1 HOW and WHY to SAVE MONEY Distributed in furtherance of the acts of Congress of May 8 and June 30, Employment and program opportunities are offered to all people regardless of race, color, national origin, sex, age, or disability. North Carolina State University, North Carolina A&T State University, U.S. Department of Agriculture, and local governments cooperating. SAVING MONEY... means setting it aside deciding that you won t spend it now because you want to be able to use it in the future. Saving part of the money you receive is one of the most valuable habits you can cultivate. Once you understand how important it is to save money regularly (instead of spending everything and maybe borrowing more!), you may begin to save more money. If you are able to save enough money, you will be able to put some of these savings into appropriate investments. INVESTING MONEY... means putting it to work to protect and increase its future purchasing power. Simply setting money aside and failing to invest it (putting it under the mattress ) will cause it to lose value to inflation. This will not help you reach your long-term goals. Saving money is the surest path you can follow if you want to minimize financial problems, both today and in the future. Even very small children can be taught not to spend every penny as soon as they get it, and to put some of their money in a piggy bank so that it will be there when they want or need it. A penny saved is a penny earned is still a valuable lesson. But most young people do not learn the importance of saving. Their families may not have the motivation and self-discipline to plan for spending and saving. Parents may lack the knowledge and shopping skills needed to spend less and save more. They may be vulnerable to the tactics used in advertising and store displays that tempt them to buy things they don t need using money that they could have saved, money they will want or need for something else tomorrow. Many surveys document the low priority that Americans give to saving money regularly. Even though some of these studies ignore the forced savings of Social Security and certain employer retirement plans, the fact remains that many Americans do not set aside much money from their take-home pay--do not, in fact, choose to save money. Saving money has steadily declined in this country over the past 50 years while borrowing has increased. In 1950, savings averaged 12.3 percent of national output. By the 1960s, it was down to 8.5 percent; by the 1980s, it was 4.7 percent; and in the early 1990s, it was only 2.4 percent. A Merrill Lynch survey in 1993 found that half of all American families had less than $1,000 in net financial assets. Consumer installment debt reached a record $118 billion during 1994, accounting for 17.8 percent of disposable income, or 20 percent if auto leases and home equity loans are included. While government policymakers, academics, and the banking-business community do not agree on any one explanation, they do agree that this trend is serious. If you did not acquire the savings habit while you were growing up, now is the time to begin to develop that habit. Set aside a goal to pay yourself first to plan and manage your spending so that you will be able to save. Begin by saving a small amount, but save it faithfully.
2 Gradually increase the percent of your income that you save. Over time, try to set aside enough savings to meet each of these needs: day-to-day living expenses (including debt repayments); common emergencies; large recurring expenses; short-term goals; long-term goals; and special opportunities or circumstances that would require substantial sums of money in the future. Create a budget, keep records, and make necessary adjustments in your spending and saving plan. Saving Money at Each Stage of Financial Management Let s look at financial management as a lifelong challenge as a series of tasks you will master one by one, and then move on to the next stage. Saving money is essential at each stage. BASIC INTERMEDIATE COMPREHENSIVE Continue budgeting, keeping records, and adjusting plan. PLUS Increase savings and insurance protection. Continue budgeting, keeping records, and adjusting plan. PLUS Continue with more savings and insurance. PLUS Increase savings to permit investments for long-term needs and other goals. Basic Stage of Financial Management Basic money management is a process in which you: 1. Plan the ways you intend to use your money and access to credit creating a flexible budget to guide your spending, saving, and borrowing; 2. Keep track of the ways you actually use both cash and credit; and 3. Adjust your spending and saving plan to help you achieve more of your day-to-day financial goals. (See Extension publication HE-345, Making a Budget & Making it Work!) In the beginning, try to set aside at least a little money, in a checking account or other system that is safe from fire, theft, or temptation to make sure there is enough money each month to pay all your bills and meet your family s basic needs. Then begin setting aside a little more money regularly (say, in a savings account that earns interest) for a rainy day or emergency fund for such things as car repairs or medical bills. Try to set aside enough each month to cover predictable periodic expenses, such as insurance premiums, taxes, and gifts. Intermediate Stage of Financial Management Budgeting, keeping records, and making adjustments are a lifelong challenge, not something you stop doing once you master the basic money management process. Whenever you can, increase the amount you save setting aside additional amounts of money for selected investments and various types of insurance. (See Extension publication HE-274-1, Financial Risk Management, and other publications on insurance.) As soon as you are comfortable with the budgeting process, try to increase the amount of money you set aside regularly, placing it in insured, interest-bearing accounts or other safe, easily accessible investments. Learn how to make informed decisions about insurance to reduce your financial risk from accidents, fire, theft, and other insurable losses. Keep up with the public policy debate on health care and health insurance, and make informed decisions about health insurance and potential out-of-pocket health care costs. Plan to use some of your increased savings for short-term financial goals, such as a car, an educational opportunity, or a vacation. Keep building your emergency fund to tide you over in case of a more serious event, such as losing your job. Such an emergency may cause a financial setback, but try to begin saving regularly again as soon as possible.
