Taking Charge (2nd ed.), Chapter 3.1
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Taking Charge (2nd ed.), Chapter 3.1 Presentation Transcript

  • 1. Handling Your Money Wisely Section 3.1: Financing Your Life Taking Charge : Chapter 3 © 2010 TSTC Publishing
  • 2. Know Your Current Habits
    • Write down each expense as you spend your money
    • Write out a personal net worth statement
    • Apply SMART to your financial situation
    © 2010 TSTC Publishing
  • 3. Financial Goals
    • Write out your financial goals
      • Where your money needs to go
      • What you would like to put your money toward
    • Reevaluate your net worth and financial goals annually
    © 2010 TSTC Publishing
  • 4. Budgeting Basics
    • Fixed expenses
      • Bills, debts
    • Variable expenses
      • Household items, groceries
    • Discretionary expenses
      • Movies, restaurants, CDs
    © 2010 TSTC Publishing
  • 5. Saving for a Rainy Day
    • Save at least 10% of income
    • Save your spare change in a jar
    • Open a savings account
    © 2010 TSTC Publishing
  • 6. Stretching Your Dollar
    • Be creative
    • Clip coupons
    • Buy used books
    • Take advantage of free online downloads and shareware offers
    • Watch the bulletin boards at school
    © 2010 TSTC Publishing
  • 7. Handling Credit
    • A credit card is not free money
    • Pay in full monthly to avoid finance charges
    • Pay attention to interest rates and annual fees
    • Limit the number of cards you have
    © 2010 TSTC Publishing
  • 8. Protecting Your Identity
    • Never keep your Social Security card in your wallet
    • Buy a shredder and shred all mail or unwanted documents that contain personal information
    • Don’t leave your checkbook, credit cards or mail with personal information lying around
    • Be aware of putting personal information on social networking sites
    © 2010 TSTC Publishing
  • 9. Further Reflection
    • Make a personal budget:
    • How did making a budget make you feel?
    • Where does the majority of your money go?
    • Where do you want your money to go?
    © 2010 TSTC Publishing
  • 10. Additional Resources
    • Mint Refreshing Money Management
    • www.mint.com
    • Suze Orman
    • www.suzeorman.com
    • The Motley Fool
    • www.fool.com
    © 2010 TSTC Publishing