1. Health Careers Academy STAYONTRACK Created for South Carolina AHEC By Nanette Morris, RN, BA, NCBT_2009

2. OBJECTIVES Students Continue to Plan for College by Reviewing: Timelines Grades Courses College admission Budget Credit Personal Library

3. Planning Your Budget (Income vs. Expenses) Each budget is unique and determined by your income and spending habits. It can be determined weekly or monthly. Do not spend more than your income; and always pay your savings account first

4. Create a budget by: –Listing your net (after taxes) income –Listing all of your fixed expenses, e.g.: SAVINGS BILLS (Anything you are responsible for paying with your own money) Planning Your Budget (Income vs. Expenses)

5. Step 1: Setting Up A Spending Plan Step 1: IDENTIFY YOUR INCOME Steady vs. Temporary Income Steady Income: Money earned from employment, social security, support payments, pensions, investment trust that is steady and on-going Temporary Income: Limited income that is short term and not guaranteed. This income should not be included in a spending plan, but should be considered as extra savings to help achieve financial goals SOURCE: Family Budget and Money Management, www.saygoodcredit.com/manage-budget.html#cc. July 2009www.saygoodcredit.com/manage-budget.html#cc

6. Record everything that you spend during the month –Divide one time annual payments (car taxes, insurance, etc) by 12 to get a monthly payment –Keep a good record of payments made by cash, check and credit card Fixed Payments: bills that must be made monthly and should take priority in the spending plan such as rent/mortgage, car payments, loan payments Flexible Payments: bills that can be reduced or eliminated to meet a spending plan Step 2: Setting Up A Spending Plan Step 2: IDENTIFY WHAT IS SPENT EACH MONTH SOURCE: Family Budget and Money Management, www.saygoodcredit.com/manage-budget.html#cc. July 2009www.saygoodcredit.com/manage-budget.html#cc

7. Define Short-Term Spending Goals –Gifts, household items, vacations, etc Define Long-Term Spending Goals Estimate the cost and amount of time needed to achieve each goal Step 3: Setting Up A Spending Plan Step 3: DEFINE SPENDING GOALS SOURCE: Family Budget and Money Management, www.saygoodcredit.com/manage-budget.html#cc. July 2009www.saygoodcredit.com/manage-budget.html#cc

8. Create a Budget Worksheet to record and budget expenses for a single month Step 5:ADJUST YOUR SPENDING PLAN Step 5: ADJUST YOUR SPENDING PLAN Adjust budget allocations to meet long- and short-term goals based upon allocation needed in Step 3 Note: Note: Fixed expenses cannot be adjusted, but flexible expenses might be able to be reduced or eliminated to help meet goals SOURCE: Family Budget and Money Management, www.saygoodcredit.com/manage-budget.html#cc. July 2009www.saygoodcredit.com/manage-budget.html#cc Step 4: Setting Up A Spending Plan Step 4: PLAN YOUR BUDGET

9. Consider Length (1, 2 or 3 Semesters)Consider Length (1, 2 or 3 Semesters) Consider IncomeConsider Income –Salary –Family Contribution –Financial Aid –Tuition Cost Consider ExpensesConsider Expenses –Tuition & Fees –Book & Supply Cost –Housing Costs –Transportation Costs –Meal Costs Estimate A College Budget Setting Up A College Budget Estimate A College Budget

10. QUESTIONS&DISCUSSION Staying on Track Staying on Track

11. Planning Your Budget (Income vs. Expenses) http://www.adventuresineducation.org/HighSchool/Pa ying/Earning/budgetworksheetinschool.cfmhttp://www.adventuresineducation.org/HighSchool/Pa ying/Earning/budgetworksheetinschool.cfm http://www.saygoodcredit.com/manage-budget.html

12. Why Budget? A budget shows you how to manage your money A budget lists your fixed expenses (those you must regularly pay) A budget shows that you earn enough money to pay your bills and, hopefully, have money left over for enjoyment

13. Credit and You What is credit?

14. Credit and You Types of credit

15. Credit and You Credit management

16. Website Link http://www.saygoodcredit.com/manage- credit.html

17. Your Personal Library A planner which contains: –Resume –Activities and awards –Samples of college and job applications –Transcripts –Test score reports –List of references (name, phone, email, occupation, your relationship with them, and their permission to use) –Letters of recommendation

18. Your Personal Library (continued) –Career goals and information –Copies of birth certificate –Copy of immunizations –Copies of any diplomas –Copy of driver’s education certificate –Job experience (not just what you did, but why it helped your employer)

19. Your Personal Library (continued) –Community service and documentation –Work-based learning (internships) –A list of books you have read, with notes –A list of references you discover that will be useful in future research

20. Your Personal Library (continued) Can be kept electronically, but be sure you keep a backup copy Should be updated frequently so that you can find it quickly Be sure that you ask for letters of recommendation as you leave each area, assignment, or job. This will keep you current and you can ask for updates if necessary

21. Your Timeline: Summer Explore college course options Add new information to your file Tour campuses Send thank you notes

22. Your Timeline: Summer Practice SAT and ACT Practice and review online applications Research financial aid and deadlines Explore careers by taking a job in them Keep saving

23. Summer Timeline http://www.okcollegestart.org/Plan_for_ College/Planner_Timeline/Summer_Bet ween_Junior_and_Senior_Years.aspxhttp://www.okcollegestart.org/Plan_for_ College/Planner_Timeline/Summer_Bet ween_Junior_and_Senior_Years.aspx