Money Management Tips
Name one tip for money management?
Differentiate between needs & wants
Have an emergency fund
Have a shopping list- don't shop hungry
Pay your bills on time
Live below your means
What is the first step when it comes to buying a car?
Preparation
What percentage of US are in debts?
About 80%
What is the superpower of credit union movement?
Empathy
Why did the IRS audit a chiropractor?
Because he owed back taxes
What is the foundational principle of financial freedom?
Budgeting
Three things to know before you shop for a vehicle
Your budget - can you afford it?
Credit score
Get pre-approval letter
Know what kind of car you want
What are 2 steps into dealing with debts?
Be serious
Do not get in more debts
Make a list of all your debts
What is the credit union movement's philosophy?
People helping people!
Why did the lawyer bring a ladder to court?
They heard the case was up for appeal!
As you look at you budget what are the two goals to focus on?
Reducing your expenses
Increase your income
Reveal your money habits
Tips on car maintenance?
Tire pressure and alignment
Monitor fluids
check brake pads
Shop for insurance
What is the key to paying your debts?
Planning
Budgeting
Persistence
How can INOVA help you build your credit?
Credit builder loan
Secured Visa credit card
Debt consolidation
Budgeting
Coaching and counseling
GreenPath - debt management
What do you call a priest who becomes a lawyer?
A father-in-law!
Why should you pay your court fees on time?
That it shall be well with you!
Avoid late fees
Because you are getting better in everything
Peace
Other costs associated with owning a vehicle
Gasoline
Oil & fluids
Maintenance & repairs
Parking & tolls
What plan have you come up with to pay your debts?
Share anything reasonable
Why are Credit unions mostly preferred?
Member owned
Non-for profit
Lower to no-fees
Better dividends
Community and financial education focused
How is debt like a cloud?
It hangs over you all day.
How can INOVA help you achieve financial freedom?
Credit building
Investing resources
Coaching and counseling
Debt management
Name 4 mistakes to avoid when buying the vehicle
Not doing research online
Agreeing to dealer financing too quickly
Not taking the shortest term
Bowing to salesman pressure
Not knowing what you want
What are you doing to achieve financial freedom?
Everyone in the group share one thing
What is the mission of INOVA Federal CU?
To help members improve their financial wellbeing!
Why don't skunks have to pay taxes?
They have got only one scent!