4. Profit. 5. Credit

Size: px
Start display at page:

Download "4. Profit. 5. Credit"

Transcription

1 What do you want and how are you going to get it? Personal Finance 1. Income 2. Budget 3. Investing 4. Profit 6. Spending 7. Savings 8. Assets 9. Expenses Income vs. Expenses 5. Credit 10.Liabilities SS8E5 The student will explain personal money management choices in terms of income, spending, credit, saving, and investing.

2 Income How much money you make in a given period of time, normally a year.

3 Income: Gross vs. take home Gross is total income: everything you earned. Take home(aka net income) is the Gross minus taxes, benefits such as insurance, Social Security, retirement, etc...

4 Disposable Income The income that a person has left over after paying taxes and bills.

5 Budget A plan for how a person, business, organization, or government will spend its income over a set period of time.

6 Investing expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture

7 Risk The possibility that an investment will lose money instead of paying a profit The greater or higher the risk, the higher the possible profit, but there is a greater chance of a loss

8 Profit a financial gain, esp. the difference between the amount earned and the amount spent in buying, operating, or producing something

9 Profit Motive The intent to achieve monetary gain in a transaction or material endeavor. People who invest time or money normally do so in expectation of some sort of profit

10 Credit the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future the money lent or made available under such an arrangement Loans, Credit Cards, Rent to own, lease, buy now pay later, etc...

11 Importance of Credit Most Americans will rely on credit at some point in their lives. It helps us to make purchases small and large, and build a reputation for being a responsible borrower. Consumer credit is an engine of growth for the economy. About three-quarters of all automobile purchases are made on credit terms, either financed or leased, and about 95 percent of home purchases involve a mortgage, another form of credit.

12 Good Credit A qualification of an individual's credit history that indicates that the borrower is a safe credit risk. A high credit score is an indicator of good credit, while a low credit score indicates bad credit. An individual's credit history is dependent on a number of factors, including the amount borrowed, the amount of available credit remaining and the timeliness of payments. Having good credit makes it easier to obtain loans, such as mortgages, and allows the borrower to obtain a more favorable interest rate.

13 Bad Credit A qualification of an individual's credit history that indicates that a borrower carries a higher credit risk. A low credit score indicates bad credit, while a high credit score is an indicator of good credit. Creditors who have lent money to an individual with bad credit face a higher risk of that individual missing payments or defaulting. Think Credit Score Having bad credit makes it more difficult or costly to obtain loans, such as mortgages, from financial institutions.

14 Things that could cause bad credit: making payments late missing payments defaulting on a loan filing bankruptcy maxed out credit cards foreclosure having an account sent to collections etc... high credit card balances

15 The Dangers of Credit Over spending!!!!! Defaulting on loans, payments, etc...can harm financial institutions, manufacturers, and retailers. Defaults can lead to higher interest rates on loans and difficulty getting loans/credit Defaults can lead to lower investment returns for shareholders and savings accounts Worse case: Defaults could lead to business and/or bank failures. YOUR ACTIONS IMPACT OTHERS!

16 Spending Paying out income (money) for goods or services

17 Savings Income that is not spent on goods or services. Savings invested in bank savings accounts normally receive interest.

18 Interest money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt

19 Assets Anything that is owned which has exchange value: it could be sold to make money.

20 Expenses the money spent on something ( expenses) the costs incurred in the performance of one's job or a specific task anything on which one is required to spend money

21 Liabilities a thing for which someone is responsible, esp. a debt or financial obligation

22 Income vs. Expenses Your goal is to spend less each month than you made that month. Income > Expenses= Budgets need to account for savings! Save or invest for known future expenses such as retirement, vacations, car maintenance, and/or future educational needs. Plan for the unexpected!!!

23 1. What is the average income for American men? 2. What is the average income for American women? 3. What job makes the most and which makes the least? 4. Has the average American income improved over the last 40 years?

24 What do you WANT? What is your dream for your future? Where do you want to be in 10 years? What kind of job do you want? What kind of car do you want to drive? What kind of home do you want? Where do you want to live? What kind of vacations do you want to take? What kind of technology, hobbies, etc... Start setting goals NOW! Know where you want to go and what you have to do to get there! Think about the amount of education or post secondary training you may need. Create a plan and follow it!

25 What do you want to be when you grow up? Discover how much you might be earning: Consider how much education you will need to do this job. Check on education costs and assume you will need a student loan. Best case, the loan will need to be paid off in 10 years at about 3% interest.!

26 Home Work Talk to your parents and get help estimating the following monthly expenses Utilities: water, power, cable or satellite, phone (cell and land line), gas or propane, internet Food: Groceries and eating out! Car: gas, maintenance, insurance, taxes, and loan or lease payments Housing: rent or mortgage, insurance, taxes, maintenance Other: medical insurance, educational expenses, sports fees, saving for vacations, entertainment, etc...

