Building Your Financial Foundation. Do you think people are more likely to buy something they do not need when they use a credit card? What is Credit?

Slides:

Advertisements

Similar presentations

Identity theft Protecting your credit identity. Identity Theft Three hundred forty three million was lost from consumers in 2002 The number of complaints.

Advertisements

Credit and Credit Cards

Chelsie Andera and Hannah Ruona Money Matters!. Budgeting.

World of Credit By: Kunal Jolly. What is Credit? Credit mean that you have an opportunity to use someone elses money to meet your own requirements.

Credit Cards. What is a Credit card? A plastic card that represents a line of credit A line of credit is an account with money that you can borrow repeatedly.

What you should understand about buying a mobile phone Developed By by.

Presented By Drexel and FMFCU.

PERSONAL FINANCIAL MANAGEMENT

Teens 2 lesson seven understanding credit presentation slides 04/09.

TEST PREP 1. A. The amount you can afford to pay B. The minimum payment stated on your bill C. The minimum amount due on your debit card D. 20 percent.

 Topic Overview o Financial Psychology – Goal-setting, relationship with money, spending and savings habits. o Accounts and Budgeting – Automate and.

Getting Out of Debt. Diagnosis the Problem Common Causes of Debt: –Emotional Spending: spending money to feel good, powerful, or to show group identity.

Banking in the United States

Financial Head Start. Why care? It’s Your MONEY 2.

FINANCIAL PLANNING FOR ENGINEERS Credit Reports, Credit Scoring, and Credit Cards 1 Ben Groen.

$ tartNow A 10 hour Financial Literacy Programme for young people on the Youth Payment and Young Parent Payment Scheme Delivered by New Zealand Federation.

Dealing the Cards of Credit Credit cards No set time to be paid back May pay in full, part, or minimum payment No finance charge if bill paid in full.

Smart Spending: Credit and Budgeting Glow Foundation 2010.

Money A presentation by Student Fiscal Services University of Washington.

CHECKING, SAVINGS, AND INVESTING MANAGING YOUR MONEY.

PERSONAL FINANCES Project. In this project you will  Create and Manage a Personal Budget  Discuss the Pro’s and Con’s of a selected Credit Card  Research.

Unit 03: Financial Literacy Vocabulary. Available Balance The amount available in an account for a person, business, or organization to spend. How much.

Credit Consumer Economics. What is credit? The ability to borrow money now with the promise that you will repay it in the future. Credit can be a useful.

Financial Literacy Part II. Credit Cards A plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services.

Financial Literacy Education III: Credit and Credit Cards Fall 2010 Online Version for Program Course Credit

Securing Your Financial Future Cash Management Presented by Teresa Muench NEA Member Benefits April 4, 2015.

Credit & Debit Cards Personal Finance Mrs. Brewer.

1 © 2012 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill Chapter Ten Making Financial Decisions.

Fifth Third Bank, Member FDIC. Eisenhower High School September 15, 2013.

Credit What YOU need to know!. What is Credit? Credit is borrowing money now to make an immediate purchase and promising to repay it later.

Identity Theft  IDENTITY THEFT occurs when someone wrongfully acquires and uses a consumer’s personal identification, credit, or account information.

YOUR FINANCIAL FUTURE A GUIDE TO MANAGING YOUR FINANCES.

Financial Management Jonathan Banks. 1. Get Paid What You're Worth and Spend Less Than You Earn 1. Get Paid What You're Worth and Spend Less Than You.

Identity Theft What is Identity Theft?  Identity theft is a serious crime. Identity theft happens when someone uses information about you without your.

Credit Pros and Cons Unit 1 Lesson 4. Introduction Credit use carries an important responsibility. Credit use carries an important responsibility. When.

Financial Literacy Michael Bernard, CFP, ChFC, EA.

Financial Foundation A Financial Literacy Project Sponsored by Carolina First Bank A Trade Name of TD Bank N.A.

SCHOOL EMPLOYEES CREDIT UNION OF WASHINGTON FINANCIAL MANAGEMENT 101 M oney t alks FINANCIAL MANAGEMENT 101 credit But Good.

Be Cautious of Identity Theft By: Sydney Langley.

Warm Up – Pick which bank you would like to deposit your money in. Give 2 reasons for picking the bank. CriteriaWells FargoA Plus FCUBank of America Savings.

Jobs, Money and Personal Finances Houghton College Transition Orientation Program.

