1. Chelsie Andera and Hannah Ruona Money Matters!

2. Budgeting

3. In a correctly formed budget, income should equal expenses. There should not be money left over.

4. Why keep a budget? Match income with expenses Predetermines how money is allocated Pay bills on time Tracking your spending Adjusting expenses Are you spending too much? How to save Evaluation of a budget

5. What have you taught your children about budgeting?

6. Savings/Checking Accounts

7. Ten percent of earnings should be set aside for savings.

8. Benefits of Accounts Savings Account Why save money? How to save money Checking Account To properly track Alternative to a credit card Debit card

9. Do your children have checking and/or savings accounts?

10. Credit Cards

11. You should never charge more on a credit card than can be paid off each month.

12. Credit Cards 84% of undergrads had a credit card (2009)* What to look for Benefits Build credit Buying power Secured/Limited Drawbacks Can hurt credit score if used incorrectly Accumulated interest Credit Card Act ** Inform customers when rates/fees change Time to pay off balance using minimum Under 21 requires cosigner * Coping with Cash 101. USA Today. 2009. ** How Will the Credit Card Affect Me? Time.com.

13. What have you discussed about credit cards with your children?

14. Building credit

15. You dont need a credit card to build credit.

16. Credit Building Other ways to build credit Separate cell phone account Being employed Why its crucial to build credit Future loans (house, car, etc.) Employers Renters

17. What ways have your children started to build credit?

18. Communication

19. Talk to your kids about finances!

20. Whos Paying? Which expenses? Examples: Cell phone Car insurance Gas Groceries Eating Out Expectations

21. Have you discussed with your children what their financial responsibilities will be?

22. Discussion Points Budgeting Match income with expenses Savings/Checking Accts Start saving now for the future Keep track of your spending Credit Cards Charge what you can pay off Building Credit Look into options other than credit cards Communication Plan and dont be surprised

23. Final Thoughts Fall Seminars Budgeting Building Credit/Credit Cards Contact Information Chelsie Andera CANDERA@uwsuper.edu Hannah Ruona HRUONA@uwsuper.edu

24. Thank You! Contact Information Chelsie Andera CANDERA@uwsuper.edu Hannah Ruona HRUONA@uwsuper.edu