1. Ten Simple Things to know about Money

2. (or… what I wish someone had taught me before I was 18 years old.)

3. Thank you FINRA
This program is provided through a grant from the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the American Library Association (ALA). The grant is distributed as part of the Smart library® initiative, an ALA program. This project is in its sixth year of educational partnership with libraries across Colorado and the country.
Marsha Yelick CFA(retired)
Financial Programs Consultant
Ext 831

4. Major Theme
Learn to drive
BEFORE you hit the road!

5. Earn MORE than you spend
(or spend less than you earn).
How hard is that?
Secret #1

6. Pick up all things FREE.
Secret #2

7. Use a BUDGET to track your spending.
Secret #3

8. Write it down!
Secrets of Secret #3

9. The POWER of
COMPOUND INTEREST
Secret #4
FREE MONEY!!! (green & red)

10. Start SAVING as EARLY as possible.
Secret #5 (add on to #4)
Live on LESS, pay YOURSELF first!

11. Know the difference between want and need.
Secret #6
TOO MUCH STUFF!

12. AVOID DEBT!
It’s acceptable in our society to have debt, but it’s not very comfortable!
SECRET #7
Graduating with credit card and student loan debt is a HUGE burden!

13. Measure financial decisions relative to the hours of your life.
Secret #8

14. Guard your identity.
Secret #9

15. MONEY HAPPINESS !
Secret #10

16. A BUDGET is a tool that helps you track how you spend your life energy.
Create a budget & keep it up-to-date.
Try to track every dollar spent.
Start building an emergency fund.
Start saving for retirement.
Balance your checkbook.
Secret #3 - revisited

17. Lucky Joe Average
Story Time

18. Does he need more than LUCK?
Lots of Money!
How will it be spent?
How will he keep track?
Planning

19. Assistance Available!
Hooray for the Library

20. Income (minus A LOT)
Income

21. Joe only gets $4,000 / month take home pay.
Income (minus A LOT)
Monthly income = $5,166
Minus FICA = $333
Minus taxes = $ 833
Joe only gets $4,000 / month take home pay.
Income

22. Start Saving Early (Secret # 5)
10%
P-Y-F
Pay-Yourself-First

23. The Essentials “Must pays” come next.
P-Y-F, then provide the essentials!
The Essentials

24. “Must pays” shelter, transportation, food
The Essentials
10% (saved)
35%
18%
12%
75%

25. Important expenses – another 20%?
Important Stuff

26. YOU DECIDE. Important Stuff Important expenses – another 20%?
What else is TRULY important?
Phones
Internet
Insurance
Loan payoff
Medical expenses
Work associated expenses
Important Stuff

27. Non-essential expenses – the last 5%?
The FUN stuff

28. The FUN stuff Only 5% for LOTS of Fun! What else is part of your life?
Pets
Entertainment
Clothing/nails/clubs
Travel
Buying stuff
Funding charities
Gifts
The FUN stuff

29. Five-part Basic Financial Education
Take free classes at the Library
Five-part Basic Financial Education
Everything you need to know to manage your own personal financial affairs.
Common Cents

30. Thanks for attending!
BE MONEY SMART
FOR LIFE