1. Your Financial Education Guide

2. The Basic ABCs of Finance Income Opening Accounts Creating a Budget Financial Goals Money Management Borrowing Money Credit Cards Loans Debt Management

3. Money Management You Must Learn How To Manage Your Money Responsibly

4. Income 1.Allowance How Do You Generate Income? Paycheck Gross / Net 2. A Job

5. 1. Gross: $452.43 3. Net: $273.85 2. Minus Deductions Fed. Income Tax Social Security State Income Tax Medical 1. 2. 3.

6. Income Now That You Have Money…. What Are You Going To Do With It? SPEND IT! SAVE IT! MANAGE IT!

7. Opening An Account Types Of Accounts Checking: Manage Day To Day Activity Under 18?Joint Checking Account Savings: Put Money Away For A Rainy Day. Let Your Money Earn Money!

8. Opening An Account Where Do I Go? Financial Institutions Banks CREDIT UNIONS!

9. Opening An Account What Do I Need? 2 Forms Of Identification: License Social Security Card Birth Certificate State ID Card Minimum Deposits: $50 For Checking $5 For Savings

10. Opening An Account What Do I Get? Check Card (ATM, Debit, Point Of Sale) Check Book (Keep It Balanced) Online Account Access Monthly Statements

11. 1. Date - The Date the Check is Written 2. Maker - Person / Business Who Writes the Check (The Name will be Printed on the Check) 3. Payee - Person / Business to Whom the Check is Written 4. Signature Line 5. Written Amount - The Amount Written in Numbers 6. Legal amount - The Amount Written in Words 7. Check number - Printed on the check and appears in the MICR line on the Bottom of the Check 8. Banking information - The Name of the Institution and The Association Number. 9. Account and Routing Numbers - Appear on the Bottom of the Check in MICR Line.

12. Keep Track of Your Balance 1.Day to Day 2.Monthly Statement

13. Creating A Budget Vs.IncomeExpenses Monthly IncomeExpensesCost $1,000 Food: Groceries Dining Car: Payment Insurance Gas MISC: Clothing Entertainment Utilities: Gas Electric Phone Cable Internet $300 $80 $120 $300 $70 $20 $60 $40 $100 $80 Rent: $3,000 Total: $2,250 Monthly Balance + $750

14. Financial Goals What Do I Want Or Need? How Am I Going To Pay For Them? AND

15. Financial Goals Goals to Aim For Rent Engagement Rings College / School Wedding Computer Home Car Children Entertainment Own Business Travel Retirement Short TermLong Term

16. Borrowing Money How Do I Borrow Money? 1.Go To A Financial Institution 2. Apply For The Following Loans: Credit Cards Student Loan Personal Loan (Used for Any Purpose) Car Loan Business Loan Home Loan

17. Credit Cards Be Careful Of Card Offers (Theyre Everywhere!) Mailers Department Stores Financial Institutions

18. Credit Cards What Effects My Score? Credit Score: Youre Not Borrowing Money! Youre Getting A Line of Credit! Establishing Credit (Put Bills In Your Name / Dept. Store Credit) Paying Bills On Time Maintaining Accounts The Ratio Between Money Owed To Credit Limit. The Higher the Score the Better : Effects Your Ability to Borrow Can Borrow More Lower Interest Rate. SCORE! 800 700 600 500

19. Credit Cards Benefits Of Good Credit 1. Can Get A Higher Credit Limit! 2. Get A Lower Interest Rate! YOU HAVE TO PAY THE CREDITORS BACK WITH YOUR MONEY!

20. Credit Cards What Is An Interest Rate? The Increased Percentage Rate That You Have To PAY BACK To Creditors.

21. Credit Cards How It Works Apply For Card Get Card Use Card To Make Purchases Get Monthly Bill / Statement With Card Usage, Balance, Limit, Minimum Payment, Due Date Pay At Least The Minimum Requirement By Due Date (Insert: Credit Card Statement)

22. 1. Account Number 2. New Balance 3. Due Date 4. Minimum Payment 5. Transactions 6. Account Summary 7. Finance Charges 8. Percentage Rate 1. 2. 3. 4. 5. 6. 7. 8.

23. Credit Cards DOS: Do Make Your Payment On Time Do Pay More Than Your Minimum DONTS: Dont Be Late On Your Payments Youll Be Charged A Fee It Will Increase Your Interest Rate It Will Lower Your Credit Score Dont Maximize Your Limit THIS LEADS TO BAD CREDIT!

24. LOANS Applying For A Loan: You Must Show That Youre A Qualified Borrower. AND Show You Have The Ability To Pay Back Your Loan!

25. LOANS YOU WANT! 1. A LOW Interest Rate 2. A Monthly Payment You Can Afford. How Do I Get This?

26. LOANS To Get A Good Loan Youll Need: Capital (Down Payment / Collateral) Proof Of Income Excellent Credit Score Note: A Co-Signer (Parent / Spouse) Can Help YOU!

27. LOANS Look For: First Time Borrowers Programs Watch OUT For: Teaser Rate Programs Example: No Money Down / 0% Interest. Pay Attention To: Terms And Conditions Default Rates

28. LOANS WARNING! WARNING! WARNING ! Adjustable Rate Your Loan May Be Affected By Terms And Conditions! Fixed Rate Vs. Interest Rate Doesnt Change Interest Rate Starts Low Adjusts To A Higher Rate Monthly Payment Will Increase

29. LOANS DOS: Do Make Your Payment On Time Do Try To Pay More Than Your Minimum DONTS: Dont Be Late On Your Payments Youll Be Charged A Fee It Will Increase Your Interest Rate It Will Lower Your Credit Score Dont Default On A Loan THIS LEADS TO BAD CREDIT!

30. DEBT MANAGEMENT With Loans You Will Have Debt To Pay Back.

31. DEBT MANAGEMENT Tips To Manage Debt Pay More Then The Minimum Requirement Refinance Your Loan For A Better Rate Consolidate Your Loans Into One Payment And Finally… Create A Repayment Plan (Payoff A Loan Before Taking on Another)

32. DEBT MANAGEMENT PAY FOR IT IF YOU CAN AFFORD IT…. WITH CASH!