Welcome to our webinar!  Here are some directions for you…  When you first join a session, the Control Panel appears on the right side of your screen. Use the Control Panel to manage your session. To free up space on your desktop, you can collapse the Control Panel and use the Grab Tab to continue to manage your session.  Grab Tab: From the Grab Tab, you can hide the Control Panel, mute yourself (if you have been unmuted by the organizer), view the webinar in full screen and raise your hand. Audio Pane: Use the Audio pane to switch between Telephone and Mic & Speakers.  Questions Pane: Ask questions for the staff. If you have any questions during a webinar, you can enter your questions into the Questions pane for the organizer or panelists to answer. 1. Type your question into the Questions pane and click Send. The organizer can choose to answer the question themselves or to assign the question to panelists to answer.  Customer view of handouts (Windows and Mac)  If there are any handouts uploaded to a webinar, attendees will see a Handouts pane in their Control Panel. They can click the name of a handout to access it. Note: there are handouts for this webinar!  Their default web browser will automatically launch and open a blank page, and the handout file will automatically start downloading.  Attendees can then click the downloaded file to open or save it.

Money Matters Presented by The Solutions Group

Goals for Today  Identify personal money management goals  Set up a budget to continue using  Learn what to do if your money situation is out of control.

Money Management Goals 1. What do you want to be, do, or have? 2. How would that enhance your life? 3. How will that add to your confidence, self esteem, pride, happiness, peace of mind…?

Money Management Quiz Yes or No?  I know how much income I have every month, and I know how much I spend every month.

Retirement? I have calculated the amount of money I need to save for a comfortable retirement.

More Quiz Items  I have a savings target for the year.  I know what % of my savings target I have achieved.

High Finance!  I know my debt/asset ratio. Take poll.

A Few More Quiz Items 1. My regularly recurring bills are paid in full every month. 2. I have a reserve of cash for emergencies. 3. I have saved enough to cover 3-6 months’ expenses.

Why do I need a budget?  Knowledge is power!  Make informed decisions  Prepare for change  Enjoy using your money!

Yes – You Do Need a Budget  Refer to handout for sample design  Set up on paper or in an electronic spreadsheet  Basic idea – know what money is coming in and what is going out “The truth will set you free!”

Credit and credit cards – who’s in control?  What are your rules about using credit?  Using credit wisely  Knowing about Credit Card Reform  Monitoring your credit use

Rules for using credit  Charge only what you can afford!  You have cash in the bank to cover the purchase.  You can’t afford the item or service, but you need it right away (example – car repairs).

Don’t charge it  You don’t have enough cash to cover the purchase, and it is not an emergency.  It won’t exist when the bill comes (a meal, groceries, etc).

Highlights from Credit Card Reform Act of 2009  Limited interest rate hikes  Limited universal default  The right to opt out  Limited credit to young adults

Credit Charges?  I know the interest rates for my credit cards.  I know the interest rates for my savings and checking accounts.

What’s a credit score?  A credit score is the result of a mathematical formula that uses the information in your credit file, such as how well you have paid your bills in the past, to calculate how likely you are to pay your bills in the future.

What’s in your credit report?  One free credit report every 12 months from the 3 credit reporting agencies: Experian, Equifax, and TransUnion.  Authorized by Federal law.  Do NOT pay for credit report! 

Comparisons  If you need to compare interest rates for credit cards, banks, and more – go to the site  Interest rate information on CDs, savings & money market accounts, and different credit cards  Savings Calculator, Bank Ratings, and Calculators for loans, etc.  Tips on preventing identity theft

Are you credit worthy?  Employment record  Home owner & length of time  Few credit cards  Reasonable debts & credit lines  Work in a “steady” field

Watch out for companies that promise to clean up your credit record!  The company asks for money up front and charges you before they've performed their services.  The company guarantees to remove late payments, bankruptcies, or similar information from a credit report.  The company charges a lot of money to repair credit.  The company asks you to write to the credit reporting company to verify the same credit account information in the file, over and over, even after the information has been determined to be correct.  The company doesn't want to or can't provide a business address.  The company pushes you to decide to engage them right away.

Identity theft clues  Credit card charges that you don't recognize  Calls or letters about things you didn't buy  Bills that arrive on unusual days  New credit cards or statements for accounts that you didn't open  Denials of credit for no apparent reason  Information on your credit reports you don't recognize, such as accounts or addresses

Personal traits and your finances  Patience  Satisfaction  Organization  Discipline  Reflectiveness

More personal traits…  Creativity  Curiosity  Risk-taking  Goal-oriented  Hard Working and Smart Working

Your Goals Revisited 1. What do you want to be, do, or have? 2. How would that enhance your life? 3. How will that add to your confidence, self esteem, pride, happiness, peace of mind…?

Great Quotes from Warren Buffet… “If you buy things you do not need, soon you will have to sell things you do need.” “Do not save what is left after spending, spend what is left after saving.”

Thank you!