27 Home Work Application Get into groups of 4 Use your list of expenses and create an average for the group. Break it down into segments: Utilities, Cars, Food, Housing, Other. Answer the following questions: 1.On average, how much a money does your group spend each month? 2.Which segment consumes the most of your group s income? 3.If you had to cut your expenses, what could you cut with out damaging your credit?

28 What do you WANT? What is your dream for your future? Where do you want to be in 10 years? What kind of job do you want? What kind of car do you want to drive? What kind of home do you want? Where do you want to live? What kind of vacations do you want to take? What kind of technology, hobbies, etc... Start setting goals NOW! Know where you want to go and what you have to do to get there! Think about the amount of education or post secondary training you may need. Create a plan and follow it!

29 1. You beat the house. 2. The more that is required the better the chance of a big pay out. 3. You are more likely to die from what than to win the lottery? 4. Americans spend dollars on the lottery each year.

30 1. On what do Americans spend the largest percentage of their income? 2. How much do Americans spend on tattoos and piercings each year? 3. How much of their income do Americans spend for the necessities? How does this compare with 1950? 4. How much do Americans spend each year on cell phone service?

31 1. What percentage of your income should you save or invest each year? 2. What habit could help you become a millionaire?

32 1. What are the millionaire's three spending tips? 2. What could be another word for tip #1? 3. According to the millionaire, what is the enemy? Why is it the enemy?

33 Remember: little things can add up to big things.

34 Eating out vs. brown bagging it Big Mac Value meal: $5.00 Sandwich, chips, and coke from home: $2.00 Starbucks vs. brew at home Starbucks tall: $1.75 Brewed at home: $.15

35 1. The road to wealth is not about what you make, it is about how much you. 2. How much does Warren Buffett make per hour? 3. What yearly income buys happiness?

36 Financial Calculators Decide if you will rent or own your home. Do you want an apartment, condo, or house? If you want to rent, use the internet to discover rent costs. If you want to own, use a real estate website to chose a house and then use the mortgage calculator to figure out your monthly payment. Remember the cost of owning a house goes beyond the purchase price you must have insurance, pay taxes, and for regular maintenance. Ask your parents about these extra costs.

37 Financial Calculators Do you want a new or used car? Use the internet to find a car and use the auto loan calculator to figure out your payment. Remember the cost of owning a car goes beyond the purchase price you must have insurance, pay tag fees, pay for gas, and regular maintenance. Ask your parents about these extra costs.

38 Apply it This is individual work and it will be a test grade! 1. Use your yearly salary from salary.careerbuilder.com 2. Use the taxact.com website to find your tax bracket. 3. Subtract your taxes from your gross income to get your net income. 4. Divide your net income by 12 to get your monthly income. 5. Use you monthly income to create a monthly budget. Use the average monthly costs you have from your homework and the home and transportation costs you created for yourself. Your budget must end up in the black (money left over) bit.ly/qgtrwx https://www.taxact.com/tools/tax-bracket-calculator.asp

39 Reality Check

Standard 1: The student will describe the importance of earning an income and explain how to manage personal income using a budget.

Standard 1: The student will describe the importance of earning an income and explain how to manage personal income using a budget. STUDENT MODULE 1.4 EARNING AN INCOME PAGE 1 Standard 1: The student will describe the importance of earning an income and explain how to manage personal income using a budget. Managing Your Income Mickey

More information

Effective Strategies for Personal Money Management

Effective Strategies for Personal Money Management Effective Strategies for Personal Money Management The key to successful money management is developing and following a personal financial plan. Research has shown that people with a financial plan tend

More information

Account a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account.

Account a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account. Account a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account. Account fee the amount charged by a financial institution for the

More information

IMPROVING YOUR CREDIT AND DEBT

IMPROVING YOUR CREDIT AND DEBT IMPROVING YOUR CREDIT AND DEBT The Credit & Debt Problem Americans are loaded with credit-card debt. The average American household with at least one credit card has nearly $15,950 in credit-card debt

More information

Financial Planning. Introduction. Learning Objectives

Financial Planning. Introduction. Learning Objectives Financial Planning Introduction Financial Planning Learning Objectives Lesson 1 Budgeting: How to Live on Your Own and Not Move Home in a Week Prepare a budget and determine disposable income. Identify

More information

Make a Smart Start Toward Financial Success SUNY ORANGE STUDENTS

Make a Smart Start Toward Financial Success SUNY ORANGE STUDENTS Make a Smart Start Toward Financial Success SUNY ORANGE STUDENTS A College Education is a Smart Investment High School Graduate $25,000 Some College $30,000 Associate s Degree $32,000 Bachelor s Degree

More information

A financial statement captures a person s overall wealth at a specific point in time. In this lesson, students will:

A financial statement captures a person s overall wealth at a specific point in time. In this lesson, students will: PROJECT 3 CASH FLOW AND BALANCE SHEETS INSTRUCTOR OVERVIEW Financial statements are compilations of personal financial data that describe an individual s current financial condition. Financial statements

More information

A financial statement captures a person s overall wealth at a specific point in time. In this lesson, students will:

