1. 1 Financial Wellness Curriculum Introduction to Financial Management More information available at www.YouCanDealWithIt.com

2. 2 Introduction to Financial Management  Understand short and long term goals  Where does your money go  How to use student loan money wisely  Learning to budget  Understand how to manage debt  Smart ways to think about money

3. 3 Setting Financial Goals  Short Term Goals:  Have enough money to last the semester  Go out Friday night  Pay off a department store credit card  Long Term Goals:  Buy a car  Go to Cancun for spring break  Buy a laptop

4. 4 Know Where your Money is Going  Evaluate and track spending  Keep a record of all your receipts for an entire month  Update your check register  Remember that spending beyond your limits is dangerous

5. 5 Track Expenses  Education expenses  Books  Transportation  Meals  Living expenses  Rent  Utilities  Cell phone  Debt payments  Car  Credit cards  Savings  Pay yourself first

6. 6 70-20-10 Rule Use this as a guide to show you how to divide your money successfully.  Spend 70%  Use for living and education expenses - rent, food, clothing, tuition, etc.  Save 20%  5% for emergency funds  5% for specific goals – vacation, computer, etc.  10% invest for the long-term  Spend 10%  For debt payments – car loan, credit card, student loans

7. 7 Determining Financial Priorities  If you have $50 what would you spend it on?  Savings or Personal Appearance  Social Activity or Paying a Debt  Sports or Eating Out  Hobbies or Paying a Debt  Personal Appearance or Sports  Paying a Debt or Clothes  Eating out or Savings

8. 8 Use Your Student Loan Money Wisely  Use student loan money for school-related expenses only  Tuition  Books  Supplies  Transportation  Loans are not free money  Don’t incur unnecessary debt  Remember: Your student loan must be paid back!

9. 9 Creating a Budget  Not restricting, but empowering  Lets you have more control over your life  Helps you see exactly where your money is going  Think spending plan, not budget

10. 10 Budget Calculator

11. 11 Managing Debt  Monthly debt:  Credit cards  Student loans  Car payments  Personal Loans  If your debt is:  Under 15% - Relax  15-20% - Be Cautious  Over 20% - Red Flag

12. 12 Before You Buy …  Do you spend without thinking?  Before you make your next purchase - even if it is a “just” a new pair of jeans – walk away for 15 minutes and think about the following:  Do you NEED it?  How will you pay for it – cash or credit?  Where are you going to put it?  What will happen if you don’t buy it?

13. 13 Smart Ways to Think about Money  Make Your Money Last  Find ways to increase your earnings  Create and commit to a monthly budget  Stay on top of your goals  Reduce Debt  Stop charging  Break the habit of paying only the minimum  Transfer high rate credit card balances

14. 14 Debt Repayment Calculator

15. 15 Introduction to Financial Management  Understand short and long term goals  Where does your money go  How to use student loan money wisely  Learning to budget  Understand how to manage debt  Smart ways to think about money

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