1. Presented by: Richard L. Wright
Financial Literacy
Presented by:
Richard L. Wright

2. 10 tips to financial literacy
Learn the lingo
Get organized
Set financial goals
Evaluate your lifestyle
Build your budget
Track your spending
Review regularly
Use credit wisely
Avoid or eliminate debt
Plan for the future

3. 1. Learn the lingo
Treat words related to “finance” as terminology and a new language
Study Financial Literacy as you would for your classes
Go to the internet and search Financial Literacy websites

4. 2. Get organized part one Understand where your money goes
Get it down in writing either electronically on your computer, or with a planner or calendar
Include all your bill due dates, when your getting your paycheck and or financial aid, how much your paycheck and or financial aid is going to be
Know the money coming in and money going out, but tie that to dates that you have when things are due

5. 2. Getting organized part two
Set a financial appointment for yourself
Every week set aside minutes to look at your budget (not on the weekend)
Look at your bank account, look at your financial calendar to know when your bills are due
Plan at the next week or the next month

6. 3. Set financial goals Goals need to be SMART
Specific
Measureable
Achievable
Realistic
Time-oriented
Create long term financial goals
Created short term financial goals

7. 4. Evaluate your lifestyle
Look at where you are and set reasonable, realistic expectations for yourself
Determine what your needs are
Determine what your wants are
Categorize every piece of spending that you do as a want or a need

8. 5. Build your budget A budget is a spending and saving plan
What money is coming in
What money is going out
Project out
Plan ahead

9. 6. Track your spending
Track every penny that’s being spend in your life
Look at every single category of spending and every single day of the month
Every day that you spend money or get money, record it and put it under that particular day and that particular category before you go to sleep

10. 7. Review regularly
During your financial appointment with yourself, set that time to review your budget and review your spending
Focus on improvement
Acknowledge your mistakes and work on improvement

11. 8. Use credit wisely
Credit is not a crutch, it’s a tool for you to build a better financial future and to be able to achieve more and bigger goals later on
Pay your bills on time every time
Don’t charge too much on your credit cards
Build a long steady financial history

12. 9. Avoid debt If you don’t have debt continue to avoid having debt
3 simple rules of avoiding debt
If you incur debt pay it off as soon as possible
Budget for every expenditure that you have
Do not carry credit cards with you
Eliminate debt

13. 10. Plan for the future
You are usually in a transition period most of your life
Engage in reflection and thought
What’s your next step in life
What’s your next goal