A financial statement captures a person s overall wealth at a specific point in time. In this lesson, students will: PROJECT 3 CASH FLOW AND BALANC E SHEETS INSTRUCTOR OVERVIEW Financial statements are compilations of personal financial data that describe an individual s current financial condition. Financial statements

More information

This Report has been prepared for: John & June

This Report has been prepared for: John & June Trader Makes $4 Billion Wiz Kid Stock & Option Trader Makes $4 Billion Trading Stock Options! Budget Reporting Software Discover Why BudgetPak Provides thebest Financial Reporting & Analysis Input Forms

More information

COMMON QUESTIONS ABOUT BANKRUPTCY

COMMON QUESTIONS ABOUT BANKRUPTCY SCUDDER G. STEVENS, P.A. ATTORNEYS AT LAW A PROFESSIONAL ASSOCIATION 120 North Union Street P.O. Box 1156 Kennett Square, PA 19348 (610) 444-9840 (800) 294-4242 FAX (610) 444-9841 COMMON QUESTIONS ABOUT

More information

Loan. Application. Money Smarts for Kids. Money Skills for Life. Member FDIC. What to Know About Loans. Completing a Loan Application

Loan. Application. Money Smarts for Kids. Money Skills for Life. Member FDIC. What to Know About Loans. Completing a Loan Application Loan Application What to Know About Loans What do I need to know about applying for a loan? A loan is used to help you pay for something that you want to buy, like a car, college tuition, school trip or

More information

WHAT BANKRUPTCY CAN T DO

WHAT BANKRUPTCY CAN T DO A decision to file for bankruptcy should only be made after determining that bankruptcy is the best way to deal with your financial problems. This brochure cannot explain every aspect of the bankruptcy

More information

Budgeting Made Easy Simple Step-by-Step Instructions to Help You Build an Accurate Household Budget

Budgeting Made Easy Simple Step-by-Step Instructions to Help You Build an Accurate Household Budget Budgeting Made Easy Simple Step-by-Step Instructions to Help You Build an Accurate Household Budget Why Budget? Staying in control of your finances is tough, but it s even harder when you try to keep everything

More information

Money Management Test - MoneyPower

Money Management Test - MoneyPower Money Management Test - MoneyPower Multiple Choice Identify the choice that best completes the statement or answers the question. 1. A person s debt ratio shows the relationship between debt and net worth.

More information

1 Tools for Financial Planning

1 Tools for Financial Planning PART 1 Tools for Financial Planning Chapter 2 Planning with Personal Financial Statements How to increase net cash flows in the near future How to increase net cash flows in the distant future Chapter

More information

3Budgeting: Keeping Track of Your Money

3Budgeting: Keeping Track of Your Money This sample chapter is for review purposes only. Copyright The Goodheart-Willcox Co., Inc. All rights reserved. 3Budgeting: Keeping Track of Your Money Chapter 3 Budgeting: Keeping Track of Your Money

More information

Money Management 101 - A Guide to Smart Budgeting

Money Management 101 - A Guide to Smart Budgeting Summit Branches are conveniently located in Rochester (8), Seneca Falls (1), Buffalo (2), Syracuse (5) and Cortland (2) Money Management 101 - A Guide to Smart Budgeting Presented by The Summit Federal

More information

Personal Money Management. Why and How we spend money and potential impacts to personal credit.

Personal Money Management. Why and How we spend money and potential impacts to personal credit. Personal Money Management Why and How we spend money and potential impacts to personal credit. Presentation Objectives Understanding Your Financial Personality Personal Credit Scores, impacts, tips, your

More information

Saving for a Residence or a Ride

Saving for a Residence or a Ride Saving for a Residence or a Ride Tami Noll Russo, CPA, CFP Noll Financial Services Middletown, Pa. Saving for a Residence or a Ride The Practical and Psychological Approach to Budgeting Saving for a Lump

More information

Using Credit to Your Advantage

Using Credit to Your Advantage Hands on Banking Using Credit to Your Advantage Credit Reports, Credit Scores and Dealing with Debt The Hands on Banking program is a free public service provided by Wells Fargo. You may also access the

More information

Lesson 13 Take Control of Debt: Become a Savvy Borrower

Lesson 13 Take Control of Debt: Become a Savvy Borrower Lesson 13 Take Control of Debt: Become a Savvy Borrower Lesson Description After reviewing the difference between term loans and revolving credit, students analyze a fictitious character s use of credit

More information

Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill

Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill 0 Chapter 3 Money Management Strategy What You ll Learn Section 3.1 Discuss the relationship between opportunity costs and money management. Explain the benefits of keeping financial records and documents.

More information

Using Credit to Your Advantage.