3 Comprehensive Stage of Financial Management Basic money management remains the foundation for even the most advanced stage of financial management, which requires a still higher level of savings that you will put to work in appropriate long-term investments. (See Extension publication AG-390, A Guide to Investing for North Carolinians.) When your emergency fund has reached a level you are comfortable with (say, enough for several months' living expenses), you are ready to begin investing some of your savings in new ways to reach future financial goals. The earlier you begin investing even a small amount of money, the more quickly its value can grow. It is very difficult for most teenagers to think seriously about some of the things they may need or want in the future to understand that many of their duties and dreams will require more money than income from their job will provide. But setting aside money for thoughtful investments is one of the most important goals a person can set for himself. (Social Security and a company pension plan should not be viewed as adequate, reliable sources of retirement income.) Young people deserve to be taught that they can prepare for most of their future financial needs if they begin saving and investing while they are young. However, there is a definite trend or pattern in saving and investing that most families follow. Even though the greatest financial security comes to those who save enough to invest while young, this is very difficult for most families to do. Try not to let the costs of setting up a household and having children in your 20s and 30s cause undue concern. But do make every effort to launch a serious saving and investment program during your 40s and 50s. Waiting too long to plan for the costs of a house or college, for out-of-pocket health care costs, for retirement, and possible long-term care will have serious emotional as well as financial costs. How to Begin Saving And to Increase Your Savings Developing a plan for saving is the first step. In the beginning, the amount is less important than the fact of saving regularly. If you look at the amount your decide to save each week or month as an obligation, such as a debt payment, the idea of paying yourself first can become a serious commitment. Begin with an amount that you are sure you can set aside so that you build a sense of accomplishment rather than frustration. 1. Decide on a realistic amount to save. If your income varies or is seasonal, select an achievable amount for each month and try to save that amount. Set up a Monthly Savings Plan, as in the form on the next page, to help you decide how much to set aside each month. 2. Follow your plan, save regularly, and increase your savings whenever you can. Think of your planned savings as a fixed obligation and set this money aside before paying other bills. (Use envelopes, an interest-bearing checking account, a savings account, or other appropriate investments that will ensure that the money is available when you want or need it.) Practice careful shopping and resist impulse buying so that you are able to live on the amount of money that is left after paying yourself first. If your employer permits payroll deductions for savings, this might make it easier for you to save the amount of money you need to reach your goals. 3. Periodically review your progress toward your goals. Adjust the amount you save as old financial goals are met and new ones are set. If you receive a gift of money, an increase in salary, a tax refund or other windfall of extra cash, apply as much of this new money as possible to your savings goals, rather than spending it all on things that are not as important to you.
