1.  Money and Time Management

2. Warm up  You have just inherited $50,000 from a family member. Explain what you would do with the money.

3. Objectives  Identify tips for good time and study management.  Identify benefits of effective time management.  Identify ways to be smart with your money.  Discuss reasons why a person must be careful when using credit cards.

4. List in order of importance (1=Most, 12=Least) 1. Family 2. Friends 3. Oneself 4. Chores and job responsibilities 5. School work 6. School activities 7. Physical Activities 8. Mental Activities (reading, learning) 9. Hobbies and entertainment 10. Rest and sleep 11. Healthful eating 12. Helping others

5. Time Management Tips  Time Management tips 1. Set specific, realistic and achievable goals. 2. Set priorities and concentrate important activities first. 3. Use a calendar to keep track of important activities. 4. Make a daily to do list. **Allow time for sudden yet important activities that sometimes come up.

6. Study Time Management Tips  Speed dating activity: Talk to a partner about your study habits. 1. Determine your best study time. 2. Study difficult subjects first.  Info is easier to learn when you are fresh. 3. Study in short time blocks, take periodic breaks. 4. Find your best study environment.

7. Benefits of Effective Time Management  More control of daily activities.  Studying is less stressful.  Keeps you from getting behind and missing deadlines.

8. Credit, Interest, Debit  Credit card: used to purchase items, for which the card holder agrees to pay later.  Bill either paid in full or in part, if only part of the bill is paid interest is charged on the balance.  Interest: a fee, charged by the credit card company, to the cardholder, for the use of money.  Debit: takes money straight out of your accounts.  Debt: condition of owing.

9. Did You Know?  If your CC balance was $10,000 and you made the minimum monthly payment of $175 at 18% interest, and never charged another thing on the card it would take you 11 years to pay off the debt. You would pay more than $13,000 in interest charges, which would bring your total of original debt plus interest to more than $23,000.

10. Managing Money  Base your spending decisions upon your budget. If something costs more than your budget will allow wait until you have saved enough money to purchase it.  Make sure you have the money before you spend it!!

11. US Statistics  http://www.usdebtclock.org/ http://www.usdebtclock.org/  What is our nation’s debt?  What is the national debt for the US?  What is the debt per citizen?  What is the population of the US?  What is the number of people who pay taxes?  What is the total credit card debt?

12. Investing Your Money  Savings accounts  Certificate of Deposit (CDs)  Stock Market  IRA’s  Retirement Accounts

13. Be Smart with Your Money  Following these tips to save money and spend wisely:  Save first  Think before you spend  Don ’ t forget your goals  Use credit cards with caution  Let your money work for you