Money Talk$ Lew DeLuca, Coordinator Student Financial Literacy & Advising Southern CT State University, WT 138 203-392-8862

Slides:

Advertisements

Similar presentations

Your Financial Education Guide. The Basic ABCs of Finance Income Opening Accounts Creating a Budget Financial Goals Money Management Borrowing Money Credit.

Advertisements

Warmup Why does the dollar on the left have value, while the one on the right does not? What is money? Define Salary? How does it differ from other types.

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

Copyright © 2011 Pearson Education, Inc. Managing Your Money.

Warmup Why does the dollar on the left have value, while the one on the right does not?

Compounding Interest You are interested in opening a savings account that pays interest at a rate of 6% compounded annually. You deposit $523 as your starting.

Measuring Your Financial Health and Making a Plan

HOW CREDIT CARDS WORK What you need to know about credit cards- including what credit cards companies can and can’t do, and what information they have.

Living Off Your Paycheck HealthKeepers, Inc. is an independent licensee of the Blue Cross and Blue Shield Association. ® ANTHEM is a registered trademark.

W!SE Test Topic Checklist Topics that are often problematic for students.

16 Money Management and Financial Planning

Financial Fitness Senior Seminar Agenda Student Loans Credit Cards Credit Report/Score Budgeting Insurance Saving and Investing.

Money Management Teen Living 10.01/ Don’t spend it 2.Make saving a habit Learn to Save $$

Becoming a Millionaire:

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

How to retire a millionaire. So what is your plan? Most people don’t have a plan for becoming rich or wealthy If your only plan is to marry someone rich,

Becky Hanna and Jennifer Paddick How to Manage your Financial Situation.

Consumers, Savers and Investors Chapter 6

The student will explain personal money management choices in terms of income, spending, credit, saving, and investing.

Financial Literacy Review Ms. Kohl Answer in True or False format.

Financial Literacy 101 Todd Jorns

Presented by Jeanne Nguyen.  Setting Priorities  Making a Budget ◦ How to Start a Budget ◦ How to monitor  Qualified Funds (401(k), Roth, IRA, and.

Residency Loans Residency Living Student Loans October 6, 2008.

Money Matters1. 2 Introductions Instructor and student introductions Module overview.

Financial Literacy 101 Todd Jorns

3 rd 9 Weeks Benchmark Review Career Preparedness.

P.Y.F.. Welcome! Explain why it is important to save Determine goals for saving money Identify savings options Determine which savings options will help.

Personal Financial Literacy Mrs. VanWart 1.CD = certificate of deposit lock in a guaranteed interest rate for specific period of time usually slightly.

HLS Student Financial Services Understanding Student Loans.

Building: Knowledge, Security, Confidence Budgeting.

Unit 6.3 Part 1 Budget Categories. What is a Budget? A plan for spending and saving money Most people think budgets are: –Rigid and inflexible –Painful.

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

Financial Literacy 101 Todd Jorns

Annual Percentage Rate (APR) The amount it costs you a year to use credit, expressed as percentage rate Interest, transaction fees, and service charges.

Personal Finance Test Review. Post Test Review A. Credit is the ability to obtain goods/services before payment is made based on the trust that payment.

Money Review Review In groups of 2 get slate board Marker & tissues.

Road to Financial Maturity Saving & Budgeting. Why Money Skills Are Important  Create Independence  Set and reach goals  Enjoy living responsibly within.

Prepare for Financial Emergencies Manage Spending 2. Prevent Financial Emergencies 3. Become Debt Free 4. Prepare For Retirement 5. Teach Kids.

11111 Youth Money Management Learning Good Spending Habits.

Financial Literacy 101 Todd Jorns

Chapter 16Copyright 2002 Houghton Mifflin Company - All Rights Reserved 1 By Mona J Casady Chapter Sixteen Managing Money By Mona J Casady Chapter Sixteen.

Your Cash. Discussion Topics Understanding how to manage you money wisely can mean the difference between success and personal stress. Overview Earning.

Money Matters. Money Matters 2 Welcome 1.Agenda 2.Ground Rules 3.Introductions.

Financial Literacy Buying a Car.... Finance Options: Savings – Put a regular amount into a Bank Account each month. Expect to receive around 2.75% interest.

Managing Your Money Chapter 23.

Your Financial Future Credit. Payroll deductions  Federal taxes – pays for roads, bridges, government, military, space program, disaster relief, schools.

