1. Presented by: Michael Velazquez, CPA, PFS Senior Partner, SVHS, LLP Certified Public Accountants & Advisors

2.  Sadistic Statistics  Four Money Mistakes to Avoid Making  Living Within a Budget  Taxes: A primer  Resources & Where to find them  Questions & Answers

4. Sadistic : Deriving pleasure or gratification from extreme cruelty

5.  The % of Americans age 18-34 who check their social media accounts once a day is more than 3 times those who check their bank account. WWW.AICPA.ORGWWW.AICPA.ORG  91% of undergraduates have at least one credit card, up from 76% in the same study conducted in 2004. The average number of cards has grown to 4.6, with half of college students having four or more cards. (Source: Sallie Mae, "How Undergraduate Students Use Credit Cards: Sallie Mae's National Study of Usage Rates and Trends 2009")Sallie Mae  The average undergrad carries $3,173 in credit card debt, the highest since the study began. The average senior will graduate with $4,100 in credit card debt, up 41% from the same study conducted in 2004. (Source: Sallie Mae, "How Undergraduate Students Use Credit Cards: Sallie Mae's National Study of Usage Rates and Trends 2009")Sallie Mae

6.  7.2% of students drop out of college due to debt and/or financial pressures. (Source: Duck 9)Duck 9  People in the 18 to 24 age bracket spend nearly 30% of their monthly income just on debt repayment - double the percentage spent in 1992 (10% of net income is a recommended amount for debt obligation). (Source: Center for Responsible Lending)Center for Responsible Lending

7.  A 1997 study sponsored by the Jump$tart Coalition found that high school students lack an understanding of basic personal finance concepts. On average, survey participants answered 57% of the questions correctly. Only 10% of respondents said they learned about personal finance at school, while 60% learned at home. (Source: Jump$tart Coalition)Jump$tart Coalition  In 2007, a survey on teens and money reported that only 45% of teens know how to use a credit card, while just 26% understood credit-card interest and fees. (Source: Charles Schwab)Charles Schwab  84% of undergraduates admitted the need for more financial management education. Of these, 64% would have preferred some type of financial literacy education in high school and 40% as college freshman. (Source: Sallie Mae, "How Undergraduate Students Use Credit Cards: Sallie Mae's National Study of Usage Rates and Trends 2009")Sallie Mae

9.  Jumping on the bandwagon  Only saving what’s left over  Not having an emergency fund  Not asking for help

10.  http://www.360financialliteracy.org/Topics/ Budgeting-Spending/Budgeting-and- Saving/Student-Budget http://www.360financialliteracy.org/Topics/ Budgeting-Spending/Budgeting-and- Saving/Student-Budget The Financial Literacy program is part of 360 Degrees of Financial Literacy, a national effort of the AICPA and the state CPA societies to improve the financial understanding of Americans. For more information about the profession's efforts, visit www.360financialliteracy.org www.360financialliteracy.org

11.  “Taxation is the price we pay for civilization” Oliver Wendell Holmes

12. If taxable incBut notThe tax is+Of amt. over is overover Single 08,500 ------------------10%0 85034,50085015%8,500 34,50083,6004,75025%34,500 83,600174,40017,02528%83,600 174,400379,15042,44933%174,400 379,150-------------------110,01635%379,150 Married Joint 017,000-------------------10%0 17,00069,0001,70015%17,000 69,000139,3509,50025%69,000 139,350212,30027,08828%139,350 212,300379,15047,51433%212,300 379,150-------------------102,57435%379,150

13.  www.Aicpa.org www.Aicpa.org  www.IRS.gov www.IRS.gov  www.Thecollegesolution.com www.Thecollegesolution.com  www.Theeconomiccollapseblog.com www.Theeconomiccollapseblog.com  www.Studentcredithelp.com www.Studentcredithelp.com  www.Cashcourse.org www.Cashcourse.org  www.Demos.org – “Keeping students enrolled in Community Colleges” www.Demos.org  www.Cheapscholar.org – “Top 10 Student Financial Literacy Resources on the Web “ www.Cheapscholar.org