• New Age of Banking – Technology
• Changes throughout the years
• Budgeting & Cash flow– Steps– Financial Wellness– Investing
• Borrowing for your Needs– Credit
• Cards• Line of Credit/Loans• Credit Bureau
– Debt Servicing Ratios
• Questions and Answers?
Agenda and discussion pointsAgenda and discussion points
• The Retail Store Experience• Technology in Banking• Accessing Money today vs. Past years• Finance Tracker to balance your budget
New Age of BankingNew Age of Banking
What does Cashflow mean?
Steps to Budgeting:
• Establishing a Budget
• Discretionary vs. Mandatory
• Setting Goals for short and long term
• Track and Measure the Budget
• Review and Adjust
“Its not how much you make, it’s how much you spend”
BUDGETING AND CASH FLOWBUDGETING AND CASH FLOW
Reaching Financial Wellness
Source: Ipsos Reid Canadian Financial Monitor
Investable assets of individuals who work with an Investable assets of individuals who work with an advisor are significantly greater than those who don’tadvisor are significantly greater than those who don’t
Investable assets of individuals who work with an Investable assets of individuals who work with an advisor are significantly greater than those who don’tadvisor are significantly greater than those who don’t
BORROWING FOR YOUR NEEDSBORROWING FOR YOUR NEEDS
•What is credit? •What are types of credit products
Credit Cards
•The Good and Bad:
•Ways to build & maintain credit– Treat like debit card: Don’t spend what you don’t have– Pay on Time every month– Ensure Minimum Payment, however strive to pay in full.
•Alternatives–Virtual Visa Debit
Line of Credit & LoansLoans
• Car Loans• Consolidation Loan
Line of Credit
• What is a line of Credit?
Government Student Loans
VS. RBC Student Line of Credit
Mortgages on a home
BORROWING FOR YOUR NEEDSBORROWING FOR YOUR NEEDS
Applying for Credit
- Debt Servicing Ratios
- Other Considerations for credit
applications
BORROWING FOR YOUR NEEDSBORROWING FOR YOUR NEEDS