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# Financial Intelligence Course Overview
# 财智课程概述

## Introduction
## 简介

- **Instructor**: Andrew Hingston
- **讲师**: Andrew Hingston

- **Unit Focus**: Financial intelligence and its application in personal finance.
- **单元重点**:金融智能及其在个人理财中的应用。

---

## Course Content
## 课程内容

- **Topics Covered**:
-**主题**:

- Definition of financial intelligence.
- 金融智能的定义。

- Overview of the financial planning industry in Australia.
- 澳大利亚财务规划行业概述。

- Assessment reminders.
- 评估提醒。

- Visual aids and concepts like the snowball effect.
- 视觉辅助工具和概念,如雪球效果。

- Budget preparation and expense tracking.
- 预算编制和费用跟踪。

- Setting up a bank account system for money management.
- 建立银行账户系统进行资金管理。

- Understanding debt: good debt vs. bad debt.
- 了解债务:好债务与坏账。

- Tips specifically for students.
- 专门针对学生的提示。

- **Financial Statements**:
- **财务报表**:

- Balance sheet.
-资产负债表。

- Income statement.
-损益表。

- Cash flow statement.
- 现金流量表。

- Concept of operating leverage (fixed vs. variable costs).
- 运营杠杆的概念(固定成本与可变成本)。

- **Disclaimer**:
-**免責聲明**:

- Content is general and not personal financial advice.
- 内容是一般性的,而不是个人财务建议。

- Importance of considering personal circumstances and seeking professional advice.
- 考虑个人情况和寻求专业建议的重要性。

---

## Understanding Intelligence
## 了解智能

- **Howard Gardner's Theory**:
- **霍华德·加德纳理论**:

- Intelligence is multifaceted; includes various types such as:
- 智能是多方面的;包括各种类型,例如:

- Bodily-kinesthetic (movement and sports).
- 身体动觉(运动和运动)。

- Interpersonal (people skills).
- 人际交往能力(人际交往能力)。

- Linguistic (language and logic).
- 语言学(语言和逻辑)。

- Naturalistic (understanding nature).
- 自然主义(理解自然)。

- Intrapersonal (self-awareness).
- 个人内在(自我意识)。

- Visual-spatial (visual understanding).
- 视觉空间(视觉理解)。

- Musical (musical talent).
- 音乐人(音乐天赋)。

- **Financial Intelligence**:
- **财智**:

- Defined as the *science and art of turning financial information into a meaningful story* for better decision-making.
- 定义为将财务信息转化为有意义的故事*以做出更好决策的 *科学和艺术。

- Involves:
-涉及:

- Understanding past, present, and future financial situations.
- 了解过去、现在和未来的财务状况。

- Ability to communicate financial information effectively.
- 能够有效地传达财务信息。

- Adapting concepts to individual goals.
- 根据个人目标调整概念。

---

## Key Components of Financial Intelligence
## 金融智能的关键组成部分

- **Understanding Current Situation**:
- **了解现状**:

- Awareness of monthly income, expenses, and savings (profit).
- 了解每月收入、支出和储蓄(利润)。

- Knowledge of assets and liabilities to determine wealth position.
- 了解资产和负债以确定财富状况。

- Understanding cash flow dynamics.
- 了解现金流动态。

- **Setting Future Goals**:
- **设定未来目标**:

- Goals related to:
- 目标相关:

- Education and career.
- 教育和职业。

- Lifestyle and leisure.
- 生活方式和休闲。

- Relationships and family stability.
- 人际关系和家庭稳定性。

- Financial freedom from money worries.
- 财务自由,无需金钱担忧。

- Ensuring goals align with personal values and life stages.
- 确保目标与个人价值观和人生阶段保持一致。

- **Identifying Gaps**:
- **识别差距**:

- Recognizing discrepancies between current resources and future goals.
- 识别当前资源与未来目标之间的差异。

- Developing strategies to bridge these gaps.
- 制定弥合这些差距的策略。

---

## Conclusion
## 结论

- **Practical Applications**:
- **实际应用**:

- Emphasis on applying concepts to future situations rather than immediate circumstances.
- 强调将概念应用于未来情况而不是眼前的情况。

- Encouragement to consider how to implement learned material in various life stages (20s, 30s, 40s, etc.).
- 鼓励考虑如何在不同的人生阶段(20 多岁、30 多岁、40 多岁等)应用所学的材料。

---

# Summary of Financial Intelligence and Planning
# 财智与规划总结

---

## Understanding Financial Intelligence
## 了解金融智能

- **Financial intelligence** is the ability to turn financial information into meaningful stories for better decision-making.
- **财务智能** 是将财务信息转化为有意义的故事以做出更好决策的能力。

- Key components include:
- 关键组件包括:

- Understanding your current financial situation.
- 了解您当前的财务状况。

- Setting future goals aligned with your life values.
- 设定与您的人生价值观相一致的未来目标。

- Identifying gaps between your current situation and future goals.
- 确定您当前情况与未来目标之间的差距。

- Developing strategies to close those gaps.
- 制定缩小这些差距的策略。

- Managing risks associated with those strategies.
- 管理与这些策略相关的风险。

- Implementing strategies and communicating effectively with others.
- 实施策略并与他人进行有效沟通。

---

## Importance of Communication
## 沟通的重要性

- Effective communication about finances is crucial, especially in committed relationships.
- 关于财务的有效沟通至关重要,尤其是在承诺的关系中。

- Challenges may arise if financial discussions were not common in one's upbringing.
- 如果财务讨论在一个人的成长过程中不常见,则可能会出现挑战。

---

## Role of Financial Planners
## 财务策划顾问的角色

- **Financial planners** provide advice on managing money to achieve specific financial goals.
- **财务规划师** 提供有关管理资金以实现特定财务目标的建议。

- Areas of focus include:
- 重点领域包括:

- Savings and investment plans.
- 储蓄和投资计划。

- Retirement planning and superannuation.
- 退休规划和养老金。

- Tax planning and insurance coverage.
- 税务规划和保险范围。

- Overall risk management.
- 整体风险管理。

- Particularly beneficial for individuals aged **40 to 70** as they work towards financial independence.
- 对 **40 至 70** 岁的人特别有益,因为他们正在努力实现财务独立。

---

## Financial Planning in Australia
## 澳大利亚的财务规划

- Australia faces an aging population, leading to fewer people relying on government pensions.
- 澳大利亚面临人口老龄化,导致依赖政府养老金的人数减少。

- Individuals must take responsibility for their financial independence through savings and investments.
- 个人必须通过储蓄和投资来承担自己的财务独立责任。

- The **superannuation** system is a key component of retirement savings in Australia.
- **养老金**系统是澳大利亚退休储蓄的关键组成部分。

---

## Educational Requirements for Financial Advisors
## 财务顾问的教育要求

- Financial advisors must complete:
- 财务顾问必须完成:

- An approved degree program (e.g., Bachelor of Commerce).
- 经批准的学位课程(例如,商业学士学位)。

- A professional year (apprenticeship) under a qualified planner.
- 在合格规划师的指导下进行专业年(学徒)。

- A specific financial advisor exam.
- 特定的财务顾问考试。

- Continuing professional development annually.
- 每年进行持续的专业发展。

- Advisors must be licensed and adhere to relevant legislation.
- 顾问必须获得许可并遵守相关法律。

---

## Ethical Standards and Practices
## 道德标准和实践

- Financial advisors in Australia have a **best interest duty** to their clients.
- 澳大利亚的财务顾问对其客户负有**最佳利益义务**。

- They cannot accept commissions on recommended products and must charge a fee for service.
- 他们不能接受推荐产品的佣金,必须收取服务费。

- Advisors are expected to follow an industry Code of Ethics and report to regulatory authorities.
- 顾问应遵守行业道德准则并向监管机构报告。

---

## The Financial Planning Process
## 财务规划过程

- The process involves several steps:
- 该过程包括几个步骤:

- Gathering client information over multiple meetings.
- 通过多次会议收集客户信息。

- Establishing financial goals and objectives.
- 建立财务目标。

- Analyzing data to identify financial issues.
- 分析数据以识别财务问题。

- Preparing a comprehensive **Statement of Advice** (financial plan).
- 准备一份全面的 **建议声明**(财务计划)。

- Assisting with implementation and ongoing reviews.
- 协助实施和持续审查。

---

# Summary of Financial Planning Course
# 财务规划课程总结

---

## Course Objectives
## 课程目标

- Equip students to become their own financial planners until age 40.
- 让学生成为自己的财务规划师,直到 40 岁。

- Prepare students to find suitable financial planners as co-pilots for long-term financial independence.
- 让学生准备好找到合适的财务规划师作为长期财务独立的副驾驶。

- Identify when to seek advice from dedicated professionals (e.g., tax advice, will drafting).
- 确定何时向专门的专业人士寻求建议(例如,税务建议、遗嘱起草)。

- Encourage students to consider a career in financial planning.
- 鼓励学生考虑从事财务规划方面的职业。

---

## Importance of Financial Planning
## 财务规划的重要性

- Financial planning is crucial for individuals and for Australia's economic growth.
- 财务规划对个人和澳大利亚的经济增长至关重要。

