College Money Management 101 - PowerPoint PPT Presentation

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College Money Management 101

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College Money Management 101 – PowerPoint PPT presentation

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Title: College Money Management 101


1
College Money Management 101
2
Building Your Future
  • Money Management
  • Making College a Reality
  • Insurance Reminders

3
Money Management
4
Budgeting
  • List monthly income
  • Job earnings
  • Savings parental support
  •  Expenses (estimated)
  • Education
  • Meals, entertainment
  • Personal care items

5
Sample Budget
  •  Gross monthly income
  • Net income
  • Fixed expenses
  • Flexible expenses

6
Sample Budget
  • Discretionary expenses
  • Total it up
  • Increase your savings
  • Programs like Quicken can help

7
The Impact of Income
  •  Save spend wisely
  •  Make saving a priority
  • Acquire savvy shopping skills
  • Understand the cost of credit
  •  Be aware of taxes

8
Investing for Wealth
  • The power of compound interest
  •  Rule of 72
  • 72/236
  • 72/612
  • 72/89

9
Investing for Wealth
  •  Planning for wealth
  •  Make the most of a 401(K)

10
Danger of Credit Cards
  • Teaser rates
  •  Stick with one
  •  Pay in full
  •  Pay on time
  •  Avoid cash advances

11
Danger of Credit Cards
  •  Protect your history
  •  Stay within the limit
  •  Review your statements
  •  Report a lost or stolen card immediately
  •  Protect personal information

12
Making College a Reality
13
Making College a Reality
  • Implement a savings blitz
  • Financial aid
  • Seek out scholarships
  •  Turn to government loans
  •  Focus on less expensive schools

14
Facts on Financial Aid
  • Always apply
  •  Apply early
  •  Understand the EFC

15
Facts on Financial Aid
  •  Spend assets wisely
  •  Evaluate offers
  •  Grants and loans

16
Insurance Reminders
17
Insurance Reminders
  •  Homeowners/renters
  • Auto Insurance
  •  Health Insurance

18
Thank You!
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