1. Managing your money Budgeting & Savings Strategies
Hao Hoang, Wells Fargo Financial Advisor
Xiomara Arroyo, Wells Fargo Program Manager
January 12th, 2017

2. Workshop goals
Learn specific steps you can take to help you develop a financial plan
Discover tools and tips you can use for money management
Set financial goals and make a commitment to implement at least one idea you hear today
“By failing to prepare, you are preparing to fail.”
- Benjamin Franklin

3. Take an inventory How is your overall financial health?
What are your spending habits?
What are your savings habits?

4. Determine your net worth
Create a personal balance sheet
“Assets” are what you own
“Liabilities” are what you owe
Your “Net Worth” is your assets minus your liabilities

5. Personal balance sheet example Mary and James Jordan

6. Your personal balance sheet5

7. How can I increase my net worth?
Increase my assets
Save more
Pay down my debt

8. Set financial goals Build an emergency fund Save for a vacation
Save for a child’s college education
Save for a home purchase
_____________________

9. Your financial goals – what’s important to you?8

10. Money saving tips Obtain buy-in from family
Focus on the number of dollars you need to save per day
Look at lower-cost alternatives
Shop around for the best interest rate
Pay yourself first
Take advantage of your company’s payroll deductions, if possible
Save bonus income
Save coupon money
Collect loose change
Review cell phone costs
Save lunch money
Save money from sales
Have a “Buy Nothing” week

11. A little bit goes a long way
Per day
5 days per week
Per year
Spent in 20 years
Invested for 20 years* $1 $5
$260
$5,200
$10,659 $3
$15
$780
$15,600
$31,976
$25
$1,300
$26,000
$53,294
Candy/
chips
Coffee
Lunch
*Based on 7% annual rate of return. Assumes a $30 bi-weekly investment. This example is for illustration purposes only and is not intended to represent the return of any specific investment. Estimates are based on the assumptions noted, do not guarantee or imply a projection of actual results, and do not include the effect of taxes. Wells Fargo cannot guarantee results under any savings or investing program, including a regular investment program, and cannot guarantee that you will meet your retirement savings goal.

12. Maximizing Your Savings
Hao Hoang, Financial Advisor
Hao Hoang is a Financial Advisor for Wells Fargo Advisors, LLC. He started his banking career in 2001 before joining
Wells Fargo Bank in His expertise spans the areas of investment management, estate planning, and managing
401(k) retirement plans. Hao uses an integrated, holistic approach that allows him to develop and implement strategies
to address his client’s needs. He proudly carries a Bachelor’s degree in Finance, Associate of Arts in Economics,
and is currently working towards his Certified Financial Planner designation at the University of California, Irvine
The Power of Compounding and Maximizing your Savings

13. Develop your strategy for balancing savings and debt
$10
Cash
$20
Long-term
progress
Debt
reduction
$10

14. Ten leading causes of overspending
The “latest and greatest” syndrome
Using credit instead of cash
Eating out
Borrowing from the future
Keeping up with the Joneses
Impulse buying
Money “burning a hole in your pocket”
Not knowing how much you have to spend
Rationalizing spending = “I need it because...”
Not knowing what you are spending your money on

15. What is the purpose of a spending plan?
Spending plans help you to:
Reach your goals
Stay focused
Show where you need additional help
Include family members in money management

16. Creating a spending plan
Spending plans help you to: 1. Track your spending 2. Itemize your income and expenses 3. Total and compare the income and expense columns to create your spending plan

17. My Budget Worksheet 16

18. Spending plan tips
Keep it simple—don’t get too detailed with your spending plan
Set aside money each pay period to cover large expenses that are not monthly (insurance bills, car repairs, holiday gifts, etc.)
Before you make a purchase ask yourself:
Do I really need it?
What would happen if I didn’t buy it right now?
Can I meet this need less expensively?
Limit your installment debts (car loans, credit card bills, other loans) to 10-20% of your monthly spending plan1
Review your bank and credit card statements to monitor where your money is going
1 Source: Hands on Banking® financial education website

19. Monthly spending plan review
Review your spending plan monthly and ask yourself:
Am I over or under my spending target?
Are my variable expenses in line?
What are my “budget busters”?
Are any expenses out of control?
Will I make my planned savings goal by year’s end?

20. In summary Getting ahead financially requires a long-term effort.
Consider today:
Where do I stand right now?
Where do I want to be one year from today?
Where do I want to be five years from today?
Reevaluate one year from today:
Calculate your net worth again and track it from year to year
Create a new balance sheet
Set goals and develop a new spending plan for the next twelve months
Remember, if your net worth is growing, you are getting ahead!

21. Moving forward What did you learn today?
What will you take away from this seminar and put to use in your financial life? (Don’t forget to write it down)
Questions?

22. Thank you
Thank you for participating in today’s Wells Fargo At Work workshop.
Please complete our evaluation form to tell us what you thought of our presentation and how we can make it better.