4 Monthly Savings Plan Average monthly take-home pay or living allowance $ Amount Amount Purposes for Saving Needed To Save 1. Meet bills, loan payments 2. Emergency fund 3. Recurring expenses (list) 4. Financial goals Short-term (list goals for next few years) Long-term (list goals for future needs and wants) 5. Special opportunities (list) Totals Complete the Amount Needed column first. To meet bills and debt payments that come due each month, first calculate the typical amount of money required. Then estimate the amount of money that is not due at the beginning of a pay period but must be set aside so that the bills can be paid on time. (There is no law that says you have 30 days before a bill is due. You must check to see when each bill or debt payment is due, and you risk a bad credit rating if your payments are late.) Challenge yourself not to spend the money you will need for bills that arrive and are due between paychecks. (See Extension publication HE-400-3, Organizing Personal or Family Filing Systems and Procedures, for ideas on getting organized to pay bills, and get in the habit of scheduling time to review your bills and budget once a week, or at least twice a month.) For emergency fund needs, try to set aside at least 5 percent of your take-home pay or living allowance, working toward a goal of saving 10 percent. Build and maintain an emergency fund equal to three to six months of your salary. Three months salary may be adequate if you have resources such as: assets that can be converted to cash without loss; paid sick leave; and adequate insurance coverage. If you do not have these resources, keep saving to build a larger emergency fund. For your recurring expenses, such as taxes or insurance premiums, estimate how much to set aside each month to meet those expenses. You might also include money for holiday and gift giving as a recurring expense. List your financial goals. Write down the cost of each goal, the date you would like to reach that goal, and the amount of money you would have to save (and invest) each month to reach the goal. Study your list and select the short-term and long-term goals that are most important to you, and are realistic goals to work toward. Under special opportunities, list other uses for which you want savings (and investments), and write down the amount of money needed for each. (Remember that you will need more than today s cost for opportunities in the distant future because of inflation. If you invest wisely, the value of your money will not only keep up with inflation but will increase at a faster rate than inflation. Also remember that you must pay taxes on the earnings of many investments, and you will need reliable investment advice.) Total the money needed each month to reach these goals. Complete the Amount to Save column. Begin with Meet Bills, and enter the amount of money you can set aside at the beginning of the month to meet the bills that come due during the month. Enter the amount you can save for items 2-5 in your savings plan. Total the amount of money you believe you can save. Compare the totals for Amount Needed and Amount to Save. If the sum you would need to save is greater than the amount you can save, try to figure ways to cut other expenses and increase your monthly savings. If you still cannot set aside enough savings for the goals you ve chosen, study your list carefully and decide which goals to drop or delay so that the amount to be saved each month is possible. Guard against borrowing money or charging unplanned purchases. If you are not able to save the money required to buy these unplanned purchases outright, will you have the extra amount needed for additional credit payments?
5 Learning to Live on Less than You Earn Saving money may seem difficult at first because we want so much and we want it now. Saving instead of spending is always a trade-off. You must deny yourself something you want today in order to provide the money you will want or need tomorrow. Just as credit is a delayed expense, think about saving as delayed spending. How can your improve your ability to no when you re tempted to use too much cash and credit today? Try some of these tips for making more money available for saving. 1. Consider which of the things that you want to buy are not really needs, and decide to do without some of these wants. Remember the old saying, Use it up, wear it out, make it do, or do without. 2. Plan your purchases for each pay period and then buy the true necessities first. If something in your budget costs less than you expect it to, put the amount of money you didn t have to spend into your savings! 3. Think about the brands you buy and where you shop. Much of what you spend goes for costly advertising budgets and overhead costs due to store location and decoration. Would less expensive or generic brands meet your needs? Does the product have to be new? Do other stores carry the same items but charge less? 4. Think about and practice ways to cut spending (which will let your increase your savings), such as reducing: meals eaten out; auto trips; use of credit cards for small items; high-cost brand name products; and clothes that require ongoing, expensive care. Remember the saying, Waste not, want not. 5. Reducing household waste will also reduce costs and permit more savings. Don t buy things you don t need. Choose items without unnecessary, expensive packaging. Select items that can be used again and are made well enough to last a long time. Choose items that can be recycled and then recycle them. Buy things that have been made from recycled items, to close the recycling loop. 6. Decide upon a reasonable amount of personal money for each family member so that everyone has a little money to spend or save as they choose. This can be an emotional safety valve and reduce the temptations of impulse spending. 7. Wait for and take advantage of genuine sales, especially for expensive items. This means using savings for a true bargain something you need and would buy anyway. Getting such as item at a reduced price will permit you to save the difference between the regular price and the sale price. But if you buy something you don t need and can t afford just because it s on sale, you are not saving money. You are simply spending more money than you had planned to and reducing the amount you can save. 8. Return faulty products and get your money back. (Of course, you will also save money if you learn how to judge the quality of different types of consumer products and reduce the number of unsatisfactory purchases.) 9. Read the directions before using a consumer product so that you don t cause a problem, wasting money to replace items you damaged. 10. Take care of products so that they last a long time and don t have to be replaced so often. 11. Consider using free time and abilities to earn extra money or to provide goods and services for your family that will reduce the cost of living in costeffective ways. 12. Take care of your health and follow good safety practices. More than half of all health care expenses are caused by lifestyle choices things eaten or ingested, avoidable accidents, lack of exercise. Health care and health insurance are too expensive to use in a casual, wasteful manner. By avoiding or at least reducing those costs, you will free up money for other things you want and need in the future. 13. If you need to purchase services you are not familiar with, get information about the service and try to get personal recommendations of persons or companies with a good reputation. Be sure you understand the terms of any agreement you sign. 14. Save money on insurance by insuring only against large losses. You can reduce your premiums with a larger deductible. If you save and invest the money saved through lower premiums, you may be able to pay future deductibles.
