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  • 1. Introduction: We all recognize the need to spend money wise. But, many of us know what we ought to be doing with our money yet often just don’t do it. That’s why; smart money management is your best protection against money troubles. Money is the harvest of all your efforts. Yet, to deal with money you must learn about yourself--your needs, goals, desires, and money fears. What does money mean to you? Is it something to be hoarded, spent, or worried about? Does it give you security, bring you pleasure, or cause you guilt? Whatever the reason, optimum management of your financial resources can improve your standard of living. Main Purpose: The main purpose of this pathfinder is to provide information to all young adults who are seeking ways to create or maintain an effective budgeting/saving system. This pathfinder will introduce you to new and inventive ways to make smart money decisions. Is there a need for electronic materials? You may be wondering about the relationship between electronic materials and budgeting and saving tips. In today’s world there are many people around who want to help you manage your money than ever before. Many people who used to be called bankers, stockbrokers, or insurance agents now call themselves financial planners or consultants. These financial planners are easily accessible, but for a fee of course! Yet, due to the ever-changing world of technology, there are many resources available via internet and software packages, which can easily provide informative and useful guidelines similar to a financial advisor. Now, with having the capability to obtain this type of valuable information you can now be “Your Own Financial Planner”. If you are willing to save, you can learn to do a better job of managing your money finances by viewing this helpful pathfinder. Task: This pathfinder is designed to inform young adults about effective budgeting tips, great ways to save money, how to build a financial planner, and the many educational materials available for additional information. Young adults accessing this pathfinder will be able to make smart money decisions and build/maintain a financial platform for the future. Selection Process: The resources that have been selected are based on information accessed through Yahoo, Excite, and The material provided is designed to inform young adults about ways to budget effectively. Keyword Search: • Personal Finance • Budgeting & Saving Tips • Save Money Strategies • Frugal living Search Strategies: To gather more personal financial advice, try accessing other search engines such as , and even for additional assistance.
  • 2. Consumer Credit of America Consumer Credit of America is a website that provides credit counseling nation wide. Young adults accessing this website will have access to many educational and informational articles relating to financial mishaps. Featured articles: • Common mistakes young adults make with money and How to avoid them • Five ways to cut spending, and still get to do and buy cool things • Five things you should know about credit cards • Simple, Everyday things you can do to save money The Buzzle (Intelligent life on the web) The is a website that contains a really helpful and educational article for young adults seeking advice on ways to save money. This site provides tips on ways to reduce debt and maintain a reliable budget. Free Financial Advice (Ways to save money, make money, and get of debt) Free Financial is a website with many advisory tips relating to ways to strategically save money. Young adults accessing this particular will be able to access tons of helpful articles to gather information about money matters.
  • 3. Featured tips: The Rules of Financial Management • Have realistic expectations • Live within your means • Rationalize your spending WikiHow (Saving Money Tips) Wiki How is an editable how to manual site that contains helpful budget information for young adults seeking ways to save money. Young adults will be able to access various different informational sections that will allow them to gather money saving tips. Featured strategies: • How to earn and save money • How to save money for things you want • How to buy nothing • How to live on a structured budget without going crazy Free Money Finance (Grow Your Net Worth) Free Money is a useful site that contains many interesting articles geared towards young adults. Young adults accessing this particular website can read a very useful article titled “Help for young adults looking to move from classroom to the real world”. This article provides information about young adults entering the workforce and their financial priorities. Other articles featured within this website include the following: “Saving money on banking”, “Save money by paying your credit bills on time”, and ‘Hundreds of ideas on how to save money”.
  • 4. Investopedia features a variety articles relating to saving money tips for young adults. This website includes information for retirement and an educating article titled “Saving for minors”, which provides information about the benefits of starting to save money early. The Motley Fool (To Educate, Amuse, and Enrich) Motley is website that contains interesting budgeting and saving tips for young adults. Young adults accessing this site can gather important information about how to handle money effectively. Featured tips: • Saving Options • Get a handle on your money • Why short-term savings Kiplinger provides a very educational article by Erin Burt dealing with the “Five Financial Resolutions for Young Adults”. In this article, young adults can learn tips on how to save for a house, reduce credit card usage, and ways to cover one’s assets.
