 Simple Banking  Budgeting  Decision Money Making and Goals  Establishing Credit and Credit Cards  Rent and Mortgages  Stock Market  Educational Importance and Job Markets  College, Decisions, and Expenses

 “Nursing school definitely did not prepare me for all of the poop I cleaned up in the first 100 days as a nurse.”  Virginia Nurse

TThere is more training required in order to drive a car than there is to have and raise a child or be financially independent

 3 things you want to learn as part of this class  2 things you know about money, finance, economics  1 goal you have for yourself in the following areas: Education Work Money/ Finances

 “The science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind”  Basically… The “how to” of satisfying a society’s unlimited wants and needs

 Is there only one way of doing it?

 Traditional Relies on custom or ritual to make decisions  Market “hands off” Relies on consumers to make choices  Command/Planned Socialism Gov’t makes decisions  Mixed Both Market and Command  How does the United States do it?  What is our system called?

 CAPITALISM “an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth”  What???

 Free market  Supply and Demand  Based on consumer choices  Educational and job choice  Little gov’t interference  Goal is to make money  The system is not individual dependent

 How much does the gov’t really affect your lives?  The business may put the price tag on that fabulous pair of jeans you’re wearing but who really set that price?  Can you choose… Where you go to college If you go to college What you major in What you do for a living Where you live, what you drive To live in the woods and be a reclose

 Aren’t you the master of your own destiny?  What if your destiny is… A minimum wage job Living in a dangerous neighborhood Always on the brink of personal and financial disaster?  Can this actually happen?  Who does that effect?  Does anyone really care?  Are we a fair society?  But that’s Capitalism…

 Does society need to adapt to constant changes in OUR way of doing it?

 “Survival of the Fittest”  How does this apply to a capitalist society?

 Can society be left to feel unsatisfied?

 Debt.org  2010 Bankruptcy stats: 36% who filed had a high school education 29% who filed had some college 20% who filed earned a Bachelor’s degree or higher 60% who filed had an income under $30,000/year

 A 2011 study suggests… Those with some education are at a higher risk of bankruptcy because of the financial burden of college loans and a less than expected professional salary  Cost analysis (We’ll go over that!) Total US student debt: Over $1 Trillion

 In Massachusetts… We have a very financially stable state when compared to the other 49 states 2 nd highest average credit score (NJ) Mass residents average $6,429 in credit card debt 63% of Mass. College grads have debt  Average of $25,541  That’s $100+ every month for 20 years that you paid towards your loan

 Never be satisfied  Always be self-aware  Be selfish and do what makes you happy  Watch out for moose when driving (those things can do some damage)  Understand that you don’t know everything, no one does, and do not ever be afraid to ask for help