6 15. Put the money that you work so hard to earn to work for you. Putting even small amounts of savings into appropriate types of investments can demonstrate the truth of the saying that it takes money to make money. Pay attention to such things as minimum deposits, and avoid unnecessary charges for interestbearing accounts. Read the small print and avoid accounts that would penalize you if you plan to withdraw money more often or sooner than the account permits. Learning about Long-Term Investing Choosing how and where to make long-term investments can be confusing. Numerous financial products are available from a variety of financial service institutions, and other investment options are available from many different sources. No one investment product is best for everyone. And because economic, political, and market changes constantly influence the yield, safety, liquidity, inflation, and tax aspects of any investment, you will need to do some research and shop around before making investment decisions. (See Extension publication AG-390, A Guide to Investing for North Carolinians.) Summary Saving money is essential if you want to achieve both small and large financial goals. Try to develop the saving habit, and increase the amount you save by careful planning and shopping. It is also important to make wise investments to protect your financial resources and improve your future financial security. Consider your temperament and your needs for yield, safety, and liquidity. Diversify your investments to reduce the risks. Be cautious in choosing financial advisers. Make sure the people you trust with your money have a record of competence and service. Be sure they understand the effects of inflation and taxes on an investment plan, and keep up to date with changes in marketplace options and public policy. Remember that there are many unscrupulous con artists in this world who gain consumer confidence and convince people to give away their savings in telemarketing and other fraudulent schemes. No one can protect us from our own bad judgment. Each of us is responsible for becoming well-informed and for making thoughtful decisions that improve our prospects for financial security. References High School Financial Planning Program--Instructor s Guide, Supplemental Materials and Student Workbook. National Endowment for Financial Education Lloyd, Janice Holm. Making a Budget & Making It Work!, HE-345. North Carolina Cooperative Extension Service Lloyd, Janice Holm. Organizing Personal or Family Filing Systems & Procedures, HE North Carolina Cooperative Extension Service O Neill, Barbara. Saving on a Shoestring: How to Cut Expenses, Reduce Debt, Stash More Cash. Dearborn Financial Publishing, Inc A Primer on Personal Money Management for Midlife and Older Women. American Association of Retired Persons Walden, Michael L. Economics and Consumer Decisions. Prentice Hall Walden, Michael A. A Guide to Investing for North Carolinians. AG-390. North Carolina Cooperative Extension Service Prepared by Janice Holm Lloyd, Extension Family Resource Management Specialist 5,000 copies of this public document were printed at a cost of $XXX, or $.XX per copy. Published by NORTH CAROLINA COOPERATIVE EXTENSION SERVICE 5/95 5M JMG HE-450
A HOME FOR YOUR FAMILY 7 Budgeting for Home Ownership Perhaps you are just beginning to think about buying a home sometime in the future. Or maybe you have already found a home you would like to buy. Whether
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
Dimes to Riches Money Management for Teens in Grades 7-12 s e e r t n o row g t n s e o yd e n o M t a! h k t n a w b o n a k t u n By now yo Your parents are & Life is getting busy and you need cash for
SAVING MATTERS If you re looking for ways to save your money, this guide explains some of the things you need to consider. We hope you find this guide useful as a first step in your research before deciding
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
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
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,
For Kupuna: 15 Quick Tips for Protecting Your Finances As many consumers get older, they often face issues such as how to maintain their lifestyle and pay for medical expenses on a fixed income for years