Building: Knowledge, Security, Confidence Setting Financial Goals FDIC Money Smart for Young Adults.

Personal Finance April 17, Money Management  Everyone must make choices about what to do with their income, including you  Income is money earned.

Earning an Income Review. A purposeful course of action or purpose in life that generally provides income.

Welcome to our Financial Literacy Workshop Presented by: Maribel Castaneda Kimberly Diaz Brandon Galeano Lucia Machorro Diego Martinez Marbella Pleitez.

Brokerage Firms 401K’s, IRA’s, Mutual Funds. Banks vs. Brokerage Firms Brokerage Firm Specialize in accounts for stocks, bonds, mutual funds Banks Offer.

A plan for managing money during a given period of time Financial Roadmap.

Financial Literacy 101 Todd Jorns

Understanding your Paycheck. What information in on a pay stub? Gross wages- how much you earn before taxes and other deductions Net wages- amount left.

Financial Literacy & Capabilities Houston Community College Financial Literacy and Capabilities Prosper Chapter 2.

You and Your Credit UNIT VII – Personal Financial Literacy.

Money Management Getting a strong start 2 Achieving financial goals 3 Planning a secure future A project of Consumer Action |

The Role of the Consumer n Consumer purchases drive the economy –GDP=C+G+Ig+Xn –C=two thirds of GDP n Savings –Ig=Business spending comes from business.

1 Getting a strong start Money Management A project of Consumer Action | Funded by Consumer Action’s Money Management Project.

UNIT VII – Personal Financial Literacy

Personal Finance Review.

$mart Money Management

Personal Finance.

$mart Money Management

Money Talk$ Lew DeLuca, Coordinator

MoneyCounts: A Financial Literacy Series

$mart Money Management

UNIT VII – Personal Financial Literacy

Managing Money Chapter 13.

Be Wi$e with Money Financial Literacy & Advising Lew DeLuca Wintergreen Building 108E.

Presentation transcript:

Money Talk$ Lew DeLuca, Coordinator Student Financial Literacy & Advising Southern CT State University, WT

Financial Literacy & Advising

Life = Making Decisions Spending habits begin at an early age Needs (food, shelter, clothing, relationships, degree) vs. wants (most everything else) Use a money management calendar & create a monthly spending diary $4.00 coffee/day = $1,460/year “Live like a college student in college, so that you don’t have to live like one after graduation”

Develop a Budget INCOMEEXPENSES GrantsTuition & Fees ScholarshipsBooks & Supplies EmploymentHousing College savingsFood Family assistanceTransportation LoansHealth and/or Child Care OtherEntertainment Loan Fees Other

Borrow $ = Pay >Worth Trust from Lender to repay (with interest) Loan = legal obligation (MPN) >$29,000 nationally vs. <$25,000 Southern NSLDS.ed.gov (national student loan data system) Student loans appreciate in value – If earn $25,000/ year more with a degree – X 40 years to work = $1 million more/lifetime Invested $25,000 for ROI of $1 million

$ Saving Tips EARN MORE THAN YOU SPEND!!! Buy used or rent textbooks Use college student discounts Borrow for needs vs wants Limit financial aid refunds Pay unsub. Stafford loan interest quarterly Continued contact with lender now & then

Credit Cards build Credit Ratings Have one card, no annual fee, low interest rate and use sparingly Pay bill in-full and on-time (46% do not) ---OR--- – If $10 bill with 20% interest that goes unpaid then $2 interest + $35 finance charge + $40 late fee = $87 – If $1,000 bill and pay the minimum monthly it will take 13 years to pay a total of $2,129

Credit Bureau Ratings Credit = borrowed $ used to determine credit worthiness & repayment probability Range 300 to 850 to approve or deny loan Unpaid bills for >90 days go into collections then in default Most information appears for 7-10 years Credit score > GPA

Videos Regular People: Cosby Show – Sesame Street’s Sunnier Financial Days –

Pay Day Gross pay versus Net pay – $48,000 salary = $4,000/month ??? Less deductions for taxes, SS, medic-/dental, IRA, FICA, union dues, 529, etc. Pay yourself first = save 10% of paycheck – Retirement: IRAs, 401/3 (i.e. 5% you & 8% co.), etc. – Rule of 72 (72/interest rate to double your $) – Compound interest ($75/month for 5 yrs = $4,500 earning 5% = $5,122) – Diverse portfolio (savings, money market, stocks, mutual funds, & bonds)