- Financial planners help clients achieve their financial goals and must adhere to strict educational and licensing requirements.
- 财务规划师帮助客户实现他们的财务目标,并且必须遵守严格的教育和许可要求。

---

## Course Assignments
## 课程作业

- **Major Assignment**: Develop a personal financial plan, potentially better than one from a professional due to personal knowledge of individual circumstances.
- **主要任务**:由于个人对个人情况的了解,制定个人财务计划可能比专业人士的计划更好。

- **Learning Community Assignment**:
- **学习社区作业**:

- Each student summarizes a personal finance article and posts it on the course website.
- 每个学生总结一篇个人理财文章并将其发布在课程网站上。

- This creates a knowledge bank accessible to students throughout their university tenure.
- 这创建了一个知识库,学生在整个大学任期内都可以访问。

- **Advisor Engagement Assignment**:
- **顾问参与任务**:

- Analyze video role plays of financial advisers providing both good and bad advice.
- 分析财务顾问提供好建议和坏建议的视频角色扮演。

- Answer essay questions to help students identify quality financial advice.
- 回答论文问题,帮助学生找到优质的财务建议。

---

## Course Structure and Resources
## 课程结构和资源

- Weekly online quizzes to maintain discipline and progress.
- 每周在线测验以保持纪律和进步。

- The lowest two quiz scores are excluded from final assessments.
- 最低的两个测验分数将排除在最终评估之外。

- Detailed instructions for assessments are available on the course website.
- 课程网站上提供了评估的详细说明。

---

## Financial Literacy Development
## 金融知识发展

- Encourage regular reading of personal finance resources (books, articles, podcasts, etc.).
- 鼓励定期阅读个人理财资源(书籍、文章、播客等)。

- Students can summarize various types of articles, including chapters from books or research papers.
- 学生可以总结各种类型的文章,包括书籍或研究论文中的章节。

---

## Key Financial Concepts
## 关键财务概念

- Understanding the formula for an income statement:
- 了解损益表的公式:

- `Income - Expenses = Profit`
- “收入 - 费用 = 利润”

- Importance of recognizing personal financial situations and goals.
- 认识个人财务状况和目标的重要性。

---

> *"There’s no one who knows your own situation and goals better than you do."*
> *“没有人比你更了解你自己的处境和目标。”*

---

# Summary of Financial Intelligence Concepts
# 财智概念总结

---

## Understanding Household Profit
## 了解家庭利润

- **Household Profit**: Defined as the difference between income and expenses for a month.
- **家庭利润**:定义为一个月的收入和支出之间的差额。

- **Key Formula**:
- **关键公式**:

- `Income - Expenses = Profit`
- “收入 - 费用 = 利润”

- **Financial Intelligence**:
- **财智**:

- Financially intelligent individuals rearrange the formula:
- 财务聪明的人重新排列公式:

- `Income - Profit = Expenses`
- “收入 - 利润 = 费用”

- This implies that expenses depend on income and savings goals.
- 这意味着支出取决于收入和储蓄目标。

---

## The Concept of the Pie
## 馅饼的概念

- **Total Income**: Represented as a pie, which includes:
- **总收入**:以饼图表示,其中包括:

- Personal income (salary or wages)
- 个人收入(薪水或工资)

- Investment income (interest, rent, dividends, capital gains)
- 投资收入(利息、租金、股息、资本收益)

- Other income (family support, social security, scholarships)
- 其他收入(家庭抚养费、社会保障费、奖学金)

- **Three Parts of the Pie**:
- **馅饼的三个部分**:

- **Generosity**:
-**慷慨**:

- Support family, friends, and community.
- 支持家人、朋友和社区。

- Pay taxes that fund public services (healthcare, education, infrastructure).
- 缴纳为公共服务(医疗保健、教育、基础设施)提供资金的税款。

- **Planning for the Future**:
- **规划未来**:

- Save for emergencies and future expenses (holidays, vehicles).
- 为紧急情况和未来费用(假期、车辆)储蓄。

- Invest for long-term goals (home, shares, retirement).
- 为长期目标(房屋、股票、退休)投资。

- Manage debt and protect assets through insurance and estate planning.
- 通过保险和遗产规划管理债务和保护资产。

- **Living Expenses**:
-**生活费**:

- Use the remaining income for current living expenses.
- 将剩余收入用于当前的生活费用。

- Practice contentment and track expenses.
- 练习满足并跟踪费用。

---

## Expanding Your Pie
## 扩大你的馅饼

- **Income Growth**:
- **收入增长**:

- Plan to increase personal and investment income over time.
- 计划随着时间的推移增加个人和投资收入。

- **Investment Strategy**:
- **投资策略**:

- Build savings and investments that generate income for living expenses.
- 建立储蓄和投资,为生活开支创造收入。

---

## Wealth Disparities
## 贫富差距

- **Factors Influencing Wealth**:
- **影响财富的因素**:

- A mix of skill, effort, and chance.
- 技巧、努力和机会的结合。

- Circumstances of birth (family and country) significantly impact financial outcomes.
- 出生情况(家庭和国家/地区)会显著影响财务结果。

- **Skill and Effort**:
- **技巧和努力**:

- Individuals may achieve wealth through career skills, investing skills, and disciplined effort.
- 个人可以通过职业技能、投资技能和有纪律的努力获得财富。

---

# Summary of Wealth Building Principles
# 财富构建原则总结

---

## Introduction to Wealth Inequality
## 财富不平等简介

- Life can present unexpected challenges, affecting health and finances.
- 生活可能会带来意想不到的挑战,影响健康和财务。

- Wealth distribution is influenced by a combination of:
- 财富分配受以下因素共同影响:

- Skill
-技能

- Effort
-努力

- Chance
-机会

---

## Key Principles of Wealth Accumulation
## 财富积累的关键原则

### Income and Expenses
### 收入和支出

- **Wealth** is determined by the formula: *Income - Expenses = Profit*.
- **财富** 由以下公式决定: *收入 - 费用 = 利润*。

- Example of two individuals with the same starting wealth and income:
- 具有相同起始财富和收入的两个人的示例:

- **Person One**:
- **第一人**:

- Income: `$100/day`
- 收入:“100 美元/天”

- Expenses: `$99/day`
- 费用:“99 美元/天”

- Profit: `$1/day`
- 利润:“1 美元/天”

- Wealth after 100 days: `$100`
- 100 天后的财富:'$100'

- **Person Two**:
- **二号人物**:

- Income: `$100/day`
- 收入:“100 美元/天”

- Expenses: `$90/day`
- 费用:“90 美元/天”

- Profit: `$10/day`
- 利润:“10 美元/天”

- Wealth after 100 days: `$1,000`
- 100 天后的财富:'1,000 美元'

- **Conclusion**: Controlling expenses is crucial for wealth accumulation.
- **结论**: 控制开支对于财富积累至关重要。

---

## Strategies for Controlling Expenses
## 控制费用的策略

- **Three Methods**:
- **三种方法**:

- **Cut Costs**: Reduce expenses while maintaining current activities.
- **削减成本**:在维持当前活动的同时减少开支。

- **Cut Back**: Decrease the frequency of certain expenditures (e.g., dining out).
- **削减**:减少某些支出的频率(例如外出就餐)。

- **Cut Out**: Eliminate unnecessary expenses entirely.
- **Cut Out**:完全消除不必要的开支。

---

## Investment and Wealth Growth
## 投资和财富增长

### Example of Investment Returns
### 投资回报示例

- **Person One**:
- **第一人**:

- Income: `$100,000/year`
- 收入:“100,000 美元/年”

- Expenses: `$99,000/year`
- 费用:“99,000 美元/年”

- Savings: `$1,000/year`
- 储蓄:“1,000 美元/年”

- Investment return: `8.5%`
- 投资回报率:'8.5%'

- Wealth after 40 years: Approximately `$295,000`.
- 40 年后的财富:约 295,000 美元。

- **Person Two**:
- **二号人物**:

- Same income and expenses as Person One.
- 与第一人相同的收入和支出。

- Savings: `$10,000/year`
- 储蓄:“10,000 美元/年”

- Wealth after 40 years: Approximately `$2.9 million`.
- 40 年后的财富:约 290 万美元。

- **Key Insight**: Higher savings lead to significantly greater wealth due to compound interest.
- **关键见解**:由于复利,更高的储蓄会带来显着更大的财富。

---

## The Snowball Effect
## 雪球效应

- **Snowball** represents investment assets that generate cash flow.
- **Snowball** 代表产生现金流的投资资产。

- **Concept**: *Getting rich slowly* through regular savings and appropriate investments.
- **概念**: 通过定期储蓄和适当的投资*慢慢致富。

- Controlling expenses allows for savings, which can be invested to grow wealth over time.
- 控制开支可以节省开支,这些储蓄可以投资于随着时间的推移增加财富。

---

## Techniques for Expense Management
## 费用管理技术

- **Budgeting**: Useful for planning future cash flows, especially during significant life changes.
- **预算**:有助于规划未来的现金流,尤其是在生活发生重大变化时。

- **Tracking Expenses**: Focuses on current and past spending to identify areas for control.
- **跟踪费用**:关注当前和过去的支出,以确定需要控制的领域。