FCS5204 1 Adapted by Josephine Turner and Michael Gutter 2 Overview Families today are faced with a financial puzzle. In addition to stretching their income from one paycheck to the next, they face the
USING CREDIT WISELY AFTER BANKRUPTCY Copyright April 2011, Legal Aid Society of Hawai`i All rights reserved. These materials may be reproduced. However, under no circumstances are persons receiving these
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
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
Managing Your Money: Where Do I Begin? Circular 591 Revised by Fahzy Abdul-Rahman 1 Cooperative Extension Service College of Agricultural, Consumer and Environmental Sciences INTRODUCTION Wouldn t it be
Table of Contents Checking In... 3 Pre-Test... 4 What Is Credit?... 6 Collateral... 6 Types of Loans... 7 Activity 1: Which Loan Is Best?... 8 The Cost of Credit... 9 Activity 2: Borrowing Money Responsibly...
PLANNING CHAPTER 4 Planning for Tomorrow When you graduate from college, you most likely will feel a huge sense of relief. You also may feel pride in accomplishing your goals and a tremendous freedom and
Welcome again to the Public Awareness column provided by the Reserve Bank of Fiji (RBF). This month s article focuses on borrowing money and managing that credit. We also provide some issues you should
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.
Understanding Investment Leverage Understanding Investment Leverage What is investment leverage? Each year, more and more Canadians are taking advantage of a simple yet powerful wealthcreation strategy
Budgeting: Managing Your Money with a Spending Plan Budgeting: Managing Your Money with a Spending Plan Are you making the best use of your money? Do you have a handle on how much comes in each month and
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
Prepared by the National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association of state insurance regulatory officials. This association helps the
No matter who you are, making informed decisions about what to do with your money will help build a more stable financial future for you and your family. Alan Greenspan There s a Lot to Learn about Money
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
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
LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.
Your money color will help you understand what you value when it comes to money. It will also help you understand why you use or fail to use money a certain way. Read each statement and respond according
saving for your future Saving Money to Reach Your Financial Goals F I N A N C I A L M E N T O R I N G P R O G R A M IN THIS MODULE YOU WILL LEARN HOW TO: Create short, intermediate, and long-term savings
Life Insurance Buyer s Guide This guide can show you how to save money when you shop for life insurance. It helps you to: - Decide how much life insurance you should buy, - Decide what kind of life insurance
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
Buyer Buyer s Guide to: s Guide to: Fixed Deferred Annuities Prepared by the Prepared by the National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association
Money and the Single Parent Apprisen 800.355.2227 www.apprisen.com Money and the Single Parent Being a single parent is not easy. As a matter of fact, it is really hard. Single parents are stretched in
In This Issue pg. 01 pg. 03 pg. 05 pg. 07 6 Tips toward financial independence Learn strategies for taking command of personal finances and long-term financial goals. Get motivated to save for retirement
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
WELCOME TO MIKE ROGERSON.CO.UK ESTATE AGENTS SURVEYORS LETTINGS MANGEMENT MIKE ROGERSON MORTGAGES4REAL LIMITED We know that taking out a mortgage will probably be the biggest financial commitment you can
Chapter 3 Creating Your Financial Plan Chapter 3 helps you create a spending and savings plan. In Chapter 2 you set your goal and estimated how much you need to save each month and for how long to achieve
LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.