Using Credit to Your Advantage. Using Credit to Your Advantage. Topic Overview. The Using Credit To Your Advantage topic will provide participants with all the basic information they need to understand credit what it is and how to make

More information

Some statistics to consider

Some statistics to consider Overcoming Debt Some statistics to consider Average credit card debt per household - $15,788 (May 2010) College loans alone now total almost $830 billion (said another way, $830,000,000,000!) Credit card

More information

FINAL EXAM. True or False. Multiple Choice. 21. False 22. False 23. False KEY. 10. False. 24. True. 31. True. 4. False. 26. True 27. True 28.

FINAL EXAM. True or False. Multiple Choice. 21. False 22. False 23. False KEY. 10. False. 24. True. 31. True. 4. False. 26. True 27. True 28. FINAL EXAM KEY True or False 1. False 2. True 3. True 4. False 5. False 6. False 7. True 8. True 9. False 10. False 11. False 12. False 13. False 14. True 15. True 16. False 17. True 18. False 19. True

More information

Part 2 Test Questions

Part 2 Test Questions Module 1 1. To reach a financial goal you should a. Spend less than you make so you can save money to reach the goal. b. Borrow from family or friends. c. Depend on luck, like winning the lottery. d. Not

More information

Making a Budget and Sticking to It

Making a Budget and Sticking to It Budgeting and money management Making a Budget and Sticking to It Do you cringe when you hear the word budget? Sure, a budget involves a bit of work on your part, but the payoff is financial discipline

More information

GETTING A BUSINESS LOAN

GETTING A BUSINESS LOAN GETTING A BUSINESS LOAN With few exceptions, most businesses require an influx of cash now and then. Sometimes it is for maintaining growth; sometimes it is for maintaining the status quo. From where does

More information

Fun, engaging and effective. Aligned with national financial education and core curriculum requirements.

Fun, engaging and effective. Aligned with national financial education and core curriculum requirements. Building Your Financial Foundation Adult Level Curriculum - Instructors Guide Fun, engaging and effective. Aligned with national financial education and core curriculum requirements. Lessons on: Credit

More information

EDUCATIONAL BENEFITS GROUP Providing solutions to make college an affordable reality. Cash Flow Planning for College & Retirement

EDUCATIONAL BENEFITS GROUP Providing solutions to make college an affordable reality. Cash Flow Planning for College & Retirement EDUCATIONAL BENEFITS GROUP Providing solutions to make college an affordable reality Cash Flow Planning for College & Retirement Table of Contents Cash Flow Planning for College & Retirement Introduction

More information

Gas Money Gas isn t free. In fact, it s one of the largest expenses many people have each month.

Gas Money Gas isn t free. In fact, it s one of the largest expenses many people have each month. Gas Money Gas isn t free. In fact, it s one of the largest expenses many people have each month. For the sake of this project, let s say that you drive an average of 300 miles each week (300 x 4 = 1200

More information

Accounts payable Money which you owe to an individual or business for goods or services that have been received but not yet paid for.

Accounts payable Money which you owe to an individual or business for goods or services that have been received but not yet paid for. A Account A record of a business transaction. A contract arrangement, written or unwritten, to purchase and take delivery with payment to be made later as arranged. Accounts payable Money which you owe

More information

MONEY MANAGEMENT WORKBOOK

MONEY MANAGEMENT WORKBOOK MICHIGAN ENERGY ASSISTANCE PROGRAM MONEY MANAGEMENT WORKBOOK Life is a challenge. As the saying goes, just when you're about to make ends meet, someone moves the ends. While it can be a struggle to pay

More information

Your Money Matters! Financial Literacy Teacher Guide. Thanks to TD for helping us bring this resource to schools for free.

Your Money Matters! Financial Literacy Teacher Guide. Thanks to TD for helping us bring this resource to schools for free. Your Money Matters! Financial Literacy Teacher Guide 2 Table of Contents: Introduction...3 Toronto Star epaper...4 Financial Awareness Inventory...5 SPENDING To Spend or Not to Spend Activity...6 I Need

More information

Credit Repair Made Easy

Credit Repair Made Easy Credit Repair Made Easy A simple self help guide to credit repair By Don Troiano Introduction My name is Don Troiano and I spent over 15 years in the mortgage industry. Knowing how to guide customers in

More information

Assist. Financial Calculators. Technology Solutions. About Our Financial Calculators. Benefits of Financial Calculators. Getting Answers.

Assist. Financial Calculators. Technology Solutions. About Our Financial Calculators. Benefits of Financial Calculators. Getting Answers. Assist. Financial s Technology Solutions. About Our Financial s. Helping members with their financial planning should be a key function of every credit union s website. At Technology Solutions, we provide

More information

Math 101 Financial Project Fall 2013

Math 101 Financial Project Fall 2013 FORM C Name: Section: ZID: Math 101 Financial Project Fall 2013 Directions: Read these directions carefully! When was the last time you looked over your financial records? How many of you actually have

More information

Lesson 9 Take Control of Debt: Using Credit Wisely

Lesson 9 Take Control of Debt: Using Credit Wisely Lesson 9 Take Control of Debt: Use Credit Wisely Lesson Description In this lesson, students review the balance sheet (Lesson 1) and the budget worksheet (Lesson 2) and consider ways to use these two documents