Banking Savings Checking Credit Cards

HOW TO FINANCE YOUR LIFE Financial Literacy. Savings Accounts Saving – The process of setting money aside for a future date instead of spending it today.

7.3 Protect your Identity Objective: Understand the importance of managing and protecting your personal credit….

Do you know the answer? What is the annual interest rate of most credit cards in Canada? Government restricts it to less than 20%, so the credit card companies.

Developing a Spending Plan (Location) (Date). Develoing a Spending Plan What we’ll talk about today Setting Goals Identifying Income Identifying Expenses.

* Do you have a checking account or credit card that you pay for? Do you know how to manage a checking account or credit card? * Please put your responses.

Managing Your Money Chapter 23.

“The entire essence of America is the hope to first make money—then make money with money—then make lots of money with lots of money.” Paul Erdman.

Grade 12 Family Studies.  Do you have a credit card?  What is it used for?  How is it like a loan?

Credit Advantages Improved standard of living. Credit Advantages Improved standard of living Convenience and safety.

The Dangers and Consequences of Identity Theft By: Deandre Bennett.

Protecting Your Assets By Preventing Identity Theft 1.

Carroll County Advisement Program FINANCIAL LITERACY *IDENTITY THEFT *MONEY MANAGEMENT.

Credit Terms and Conditions What happens when you overspend and cannot pay…

Getting Out of Credit Card Debt A Financial Literacy Presentation by Member Name, CPA.

Opening up a Checking Account Eliseo Lugo III. 2 To choose the one that’s right for you when the time comes To take the right steps to open a bank account.

Credit and debt management. Student Learning Objective Compare and contrast the financial benefits of different products and services offered by a variety.

Unit Four Good Debt, Bad Debt: Using Credit Wisely.

Chapter 5 The Banking System. Choosing a Bank Research local bank websites. Select a bank with the most ATMs in your proximity. Look for banks that can.

Analyzing Credit and Debt  When you use credit responsibly it can be very convenient because you can use it to buy things now and pay for them later by.

Account Number Is your unique reference number in a bank?

Using Credit Chapter 6. Basic Concepts Can have an impact on attaining financial goals Can impact cash budgets Allows the acquisition of more expensive.

Bank On It FDIC Money Smart for Young Adults Building: Knowledge, Security, Confidence.

Banking in the United States. U.S. Banking System Overview  The Federal Reserve System is the central banking system of the United States.  Regulates.

Credit, Debit, and ATM Cards

#1 Consumer Fraud Complaint – 5th straight year!

Building Your College & Adult Financial Foundation

YOUR MONEY, YOUR FUTURE GAME OF LOANS

5 of the Most Commonly Asked Credit Card Questions.

Presentation transcript:

Building Your Financial Foundation

Do you think people are more likely to buy something they do not need when they use a credit card? What is Credit? ? C-1

What is Credit? Bad Credit: Purchases $1000 Interest Rate 27% Minimum Payment $23 Years to Pay off 12 years Interest Paid $2,312 Actual Cost $3,312 Good Credit: Purchases $1000 Interest Rate 7% Minimum Payment $10 Years to Pay off 12 years Interest Paid $440 Actual Cost $1,440 Purchase with Savings: Purchases $1000 Amount Saved/month $125 8 months to save $1,000 Interest earned on money in savings $30 Actual Cost $970 C-1

Credit cards can be a tool to build your credit rating. To avoid interest and extra expenses pay your credit card balance off in full every month. Paying off your credit cards in full allows you to build your credit history without paying interest charges. WARNING: Before getting a credit card: o Have 6 months worth of bills saved o Have a working budget o Control your spending o Have a clear written plan in place What is Credit? C-1

Identity Theft C-3

Types: Social Security Identity Theft Driver’s License Identity Theft Financial Identity Theft Medical Identity Theft Insurance Identity Theft Children’s Identity Theft Criminal Identity Theft Mortgage Identity Theft Identity Theft C-3

Identity Theft C-3 Tips: Use only a secure server to access the Internet. Shred any document with personal information. Keep your Social Security card, passport, license, and other valuable personal information hidden. Get a mailbox that locks. Opt out of unnecessary (sometimes risky) credit or insurance offers. Call Never provide your social security information or private contact information over the phone–unless YOU initiated the phone call. Delete any suspicious . For debit and credit cards Don’t carry your PIN in your wallet, purse, or pocket or write it on your card.