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OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
OnEin3 Money 01 20 10
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OnEin3 Money 01 20 10

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ONEin3 Boston, an initiative founded by Mayor Thomas M. Menino at the Boston Redevelopment Authority, connects young adults with resources, with city government and with each other. Thirty-three …

ONEin3 Boston, an initiative founded by Mayor Thomas M. Menino at the Boston Redevelopment Authority, connects young adults with resources, with city government and with each other. Thirty-three percent of residents in the City of Boston are between 20-34 years old. This integral demographic represents today’s workforce and consumers, and tomorrow’s professional and civic leadership. ONEin3 Boston seeks to make the City an attractive, long-term home by studying the issues that are important to them and acting upon those findings.

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  • www.JenniferLane.com, (617) 523-4666
  • Transcript

    • 1. ONEin3Money Jennifer Lane CFP [email_address] @jennplane ONEin3Money.org
    • 2. Jennifer Lane CFP <ul><li>[email_address] </li></ul><ul><li>NECN, Tuesdays at 5:00, 6:30 and 8:30 pm </li></ul><ul><li>Author: The Complete Idiots Guide to Protecting your 401(k) and IRA </li></ul><ul><li>Jenniferscompass.typepad.com </li></ul><ul><li>@jennplane </li></ul>ONEin3Money.org
    • 3. ONEin3MONEY <ul><li>Smart Budgeting and Goal Setting </li></ul><ul><li>Paying off Credit Card/Student Loan Debt </li></ul><ul><li>Improving Your Credit Score </li></ul><ul><li>Home buying </li></ul><ul><li>Retirement Planning </li></ul><ul><li>Frugal Living in a Fun City </li></ul>ONEin3Money.org
    • 4. Smart Budgeting and Goal Setting <ul><li>Prioritize and write down your goals </li></ul><ul><li>Plan Monthly Money Meetings </li></ul><ul><li>Set-up Money Baskets for direct deposit </li></ul><ul><li>Track your spending – MINT.com </li></ul>ONEin3Money.org
    • 5. Your Questions <ul><li>How do you save when you have nothing? </li></ul><ul><li>How to afford to attend school when a loan doesn't cover the entire cost. </li></ul><ul><li>How much should a person pay for rent? I feel like rent costs here are way more than my salary allows. </li></ul>ONEin3Money.org
    • 6. Paying off Credit Card/Student Loan Debt <ul><li>Use 2 to 3 cards max </li></ul><ul><li>Check credit report www.AnnualCreditReport.com </li></ul><ul><li>Drop all credit cards with fees </li></ul><ul><li>Pay credit card balance each payday </li></ul>ONEin3Money.org
    • 7. Snowflake your Savings <ul><li>Snowflakes are small, </li></ul><ul><ul><li>but they add up quickly </li></ul></ul><ul><li>Collect and deposit once a week </li></ul>ONEin3Money.org
    • 8. Lunch – 25 minutes and $6.99 per month ONEin3Money.org
    • 9. Snowball your Debt <ul><li>Pick a fixed monthly amount…keep it rolling towards your debt until everything is paid </li></ul>ONEin3Money.org
    • 10. Your Debt Snowball <ul><li>Smallest account first </li></ul><ul><li>Then pay all down to 50% of the limit </li></ul><ul><li>Then all down to 35% of limit </li></ul><ul><li>Then focus on highest interest </li></ul>ONEin3Money.org
    • 11. Improving Your Credit Score <ul><li>Pay on time </li></ul><ul><li>Pay bill from the credit card site; Not from bill pay </li></ul><ul><li>Keep balances below 35% </li></ul><ul><li>Mix of credit accounts – utilities, credit card, loans </li></ul><ul><li>Free score CreditKarma.com </li></ul>ONEin3Money.org
    • 12. Your Questions <ul><li>How to get first credit card </li></ul><ul><li>Recommendations on credit cards that are &quot;better&quot; than others in terms of getting rewards and saving money? </li></ul>ONEin3Money.org
    • 13. Frugal Living in a Fun City <ul><li>Prioritize </li></ul><ul><li>Check withholding www.irs.gov </li></ul><ul><li>Limit ATM to once per week </li></ul><ul><li>Always shop with a list </li></ul><ul><li>Limit housing to 30% of pay </li></ul><ul><li>ShoeStringMag.com </li></ul>ONEin3Money.org
    • 14. Home buying <ul><li>Better to buy – IF: </li></ul><ul><ul><li>Will live there 5+ years </li></ul></ul><ul><ul><li>Rent is greater than: </li></ul></ul><ul><ul><ul><li>Mortgage </li></ul></ul></ul><ul><ul><ul><li>+ condo fee/maintenance </li></ul></ul></ul><ul><ul><ul><li>+ real estate taxes </li></ul></ul></ul><ul><ul><ul><li>- mortgage interest savings </li></ul></ul></ul><ul><ul><ul><li>if planning move within 7 years, calc cost to sell </li></ul></ul></ul><ul><li>Boston Home Center for info and programs </li></ul>ONEin3Money.org
    • 15. Retirement Planning <ul><li>Ok to start small </li></ul><ul><li>Open a Roth IRA </li></ul><ul><li>www.Morningstar.com for mutual fund info </li></ul><ul><li>Use no-load Target Date Funds </li></ul><ul><li>How is your broker compensated? </li></ul>ONEin3Money.org
    • 16. Resources <ul><li>AnnualCreditReport.com </li></ul><ul><li>Cityofboston.gov/dnd/bhc/ (Boston Home Center) </li></ul><ul><li>MINT.com </li></ul><ul><li>ShoeStringMag.com </li></ul><ul><li>Morningstar.com </li></ul><ul><li>JennifersCompass.typepad.com </li></ul><ul><li>ONEin3Money.org </li></ul>ONEin3Money.org

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