1. ON YOUR OWN

2. At the end of this class participants will have knowledge of:  Banking basics – savings to eBanking  Things to consider when selecting and Financial Institution  Budgeting – taking charge of your money  Types of debt  Strategies for financing college

3. BANKING BASICS

4.  Safe – NCUA/FDIC  Available when needed  Get started with minimal cash  Direct Deposits  Recurring Deposits  Different types can be offered – Interest bearing  Statement Savings  Money Market  “E” accounts - Holiday and Vacation e-clubs  Some financial institutions charge fees for not maintaining the minimum

5.  Can be used to deposit money including paychecks, refund checks, pay bills, etc.  Convenience – tied to check card  Online banking  Budget – Money$mart Helps you track your expenses and income You can set up alerts (prevent overdraft)  Fees

6. All checks have the following components:  Date  Amount  Maker  Payee  Endorser  Routing Number  Account Number

7.  You can use this in place of cash. To avoid PIN- related (debit) charges always choose “credit” when asked.  Debit v. Credit Card  ATM Charges  Lost or Stolen Cards REPORT IMMEDIATELY!

9.  Convenience  Services  Minimum Deposit Requirements  FEES To hold your Money Access Your Money Overdraft/NSF  NCUA/FDIC

10. BUDGETS

11. A budget is a way of keeping track of the money you get and the money you spend.  Define your financial goals  Make plans to reach your goals  Take action

12.  Puts you in control  Helps you create a visual spending picture

13. LEARNVEST http://www.moneyunder30.com /free-budget-spreadsheet

14.  Pen and paper  Smartphone apps https://itunes.apple.com/us/app/slice-best- package-tracker/id475854271?mt=8 https://itunes.apple.com/us/ app/spending-tracker/id548 615579?mt=8

15. College or School Average Starting Salary Offer* Arts and Sciences$37,874 Biomedical Engineering, Science, and Health Systems $51,886 Business$47,186 Education$39,100 Engineering$58,584 Information Science and Technology $58,686 Media Arts & Design$36,483 Nursing and Health Professions $55,688 Technology and Professional Studies $55,639 * These average starting salaries are from 2010, the most recent year for which complete data are available.

16. SOURCE: http://www.naceweb.org/uploadedFiles/NACE Web/Research/Salary_Survey/Reports/SS_Jan2 013_ExecSummary.pdf

17. Occupation: Business Salary: $53,900 (2012 average) College Debt:$35,200 (2013 average)*

18.  Rent  As of September, 2013, average apartment rent within 10 miles of Philadelphia, PA is $1265.  One bedroom apartments in Philadelphia rent for $1083 a month on average and two bedroom apartment rents average $1324. http://www.rentjungle.com/average-rent-in-philadelphia-rent-trends/http://www.rentjungle.com/average-rent-in-philadelphia-rent-trends/  Utilities (Electric, Water, Gas) - $100 /month  Cell phone - $100 ( 2GB data, unlimited talk/text

20.  Saving (PAY YOURSELF FIRST)  Cut your expenses Resist peer pressure Use student discounts  Want and Needs  Opportunity Costs Stay on Campus v. Commute Housing - Dorm v. Apartment Meal plans -All inclusive v. design your own -Meals v. dining dollars

21. DEBT

22.  Parents  Credit Cards  Auto Loans  Student Loans Direct Private

24. WHAT’S NEXT…

25.  Cost of Attendance  Tuition  In-state  Out-of-state  Private  Room and Board  Books  Technology  Fees

26.  Savings  Scholarships  Grants  Student Loans  Federal Direct Loans  Private Loans  Work Study  Part-time Job

27.  Federal Direct  Subsidized  Unsubsidized  Direct PLUS  Perkins  Work Study  Private Loans

28. The 20-10 Rule recommends that an individual's total debt should be no greater than 20% of the individual's net annual income and that monthly debt payments should total no more than 10% of the individual's monthly net income. Bottom Line:

29.  K.I.S.S.  Discipline  Make educated and planned decisions  Use all your school’s resources

30.  http://www.moneyunder30.com/  http://www.nerdwallet.com/blog/2013/9- budgeting-apps-college-students/  http://www.tuition.io/blog/2013/07/17-ups-and- downs-of-the-student-loan-lifecycle/  http://www.creditdonkey.com/blog/student/  http://www.fafsa.ed.gov/