More information

PNC Financial Education FINANCIAL OPS. Banking Solutions for Military Personnel. Credit: Self study Guide

PNC Financial Education FINANCIAL OPS. Banking Solutions for Military Personnel. Credit: Self study Guide PNC Financial Education FINANCIAL OPS Banking Solutions for Military Personnel Credit: Self study Guide Revision Date: 11/2012 PNC Financial Education:FINANCIAL OPS Understanding Credit We all have financial

More information

FINANCIAL ASSESSMENT FOR

FINANCIAL ASSESSMENT FOR FINANCIAL ASSESSMENT FOR Joe Sample Introduction BENEFIT OF FINANCIAL ASSESSMENTS The benefit of the financial assessment is to help you gather the facts so you can take an honest look at your finances.

More information

BALANCED MONEY WORKBOOK

BALANCED MONEY WORKBOOK BALANCED MONEY WORKBOOK 2 Why live in balance? Welcome to the balanced money approach to budgeting! Balance is a concept we hear a lot about eat a balanced diet, keep balance between work and the rest

More information

Welcome! Please Sign in and Fill out the forms: AARP Participant Agreement Student Information/Pre-Assessment

Welcome! Please Sign in and Fill out the forms: AARP Participant Agreement Student Information/Pre-Assessment Welcome! Please Sign in and Fill out the forms: AARP Participant Agreement Student Information/Pre-Assessment 1 Sponsored by and developed in collaboration with AARP FOUNDATION FINANCES 50+ TAKING CONTROL

More information

Understanding Your Finances

Understanding Your Finances Understanding Your Finances Getting a handle on your finances can be difficult, especially when you find yourself... Dealing with low credit scores, Living paycheck to paycheck, Not knowing where your

More information

Lesson Description. Texas Essential Knowledge and Skills (Target standards) Skills (Prerequisite standards) National Standards (Supporting standards)

Lesson Description. Texas Essential Knowledge and Skills (Target standards) Skills (Prerequisite standards) National Standards (Supporting standards) Lesson Description Students will analyze families finances to identify assets and liabilities. They will use this information to calculate the families net worth and learn the benefits of having a positive

More information

GREENPATH FINANCIAL WELLNESS SERIES

GREENPATH FINANCIAL WELLNESS SERIES GREENPATH FINANCIAL WELLNESS SERIES UNDERSTANDING YOUR CREDIT REPORT & SCORE Through financial knowledge and expertise, we provide high-quality products and services that enable people to enjoy a better

More information

Investing in unlisted property schemes?

Investing in unlisted property schemes? Investing in unlisted property schemes? Independent guide for investors about unlisted property schemes This guide is for you, whether you re an experienced investor or just starting out. Key tips from

More information

Agenda. 1. Assessing Your Situation A. 3 types of consumers B. Net Worth C. Net Cash Flow

Agenda. 1. Assessing Your Situation A. 3 types of consumers B. Net Worth C. Net Cash Flow 1 Agenda 1. Assessing Your Situation A. 3 types of consumers B. Net Worth C. Net Cash Flow 2. Revolving Credit A. Credit vs. Charge vs. Debit Cards B. Tips on Revolving Credit C. Home Equity Line Credit

More information

Credit 101. Learn how to get and keep your credit in shape! From Silverton Mortgage

Credit 101. Learn how to get and keep your credit in shape! From Silverton Mortgage Credit 101 Learn how to get and keep your credit in shape! From Silverton Mortgage Table of Contents What is a credit score? 2 Why is it important? 2 How is a credit score determined? 3 How can I see my

More information

The Road to Good. How to Start Building Your credit with In-House Auto Financing

The Road to Good. How to Start Building Your credit with In-House Auto Financing The Road to Good Credit: How to Start Building Your credit with In-House Auto Financing I. Introduction II. What is a credit score? III. How credit scores are calculated Payment history Amount of debt

More information

A Self-Made Millionaire's Guide to Dealing with Debt

A Self-Made Millionaire's Guide to Dealing with Debt A Self-Made Millionaire's Guide to Dealing with Debt By Mark Ford, wealth coach I had my first serious run-in with debt when I was 30 years old. My wife K and I were renting a condominium in Washington,

More information

Understanding Vehicle Financing

Understanding Vehicle Financing Understanding Vehicle Financing Understanding Vehicle Financing With prices averaging more than $31,000 for a new vehicle and $17,000 for a used model from a dealership, you might consider financing or

More information

Designing Your Budget

Designing Your Budget 2 Designing Your Budget Budgeting is needed to get the most mileage out of your income. It is your road map for managing your money. Planning your spending is called Budgeting. Smart investing@your library

More information

SMALL BUSINESS OWNER S HANDBOOK

SMALL BUSINESS OWNER S HANDBOOK SMALL BUSINESS OWNER S HANDBOOK PART II: FINANCIAL PLANNING FOR SMALL BUSINESSES Introduction Financial Planning Methods of Financing Your Business Other Types of Funds & Financing How to Approach Lenders

