1. Managing Your Money as a College Student:
Top 22 Tips

2. After this workshop, you will be able to:
Create a plan to reach your financial goals
Maximize financial aid
Cut expenses without pain
Build good credit
Make savings a habit

3. Why Take Charge?
“He who fails to plan, plans to fail.” —Proverb “Planning is bringing the future into the present so that you can do something about it now.” —Alan Lakein “Let our advance worrying become advance thinking and planning.” —Winston Churchill “Organizing is what you do before you do something, so that when you do it, it is not all mixed up.” —Winnie the Pooh

4. Financial Planning
Step 1: Define your financial goals. Step 2: Make a plan to reach your goals. Step 3: Take action until your goals become reality.

5. Your Financial Plan

6. Maximizing Financial Aid
Read the fine print
Keep looking for aid dollars
Watch out for scholarship scams
Use private loans as a last resort
Understand your student loan obligations
Submit a new FAFSA every year
Talk to a financial aid officer about any changes in your situation

7. Are We Having Fun Yet?
Snack attacks
The combo: roommates & money
Peer pre$$ure
Student discounts

8. Reality Check

9. Stuff I have the money for
Needs and Wants
Stuff I want
Stuff I need
Stuff I have the money for

10. Ways to Stretch a Dollar
Cut out/cut back costly habits
Shop thrift stores, garage sales
Avoid money traps (rent-to-own, pawnshops, check-cashing outlets)
Make and stick with a shopping list, clip coupons
Use bike or public transportation vs. car
Limit downloads
Go to free on-campus events

11. Working the Plan
Step 1: Identify Income Step 2: List Expenses Step 3: Compare Income and Expenses Step 4: Set Priorities and Make Changes
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12. 5 Steps to Building Good Credit
Pay basic expenses and utilities on time
Make loan payments on time
Pay loans BEFORE you spend money on other things
Apply only for the credit you
need and can afford to repay
Do not bounce checks or
overdraw your account

13. Taking Control of Your Credit Card
Use only one credit card
Shop for the best credit card
Consider a secured card
Don’t charge anything you can’t pay for
Pay your monthly bill on time

14. Taking Control
Pay balance in full; if not possible, pay more than the minimum
Think of your credit card as a loan
Subtract credit card purchases from checking account
Do not get a cash advance

15. Signs of Debt Trouble You don’t know how much you owe
You use credit cards to pay bills
You borrow from one credit card to pay another
You make only the minimum payment
You miss payments or pay late
Creditors have you on speed dial
You get a job just to pay off your credit cards

16. How to PYF Make savings a line item on your budget Payroll deduction
Automatic electronic funds transfer
Put “extra” money in savings
vs. spending
Put $1 + loose change in a
jar daily
Set a goal

17. Saving and Investing, Oh My!
Low Risk Options
Savings accounts
Money market accounts
U.S. savings bonds
Certificates of deposit
Medium Risk Options
Stocks
Bonds
Mutual funds

18. Protecting Your Identity
Do not carry your Social Security card
Do not carry your PINs
Buy a shredder and use it
Check your credit card statements, bank statements, and phone bills for unauthorized activity
Keep credit card, debit card, and ATM receipts in a safe place
Use secure sites for e-commerce

19. Recap Create a plan to reach your financial goals
Maximize financial aid
Cut expenses without pain
Build good credit
Make savings a habit

20. What Are You Going To Do? Set financial goals
Review financial aid package
Create a budget and track your spending
Use credit wisely
Pay yourself first
Protect your personal information

21. Thank for Attending our Workshop!
These materials are for noncommercial educational use only.
Portions of the content © 2015 National Endowment for Financial Education®. All rights reserved.
CashCourse® is a trademark of the National Endowment for Financial Education