- **Setting Up a System of Accounts**: Promotes long-term savings and investment management.
- **建立账户系统**:促进长期储蓄和投资管理。

---

## Recap
## 回顾

- Wealth accumulation is influenced by income, expenses, and investment strategies.
- 财富积累受收入、支出和投资策略的影响。

- Controlling expenses is essential for building wealth over time.
- 控制开支对于随着时间的推移积累财富至关重要。

- Different techniques can be applied based on individual circumstances to manage finances effectively.
- 可以根据个人情况应用不同的技术来有效地管理财务。

# Summary of Wealth Management Concepts
# 财富管理概念总结

---

## Reasons for Wealth Disparity
## 贫富差距的原因

- **Skill and effort** in controlling expenses are crucial.
- 控制费用的 **技能和努力** 至关重要。

- **Compounding returns** significantly impact long-term wealth.
- **复利回报** 显著影响长期财富。

- **Regular saving and investing** contribute to asset growth.
- **定期储蓄和投资** 有助于资产增长。

- **Avoid get-rich-quick scams**; focus on gradual wealth accumulation.
- **避免快速致富骗局**;专注于逐步积累财富。

---

## Importance of Budgeting
## 预算的重要性

- A budget estimates:
- A 预算估计:

- **Income**: Cash inflow.
- **收入**:现金流入。

- **Expenditure**: Cash outflow.
- **支出**:现金流出。

- Determines if there is a **surplus** or **deficit**.
- 确定是否存在 **盈余** 或 **赤字**。

### Cash Flow Budget
### 现金流预算

- Focuses on future cash flow.
- 关注未来现金流。

- Measures:
-措施:

- Regular cash inflows (income).
- 定期现金流入(收入)。

- Regular cash outflows (living expenses, purchases, loan payments).
- 定期现金流出(生活费、购物、贷款支付)。

- Typically prepared on a **monthly** basis, with annual projections.
- 通常 **每月** 准备一次,并附有年度预测。

### Benefits of Budgeting
### 预算的好处

- Identifies areas for improvement.
- 确定需要改进的领域。

- Helps plan for future expenses.
- 帮助规划未来的开支。

- Compares budgeted vs. actual figures.
- 将预算数据与实际数据进行比较。

- Promotes accountability and discipline.
- 促进问责制和纪律。

- Enhances financial intelligence and understanding of spending.
- 提高财务智能和对支出的理解。

---

## Situations Requiring Budgeting
## 需要预算的情况

- Changes in personal circumstances:
- 个人情况的变化:

- Moving out.
- 搬出去。

- Relocating for work or study.
- 因工作或学习而搬迁。

- Major life events (marriage, childbirth).
- 重大生活事件(结婚、分娩)。

- Approaching retirement.
- 临近退休。

### Alternative Approaches
### 替代方法

- For those struggling with budgeting:
- 对于那些在预算方面苦苦挣扎的人:

- Focus on **tracking expenses**.
- 专注于 **跟踪费用**。

- Set up a **system of bank accounts** for better control.
- 设置一个 **银行账户系统** 以更好地控制。

---

## Estimating Expenses
## 估算费用

- Budgeting involves making estimates based on:
- 预算涉及根据以下因素进行估算:

- Historical spending data.
- 历史支出数据。

- Adjustments for future changes.
- 针对未来更改的调整。

- Consider adding a **buffer** for unexpected expenses.
- 考虑为意外费用添加 **缓冲区**。

### Improving Financial Situation
### 改善财务状况

- Increase income by:
- 通过以下方式增加收入:

- Working longer hours.
- 工作时间更长。

- Seeking promotions or raises.
- 寻求晋升或加薪。

- Finding better investment opportunities.
- 寻找更好的投资机会。

- Reduce expenses by:
- 通过以下方式减少开支:

- Cutting unnecessary subscriptions.
- 减少不必要的订阅。

- Using public transport.
- 使用公共交通工具。

- Cooking at home instead of dining out.
- 在家做饭而不是外出就餐。

### Risk Management
### 风险管理

- Identify ways to reduce income and expense volatility.
- 确定减少收入和支出波动的方法。

- Find an accountability partner for support.
- 寻找问责伙伴寻求支持。

---

## Tracking and Adjusting Budgets
## 跟踪和调整预算

- Track actual income and expenses to assess budget accuracy.
- 跟踪实际收入和支出以评估预算准确性。

- Learn from discrepancies to improve future budgeting.
- 从差异中学习以改进未来的预算。

### Key Strategies for Reducing Expenses
### 减少开支的关键策略

- **Cut costs**: Find cheaper alternatives.
- **降低成本**:寻找更便宜的替代品。

- **Cut back**: Reduce frequency of certain expenses.
- **削减**:减少某些费用的频率。

- **Cut out**: Eliminate unnecessary expenses completely.
- **Cut out**:彻底消除不必要的开支。

> Remember to avoid rewarding yourself with large purchases after cutting expenses.
> 请记住,避免在削减开支后用大笔购买来奖励自己。

---

# Summary of Budgeting and Expense Tracking
# 预算和费用跟踪总结

---

## Tips for Budgeting
## 预算提示

- Track expenses for a few months before creating a budget.
- 在创建预算之前跟踪几个月的费用。

- Involve significant others in the budgeting process.
- 让重要的其他人参与预算过程。

- Set realistic goals to avoid discouragement.
- 设定切合实际的目标以避免气馁。

- Include a buffer of about **10%** for unexpected expenses.
- 包括大约 **10%** 的缓冲,以用于意外支出。

- Allow for fun and leisure in the budget.
- 在预算中考虑娱乐和休闲。

- Include allowances for gifts and special occasions.
- 包括礼品和特殊场合的津贴。

- Aim to save at least **20%** of income as a basic profit margin.
- 目标是将至少 **20%** 的收入作为基本利润率。

- Utilize software or apps for budgeting and expense tracking.
- 利用软件或应用程序进行预算和费用跟踪。

---

## Understanding Cash Flow Budgets
## 了解现金流预算

- A cash flow budget estimates future cash inflows and outflows, typically on a monthly or annual basis.
- 现金流预算估计未来的现金流入和流出,通常按月或按年计算。

- It requires a commitment to follow and improve the budget.
- 它需要承诺遵循和改进预算。

- Most useful during life changes or when spending is out of control.
- 在生活变化或支出失控时最有用。

- Preparing a budget enhances financial intelligence.
- 编制预算可以提高财务智能。

- Use middle-of-the-road expected values for better accuracy.
- 使用中间预期值以提高准确性。

> "The problem with budgets is that many people know they should do them but don't."
> “预算的问题在于,许多人知道他们应该做,但没有。”

---

## Common Budgeting Challenges
## 常见的预算挑战

- Many people fail to track actual expenses against their budget.
- 许多人未能根据他们的预算跟踪实际费用。

- Budgets can be too strict, leading to breakdowns in adherence.
- 预算可能过于严格,导致遵守情况崩溃。

- Tracking income and expenses can be transformative for spending behavior.
- 跟踪收入和支出可能会改变消费行为。

---

## Methods for Tracking Expenses
## 跟踪费用的方法

- **Manual Tracking**:
- **手动跟踪**:

- Request receipts and record income/expenses in a diary, ledger, or app.
- 请求收据并在日记、分类账或应用程序中记录收入/支出。

- **Debit Card Tracking**:
- **借记卡跟踪**:

- Use a debit card for purchases and download transactions from online banking.
- 使用借记卡购物并从网上银行下载交易。

- **Automated Tracking**:
- **自动跟踪**:

- Utilize bank-provided tools or apps like `Frol` to automatically categorize spending.
- 利用银行提供的工具或应用程序(如“Frol”)自动对支出进行分类。

> "Tracking income and expenses actually gets quite fun after a while."
> “一段时间后,跟踪收入和支出实际上会变得非常有趣。”

---

## Importance of Tracking Expenses
## 跟踪费用的重要性

- Helps determine where money is going.
- 帮助确定资金的去向。

- Most people struggle to maintain tracking habits.
- 大多数人都在努力保持跟踪习惯。

- Does not organize savings for specific goals (e.g., holidays, homes).
- 不为特定目标(例如假期、家庭)组织储蓄。

---

## Bank Account Basics
## 银行账户基础知识

- **Core Bank Account**:
- **核心银行账户**:

- A transaction account for buying, paying bills, and receiving income.
- 用于购买、支付账单和接收收入的交易账户。

- Typically linked to a debit card for electronic transactions.
- 通常与借记卡相关联以进行电子交易。

- **Savings Account**:
-**储蓄账户**:

- Used for storing funds needed within the next 12 months.
- 用于存储未来 12 个月内所需的资金。

- Often linked to a transaction account for easy transfers.
- 通常与交易账户相关联,以便于转账。

> "If you hold up to $250,000 worth of deposits with a bank, they are guaranteed by the government."
> “如果你在银行持有价值高达 250,000 美元的存款,它们由政府担保。”

---

## Conclusion
## 结论

- Establishing a sustainable system of bank accounts is essential for saving and investing.
- 建立可持续的银行账户系统对于储蓄和投资至关重要。

- Tracking expenses can become a habit and provide valuable insights into financial behavior.
- 跟踪费用可以成为一种习惯,并提供对财务行为的宝贵见解。

