4. 4 Discussion What kind of things do you think will yield the most happiness to you over the next 40 years?
5. 5 Chunk 1:Plan to be generous Plan to give money to other people Income taxes benefit society Education Defence, judiciary, police Leadership and admin Welfare (the poor) Family Charities Community organisations Church or other place of worship
6. 6 Chunk 2:Plan for the Future House paid off Use your superannuation to create financial independence Insurance to protect against worst case scenarios Plan for your death (have a will) Save for big expenses Invest your savings
7. 7 Discussion On what things is it easy to spend too much money as a student?
8. 8 Chunk 3:Plan to be content Spending 110% of your income Manage your living expenses This is the residual chunk of thepie, not the first chunk! Focus on contentment … not upgrades Focus on people … not possessions Track expenses … budget to cut back by 10% Never pay interest
19. Never pay interest … except investments4. Grow your pie Cash flow from labourCash flow from investments
20. 10 Top 10 tips from Clitheroe Have a plan (in writing) Budget and take control of your money Save little, save often Avoid punting and silly risks Don’t plan to save cash Plan to own your home debt-free Super is good – use it Minimise tax Protect your assets Take advice if you need it
21. Stop and read Now read: Chapter 1 Ten Steps to Financial Security 11