Life Insurance Buyer s Guide This guide can help you when you shop for life insurance. It discusses how to: Find a Policy The Meets Your Needs and Fits Your Budget Decide How Much Insurance You Need Make
Managing Your Money: A Family Plan Managing Your Money: A Family Plan Everyone wants enough money to live on. Many people feel they need more. Use money to help get what you want by the following: making
DIVISION OF AGRICULTURE R E S E A R C H & E X T E N S I O N University of Arkansas System United States Department of Agriculture, University of Arkansas, and County Governments Cooperating Money Saving
Don t Become a Victim Life Smarts: 1. Determine the federal laws that assist consumers from becoming victims of predatory lending. What is predatory lending? Predatory lending is the unfair, deceptive,
Disability Income Insurance Client Highlights Designing an Income Protection Plan DI 1071 12/11 Disability Income Insurance What is your greatest asset: Your home? Your Business? They are both vital to
Pacemaker Practical Mathematics Correlated To South Carolina Curriculum Standards For More Information Contact Marc Callahan, Sales Support 800-435-3499 ext: 7719 Practical Mathematics Unit One On Your
Money Management Basics The feeling that you have control over your finances is one of the greatest satisfactions you can have in life. On the other hand, worrying about digging your way out of debt, or
NORTH DAKOTA PERSONAL FINANCE EDUCATION Making and Living Within a Budget Leader Guide Learner Objectives Students will: Understand how to organize personal fi nances and use a budget to manage cash fl
A brief guide to Financial Planningplanning Guide financial Table of Contents Financial Planning The Process of Financial Planning Why do I need a Financial Plan? Do I need a Financial Advisor? Tips to
Guide to planning for your financial future When you first start out in your career you might be thinking about paying back student debt, taking trips abroad or buying a car. And in a few years time, you
Personal Credit Conserving your wealth City of Seattle September 12, 2007 Workshop Handout Alice Jenkins Bellevue Community College email@example.com www.bellevuecollege.edu/financialeducation
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
Build a Basic Budget: The Five-Step Spending Plan Brought to you by: DUKE UNIVERSITY FEDERAL CREDIT UNION Ask yourself: Do you Spend more than you make? Live beyond your means? Pay yourself last? Charge
Disability Income Insurance Client Highlights Designing an income protection plan The Union Central Life Insurance Company DI 1071 5/07 Disability Income Insurance What is your greatest asset: Your home?
TEEN GUIDE moneytalks4teens.org Should I Be Listening? My Money Personality What does money mean to you? Independence? Power? Fame? Stuff? Discover your Money Personality inside. Publication 8272 Surprise
Bankwest s Loans for just about everything I could use a holiday. Happy Banking What do you need money for? Are you thinking about a new car or starting home renovations? Perhaps a holiday on a tropical
Savings 2 MONEY MATTERS The BIG Idea What strategies will help me reach my savings goals? AGENDA Approx. 45 minutes I. Warm Up (10 minutes) II. Saving Tips (10 minutes) III. Opportunity Costs (15 minutes)
5 STEPS TO TAKE CONTROL OF YOUR FINANCIAL SECURITY What would it take for you to feel financially secure? A more stable job? Being debt free? Having millions in the bank? No matter how it s defined, we
Getting to know your CUNY retirement plan It s About You If you re the independent type, you can do your own thing. If you want some help, tools are available to assist you. Confused about investing and
20 Steps to Financial Health: Achieving Lifelong Financial Fitness American Consumer Credit Counseling 130 Rumford Avenue Auburndale, MA 02466 1.800.769.3571 ConsumerCredit.com On behalf of American Consumer
LIFE AND PROTECTION INSURANCE EXPLAINED INTRODUCTION Most of us would like to think that when our lives come to an end, we ll be old, our loved ones will be financially secure and our financial responsibilities
Retirement: Get Ready...1 Why planning makes sense...1 Where are you?...2 Getting Started: 20 s and early 30 s...3 On Your Way: Mid-30 s to early 40 s...4 Crunch Time: Mid-40 s to early 50 s...5 Just Around
Life insurance protects your financial future. It provides the resources your family or business may need to pay immediate and continuing expenses when you die. What You should Know About Buying Life Insurance
Financial Planning and Your Small Business FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT
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.