# Summary of Financial Management Concepts
# 财务管理概念总结

## Electronic Payment Systems
## 电子支付系统

- **Types of Card Transactions**:
- **卡交易类型**:

- Inserting a card:
- 插入卡:

- Uses `EFTPOS` system.
- 使用“EFTPOS”系统。

- Fees typically between 0% and 0.5%.
- 费用通常在 0% 到 0.5% 之间。

- Tapping a card:
- 点击卡片:

- Uses `Visa` or `Mastercard` payment system.
- 使用“Visa”或“Mastercard”支付系统。

- Fees range from 0.5% to 1%.
- 费用从 0.5% 到 1% 不等。

- Automatic for transactions below $100; PIN required for higher amounts.
- 100 美元以下的交易自动;金额较高时需要 PIN。

- **Cash vs. Electronic Payments**:
- **现金与电子支付**:

- Paying with cash can create a sense of loss, making purchases feel more expensive.
- 用现金支付会产生一种失落感,使购物感觉更昂贵。

- Cash transactions can complicate expense tracking, but receipts can help.
- 现金交易可能会使费用跟踪复杂化,但收据可以提供帮助。

---

## Managing Transaction Accounts
## 管理交易账户

- **Maintaining a Healthy Balance**:
- **保持健康的平衡**:

- Keep enough funds in the transaction account to avoid going near zero.
- 在交易账户中保留足够的资金,以避免接近零。

- Funds should fluctuate with income and expenses.
- 资金应随收入和支出而波动。

- Aim for a cash buffer of at least **$1,000 to $2,000**; more if expenses are higher.
- 以至少 **1,000 至 2,000 美元**的现金缓冲为目标;如果费用更高,则更多。

- **Emergency Fund**:
- **应急基金**:

- Recommended minimum of **$2,000**; ideally up to **6 months** of living expenses.
- 建议最低 **$2,000**;理想情况下长达 **6 个月**的生活费。

- Provides peace of mind during emergencies (e.g., job loss, health issues).
- 在紧急情况下(例如失业、健康问题)让您高枕无忧。

---

## Savings and Budgeting Systems
## 储蓄和预算系统

- **Three Account System**:
- **三户制**:

- **Regular Payments Account**:
- **常规付款账户**:

- Receives salary and pays regular bills.
- 领取薪水并支付定期账单。

- **Weekly Spending Account**:
- **每周消费账户**:

- Fixed amount for daily living expenses.
- 固定的生活费。

- **Savings Account**:
-**储蓄账户**:

- For medium and long-term savings goals.
- 用于中长期储蓄目标。

- **The Barefoot Investor System**:
- **赤脚投资者系统**:

- **Daily Expenses Account**:
- **日常开支账户**:

- Receives income for regular expenses.
- 获得定期开支的收入。

- **Fire Extinguisher Account (20%)**:
- **灭火器账户 (20%)**:

- For debt repayment and non-regular bills.
- 用于偿还债务和非定期账单。

- **Splurge Account (10%)**:
- **挥霍账户 (10%)**:

- For discretionary spending.
- 用于可自由支配的支出。

- **Smile Account (10%)**:
- **微笑账户 (10%)**:

- For long-term savings (e.g., holidays, major purchases).
- 用于长期储蓄(例如,假期、大宗消费)。

---

> *These financial management strategies aim to enhance budgeting, savings, and overall financial stability.*
> *这些财务管理策略旨在加强预算、储蓄和整体财务稳定性。

# Summary of Financial Management Concepts
# 财务管理概念总结

## Emergency Funds and Investment Accounts
## 应急资金和投资账户

- The **fire extinguisher account** is designed to build up over time.
- **灭火器账户** 旨在随着时间的推移而积累。

- Funds are swept into:
- 资金被扫入:

- **Account Five** (Mojo Emergency Funds Account)
- **账户五** (Mojo 紧急资金账户)

- Minimum of **$2,000**.
- 最低 **$2,000**。

- Ideally, **6 months** of living expenses.
- 理想情况下,**6 个月**的生活费。

- Once the emergency fund is established, excess funds overflow into:
- 应急基金建立后,超额资金将流入:

- **Grow Account** for long-term investments (e.g., shares).
- **Grow Account** 用于长期投资(例如股票)。

- The **Barefoot Investor system** visualizes income management:
- **Barefoot Investor 系统** 将收入管理可视化:

- **Income flows** into Account One.
- **收入流入** 账户 1。

- Distribution of income:
- 收入分配:

- **20%** to Fire Extinguisher.
- **20%** 到灭火器。

- **10%** to Splurge (short-term enjoyment).
- **10%** 到 Splurge (短期享受)。

- **10%** to Smile (long-term enjoyable purchases).
- **10%** 给 Smile(长期愉快的购买)。

- **Benefits of Scott's approach**:
- **Scott 方法的好处**:

- Specific percentages for budgeting.
- 预算编制的特定百分比。

- Organized financial accounts.
- 有组织的财务账户。

- **Online banks** facilitate this system:
- **网上银行** 促进此系统:

- High bonus interest rates with transaction criteria.
- 符合交易标准的高奖金利率。

- Multiple savings accounts with no additional fees.
- 多个储蓄账户,无需额外费用。

- Customizable account names for tracking savings goals.
- 用于跟踪储蓄目标的可自定义账户名称。

- **Government guarantee** in Australia:
- **澳大利亚政府担保**:

- Up to **$250,000** of deposits covered per bank.
- 每家银行最高可支付 **250,000** 美元的存款。

---

## Types of Accounts and Cash Management
## 账户类型和现金管理

- **Transaction Accounts**:
- **交易账户**:

- Used for purchases and bill payments.
- 用于购买和账单支付。

- Typically **0% interest**.
- 通常为 **0% 利息**。

- **Savings Accounts**:
- **储蓄账户**:

- Earn interest but limit transactions.
- 赚取利息但限制交易。

- **Cash Management Tips**:
- **现金管理小贴士**:

- Use physical currency to feel the expense.
- 使用实物货币来感受费用。

- Maintain an adequate cash buffer for bills.
- 为账单保持足够的现金缓冲。

- Aim for **6 months** of living expenses in an emergency fund.
- 以应急基金中 **6 个月**的生活费为目标。

---

## Understanding Debt
## 了解债务

- **Debt Definition**:
- **债务定义**:

- A loan from a bank or other source, including:
- 来自银行或其他来源的贷款,包括:

- Credit cards.
-信用卡。

- Buy now, pay later schemes (e.g., Afterpay).
- 先买后付方案(例如 Afterpay)。

- Student loans (e.g., HECS).
- 学生贷款(例如 HECS)。

- Car loans, home loans, and investment loans.
- 汽车贷款、住房贷款和投资贷款。

- **Good Debt vs. Bad Debt**:
- **好账与坏账**:

- **Good Debt**:
- **Good Debt**:

- Buying a quality home for long-term control over living expenses.
- 购买优质房屋以长期控制生活费用。

- Investing in shares or properties with a return exceeding the interest rate.
- 投资于回报高于利率的股票或财产。

- Student loans that fund education for future income.
- 为未来收入的教育提供资金的学生贷款。

- **Bad Debt**:
- **坏账**:

- Generally, borrowing for depreciating assets (e.g., cars).
- 一般来说,借款用于贬值资产(例如汽车)。

---

## Illustrative Example of Debt
## 债务的说明示例

- **Ursa vs. Liam**:
- **Ursa vs. 利亚姆**:

- Both have **$110,000** to invest.
- 两者都有 **110,000** 美元**的投资。

- **Ursa**:
- **熊座**:

- Invests **$10,000** at **10%** return.
- 投资 **10,000 美元**,回报率为 **10%**。

- After one year: **$1,000 profit** (10% return).
- 一年后:**1,000 美元利润**(10% 回报)。

- **Liam**:
-**利亚姆**:

- Takes an investment loan of **$90,000**.
- 获得 **$90,000** 的投资贷款。

- Invests **$100,000** at **10%** return.
- 投资 **100,000 美元**,回报率为 **10%**。

- After one year: Pays **$5,000** interest, profits **$5,000** (50% return).
- 一年后:支付 **$5,000** 的利息,利润 **$5,000**(50% 的回报)。

- **Key Takeaway**:
- **关键要点**:

- Borrowing to invest can magnify returns but also increases risk.
- 借款投资可以放大回报,但也会增加风险。

---

# Summary of Debt Management and Financial Tips
# 债务管理和财务提示摘要

---

## Key Principles of Debt
## 债务的关键原则

- **Long-term investment** is crucial; avoid borrowing for short-term gains.
- **长期投资** 至关重要;避免借款获取短期收益。

- **Borrowing Guidelines**:
- **借阅指南**:

- Only borrow money for assets expected to **increase in value**.
- 只为预期 **增值** 的资产借款。

- Avoid borrowing for items that **decrease in value**, like cars.
- 避免借款购买 **贬值** 的物品,例如汽车。

---

## Borrowing from Parents
## 向父母借款

- Commonly referred to as borrowing from the **"bank of Mum and Dad"**.
- 通常被称为从 **“bank of Mum and Dad” **借款。