More information

Lesson 2: Savings and Financial Institution Knowledge Making the Most of Your Money

Lesson 2: Savings and Financial Institution Knowledge Making the Most of Your Money Lesson 2: Savings and Financial Institution Knowledge Making the Most of Your Money All the materials and information included in this presentation is provided for educational and illustrative purposes

More information

Remember the Interest

Remember the Interest STUDENT MODULE 7.1 BORROWING MONEY PAGE 1 Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money. Remember the Interest Mom, it is not fair. If Bill can

More information

Math 101 Financial Project Spring 2015

Math 101 Financial Project Spring 2015 FORM B Name: Section: Z-ID Math 101 Financial Project Spring 2015 Directions: Read these directions carefully! When was the last time you looked over your financial records? How many of you actually have

More information

LESSON 1 -- GETTING OUT OF DEBT

LESSON 1 -- GETTING OUT OF DEBT LESSON 1 -- GETTING OUT OF DEBT LESSON DESCRIPTION AND BACKGROUND This lesson uses the Better Money Habits video Steps to Help You Get Out of Debt (www.bettermoneyhabits.com) to explain the concept of

More information

How to Get Out of Debt & Build Wealth. Stephen T. Craig Bankruptcy Attorney Professional Debt Negotiator

How to Get Out of Debt & Build Wealth. Stephen T. Craig Bankruptcy Attorney Professional Debt Negotiator How to Get Out of Debt & Build Wealth Stephen T. Craig Bankruptcy Attorney Professional Debt Negotiator Psychology of Spending Intention- who am I trying to impress? Ask will this improve the quality of

More information

Names of all Co-owners w/ Address (if different)

Names of all Co-owners w/ Address (if different) Foreclosure Prevention Intake Form I. CLIENT INFORMATION Date: Name(s) Address Home Phone Work Phone Best Times to Reach Marital Status Spouse (if any) Children (names and ages) Others in Household: II.

More information

ANSWERS TO COMMON BANKRUPTCY QUESTIONS

ANSWERS TO COMMON BANKRUPTCY QUESTIONS Wayne Howell, PLLC ANSWERS TO COMMON BANKRUPTCY QUESTIONS A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. This

More information

Understanding Credit. Megan Stearns, Credit Counselor

Understanding Credit. Megan Stearns, Credit Counselor Understanding Credit Megan Stearns, Credit Counselor Obtaining your free credit report will lower your credit score. Closing old accounts can help your credit score. Paying off the balances on your credit

More information

Common Questions of Personal Bankruptcy

Common Questions of Personal Bankruptcy Common Questions of Personal Bankruptcy Here are a few common questions many have asked with the answers from our experienced bankruptcy attorneys. If you have any common questions, please call Amicus

More information

The Debt Elimination Roadmap

The Debt Elimination Roadmap The Debt Elimination Roadmap Thank you for taking advantage of this special offer and taking a serious look at your current financial situation. What you ll find, over time, is that you re now involved

More information

A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems.

A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. This booklet cannot explain every aspect of the bankruptcy

More information

Money Management Tools 1 Budgeting and Savings

Money Management Tools 1 Budgeting and Savings Hands on Banking Money Management Tools 1 Budgeting and Savings The Hands on Banking program is a free public service provided by Wells Fargo. You may also access the program anytime at www.handsonbanking.org

More information

Personal Financial Planning For Medical Residents

Personal Financial Planning For Medical Residents Personal Financial Planning For Medical Residents Matthew Lawson, M.D. What is personal financial planning? What is personal financial planning Is it Buying a house Paying for a car Purchasing stocks Paying

More information

Creating Wealth for NFL Players WHAT DOES MONEY MEAN TO YOU?

Creating Wealth for NFL Players WHAT DOES MONEY MEAN TO YOU? Creating Wealth for NFL Players WHAT DOES MONEY MEAN TO YOU? What Does Money Mean to You? The Reality of Money In the rap business you re only as good as your last hit, so count every dollar as if it were

More information

MEETING THE OREGON STATE STANDARDS FINANCIAL AVENUE CORE CONCEPT EARNING SPENDING SAVING BORROWING PROTECT

MEETING THE OREGON STATE STANDARDS FINANCIAL AVENUE CORE CONCEPT EARNING SPENDING SAVING BORROWING PROTECT MEETING THE OREGON STATE STANDARDS Financial Avenue provides online courses to help students gain important knowledge about the basics of personal money management. The Financial Avenue online financial

More information

Financial Maths - Life Skills. Budgeting UNIT. CfE Level 3 - Lesson Plan

Financial Maths - Life Skills. Budgeting UNIT. CfE Level 3 - Lesson Plan TeeJay Publishers Financial Maths - Life Skills Budgeting UNIT MNU 3.09b CfE Level 3 - Lesson Plan Produced for TeeJay Publishers by Pamela Fraser, Financial Education Training Officer, Dumfries & Galloway.