Financial Milestones: Retirement planning. Tips for every stage of life. Retirement by the numbers. Retirement planning is a journey. And the sooner you start, the easier it is. But whether you re in your
SAVINGS BASICS101 TM i This book is intended as a general guide to the topics discussed, and it does not deliver accounting, personal finance, or legal advice. It is not intended, and should not be used,
YOUR MONEY, YOUR GOALS A financial empowerment toolkit for community volunteers Consumer Financial Protection Bureau April 2015 Table of contents INTRODUCTION PART 1: Volunteers and financial empowerment...
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
for independent information mortgages made easy About us We are an independent watchdog set up by the Government to: regulate firms that provide financial services; and help you make informed decisions
Organizing Your Finances After Your Spouse Has Died Page 1 of 7, see disclaimer on final page Organizing Your Finances After Your Spouse Has Died What is it? Even if you've always handled your family's
Credit Cards The Basics. Do you understand what credit is and how to use it wisely? Like many of today's teenagers and college students, you appreciate the convenience and relative safety of credit cards.
Planning for the Stages of Retirement The Financial Planning Association (FPA ) connects those who need, support and deliver financial planning. We believe that everyone is entitled to objective advice
Dealing With Your Banker & Other Lenders Your financing The success or failure of your business will depend on whether or not you have enough capital to: buy the equipment and inventory you need; pay overhead
Managing mortality risk with life insurance diversification Diversification is an important strategy for mitigating investment loss by selectively combining noncorrelated assets in an investment portfolio.
Lisa Croat and Andrea Clark Lunch provided by the Higher One Financial Literacy Counts Grant Overview Develop a plan Understand financial aid Be a responsible borrower Take charge of credit cards Understand
Keeping up with mortgage repayments This information is an extract from the booklet Housing costs, which is part of our Financial guidance series. You may find the full booklet helpful. We can send you
Life Insurance Buyer s Guide This guide can help you when you shop for life insurance. It discusses how to: Find a policy That Meets Your Needs and Fits Your Budget Decide How Much Insurance You Need Make
Pensions made simple Take control of your future MIND THE GAP PENSIONS MADE SIMPLE FROM AVIVA Contents Page 1 First things first 2 2 Why pensions are so important 4 3 How a pension plan works 8 4 The tax
MAKE FINANCIAL FITNESS HAPPEN 3 UNIT 6 INTRODUCTION TO NEDBANK INSURANCE AND ASSURANCE PRODUCTS At the end of this unit, you will: understand the difference between insurance and assurance; and understand
Financial Planning and Your Small Business The Financial Planning Association (FPA ) is the leadership and advocacy organization connecting those who provide, support, and benefit from professional financial
Taxes Read Chapter 4 in the text. Read Chapter 7 of The Financial Checkup. Read this unit including websites. You may want to take your own notes. Are taxes your favorite topic? They are not the favorite
Loan To Own Welcome 1. Agenda 2. Ground Rules 3. Introductions Loan To Own 2 Objectives Identify various types of installment loans Identify the factors lenders use to make home loan decisions Identify
Shedding light on Life insurance a practical guide to helping you achieve a lifetime of financial security Learn more about: Safeguarding your loved ones Protecting your future Ensuring your dreams live
The Importance of Good Credit 1 Introduction The importance of good credit What is credit? The importance of credit history when applying for a loan How to build and maintain good credit Credit and its
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
Teacher's Guide $ Lesson Eight Cars and Loans 01/11 cars and loans websites websites for cars and loans The internet is probably the most extensive and dynamic source of information in our society. The
HOW TO SAVE FOR YOUR FUTURE a guide for financial security Save for your future. Choose to Save is designed to encourage Americans to take four basic steps to secure their financial future: 1 Calculate
Quick Response Explain how you think credit cards work. How much do you have to pay every month? What happens if you pay late? What kinds of fees are involved? Unit 4 - Good Debt, Bad Debt: Using Credit
Personal Loans 101: Understanding APR Everyone needs access to affordable credit, whether it is to make a small purchase, pay for an unexpected emergency, repair their car or obtain a mortgage on their
Money & Finance I. UNIT OVERVIEW & PURPOSE: The purpose of this unit is for students to learn how savings accounts, annuities, loans, and credit cards work. All students need a basic understanding of how
n adding to the family baby two,three makes more. or and n adding to the family What s the best way to have a baby or add a child to the family? By planning... financially planning that is. Whether you