- Can assist in purchasing a first home, especially with:
- 可以协助购买第一套房子,尤其是:

- **Low or zero interest rates**.
- **低利率或零利率**。

- Be cautious of potential **strings attached** that may affect relationships.
- 小心可能影响人际关系的潜在 **附加条件** 。

---

## When Debt Becomes Problematic
## 当债务成为问题时

- **Debt is bad** when:
- **债务不良**在以下情况下:

- Used for expenses or bills.
- 用于费用或账单。

- Used to buy depreciating assets.
- 用于购买贬值资产。

- Incurred through credit cards without the ability to pay off balances.
- 通过无法还清余额的信用卡产生。

- **Consequences of Poor Debt Management**:
- **债务管理不善的后果**:

- High interest and fees from unpaid balances.
- 未付余额的高利息和费用。

- Development of a **debt cycle** leading to financial slavery.
- 发展 **债务循环** 导致金融奴役。

---

## Identifying Debt Problems
## 识别债务问题

- Signs of a debt problem include:
- 债务问题的迹象包括:

- Inability to pay off full balances for two consecutive months.
- 无法连续两个月还清全部余额。

- Juggling payments between multiple cards.
- 处理多张卡之间的付款。

- Concerns from friends and family about your debt situation.
- 朋友和家人对您的债务状况的担忧。

- Using credit cards to compensate for insufficient funds.
- 使用信用卡补偿资金不足。

- **First Step**: Acknowledge the problem and seek help.
- **第一步**:承认问题并寻求帮助。

---

## Seeking Help
## 寻求帮助

- **Free National Debt Helpline** available for assistance.
- **免费国债帮助热线** 可提供帮助。

- Suggested actions:
- 建议的操作:

- Talk to your bank about consolidating debt into a **personal loan**.
- 与您的银行讨论将债务合并为 **个人贷款**。

- Stop using credit cards for new transactions.
- 停止使用信用卡进行新交易。

---

## Financial Management Tips for Students
## 学生财务管理小贴士

- **Avoid campus food** to save money; consider:
- **避免校园食物** 以节省金钱;考虑:

- Preparing meals at home.
- 在家准备饭菜。

- Bringing leftovers for lunch.
- 午餐时带剩菜吃。

- **Cooking Skills**:
- **烹饪技巧**:

- Improve cooking skills for better meals and stress relief.
- 提高烹饪技巧,获得更好的膳食和缓解压力。

- Share cooking responsibilities with roommates or neighbors to save costs.
- 与室友或邻居分担烹饪责任以节省成本。

---

## Conclusion
## 结论

- **Debt can be good or bad**:
- **债务可以是好的,也可以是坏的**:

- Good when used for investments or quality homes.
- 用于投资或优质住宅时很好。

- Bad when used for expenses or depreciating items.
- 用于费用或折旧项目时不合格。

- If facing debt issues, reach out to the **National Debt Helpline** for support.
- 如果面临债务问题,请联系 **国家债务帮助热线** 寻求支持。

# Summary of Financial Tips for University Students
# 给大学生的理财小贴士总结

---

## Meal Preparation
## 膳食准备

- Cook meals on weekends, ideally on Saturdays.
- 周末做饭,最好在周六做饭。

- Prepare enough for four people and freeze three portions.
- 准备足够四个人食用的蔬菜,然后冷冻三份。

- **Avoid** eating the same meal two nights in a row to prevent monotony.
- **避免** 连续两个晚上吃同一顿饭,以防止单调。

---

## Coffee and Sleep
## 咖啡与睡眠

- Limit coffee intake to one cup per day, preferably in the morning.
- 将咖啡摄入量限制在每天一杯,最好在早上。

- Focus on **Sleep Quality**:
- 关注 **睡眠质量**:

- Aim for 8 hours of sleep.
- 以 8 小时的睡眠为目标。

- Avoid screens before bedtime.
- 睡前避免使用屏幕。

- Drink plenty of water to combat daytime tiredness.
- 多喝水以对抗白天的疲劳。

---

## Expense Tracking
## 费用跟踪

- Track expenses regularly using a spreadsheet or an app.
- 使用电子表格或应用程序定期跟踪费用。

- Review spending at the end of each month to identify areas for cost-cutting.
- 在每个月底审查支出,以确定需要削减成本的领域。

- Socializing can be expensive; consider organizing budget-friendly activities.
- 社交可能很昂贵;考虑组织预算友好的活动。

---

## Social Activities
## 社交活动

- Become a leader in arranging social outings to save money.
- 成为安排社交郊游以省钱的领导者。

- Suggest low-cost activities:
- 建议低成本活动:

- Picnics at the beach.
- 在海滩野餐。

- Walks or jogs in parks.
- 在公园散步或慢跑。

- Visits to museums or art galleries.
- 参观博物馆或艺术画廊。

- Attending live music events with limited spending.
- 参加消费有限的现场音乐活动。

---

## Living Arrangements
## 生活安排

- Consider living with parents to save on rent.
- 考虑与父母同住以节省房租。

- Move out only if necessary (work, study, marriage).
- 仅在必要时(工作、学习、结婚)搬出。

- Maintain a good relationship with parents while living at home.
- 住在家里时与父母保持良好的关系。

---

## Shared Living
## 共享生活

- Avoid living alone; share expenses with flatmates.
- 避免独居;与室友分担费用。

- Sharing costs can significantly reduce living expenses.
- 共享成本可以显着减少生活费用。

- Living with others fosters important relational skills.
- 与他人同住可以培养重要的人际关系技能。

---

## Transportation
## 交通

- **Avoid** buying a car; they depreciate and are costly to maintain.
- **避免** 买车;它们会贬值并且维护成本高昂。

- Use public transport and utilize travel time for reading.
- 使用公共交通工具并利用旅行时间阅读。

---

## Avoiding Addictions
## 避免成瘾

- Steer clear of expensive habits such as excessive drinking, gambling, or drug use.
- 避免昂贵的习惯,例如过度饮酒、赌博或吸毒。

---

## Student Loans
## 学生贷款

- Student loans (e.g., *HECS-HELP*) are generally favorable:
- 学生贷款(例如 *HECS-HELP*)通常是有利的:

- Interest rates are low (inflation rate).
- 利率低(通货膨胀率)。

- No discounts for early repayment.
- 提前还款没有折扣。

- Consider saving and investing funds instead of paying off loans early.
- 考虑储蓄和投资资金,而不是提前还清贷款。

---

## Post-Graduation Financial Mindset
## 毕业后的财务心态

- After graduation, maintain a frugal mindset for at least two years.
- 毕业后,保持节俭的心态至少两年。

- Resist the urge to overspend with a full-time income.
- 抵制用全职收入超支的冲动。

---

## Key Tips Recap
## 关键提示回顾

- Avoid campus food and coffee.
- 避免校园食物和咖啡。

- Improve cooking skills.
- 提高烹饪技巧。

- Track expenses diligently.
- 认真跟踪费用。

- Live with parents if possible.
- 如果可能,与父母住在一起。

- Share living expenses.
- 分担生活费。

- Delay car purchases.
- 延迟购车。

- Avoid costly addictions.
- 避免代价高昂的成瘾。

- Manage student loans wisely.
- 明智地管理学生贷款。

- Maintain a student mentality post-graduation.
- 毕业后保持学生心态。

---

> "It's a good time to have a bit of a break, so why don't you stand up, move around a bit, get the blood flowing."
> “现在是休息一下的好时机,所以你为什么不站起来,四处走动,让血液流动起来。”

# Summary of Financial Statements and Cash Flow
# 财务报表和现金流摘要

---

## Introduction to Financial Statements
## 财务报表简介

- Financial statements are essential for analyzing finances.
- 财务报表对于分析财务状况至关重要。

- They apply to companies, governments, nations, and households.
- 它们适用于公司、政府、国家和家庭。

---

## Three Main Financial Statements
## 三大财务报表

### 1. Balance Sheet
### 1.资产负债表

- Represents wealth at a specific point in time.
- 代表特定时间点的财富。

- Formula: `Assets - Liabilities = Wealth`.
- 公式:“资产 - 负债 = 财富”。

- Analogous to the quantity of water in a dam.
- 类似于大坝中的水量。

### 2. Income Statement (Profit and Loss Statement)
### 2.损益表 (损益表)

- Shows income, expenses, and profit over a period.
- 显示一段时间内的收入、支出和利润。

- Formula: `Income - Expenses = Profit`.
- 公式:“收入 - 费用 = 利润”。

- Reflects the flow of water into and out of the dam.
- 反映流入和流出大坝的水流。

- Profit from the income statement affects the balance sheet.
- 损益表的利润会影响资产负债表。

### 3. Cash Flow Statement
### 3.现金流量表

- Tracks cash inflows and outflows over a period.
- 跟踪一段时间内的现金流入和流出。

- Important for managing loans and paying bills.
- 对于管理贷款和支付账单很重要。

- Derived from changes in the balance sheet and income statement.
- 源自资产负债表和损益表的变化。

---

## Key Principles of Wealth Creation
## 创造财富的关键原则

- **Long-Term Wealth Creation**: More cash must flow in than out over time.
- **长期财富创造**:随着时间的推移,流入的现金必须多于流出的现金。

