,
Falling for
SCAMS
Another recipe for disaster.
GAMBLING
(Trying to Time the market)
Fact:
If you are out of the stock market for the 10 best performing days of the year, your potential gains for the year are essentially wiped out.
CAUTIOUS
Being too
you actually lost -2%!!
CHEAT
Trying to
Remember
budget exercise in lesson two?
WRITE DOWN
"lost opportunities" of spending too much money
common financial scams and how to avoid them
and define the
‘Real Rate of Return’
%
-
LOOK UP
LOOK UP
What are some of the consequences of being guilty of insider trading?
real-life examples of investors who were found guilty of insider trading.
Financial pitfalls
My Commitment
Who do I want to be in 30 years (career, family life, impact on the world)?
How do I expect to achieve my goals?
What are the lessons learned during this module The Five Steps to Financial Freedom that I felt were important?
End with a Commitment Statement: “I want you to know that I commit to making this happen by…” “I know I can succeed because…”
Remember sign up for the
DOLLAR-A-DAY
CHALLENGE
www.younginvestorssociety.org
Learn more

HERE
LEARN TODAY
Module
2
Picking Great Stocks
Start a
YIS
club
and register here
www.younginvestorssociety.org/join
Continue
learning about how to invest successfully in the stock market
For basic stock concepts.
WALLSTREETSURVIVOR
www.wallstreetsurvivor.com
LET'S

PLAY
https://play.kahoot.it/#/k/852cfb0e-4332-48c3-9bc7-b6ae7a06f1a5
Full transcript