More information

Loan Lessons. The Low-Down on Loans, Interest and Keeping Your Head Above Water. Course Objectives Learn About:

Loan Lessons. The Low-Down on Loans, Interest and Keeping Your Head Above Water. Course Objectives Learn About: usbank.com/student financialgenius.usbank.com Course Objectives Learn About: Different Types of Loans How to Qualify for a Loan Different Types of Interest Loan Lessons The Low-Down on Loans, Interest

More information

Familiarize yourself with laws that authorize and regulate vehicle dealership financing and leasing.

Familiarize yourself with laws that authorize and regulate vehicle dealership financing and leasing. W ith prices averaging more than $28,000 for a new vehicle and $15,000 for a used vehicle, most consumers need financing or leasing to acquire a vehicle. In some cases, buyers use direct lending: they

More information

Raising Financially Responsible Teens. debt solutions education financial strategies

Raising Financially Responsible Teens. debt solutions education financial strategies Raising Financially Responsible Teens debt solutions education financial strategies Our Mandate To educate Canadians in personal money management and the wise use of credit To help individuals and families

More information

Office of Student Financial Management

Office of Student Financial Management February 2015 Office of Student Financial Management Kasia Palm: Director of Student Financial Management What is Credit? - The ability to obtain goods/services before payment based on the trust that a

More information

Renting vs. Owning a Home

Renting vs. Owning a Home 1.9.3.L1 Note taking guide Renting vs. Owning a Home Total Points Earned 30 Total Points Possible Percentage Name Date Class Housing is the largest personal expenditure Approximately of a person s income

More information

Money Management Planner - Financial Worksheets For Debt Relief

Money Management Planner - Financial Worksheets For Debt Relief Money Management Planner - Financial Worksheets For Debt Relief http://www.debtsteps.com These worksheets are only part of what you need to succeed with debt relief. Your commitment to manage your money,

More information

Financial Planning in Your 20s and 30s

Financial Planning in Your 20s and 30s Financial Planning in Your 20s and 30s Financial planning varies throughout the different stages of life. Older people are often focused on planning for a comfortable retirement, while younger people often

More information

Income, Expenses and Budget module

Income, Expenses and Budget module Income, Expenses and Budget module Trainer s introduction The skills to control your personal income, expenses and budget are the most basic tools that people need in their financial toolkit. But many

More information

Creating a Personal Financial Plan

Creating a Personal Financial Plan Creating a Personal Financial Plan Overview Setting goals are important and often used to measure success. However, simply setting goals does not ensure you will someday accomplish them. Achieving goals

More information

Mortgages and other money matters

Mortgages and other money matters Mortgages and other money matters 2 Buying a Home What about the money? The first thing most people think about when they want to buy a home is how much will it cost and where will I find the money for

More information

UNDERSTANDING WHERE YOU STAND. A Simple Guide to Your Company s Financial Statements

UNDERSTANDING WHERE YOU STAND. A Simple Guide to Your Company s Financial Statements UNDERSTANDING WHERE YOU STAND A Simple Guide to Your Company s Financial Statements Contents INTRODUCTION One statement cannot diagnose your company s financial health. Put several statements together

More information

Everything You Need to Know About Bankruptcy

Everything You Need to Know About Bankruptcy Everything You Need to Know About Bankruptcy Raymond J. Sallum Bloomfield, Michigan http://bloomfieldlawgroup.com/chapter-7-bankruptcy B l o o m f i e l d L a w G r o u p R a y m o n d J. S a l l u m (

More information

Please include a credit report fee of $17.95 for an individual applicant and $35.90 for joint applicants. (tax sale applicants are exempt ) Sincerely,

Please include a credit report fee of $17.95 for an individual applicant and $35.90 for joint applicants. (tax sale applicants are exempt ) Sincerely, Neighborhood Housing Services of Baltimore, Inc. 25 East 20 th Street, Suite 170, Baltimore, Maryland 21218 410) 327-1200 Fax (410) 505-1227 www.nhsbaltimore.org Dear Loan Applicant, Thank you for your

More information

Schedule C Line by Line. Self-Employment Tax Preparation Training

Schedule C Line by Line. Self-Employment Tax Preparation Training Schedule C Line by Line Self-Employment Tax Preparation Training Celebrating 39 years of providing free tax preparation and financial services to low and moderate income taxpayers in the Twin Cities and

More information

Following are 12 suggestions for getting yourself out of heavy debt-and making sure you don't fall back into it in the future.

