Back to the Future or Gone in Sixty Seconds

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Back to the Future or Gone in Sixty Seconds?

• January 17, 2009

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1978
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1978
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1978

• Introduced in 1978
• Music became portable
• Block out their parents with headphones

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Changes in Personal FinanceHow the U.S. Altered
its Culture
Data US Courts, Census Bureau, SMR Research
Corp, Visa USA.
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1978 vs. 2008

• World in 1978

• World in 2008

• U.S. pop. 222,584,545
• Life expectancy 73.5 yrs
• Dow-Jones
• High 893
• Low 807
• Fed. spending 4.6 billion
• Fed. debt 776.6 billion
• Unemployment 7.1

• U.S. pop. 305,529,237
• Life expectancy yrs
• Dow-Jones
• High
• Low
• Fed. spending 2.9 trillion
• Fed. debt 10.5 trillion
• Unemployment 6.7

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1978 vs. 2008

• World in 1978

• World in 2008

• Median Household Income 15,064.00
• Cost of a first-class stamp 0.15
• Cost of a gallon of regular gas 0.63
• Cost of a dozen eggs 0.82
• Cost of a gallon of Milk 1.71

• Median Household Income 50,223.00
• Cost of a first-class stamp 0.42
• Cost of a gallon of regular gas 1.67
• Cost of a dozen eggs 2.49
• Cost of a gallon of Milk 3.72

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1978 vs. 2008

• 1978 Chevrolet Corvette

• 2008 Chevrolet Corvette

• 9,446.00
• MSRP

• 46,100.00
• MSRP

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1978 vs. 2008

• Avg. NH Apartment Rental

• Avg. NH Apartment Rental

• 167.00
• Average Cost of New Home
• 62,500.00

• 861.00
• Average Cost of New Home
• 287,500.00

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1978 vs. 2008

• Avg. NH College Tuition (private)

• Avg. NH College Tuition (private)

• 4,570.00
• Student Loan Limits
• (Stafford)
• 2,500 per year

• 29,675.00
• Student Loan Limits
• (FFELP)
• 5,500 per year

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1978 vs. 2008

• Credit Cards

• Credit Cards

• 93 of Americans have one
• Total Credit Card
• Outstandings
• 2,785,000,000,000
• (trillions)

• 51 of Americans had one
• Total Credit Card
• Outstandings
• 48,309,000,000
• (billions)

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Screenagers

• Many suffer from ODD
• Information Sponges
• Technology is essential
• Becoming masters at networking with friends
  acquaintances
• Fast efficient multi-taskers
• Their world is about speed

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Peer to Peer Lending (P2P)

• Introduced in 2005
• Newest version of borrowing from friends
  family
• Adapting to the new world order of social
  networking

• Loans range from 1,000 to 25,000
• Projected to grow to almost 6 billion in loans
  by 2010

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A New World

• Going out to dinner with friends is fun, but
  splitting the bill is a headache.
• But now its easy. I pay the bill and my friends
  pay me back directly with Obopay. Its easy, I
  get my money back, and theres no embarrassment

• Obopay is a fast, easy, and secure way to send
  and receive money through your cell phone

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Wallet Phones

• Introduced in Japan 2004
• FeliCa chip
• Can be linked to pre-paid card, debit card, or
  credit card
• 700 million phones projected by 2013

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RFID

• Radio Frequency Identification
• Developed by British WW II
• Mobil Speed-Pass
• Passports, pet tags, lost luggage, etc.

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Circles Back to Knowledge

• Armed with information choices
• Knowing that youre part of the cultural shift is
  information itself
• Take control and look out for yourself

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Back to the Future or Gone in Sixty Seconds?

• January 17, 2009