1. On the Road to Financial Success Personal Finance for Life

2. Setting Goals Characteristics of goals – Specific, measurable, reasonable and realistic Time-frame – Short-, medium-, long-term Examples for your life stage – Save “x” dollars for a car – Get a summer job – Design a budget

3. Create a Budget - Income Allowance My job or business Odd jobs Scholarships Gifts Loans

4. Create a Budget - Expenses Money I owe Savings College savings Giving Gifts Transportation Food Clothing Personal care School supplies Telephone Recreation Vacations

5. Checking Accounts & Electronic Money Checking accounts – Safety – Proof of payment – Convenience – Establish credit ATM cards Debit cards

6. Saving & Investing Emergency savings Start early Bonds Stocks Mutual funds Strategies

7. Recipe to be a Millionaire Work four summers, start at age 16 Save income in a Roth IRA account Invest in a simple, low-cost stock portfolio Simmer slowly for 47 years Serve un-garnished (and untaxed) at age 67

8. The World of Credit Benefits of credit So many choices Shopping for credit Applying for credit The C’s of credit Establishing credit The cost of credit Using credit wisely Protecting your credit history Your credit report Your credit score

9. Cost of Making the Minimum Payment ItemPriceAPR Interest Paid How Much You Really Pay for the Item Total Years to Pay Off TV $50018%$439$9398 Computer $1,00018%$1,899$2,89919 Furniture $2,50018%$6,281$8,78134

10. Benefit of Making More Than the Minimum Payment Original Balance APR Monthly Payments Total Number of Monthly Payments Total Years to Pay Off Total of Pmts $2,50018%Min Pmt40434$8,781 $2,50018% Min Pmt +$50 948$4,698 $2,50018% Min Pmt +$100 323$3,163

11. Be Credit Wise Over 75% of college students have credit cards Over 30% of college students have 4 or more credit cards 3 out of 5 students with credit cards maxed them out in their freshman year Over 60% of college students don’t have a budget

12. Me and My Car New or used? Buy or lease? The other costs – Registration – License plates – Insurance Maintaining the car

13. It’s Off to Work You Go How much will you make? Taxes – Gross vs. net income Entrepreneurial spirit

14. Leaving the Nest Pay bills Open checking acct Balance checkbook Stop payment on a check Re-order checks Read a lease Buy insurance Order electric service Register to vote Get a passport Apply for student aid Get a credit report Invest Do a tax return

15. On the Road to Financial Success