1. 3 STEPS TO SAVING MONEY AND BUILDING PERSONAL WEALTH EVEN WHILE YOU ARE A POOR COLLEGE STUDENT

2. STEP # 1 PAY YOURSELF FIRST!  Treat savings like a monthly bill – and make payment to your savings account each month.  Remember you are the recipient of the payment so if you skip a payment you are not getting paid!  10% of net is standard but any amount is more than you have now

3. STEP #2 EASY TO DEPOSIT HARD TO WITHDRAW  No ATM card or transfer capabilities on account  Open account at a bank at least 45min from home  If married put both names on account not as an “either or” but as “both” parties must be present to make a withdraw.

4. STEP #3 THE SECRETE QUESTION Is this purchase more important than ME?

5. Simple ways to save  Coin jar – spend no coins -always break a bill (the average person spends between 300 and 600 dollar a year using change)  Expensive piggy bank that must be broken to retrieve money.  Politely ask for savings bonds or gift checks for presents.  One for one

6. REDUCING EXPENSES How to decrease the amount of money going out

7. NEED VS. WANT  Will not purchasing cause death or physical harm?  Will not purchasing be a violation of law  Will not purchasing cause mental anguish to the point of incapacitation  Will not purchasing cause bodily harm to a loved one

8. DEFERRING GRATIFICATION  Pride for waiting to make a “want” purchase  Will you be able to purchase something nicer if you wait?  Personal goal vs. tangible purchase  Is this expense to relieve some other tension?

9. COST CUTTERS  You pay for convenience so cook from scratch (prepared and microwave food always more than cooking yourself)  You pay for personalization – is your hairstylist knowing you worth a $90.00 hairstyle.  Companies plan for you to make spontaneous purchases – never buy without a waiting (thinking) time period

10. INCREASING INCOME Bringing more money into the equation

11. INCREASE PAY RATE  Having a job instead of career can sometime produce more money for the short term  Always be looking and networking  Remember, you never know who may be your next boss so act appropriatly

12. INCREASE # OF HOURS WORKED  Time management schedule can reduce wasted time which provides more time for work  Education first – no benefit if you have to w/d or fail a course due to working to many hours

13. FINANCIAL SUPPORT  Family and friends provide monetary support  Family and friends provide a service for you that reduces you expenditures  scholarships, grants and loans  gifts

14. HINTS AND SECRETES

15. HINTS  Goals  Planning and budgeting  Support  Determination  Expect and plan for disasters  Resources – financial literacy website

16. SECRETES  Personal wealth comes from length of time money grows – start now  Compounded interest is the key  Invest in retirement program – 401, 403b  Maximize any employer matching funds  Take benefits and retirement plan into consideration when talking salary  Follow your passion and live within your means  Strive for debt-free living