Knowing your

Financial Network
Presentation By: Daniel Betonio
and Ej Gonzales
 What is Financial Network?
• By knowing where you stand financially, you will be more
mindful of your spending, better prepared to make sound
financial decisions, and more likely to achieve your short-
term and long-term financial goal.
Why knowing your financial situation
is very important?
• Your level of financial health indicates your readiness to pay
for things now and later, expected or not. Factors like steady
income, low debt-to-income ratio, and consistent retirement
investments may indicate a strong financial health.
 Why your financial network is
important?
• Spend Wisely
• Pay down debt
• Save and Invest
 Establishing Your Financial Goals
Short-term
-Within 1 year
Intermediate-term
-1 to 10 years
Long-term
- More than 10 years
 Short-term Goals
(Within 1 year)

 Accumulate emergency funds equal to 3 months’ living expenses

 Pay off bills and credit cards
 Purchase insurance
 Purchase a major item
 Finance a vacation
 Intermediate-term Goals
(1 to 10 years)

 Save for older child’s college

 Save for home improvement
 Save for a down payment
 Pay off major debt
 Finance large items (weddings)
 Purchase a vacation home
 Long-term Goals
(More than 10 years)

Save for younger child’s college

Purchase retirement home
Create a retirement fund to maintain the current standard of
living
Take care of elderly family members
Start a business