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

Anyone want this? 40k: Win, Marry, Inherit, Sue, Budget or Pay Yourself First

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 “Live like a student in college, so that you don’t have to live like one after graduation”

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 $37,172 nationally vs. $24,744 Southern = $288/month for 10 years https://www.youtube.com/watch?v=tu1bGgOuyww&feature=youtu.be Student loans appreciate in value If earn $25,000/ year more with a degree X 40 working years = $1 million more Invested $24,744 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 https://www.youtube.com/watch?v=ZE6Ajbe91io&list=PL41B4411773C45F8A&index=55+http%3A%2F%2Fwww.moneysavvy.com%2F

Time is money

Credit Cards Have one card, no annual fee, and use sparingly 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 Bankrate.com & cardratings.com https://www.youtube.com/watch?v=7U6pmkTC8i0

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

GO TO CLASS! $57