  • 5. YouTube: Save money clip Tips to save money in 2008 This clip provides information by Kate Bohner & friends from “KBTV: water-cooler diaries” online which discusses ways to save/invest money in 2008. Clothing Shop Spanky’s Looking for affordable, yet fashionable wear? Spanky’s shop provides popular and stylish apparel at an affordable price. Spanky's young adults department has pretty much all the in-brands from Abercrombie & Fitch, Diesel, Hollister and Sevens Jeans, to Gap, Nike and North Face. Orange Zone, Inc. (The off-price apparel specialist) Are you a bargain shopper? Orange Zone, Inc. is the leading wholesaler of off-price apparel. This site provides the largest selection of clothing with the best prices. Save More Money On Clothing Tips: Stretch your clothing shopping dollars Money provides young adults with clothing shopping tips in order to save money effectively. Save money on clothing provides young adults with inventive ways/tips to save money on clothing expenses.
  • 6. Footwear Home of shoes Shopping on a budget? This money saving website contains a variety of wholesale and the latest fashion shoes for everyone. Deals Plus Looking for cheap shoe deals? This website includes great bargains for shoes, as well as great deals on apparel, and even electronics. Fuel Gas-Buddy links to gas-price sites in Canada and the U.S. by specific state or province, county or parish. Gas-Buddy tracks regular gasoline and diesel fuel. highlights the lowest cost for each grade within your area when available. GPW (Gas Price Watch) spotlights the best local price, and it also lets users sort results to find the most recently posted prices. is gas price locator that will help viewers find the lowest gas prices in the local area.
  • 7. Fuel Saving Video Clips Tips to save money on gas This clip is sponsored by, which provides helpful tips on ways to save gas money, while introducing the new features of a hybrid car. Cheap gas prices at American Fuel Club This informative link is sponsored by American Fuel which introduces information about an effective member’s only club that can help driver’s save on gas expenses. Affordable Car Insurance Insurance Savings provides affordable car insurance for young adults. Young adults accessing this site will be able to obtain a free insurance quote and save up to 75% on premium insurance. This website also contains many educating articles for young adults such as: Discount car insurance, Low cost car insurance, and Car insurance credit. These wonderful articles will inform young adults about the importance of car insurance. Allstate Are you in good hands? provides information about its wonderful promotions such as safe driving bonus points, accident forgiveness, deductible rewards, and it new car replacement plan. Young adults accessing this useful website will also be able to receive an instant car insurance quote or have an insurance professional call immediately for an instant coverage cost.
  • 8. Coupons Free printable coupons This site contains money saving coupons for food, household needs, and even entertainment. Brads Deals (Handpicked Savings) This money saving website includes handy coupons for food, health & beauty, and even books. Affordable & Free Activities Frugal Village Frugal provides interesting, cheap, and fun activities for young adults who are living on a budget. Suggested activities include: Star gazing, Park/nature center outing, and even fun- filled board games.
  • 9. Free Attractions is a wonderful database for Free Attractions and Free Things to do in all 50 United States and over 1,500 U.S. Cities. Listings include Free Museums, Free Parks, Free Concerts, Free Parades, Free Festivals, and Free Zoos. Users can search for fun-filled activities by accessing the map available within this helpful website. The Dollar Stretcher The Dollar provides a wonderful article by Shaunna Privratsky about “Marvelous movies on budget”. Young adults accessing this useful article can gather tips on ways to save money at the movies.
  • 10. Saving money can be a hard task to begin when you lack the proper financial knowledge. To gather money saving information one must become familiar with how to build a financial planner. Listed below are a few free downloadable budget trackers and a useful, effective budget worksheet provided by Wells Fargo Banking, available for your personal use. Free Downloadable Budget Trackers Budget Tracker, Inc. What we do: Budget Tracker, Inc. is a financial money management site which allows users to access their data from any internet connection via a Personal Computer or Cellular Phone. Budget allows you to track your Budget, Bills, Transactions, and tie all these together in an easy to read Calendar that can send you reminders when Bills are due. You can also view most of the data stored on this site with your cellular phone so you can take all your data with you where-ever you may be. To learn more about the available features budget tracker has to offer, visit the full product list for more information.