- **Cash is King**: Refers to having enough cash to meet financial obligations.
- **现金为王**:指有足够的现金来履行财务义务。

- Strong cash flow means control over finances.
- 强劲的现金流意味着对财务的控制。

---

## Understanding Cash Flow
## 了解现金流

- Cash includes notes, coins, and accessible bank accounts.
- 现金包括纸币、硬币和可访问的银行账户。

- Cash flow is distinct from income and expenses.
- 现金流与收入和支出不同。

### Differences Between Cash Flow and Income/Expenses
### 现金流与收入/支出之间的差异

- Borrowing money is a cash inflow but not income.
- 借款是现金流入,但不是收入。

- Loan repayments consist of principal (cash outflow) and interest (expense).
- 贷款还款包括本金(现金流出)和利息(费用)。

- Purchasing assets (e.g., vehicles) is a cash outflow but not an expense until depreciation occurs.
- 购买资产(例如车辆)是现金流出,但在折旧发生之前不是费用。

---

## Visualizing Cash Flow
## 可视化现金流

- Cash flow can be likened to fish in a dam.
- 现金流可以比作水坝里的鱼。

- Cash inflow and outflow can differ from income and expenses.
- 现金流入和流出可能与收入和支出不同。

### Principle of Cash Flow
### 现金流原则

- Ensure sufficient cash (or "fish") to cover bills and living expenses.
- 确保有足够的现金(或“鱼”)来支付账单和生活费用。

---

# Summary of Financial Statements and Balance Sheets
# 财务报表和资产负债表摘要

---

## Key Financial Statements
## 主要财务报表

- **Balance Sheet**
-**资产负债表**

- Represents assets minus liabilities, equating to **wealth** at a specific point in time.
- 代表资产减去负债,相当于特定时间点的 **财富**。

- **Income Statement**
-**损益表**

- Shows income minus expenses, resulting in **profit** over a period of time.
- 显示收入减去支出,在一段时间内产生 **利润**。

- **Cash Flow Statement**
- **现金流量表**

- Details sources of cash minus uses of cash, indicating the change in cash position over a period of time.
- 现金来源减去现金用途的详细信息,表明一段时间内现金状况的变化。

---

## Importance of Financial Statements
## 财务报表的重要性

- **Balance Sheet**
-**资产负债表**

- Indicates long-term wealth creation.
- 表示长期财富创造。

- Tracks what is owned (assets) versus what is owed (liabilities).
- 跟踪拥有的资产 (资产) 与欠款 (负债) 的对比。

- **Income Statement**
-**损益表**

- Provides insight into changes in wealth over time based on income and expenses.
- 根据收入和支出提供对财富随时间变化的见解。

- **Cash Flow Statement**
- **现金流量表**

- Essential for managing cash to ensure bills are paid on time and for obtaining loans.
- 对于管理现金以确保按时支付账单和获得贷款至关重要。

---

## Definitions and Examples
## 定义和示例

- **Assets**
-**资产**

- Defined as something owned that provides future benefits.
- 定义为提供未来利益的拥有的东西。

- Examples include:
- 示例包括:

- Transaction and savings accounts
- 交易和储蓄账户

- Investments (e.g., shares, retirement funds)
- 投资(例如股票、退休基金)

- Personal property (e.g., vehicles, home contents)
- 个人财产(例如车辆、家居财物)

- *University degree* as an intangible asset.
- *大学学位* 作为无形资产。

- **Liabilities**
-**负债**

- Obligations owed to others that must be repaid.
- 必须偿还的债务。

- Examples include:
- 示例包括:

- Buy now pay later debts
- 先买后付债务

- Credit card balances
- 信用卡余额

- Student loans (e.g., *HECS* loans)
- 学生贷款(例如 *HECS* 贷款)

- Personal loans and mortgages.
- 个人贷款和抵押贷款。

---

## Balance Sheet Structure
## 资产负债表结构

- **Wealth Calculation**
- **财富计算**

- Wealth = Assets - Liabilities
- 财富 = 资产 - 负债

- Terms like **net worth**, **net assets**, and **equity** are interchangeable.
- **净资产**、**净资产**和**股权**等术语是可以互换的。

- **Example Balance Sheet**
- **资产负债表示例**

| Assets | Liabilities | Wealth |
|资产 |负债 |财富 |

|----------------|------------------|----------------|

| $1,000,000 | $700,000 | $300,000 |
|1,000,000 美元 |700,000 美元 |300,000 美元 |

- **Balance Sheet Layout**
- **资产负债表布局**

- Assets on one side, liabilities and equity on the other.
- 一边是资产,一边是负债和权益。

- Both sides must balance according to the formula.
- 双方必须根据公式进行平衡。

---

## Context and Comparisons
## 上下文和比较

- Balance sheets gain meaning through comparisons over time.
- 资产负债表通过随着时间的推移进行比较而获得意义。

- Changes in balance sheet position reflect profit over the period.
- 资产负债表头寸的变化反映了该期间的利润。

---

## Accounting Methods for Assets
## 资产会计方法

- Two methods for recording asset values:
- 记录资产值的两种方法:

- **Historic Cost Accounting**: Based on original purchase price.
- **历史成本会计**:基于原始购买价格。

- **Fair Value Accounting**: Based on current market value if sold today.
- **公允价值会计**:如果今天出售,则基于当前市场价值。

- Choice of method is flexible for personal balance sheets.
- 个人资产负债表的方法选择是灵活的。

---

# Summary of Key Points on Depreciation and Financial Statements
# 折旧及财务报表要点摘要

---

## Depreciation and Asset Valuation
## 折旧和资产估值

- **Depreciation** is the decrease in value of physical assets over time, often considered a *non-cash expense*.
- **折旧** 是实物资产的价值随着时间的推移而下降,通常被认为是 *非现金费用*。

- When owning a property, it's advisable to record it at its **historic cost** rather than its current market value.
- 拥有房产时,建议以 **历史成本** 而不是当前市场价值进行记录。

- This approach helps in tracking changes in wealth due to *savings and investments* rather than fluctuations in property prices.
- 这种方法有助于跟踪由于*储蓄和投资*而不是房地产价格波动而导致的财富变化。

- Vehicles typically depreciate in value approximately every **3.5 years**.
- 车辆通常大约每 **3.5 年**贬值一次。

- The author of *Rich Dad Poor Dad*, Robert Kiyosaki, questions whether vehicles should be considered **assets** or **liabilities** due to their depreciation and associated costs.
- 《富爸爸穷爸爸》的作者罗伯特·清崎 (Robert Kiyosaki) 质疑,由于车辆的折旧和相关成本,车辆是否应该被视为 **资产** 或 **负债**。

- Vehicles are treated as **bad assets** in this context because they consume cash flow without generating it.
- 在这种情况下,车辆被视为**不良资产**,因为它们消耗现金流而不产生现金流。

---

## Methods of Depreciation
## 折旧方法

- Depreciation can be calculated using two methods:
- 可以使用两种方法计算折旧:

- **Straight Line Method** (Prime Cost Method):
- **直线法**(Prime Cost Method):

- Formula: `(Original Cost - Terminal Value) / Useful Life`
- 公式:'(原始成本 - 终端值) / 使用寿命'

- Example: For a car purchased at `$40,000` with a terminal value of `$10,000` over `6 years`, the annual depreciation would be `$5,000`.
- 示例:对于以“40,000 美元”购买且“6 年”终值为“10,000 美元”的汽车,则每年折旧为“5,000 美元”。

- **Diminishing Value Method**:
- **减值法**:

- More complex, reflects a curve in depreciation over time.
- 更复杂,反映随时间推移的折旧曲线。

---

## Share Investments
## 股票投资

- Shares can be recorded in two ways:
- 分享可以通过两种方式记录:

- **Fair Value Accounting**: Record shares at current market value, leading to a more volatile balance sheet.
- **公允价值会计**:以当前市场价值计算的股票创纪录,导致资产负债表更加波动。

- **Original Cost**: Record shares at the purchase price, resulting in a more stable balance sheet.
- **原始成本**:以购买价格记录股票,从而使资产负债表更加稳定。

- It is recommended to record shares at their **original cost** to focus on long-term investing rather than short-term price fluctuations.
- 建议以 **原始成本** 记录股票,以专注于长期投资而不是短期价格波动。

---

## Financial Planning Assignment
## 财务规划作业

- For the financial plan assignment, estimate your current balance sheet and compare it to a year ago.
- 对于财务计划分配,估计您当前的资产负债表并将其与一年前进行比较。

- Consider privacy; assignments are not retained after grading.
- 考虑隐私;评分后,作业不会保留。

---

## Understanding Financial Statements
## 了解财务报表

- The **balance sheet** is defined as:
- **资产负债表** 定义为:

- Assets - Liabilities = **Net Wealth** (also known as net worth or equity).
- 资产 - 负债 = **净财富**(也称为净资产或股权)。

- The **income statement** shows income and expenses over a period:
- **损益表** 显示一段时间内的收入和支出:

- Income - Expenses = **Profit** (or surplus/deficit).
- 收入 - 费用 = **利润**(或盈余/赤字)。

