ONEin3Money Jennifer Lane CFP [email_address] @jennplane ONEin3Money.org
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>Aut...
ONEin3MONEY <ul><li>Smart Budgeting and Goal Setting </li></ul><ul><li>Paying off Credit Card/Student Loan Debt </li></ul>...
Smart Budgeting and Goal Setting <ul><li>Prioritize and write down your goals </li></ul><ul><li>Plan Monthly Money Meeting...
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...
Paying off Credit Card/Student Loan Debt <ul><li>Use 2 to 3 cards max </li></ul><ul><li>Check credit report  www.AnnualCre...
Snowflake your Savings <ul><li>Snowflakes are small,  </li></ul><ul><ul><li>but they add up quickly </li></ul></ul><ul><li...
Lunch – 25 minutes and $6.99 per month ONEin3Money.org
Snowball your Debt <ul><li>Pick a fixed monthly amount…keep it rolling towards your debt until everything is paid </li></u...
Your Debt Snowball <ul><li>Smallest account first </li></ul><ul><li>Then pay all down to 50% of the limit </li></ul><ul><l...
Improving Your Credit Score <ul><li>Pay on time </li></ul><ul><li>Pay bill from the credit card site; Not from bill pay </...
Your Questions <ul><li>How to get first credit card </li></ul><ul><li>Recommendations on credit cards that are &quot;bette...
Frugal Living in a Fun City <ul><li>Prioritize </li></ul><ul><li>Check withholding www.irs.gov  </li></ul><ul><li>Limit AT...
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 ...
Retirement Planning <ul><li>Ok to start small </li></ul><ul><li>Open a Roth IRA </li></ul><ul><li>www.Morningstar.com for ...
Resources <ul><li>AnnualCreditReport.com </li></ul><ul><li>Cityofboston.gov/dnd/bhc/ (Boston Home Center) </li></ul><ul><l...
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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 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
  • OnEin3 Money 01 20 10

    1. 1. ONEin3Money Jennifer Lane CFP [email_address] @jennplane ONEin3Money.org
    2. 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. 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. 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. 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. 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. 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. 8. Lunch – 25 minutes and $6.99 per month ONEin3Money.org
    9. 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. 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. 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. 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. 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. 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. 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. 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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