  • 11. Budget Tracker (Keep your ducks in a row) budget tracker is an easy to use program that will help you track and understand your monthly expenses. Each month you can enter in a number of specific monthly expenses including Rent/Mortgage, Utilities, Grocery, Entertainment, Phone, Medical, Clothing, and more. Each of these is tracked per month, but also a running average is kept for each expense over time. So you can see just how much you spend on average for specific items. Budget Tracker is designed to be easy to enter all your expense data. All the averages and monthly totals are on the main screen so you can get a quick view of your personal finances. Other data that is tracked includes an overall monthly average expenditure as well as the highest month and the lowest month. In the end, Budget Tracker’s goal is to help you get a grip on where your money is going allowing you to better manage your finances. Free Budget Worksheets (Improve your personal finances) Free Budget provides a variety of free budgeting worksheets as well as many educational and interesting articles related to personal finance. Young adults will have access to many useful money saving worksheets as well as informational articles. Featured Articles: • Steps to building a budget • Budget Planning: Predicting the future • Save Money, Save Time, Pay Online • Financial Fitness Quiz for personal budgeting
  • 12. Budget Worksheet – Young Adults Use the worksheet below to create a monthly budget and track your actual spending. If you have an expense that is not paid monthly, convert it to a monthly amount. For example, if you pay your car insurance bill every six months, divide the amount of the bill by six. CATEGORY MONTHLY BUDGET MONTHLY DIFFERENCE AMOUNT ACTUAL AMOUNT INCOME Salary/wages (after taxes and other deductions) Bonuses/commissions Other Income Income Subtotal FIXED EXPENSES Car Payment Car Insurance Debt payments (credit cards, loans) Other fixed expenses FLEXIBLE EXPENSES Groceries Transportation (gas, repairs, tolls, bus, subway, etc.) Personal care services (laundry, haircuts, etc.) Personal care needs (deodorant, body soap, etc.) Personal necessities (clothes, shoes, etc.) Medical/dental Other flexible expenses
  • 13. DISCRETIONARY EXPENSES Savings Cell Phone Restaurant Meals Entertainment/recreation/vacation Books/magazines/newspapers Other discretionary expenses EXPENSES SUBTOTAL NET INCOME (Income less expenses) Additional budgeting tips: • If you’re still living with your family, first, contribute your fair share to the household. If your family’s supporting you 100%, be realistic: this “free-ride” won’t last forever, so set aside some money every week or every month for your short and long term goals. Leave yourself enough to pay for your day-to-day expenses and some money to have fun. • If you’re away at school or already living on your own: o First, pay your bills: for example your rent utilities, car payment, insurance, and credit card bill. Remember, there are many potential penalties if you pay your bills late, such as late fees, losing possession of things you’ve bought on credit, even being evicted from an apartment! Also, paying late can seriously damage your ability to borrow money in the future. o Next, set aside the money you’ll need for your weekly and day-to-day expenses, like groceries and bus fare. Finally, you’ll want to save some money for emergencies, if you can. o Next set aside money for larger expenses you know are coming, such as school books and clothing o Finally, set aside money for your major future goals whether it’s more education, a new car, or travel. Worksheet provided by: Hands on Banking – The Library – Young Adults 2007 Wells Fargo Bank
  • 14. How to implement an effective budgeting plan: Use these four easy and general guidelines to incorporate in order to create a financial planning activity. This information can be presented to young adults during a workshop that involves ways to save & budget effectively. Pay Attention: Look at your income and each expense with a critical eye. Paying attention means to spend your money wise only on things that you need, and NOT on what you want. Be Disciplined: Being disciplined means to follow through with your money decisions. This means paying your bills on time, lower credit card usage, and simply living with the budget you construct.