- Understanding these statements helps track long-term wealth creation and control over expenses.
- 了解这些报表有助于跟踪长期财富创造和控制支出。

- Profit impacts wealth directly; for instance, a profit of `$10` increases wealth by `$10`.
- 利润直接影响财富;例如,“10 美元”的利润会增加“10 美元”的财富。

---

> Remember, the importance of these financial tools is to provide clarity on your financial position and guide your decision-making for wealth management.
> 请记住,这些金融工具的重要性在于让您清楚地了解自己的财务状况并指导您做出财富管理决策。

# Summary of Income and Expenses
# 收入及支出摘要

---

## Types of Income
## 收入类型

- **Personal Income**: Wages or salaries from employment, representing a return on human capital investment.
- **个人收入**:来自就业的工资或薪金,代表人力资本投资的回报。

- **Investment Income**:
- **投资收益**:

- Interest, rent, dividends, or distributions from investments.
- 利息、租金、股息或投资分配。

- Profits from selling investments or assets.
- 出售投资或资产的利润。

- Potential losses can be treated as negative investment gains.
- 潜在损失可被视为负投资收益。

- **Non-repayable Financial Support**:
- **不可偿还的财务支持**:

- Financial aid from family, scholarships, or government social security.
- 来自家庭、奖学金或政府社会保障的经济援助。

- **Cash Inflows Not Considered Income**:
- **现金流入不计入收入**:

- Selling physical assets (e.g., cars, clothes) may not count as income if sold for less than their balance sheet value.
- 出售实物资产(例如汽车、衣服)如果以低于其资产负债表价值的价格出售,则可能不算作收入。

- Borrowing money (e.g., loans, credit cards) is not classified as income unless it is a gift.
- 借款(例如贷款、信用卡)除非是礼物,否则不属于收入。

---

## Understanding Expenses
## 了解费用

- **Definition of Expenses**: Costs incurred while living, studying, or investing.
- **费用定义**:生活、学习或投资时产生的费用。

- **Categories of Expenses**:
- **费用类别**:

- Housing and utilities
- 住房和公用事业

- Food and drink
- 食物和饮料

- Work and study-related expenses
- 工作和学习相关费用

- Transport
-运输

- Financial and insurance expenses
- 财务和保险费用

- Leisure
-暇

- Health
-健康

- Clothing
-服装

- Miscellaneous (optional)
- 其他(可选)

- **Cash Outflows Not Considered Expenses**:
- **现金流出不计入费用**:

- Education costs can be viewed as an asset rather than an expense.
- 教育成本可以被视为一种资产,而不是一项费用。

- Loan repayments (principal) are cash outflows, but only interest payments are considered expenses.
- 贷款还款(本金)是现金流出,但只有利息支付被视为费用。

---

## Income Statement Overview
## 损益表概述

- **Structure**:
-**结构**:

- Measured over a specific period (e.g., week, month, year).
- 在特定时期(例如,周、月、年)内测量。

- Key formula: *Income - Expenses = Profit*.
- 关键公式:*收入 - 费用 = 利润*。

- **Example**:
-**例**:

- Monthly income statement showing income, expenses, and profit (e.g., $40 profit).
- 显示收入、支出和利润的月度损益表(例如,40 美元的利润)。

- **Common Time Periods**:
- **常见时间段**:

- Weekly, monthly, yearly, or financial year.
- 每周、每月、每年或财政年度。

- **Savings Ratio**:
- **储蓄比率**:

- Calculated as *Profit / Income* (e.g., 1.67%).
- 计算为 *利润 / 收入* (例如,1.67%)。

---

## Managing Income and Expenses
## 管理收入和支出

- **Smoothing Out Figures**:
- **平滑数字**:

- Spread large income or expense amounts over several periods for better clarity.
- 将大笔收入或支出金额分散到多个时期,以提高清晰度。

- Example: Annual insurance bill of $360 treated as $30/month.
- 示例:360 USD 的年度保险账单被视为 30 USD/月。

- **Financial Planning for Students**:
- **学生财务规划**:

- Assess true living costs while living with parents.
- 评估与父母同住时的真实生活成本。

- Calculate share of household expenses (e.g., rent, utilities, food).
- 计算家庭开支(例如房租、水电费、食品)的份额。

- Recognize parental financial support as a non-cash income.
- 将父母的经济支持视为非现金收入。

> *"Building financial intelligence involves understanding the true cost of living."*
> *“建立金融情报涉及了解真实的生活成本。”*

# Summary of Financial Planning Concepts
# 财务规划概念总结

## Income and Expenses Estimation
## 收入和支出估算

- Estimate your income and expenses for the current or previous month.
- 估算您当月或上个月的收入和支出。

- Create appropriate categories for better organization.
- 创建适当的类别以更好地组织。

- Consider making comparisons with previous months or turning figures into percentages.
- 考虑与前几个月进行比较或将数字转换为百分比。

- The goal is to have a rough estimate of your financial situation.
- 目标是对您的财务状况有一个粗略的估计。

---

## Financial Statements Overview
## 财务报表概述

### Income Statement
### 利润表

- Measures income and expenses over a specific period (e.g., last month).
- 衡量特定时期(例如上个月)的收入和支出。

- Allows for comparisons with previous months or budgets.
- 允许与前几个月或预算进行比较。

### Cash Flow Statement
### 现金流量表

- Records cash inflows and outflows over a period.
- 记录一段时间内的现金流入和流出。

- The difference between inflows and outflows is the **net cash flow**.
- 流入和流出之间的差额是 **净现金流量**。

- Important for assessing your ability to make loan repayments.
- 对于评估您偿还贷款的能力很重要。

> "Cash flow is particularly important when you're applying for loans."
> “当你申请贷款时,现金流特别重要。”

---

## Cash Flow Analogy
## 现金流类比

- **Cash inflow**: likened to fish coming into a dam.
- **现金流入**:比喻鱼进入水坝。

- **Cash outflow**: likened to fish going out of the dam.
- **现金流出**:比喻鱼从大坝出来。

- The net change in cash flow is analogous to the change in fish population.
- 现金流的净变化类似于鱼类种群的变化。

---

## Importance of Cash Flow
## 现金流的重要性

- Banks require detailed cash flow information when applying for loans.
- 银行在申请贷款时需要详细的现金流信息。

- A negative cash flow position indicates depletion of cash reserves.
- 负现金流状况表明现金储备耗尽。

- A strong cash flow position suggests the ability to cover expenses and make loan payments.
- 强劲的现金流状况表明有能力支付费用和偿还贷款。

---

## Sources of Cash Flow
## 现金流来源

- Regular income from salary or wages.
- 来自工资或薪金的固定收入。

- Financial support (e.g., from parents, scholarships).
- 经济支持(例如,来自父母、奖学金)。

- Investment income (e.g., interest, dividends, rental income).
- 投资收入(例如,利息、股息、租金收入)。

- Selling assets (e.g., car, items) for cash.
- 出售资产(例如汽车、物品)换取现金。

---

## Uses of Cash Flow
## 现金流的用途

- Regular living expenses.
- 正常生活费用。

- Purchasing new assets (e.g., vehicles, computers).
- 购买新资产(例如,车辆、计算机)。

- Investing in shares or property.
- 投资股票或房地产。

- Loan repayments (e.g., credit cards, home loans).
- 贷款还款(例如,信用卡、住房贷款)。

---

## Analyzing Cash Flow
## 分析现金流

- Exclude non-cash items (e.g., depreciation, unrealized gains).
- 不包括非现金项目(例如,折旧、未实现收益)。

- Cash flow statements analyze past cash flow, while cash flow budgets forecast future cash flow.
- 现金流量表分析过去的现金流,而现金流预算预测未来的现金流。

---

## Budgeting Tools
## 预算工具

- The Australian government offers a free online budget planner on the MoneySmart website.
- 澳大利亚政府在 MoneySmart 网站上提供免费的在线预算规划器。

- While creating a budget is beneficial, it is not required for the financial plan assignment.
- 虽然创建预算是有益的,但财务计划分配不需要它。

---

## Key Takeaways
## 关键要点

- The cash flow statement is crucial for understanding cash movement over time.
- 现金流量表对于了解现金随时间的变化至关重要。

- It is essential for loan applications and managing financial obligations.
- 它对于贷款申请和管理财务义务至关重要。

- Main cash inflows include salary, asset sales, and borrowed funds.
- 主要现金流入包括工资、资产出售和借入资金。

- Main cash outflows consist of living expenses, asset purchases, and loan repayments.
- 主要现金流出包括生活费、资产购买和贷款偿还。

- Non-cash items should not be included in cash flow analysis.
- 非现金项目不应包括在现金流分析中。

# Summary of Financial Intelligence Concepts
# 财智概念总结

---

## Options for Payment
## 付款方式

- A company offers two payment options:
- 公司提供两种付款方式:

- `$1 a month`
- “每月 1 美元”

- `$1100 per year`
- “每年 1100 美元”

- **Mathematical analysis** suggests that option B is cheaper.
- **数学分析** 表明选项 B 更便宜。

- **Considerations**:
-**考虑**:

- Committing to a yearly expense may lock you in.
- 承诺每年的开支可能会将您锁定。

- Changes in income can affect financial stability.
- 收入变化会影响财务稳定。

---

## Understanding Expenses
## 了解费用

- Financial intelligence involves understanding both **income** and **expenses**.
- 财务智能涉及了解 **收入** 和 **支出**。

- **Key question**: How do changes in income affect profit?
- **关键问题**:收入的变化如何影响利润?

