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Pay Yourself First

Pay Yourself First. You Will Know. Ways to save money How money can grow The difference between savings and investment accounts. Benefits of Paying Yourself First. Manage your money better Increase your savings Improve your standard of living. Saving Tips. Consider needs vs. wants

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Pay Yourself First

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  1. Pay Yourself First

  2. You Will Know • Ways to save money • How money can grow • The difference between savings and investment accounts

  3. Benefits of Paying Yourself First • Manage your money better • Increase your savings • Improve your standard of living

  4. Saving Tips • Consider needs vs. wants • Direct deposit to savings • Pay your bills on time • Use a checking account vs. check-cashing stores • Save extra money from raises or bonuses • Keep making loan payments to yourself • Save cash gifts

  5. Compound Dividends Exercise

  6. Compound Dividends

  7. Saving $1 a Day

  8. Saving $5 a Day

  9. Savings Accounts • Statement savings account • Passbook savings account • Club account • Money Market account • Certificate of Deposit (CD) • Share Certificate

  10. Investments • Stocks • Bonds • Mutual Funds • Shares in a Credit Union

  11. Retirement Investments • Individual Retirement Account (IRA) • 401(k) and 403(b) Plans • Keogh Plans and Simplified Employee Pension Plans

  12. Decision Factors • How much do you want to accumulate? • How long can you leave your money invested? • How do you feel about risking your money? • Your shares in a federal credit union are insured by the U.S. Government.

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