freedom. options choice. the ability to change careers, the option to buy a new car, the power to...
TRANSCRIPT
Freedom.
OptionsChoice.
The ability to change careers, the option to buy a new car, the power to take a vacation. By applying the financial principles of successful corporations to your personal finances, we empower you to take control of your future.
M.Y.O.B.U. is a community of people, resources and courses. We are the secret weapon of successful people. Taking a whole life approach to finances, we consider how each financial decision affects your overall happiness and wealth. We specialize in breaking it down into simple obtainable steps.
WEALTHY PLACE STEPS TM
HIRE YOURSELF
PAY YOURSELF
ENJOY YOUR WEALTHY
PLACE
FIRE YOUR DEBT
MANAGE YOUR
EMPLOYEES
USE YOUR EMPLOYESS
WISELY
GROW AND GIVE
$ 100$ 12$ 28$ 7
$ 15$ 10$ 3$ 20
The average Kellogg Graduate earns $130,000 salary per year
33%
$78,000actual take home
60%
$42,900taxes
3%
$3,900retirement
4%
$ 5,200Insurance
PRIORITIZE THEN ALLOCATEWalk through all your expenses & spend the money on paper or in the M.Y.O.B.U. App before you get paid.
HOW TO BUDGET
RECOMMENDED PERCENTAGES
TRANSPORTATION
10%
INVESTING
10%
DEBT
0%
LIVING
30%
GIVING
10%
GOALS
10%
HOUSING
25%
UTILITIES
5%
TRACK ITTracking your expenses with the M.Y.O.B.U. app is the only way to know where you stand financially.
debt
Travel
Choose whereyou workEnjoy your life
Choose where you live
AVERAGE KELLOGG GRADUATE’S STUDENT LOANS
$69,0007otal Interest Paid
M.Y.O.B.U. IS ABOUT GIVING YOU FREEDOM, CHOICE & OPTIONS.Eliminate debt immediately so you can
First payment due 6 months after graduation
40%of Amount Borrowed
$244,000.Total Payments
$175,000Total Borrowed
$2,030 /mo.7% Interest at 10 Years
6months
debtWHAT YOU COULD HAVE DONE WITH $69,000
7Five Star Trips
BMW 5 Series
(in cash)
Furnish your Home
35Full Sets of Callaway Golf Clubs
3Presidential Rolex Watches
230Bottles of Ace of Spades Champagne
69Pairs ofChristian Louboutin’s
46Louis Vuitton Handbags
Debt: WHAT IF
$51,000 $90,000 $280,000 $870,000$2,700,000
5 YEARSof your life
$36,000In interest payments
IF YOU INVESTED THAT $36,000 IT WOULD BE:(At $600 per month for the 5 years after paying off your student loans)
Let’s imagine you follow the M.Y.O.B.U. suggestions and pay off your student loans in 5 years instead of 10. You’d save:
Earnings
Value
How many years earlier could you have retired?
Imagine, if you continue over paying for all the major life purchases, wedding, car, house, furniture etc.
$15,000 $54,000 $244,000 $834,000$2,664,000
5 YEARS 10 YEARS 20 YEARS 30 YEARS 40 YEARS
What you Drive
LIFE TIME CAR COSTS
Maintenance
Gas
Parking & Storage Fees
Car payment (not rec.)
Auto Insurance
Tolls
TRANSPORTATION 10%WHAT’S IN THE PERCENTAGE:
Pickup Truck($43k)
Luxury Car($65k)
Midsize Sedan($27k)
$516,000
$780,000
$324,000
What you DriveHOW LONG YOU DRIVE IT
12 Cars 9 Cars 8 Cars
$1,560,000
$1,170,000
$1,040,000
New Luxury Car Every
Cars from age 30-75
DOUBLE if you get married
Single $780,000
$585,000
$520,000
Plan on have kids? Each one of them will need a car too.
Keeping a car just 1 year longer significantly lowers the total lifetime spending by $195,000. Double that if you plan to get married.
4 YEARS5 YEARS
6 YEARS
WHERE YOU LIVEHOUSING 25%WHAT’S IN THE PERCENTAGE::Rent
Renter’s Insurance
Mortgage
Home Owner’s Insurance
Hazard Insurance
Property Taxes
Home Owner’s Association Fees
WHERE YOU LIVEBEFORE YOU BUY A HOUSE
Save 20%Downpayment
Housing is still 25% or less of
income
Debt free Save FullEmergency Fund
Ensure workpermanence
Prove consistency with income and discipline with
budget
Know the area Distance fromfrequently traveledplaces
The average Kellogg graduate receives a signing bonus of $24,000.
Here’s how I’d spend it:
THE BONUS
M.Y.O.B. UNIVERSITY COURSE 1FINANCIAL
UNDERSTANDING
MOVING EXPENSES
UTILITY DEPOSIT
APARTMENT DEPOSIT
FIRE YOUR DEBT
PAYING BILLS UNTIL
THE FIRST CHECK
SAVE $1,000EMERGENCY
FUND
WE'D LOVE TO HELP YOU
Devise a plan that helps you achieve your dreams for cars, marriage, a house, kids
vacations and other major life events and still
be rich
Develop a plan to eliminate your student loans, credit card and all debt in 3 years
Determine what things are important to you and help you achieve them
Prioritize your expenses to create a budget
Save for an emergency and identify what to
do in an emergency
www.myobuniversity.com facebook.com/myobuniversity