$mart Money Management Financial Literacy & Advising www.southernct.edu/financial-advising DeLucaL2@southernct.edu, 203-392-8862 Lew DeLuca, Wintergreen Building, 108E

GO TO CLASS! $59

Life = Making Decisions 6-10 Money Decisions/Day $4.00 coffee/day = $1,460/year https://www.ted.com/talks/joachim_de_posada_says_don_t_eat_the_marshmallow_yet http://www.southernct.edu/financialaid/scholarships.html

Monthly INCOME EXPENSES Grants & Scholarships Tuition & Fees Loans Books & Supplies Employment Room & Board Gifts Transportation SAVINGS! https://www.youtube.com/watch?v=6Ib-bdko5cE

Making progress…

Loans Money borrowed then repaid with interest https://www.youtube.com/watch?v=5fdFNJITMyc, NSLDS $37,172 nationally vs. $26,946 Southern = $272/month for 10 years https://www.youtube.com/watch?v=tu1bGgOuyww&feature=youtu.be, Student Loan Rules Student loans appreciate in value If earn $25,000/ year more with a degree X 40 working years = $1 million more Invested $26,946 for $1 million ROI

$ Saving Tips EARN > SPEND Buy used or rent textbooks Use college student discounts (UNiDAYS) Pay Unsub loan interest now Limit financial aid refunds Checking vs Savings accounts

Time is money

Credit Cards Have one card, no annual fee, and use sparingly Bankrate.com & cardratings.com Pay bill in-full and on-time (46% do not) ---OR--- $1,000 bill, 20% interest, and pay $40 minimum/month = 74 months to pay + $561 interest https://www.youtube.com/watch?v=7U6pmkTC8i0, A Student’s Story

Credit Report/Scores Credit = your financial report card FREE @ www.annualcreditreport.com Information remains for 7-10 years Credit score > GPA

FICO Score

Life After College Gross vs. Net pay $36,000 salary = $3,000/month ??? Pay yourself first - save 10% earnings Retirement: 401k/403b (5% me, 8% co.) Rule of 72 (72/interest rate to double your $) https://www.bing.com/videos/search?q=ted+talk+the+best+class+you+never+took&FORM=VIRE2#view=detail&mid=D9B2B596BF2BD6E4BD31D9B2B596BF2BD6E4BD31

The Index Card, by Helaine Olen and Harold Pollack