### Types of Expenses
### 费用类型

- **Fixed Expenses**:
- **固定费用**:

- Do not vary with short-term income changes.
- 不要随短期收入变化而变化。

- Examples:
-例子:

- Rent or home loan payments
- 租金或房屋贷款付款

- Vehicle loan payments
- 车辆贷款还款

- Basic living expenses
- 基本生活费

- **Variable Expenses**:
- **可变费用**:

- Change with short-term income fluctuations.
- 随着短期收入波动而变化。

- Examples:
-例子:

- Rent paid to parents (may decrease)
- 支付给父母的租金(可能会减少)

- Ride-share expenses
- 拼车费用

- Dining out or gourmet food
- 外出就餐或美食

### Factors Influencing Expense Types
### 影响费用类型的因素

- Moving out increases fixed expenses.
- 搬出会增加固定费用。

- Contracts and subscriptions make expenses more fixed.
- 合同和订阅使费用更加固定。

- Perception of necessity affects expense classification.
- 对必要性的感知会影响费用分类。

- Support from family can make expenses more variable.
- 来自家人的支持会使费用更加多变。

---

## Visualizing Income and Expenses
## 可视化收入和支出

- Diagram representation:
- 示意图:

- **Fixed expenses**: Flatline on the vertical axis.
- **固定费用**:纵轴上的平线。

- **Variable expenses**: Upward sloping line.
- **可变费用**:向上倾斜的线。

- **Profit Calculation**:
- **盈利计算**:

- Profit = Income - Expenses
- 利润 = 收入 - 费用

- Break-even point occurs when income equals expenses.
- 当收入等于支出时,就会出现盈亏平衡点。

---

## Operating Leverage
## 运营杠杆

- **Definition**: Proportion of total expenses that are fixed.
- **定义**:固定费用占总费用的比例。

### High Operating Leverage
### 高运营杠杆

- Most expenses are fixed.
- 大多数费用是固定的。

- Consequences:
-后果:

- Large losses during income drops.
- 收入下降期间的巨额亏损。

- Large profits during income increases.
- 收入增加期间的巨额利润。

### Low Operating Leverage
### 低运营杠杆

- Most expenses are variable.
- 大多数费用是可变的。

- Consequences:
-后果:

- Smaller losses during income drops.
- 收入下降期间的损失较小。

- Smaller profits during income increases.
- 收入增加期间利润较小。

---

## Life Stages and Operating Leverage
## 人生阶段和运营杠杆

- **Living at home**: Low operating leverage, low risk of loss.
- **居家生活**:低营运杠杆,低亏损风险。

- **Moving out**: Moderate operating leverage, increased fixed costs.
- **迁出**:适度的经营杠杆,增加固定成本。

- **Couples with children**: High operating leverage, significant risk of loss.
- **有孩子的夫妇**:运营杠杆高,损失风险大。

- **Retirement**:
-**退休**:

- Weak financial position = high operating leverage.
- 财务状况不佳 = 高运营杠杆。

- Strong financial position = low operating leverage.
- 稳健的财务状况 = 低运营杠杆。

---

## Case Studies
## 案例研究

- **Extravagant Edward**: High fixed and variable costs.
- **奢侈的爱德华**:高固定和可变成本。

- **Thrifty Timothy**: Lower costs, more financial flexibility.
- **Thrifty Timothy**:更低的成本,更大的财务灵活性。

- **Convex Katrina**: Moderate costs with some flexibility.
- **Convex Katrina**:成本适中,具有一定的灵活性。

- **Concave Kelly**: High fixed costs, less flexibility.
- **凹凯利**:固定成本高,灵活性较低。

---

# Summary of Financial Concepts and Planning
# 财务概念和规划总结

## Key Financial Characters
## 关键金融人物

- **Extravagant Edward**:
- **奢侈的爱德华**:

- High fixed costs leading to a high break-even point.
- 高固定成本导致高盈亏平衡点。

- Does not save money when income is between $0 and $1,000.
- 当收入在 0 美元到 1,000 美元之间时不存钱。

- **Thrifty Timothy**:
- **节俭的蒂莫西**:

- Low fixed and variable costs.
- 固定和可变成本低。

- Break-even point at $25,000; can save significantly if income rises.
- 25,000 美元的打和点数;如果收入增加,可以节省大量资金。

- **Convex Katrina**:
- **凸面卡特里娜**:

- Break-even point at $50,000.
- 打和点数为 50,000 美元。

- Experiences large losses if income drops; tends to spend extra income without saving.
- 如果收入下降,会遭受巨大损失;倾向于花额外的收入而不储蓄。

- **Concave Kelly**:
- **凹凯利**:

- Break-even point at $50,000.
- 打和点数为 50,000 美元。

- Can cut back on variable expenses if income drops; saves when income increases.
- 如果收入下降,可以减少可变费用;当收入增加时储蓄。

---

## Considerations for Financial Stability
## 财务稳定的考虑因素

- **Fixed and Variable Costs**:
- **固定和可变成本**:

- Costs can change based on life stages and situations.
- 成本可能会根据人生阶段和情况而变化。

- **Income Uncertainty**:
- **收入不确定性**:

- Varies by job type, experience, industry, and economic conditions.
- 因工作类型、经验、行业和经济条件而异。

- **Family Support**:
- **家庭支持**:

- Having options like moving back home can significantly impact financial stability.
- 拥有搬回家等选择会严重影响财务稳定。

- **Flexibility and Contentment**:
- **灵活性和满足感**:

- Ability to cut costs and maintain spending levels can aid in saving.
- 降低成本和保持支出水平的能力有助于储蓄。

---

## Financial Management Tips
## 财务管理小贴士

- **Avoid Consumerism**:
- **避免消费主义**:

- Don't believe that buying things leads to happiness; focus on core values.
- 不要相信买东西会带来快乐;专注于核心价值观。

- **Written Financial Plan**:
- **书面财务计划**:

- Develop clear goals aligned with values and strategies to achieve them.
- 制定与价值观相一致的明确目标,并制定实现这些目标的战略。

- **Budgeting and Expense Tracking**:
- **预算和费用跟踪**:

- Essential for financial control and planning.
- 对于财务控制和规划至关重要。

- **Cash Buffer**:
- **现金缓冲**:

- Maintain enough cash to manage cash flow and pay bills on time.
- 保持足够的现金来管理现金流并按时支付账单。

- **Emergency Fund**:
- **应急基金**:

- Build savings for unexpected expenses.
- 为意外开支储蓄。

- **Plan for Future Expenses**:
- **未来开支计划**:

- Identify and save for significant expenses over the next five years.
- 确定并节省未来五年的重大费用。

- **Borrowing Guidelines**:
- **借阅指南**:

- Only borrow for appreciating assets; avoid debt for depreciating items.
- 只为资产增值而借款;避免因项目贬值而负债。

- **Long-term Savings**:
- **长期储蓄**:

- Aim to save at least 20% of income for wealth creation.
- 目标是将至少 20% 的收入储蓄用于创造财富。

- **Home Ownership**:
-**居所**:

- Plan to own a home debt-free for long-term expense control.
- 计划拥有无债务的房屋,以便长期控制开支。

- **Financial Independence**:
- **财务独立**:

- Build an investment portfolio to cover living expenses.
- 建立投资组合以支付生活费用。

- **Risk Management**:
-**风险管理**:

- Consider how to mitigate risks related to finances.
- 考虑如何降低与财务相关的风险。

- **Financial Intelligence**:
- **财智**:

- Continuously improve financial knowledge through study and advice.
- 通过学习和建议不断提高金融知识。

---

## Financial Plan Assignment
## 财务计划分配

- **Current Situation Section**:
- **现状部分**:

- Include personal financial information for assessment purposes only.
- 仅出于评估目的提供个人财务信息。

- **Income Statement and Balance Sheet**:
- **损益表和资产负债表**:

- Estimate current income and expenses; create a basic balance sheet.
- 估计当前收入和支出;创建基本资产负债表。

- **Insurance and Estate Planning**:
- **保险和遗产规划**:

- Note current insurances and whether a will is drafted.
- 注意当前的保险以及是否起草了遗嘱。

- **Anticipated Cash Outflows**:
- **预期现金流出**:

- Identify upcoming significant expenses.
- 确定即将到来的重大费用。

- **Timeliness**:
-**及时**:

- Start working on the financial plan now; do not wait until the end of the term.
- 现在就开始制定财务计划;不要等到学期结束。

---

## Additional Support
## 其他支持

> "If you have questions about anything covered in the lecture material today, remember that you can always ask them in the general forums."
> “如果你对今天讲座材料中涵盖的任何内容有疑问,请记住,你可以随时在一般论坛中提问。”

- **Drop-in Sessions**:
- **临时会议**:

- Attend sessions for additional support and community engagement.
- 参加会议以获得额外的支持和社区参与。

---

Good luck with your financial planning!
祝您的财务规划好运!