Following are 12 suggestions for getting yourself out of heavy debt-and making sure you don't fall back into it in the future. TWELVE WAYS TO GET OUT OF SERIOUS DEBT Follow These Tips to Pay Off Loans and Get Back on Track ENGLEWOOD, COLORADO By most any measure, American consumers have incurred tremendous personal debt, bringing

More information

account statement a record of transactions in an account at a financial institution, usually provided each month

account statement a record of transactions in an account at a financial institution, usually provided each month GLOSSARY GLOSSARY Following are definitions for key words as they are used in the financial life skills resource. They may have different or additional meanings in other contexts. A account an arrangement

More information

K.2 Answers to Common Bankruptcy Questions

K.2 Answers to Common Bankruptcy Questions Adapted from Consumer Bankruptcy Law and Practice, 10 th Edition, National Consumer Law Center, copyright 2012. Used by permission. K.2 Answers to Common Bankruptcy Questions A decision to file for bankruptcy

More information

Financial Planning for Physicians

Financial Planning for Physicians Financial Planning for Physicians Harvard Medical School March 20, 2014 Presented by: Richard Sentnor 1 Introductions 8th year speaking at Harvard Focus: Residency to retirement Doctors all around the

More information

Money Management THEME

Money Management THEME THEME 3 Introduction Money Management Do you know people who handle money carelessly? Lots of seemingly smart people are clueless about where they stand financially. There is Beverly, a professional woman,

More information

How to Use Credit. Latino Community Credit Union & Latino Community Development Center

How to Use Credit. Latino Community Credit Union & Latino Community Development Center How to Use Credit Latino Community Credit Union & Latino Community Development Center How to Use Credit Latino Community Credit Union & the Latino Community Development Center www.latinoccu.org Copyright

More information

BankFirst Mortgage Services

BankFirst Mortgage Services BankFirst Mortgage Services Thank you for taking the time to educate yourself on your new mortgage loan. We understand that it is a difficult process for new home buyers. We ll be happy to answer any question

More information

Mortgage & Equity Release Guide

Mortgage & Equity Release Guide Edward Wilson Financial Services OVERVIEW Experience We have been advising clients since 1994, and have a wealth of experience for which there is no substitute. As an appointed representative of the Sesame

More information

DEBT CHECK-UP: ARE YOU AT RISK IF INTEREST RATES RISE?

DEBT CHECK-UP: ARE YOU AT RISK IF INTEREST RATES RISE? BUDGETING AND MONEY MANAGEMENT DEBT CHECK-UP: ARE YOU AT RISK IF INTEREST RATES RISE? Interest rates are at all-time lows in Canada, but they are likely to rise at some point. When they do, you can expect

More information

Personal Information - Client - Page 1. Employment. Education. Military Service. Children & Dependents

Personal Information - Client - Page 1. Employment. Education. Military Service. Children & Dependents Personal Information - Client - Page Date Mr. Mrs. Ms. First Name M.I. Last Name Birth Date Age S.S. Number Street Address City/Town Home Phone Cell Phone State/Zip Fax Email Address Employment Occupation

More information

Understanding Financial Statements. For Your Business

Understanding Financial Statements. For Your Business Understanding Financial Statements For Your Business Disclaimer The information provided is for informational purposes only, does not constitute legal advice or create an attorney-client relationship,

More information

RISK ASSESSMENT FOR SMALL BUSINESS. Terry S. Campbell, Community Development Officer Department of Development & Technology

RISK ASSESSMENT FOR SMALL BUSINESS. Terry S. Campbell, Community Development Officer Department of Development & Technology RISK ASSESSMENT FOR SMALL BUSINESS Terry S. Campbell, Community Development Officer Department of Development & Technology Date: March 25, 2004 1 Counseling Tool Outline - Cover Page - Outline - Introduction

More information

Personal Finance Standards (Assignment Code #22210)

Personal Finance Standards (Assignment Code #22210) Personal Finance Standards (Assignment Code #22210) Rationale Statement: A citizen that lives within his or her income has more control over his or her life while expanding choices. Having the knowledge

More information

Loan Lessons. The Low-Down on Loans, Interest and Keeping Your Head Above Water. Course Objectives Learn About:

Loan Lessons. The Low-Down on Loans, Interest and Keeping Your Head Above Water. Course Objectives Learn About: Loan Lessons Course Objectives Learn About: Different Types of Loans How to Qualify for a Loan Different Types of Interest The Low-Down on Loans, Interest and Keeping Your Head Above Water usbank.com/financialeducation

More information

Home Sweet Home: Purchasing a Place

Home Sweet Home: Purchasing a Place Home Sweet Home: Purchasing a Place LESSON 16: TEACHERS GUIDE Ask teens to describe their dream homes, and many will rattle off the features of the latest celebrity mansion they ve seen on TV: 10 bedrooms,

More information

Debt Freedom Plan. John and Mary Sample

Debt Freedom Plan. John and Mary Sample Debt Freedom Plan For August 1, 2015 Prepared by Money Tree Software 2430 NW Professional Dr. Corvallis, OR 97330 541.754.3701 Cover page text, cover page logo, and report headers are customizable. This

More information

CURRENT MONTHLY INCOME

CURRENT MONTHLY INCOME Client Questionnaire Section 1 - Basic Information Part A. Name and Address Name: Have you used any other names in the past eight years? No Yes If yes, please list other names used: Telephone Numbers\Email

More information