  • 15. Craft a plan: Gather the information you need, then sit down with pencil and paper to: • Create a budget plan or spending plan • Limit yourself to one type of credit card • Stop incurring new debt Put your plan in writing so you can tell whether you are following it honestly. Take Action! Implement your plan! Make lists, charts, or reports that you look at weekly or monthly that tell you if you are on track.
  • 16. Non-Fiction Books Rich by Thirty: A Young Adult’s guide to financial success By: Lesley Scorgie Rich by Thirty offers young people practical advice and solid information on a wealth of financial topics, including the differences between saving and investing: why a young person should invest; learning how to budget; avoid credit card traps; the dangers of unrealistic expectations; and how to choose the right investment vehicles. This book also features worksheets, a resource section, and a glossary of money terms. The Everything Personal Finance in your (20s & 30s) book By: Debby Fowles The Everything Personal Finance Book provides young adult’s with easy-to-understand advice on how to manage money properly.
  • 17. The Everything Budgeting Book By: Tere Drenth The Everything Budgeting Book gives young adult’s advice on how to assess spending patterns, practical strategies to economize on everyday expenses, common sense tips on budgeting for the future, numerous debt-consolidation resource, and easy-to follow budgeting worksheets. Magazines Young Money Magazine Young Money Magazine is the only money/lifestyle magazine geared to 18-24 year olds. It is now reaching college students who are naturally involved in various money related matters such as credit cards, student loans, saving and investing, car buying and career search. Young Money skillfully delivers a unique blend of money, business and lifestyle that engages, inspires and informs. With a majority of articles written by sharp college journalists who "know the language" and have the attitude of today's youth, Young Money draws readers inside with a fast paced tour of stories, facts, opinions, and colorful, lively photos and illustrations.
  • 18. Stash Magazine STASH is an online, interactive magazine for young adults who want to learn more about managing their money. It is written by us, for us. STASH is designed to let you be heard. You can rate articles and post comments. If you've written an article you would like to share, submit it! Non-Fiction Videos Financial Management for young adult By: Dave Durand This educational program provides young adults with the important differences between saving, investing, and budgeting, and the risks of credit card debt.
  • 19. Financial Peace: Cash Flow Planning By Dave Ramsey In this video, Dave Ramsey walks you through a step by step method for setting up a household budget that you can live with. No longer will you have to dread living on a budget. Dave shows you how to live on less than you make, pay your bills, allow for entertainment and still have money left over at the end of the month. The 9 Steps to Financial Freedom By: Suze Orman Financial expert Suze Orman is changing the way America thinks about money. Orman outlines a revolutionary approach to the way we save money, handle debt, and plan for our retirement. By examining and understanding our earliest attitudes toward money, we can honestly confront where we stand financially and take the necessary action toward financial freedom. Orman deals with managing money responsibly, handling credit card debt, and planning for our retirement. Software (Money Manager 2007) Keep track of your money with this personal organizer. Money Manager can take all the hard work out of managing your money, leaving you free to enjoy it. By simply setting up your bank,
  • 20. credit card and savings accounts and then taking a few minutes each week to enter the details of any transactions, you'll soon be producing useful charts and reports. The result will be a much clearer picture of your financial future so you can plan and budget with confidence and accuracy. Budget Creator (By: M2K) Budget Creator helps you to create a smart budget that saves you time and money. Learn how to make money appear instead of vanish. Understand the secrets of how to develop a smart budget. Product Features: • Learn to create and maintain a budget • Great for college kids • Set financial goals, create a budget process and more Microsoft Money Deluxe 2007 Microsoft Money 2007 Deluxe brings all your personal accounts—banking, credit, and investment—together in one place. With its easy-to-use tools, you can improve your credit, decrease debt, and tackle your taxes. Microsoft Money 2007 Deluxe lets you spend less time worrying about your money and more time enjoying it. From balancing your checkbook to improving your credit score, Money 2007 Deluxe can help you get—and stay—organized. Product Features: • Money's Spending Tracker automatically categories your transactions and compares them to your budget • Manage your bills using multiple online accounts, even schedule the payment of bills in advance • See all of your accounts--checking, savings, and credit--in one place
  • 21. Created By: Kimberly N. Jackson (2-15-08)