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Know the Flow - My Money and Me (Part 1 of 4)

2013 My Money & Me Webinar Series
Presented by Mark B. Robinson, CIMA® AIFA® and Wanda J. Roberts

Sept. 11 - Part 1 of 4: KNOW THE FLOW - My Money & Me!
During this session participants will learn how to create a household assets, liabilities and net worth statement and cash flow statement. Going beyond the numbers, they will learn about the interrelationship between assets, liabilities, income and expenses and how each may affect their perceived and actual net worth. Participants will also learn the difference between consumption, saving and investing. Within this context, participants will learn about the three basic financial asset classes: stocks, bonds and cash; their risk and return attributes and potential contribution to income and net worth.

Learning Targets
- Identify and categorize various types of assets
- Identify and categorize various types of liabilities
- Know how to calculate personal net worth
- Know how to create a personal assets, liabilities and net worth statement
- Identify and categorize cash inflow (money in) and cash outflow (money out)
- Know how to create a personal cash flow statement
- Know the differences between consumption, saving, and investing
- Know the three basic asset classes: stocks, bonds, cash, and their risk and return attributes

Plus - - -

Sept. 25 - Part 2 of 4: MONEY: GETTING TO KNOW YOU - My Money & Me!
Using knowledge gained from Part One, participants will examine how debt and spending-related patterns are behavioral or habitual in nature, and that the process for modifying any negative patterns starts with gaining insight into the factors that form and perpetuate both positive and negative relationships with money. With assistance from the instructor, attendees will analyze an example assets, liabilities and net worth statement and cash flow statement for potential and actual problems using personal finance ratios. Attendees will learn the difference between asset allocation and diversification, the difference between ‘risk’ and volatility and how it applies to investment-related decisions. The session concludes with three fundamental concepts for building net worth within the financial markets.

Learning Targets
- Identify potential and actual money problems by analyzing an example assets, liabilities and net worth statement, income statement, balance sheet and cash flow statement
- Define asset allocation, diversification, ‘risk,’ volatility, correlation, ‘variance drain’ and how they apply to investment-related decisions
- Know three fundamental concepts for building wealth
- Saving and investing
- Asset allocation
- Compounding over a multiple-year period

Oct. 9 - Part 3 of 4: GETTING S.M.A.R.T ABOUT GOAL SETTING AND SPENDING - My Money & Me!
In this third part of the series participants will learn how to set goals using S.M.A.R.T. criteria and how to develop a personal spending plan to meet those goals. Participants will also learn how behavior and emotion-based assumptions about money and spending may negatively affect how money-related decisions are made. Attendees will be presented with a Money Personality Profile worksheet to help them better understand their relationship with money. Examples on what types of financial instruments are appropriate for meeting short-term goals, and what types of investments are more appropriate for reaching longer-term goals conclude the session.

Learning Targets
- Overview of behavioral economics
- Identify how and why most money-related decisions are made
- Know how to utilize the SMART goals model to set financial goals
- Know how to develop a sensible and realistic spending plan for reaching financial goals
- Differentiate between immediate, short-term, intermediate and long-term financial goals
- Understand what types of financial instruments are more appropriate for meeting short-term goals, and what types of investments are more appropriate for reaching longer-term goals

Oct. 23 - Part 4 of 4: MANAGE YOUR FUTURE NOW - My Money & Me!
“The only way to deal with the future is to put yourself in a space where you are functioning effectively now.” - Mark B. Robinson

In this session participants will examine the connotations of ‘risk’ and ‘safe’ and how our various interpretations of them may affect our future. Example age-based action plans and check lists for managing the future now will be outlined including check lists for dealing with emergencies and the transfer of information, records and intentions to spouses and family members. The session concludes with instruction on the importance of being informed, aware and adaptive.

Learning Targets
- Utilize an aged-based checklists for getting control over financial-related issues
- Account organization and consolidation
- Understand age/risk-based example asset allocation
- Understand the importance of measuring returns and being informed, aware and adaptive on matters related to the financial markets

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The My Money & Me webinar series has been accepted by the Association for Financial Counseling and Planning Education (AFCPE®) continuing education (CEU) Department for .5 hours of credit for each webinar with a total of 2.0 CEUs. AFCPE will enter this information into their database towards 2012/2013 CEU requirements once members provide proof of completion. Member account status can be checked anytime at http://members.afcpe.org . AFCPE continuing education details can be found here: http://www.afcpe.org/certification/continuing-education.php.

Created by Wanda Roberts

1 Comment

Though the recording starts out with some static and does cut out for a moment, the presentation does get on track so hang in there as you view the recording. Thanks!

Thumb_wanda_jean_blue_shirt Wanda Roberts

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7 months ago