1. WELCOME! to Collin College SMART Money Presentation Today’s Presenters: Mark Clark, Collin College Professor of Business & Economics Doug Willis, Associate Dean of Students – Preston Ridge

2. Collin College’s SMART Money Program Am I ‘Financially Healthy?’

3. Key Financial Activities 1.Obtaining Funds. 2.Spending Funds. 3.Saving Funds. 4.Borrowing Funds.

4. Financial Goals: A Lifecycle of Planning 1.Childhood (Introduction). 2.High School and College (Early Growth). 3.Career Development (Early/Late Growth). 4.Family Formation (Early/Late Growth). 5.Pre-Retirement (Late Growth). 6.Retirement (Decline).

5. What Determines Personal Income? 1.Age and Experience. 2.Education. 3.Career Choice. 4.Place of Residence. 5.Perceptions by Others (Demand).

6. Current Financial Status? 1.What is your current financial status? 2.Do you have more cash than you owe? 3.Do you require support from others to support your lifestyle? 4.Do you have debt? Student Loans? Car Payment? Credit Cards? Other? 5.What is your plan to achieve #2.?

7. Assessing Financial Condition 1.Create a Personal Income Statement (Income – Expenses) = Savings 2.Create a Personal Budget (be honest and accurate). 3.Determine upcoming (1 to 3 years) financial requirements (needs).

8. What’s your Goal or Plan? 1.Have sufficient funds to support your lifestyle? 2.Live the lifestyle you desire? 3.Be prepared for emergencies? 4.Have a savings and investment program to support your lifestyle – indefinitely?

9. Successful Financial Plans Create a ‘personal Plan’ that is … Organized Realistic. Flexible. Written.

10. Ways to Increase Net Worth 1.Increase Income. 2.Reduce Living Expenses. 3.Increase Savings. 4.Increase the Value of Investments, and other possessions. 5.Reduce amounts owed.

11. Propensity to Consume (Spend) The percentage of each dollar of income that is spent for current needs, rather than saved. What is your propensity to consume? Income spent on Current Needs ÷ Total Income

12. Summary: Achieving Financial Goals 1.Plan (using an achievable Budget). 2.Organize (Financial Resources). 1.Implement (Spend, Save, and Invest). 2.Control (monitor Financial Statements).

13. SMART Money Help!  Worksheets to determine your Personal Equity are available for Students’ use.  Consultation regarding your results is available.  To take advantage of these services, please contact Mark Clark, Professor of Business and Economics, mclark@ccccd.edu or 972.516.5062. mclark@ccccd.edu

14. Cougar Smart Money Program A new program offered by Collin College to help lessen the impact of poor money management skills and the rising cost of education. Contact: Doug Willis (972) 377-1793 or DWillis@CCCCD.eduDWillis@CCCCD.edu With questions and program ideas

15. Collin College’s SMART Money Program Getting a handle on your financial situation!