1. Take Charge Of Your Credit Presented to you by … Sara Baker, Ladysmith Federal Savings & Loan sarab@ladysmithfederal.com 715-532-3389 A condensed version of lessons found in the ABA’s Get Smart About Credit Kit

2. What is Credit? Credit is the money that is lent to you today that you pay back over time, usually with interest. Credit allows you to buy now and pay later.

3. Did you Know? 39% of high school seniors have a credit card 91% of college students have a credit card The average college student graduates with $4,100 in non-school related credit card debt

4. Did you Know? More students quit college because of financial problems than academic failure Young adults have the second highest bankruptcy rate in the country Money problems are the #1 cause of divorce in Wisconsin

5. My Suggestion... Open a checking account with debit card. Save more than you spend - Pay Yourself 1 st ! Build Your Own Budget. Open a Credit Card & be responsible with it.

6. Why Get Credit Now? Good Credit is a necessity. Will help establish for future credit needs.

7. Steps to Credit... 1. Borrow only what you need & what you can afford to repay. 2. Start small & pay as promised. 3. Repay loans on time & as quick as possible.

8. The C’s of Credit... Character Capacity Collateral Capital Commitment Cash Flow Conditions Credit

9. Build Good Credit... Establish steady work record. Pay bills on time. Don’t bounce checks. Make regular deposits to a savings account. Make regular monthly credit card payments. Get a co-signer on your first loan if necessary. A co-signer is required for credit cards to young persons in certain instances.

10. Cost of Minimum Payment...

11. Credit Card Bill Sample... http://www.federalreserve.gov/creditcard/flash/readingyourbill.html

12. Your Credit Report... You get a free credit report once a year from each 1 of the 3 credit reporting agencies. Go to annualcreditreport.com

13. To Sum It All Up... Borrow only what you need & can afford. Start small and pay as promised. Repay loans quickly and on time. At least start with a savings account!!!

14. Saving $1 A Day...

15. Your Challenge...