Topics covered in the last of the 6-part series include: managing job loss, essential documents, record-keeping, and the basics of investing. Money Matters was created by the Athens-Clarke County Library. Money Matters is part of Smart investing @ your library®, and is brought to you by a joint grant from the American Library Association and FINRA, the Financial Regulatory Authority Foundation.

1. Money Matters
Class 6

2. Managing Job Loss
 Plan Ahead
 Understand your Company’s Benefits
 Understand your current Financial
Situation

3. Planning Ahead
 Build an Emergency Fund: 3-6 month
expenses
 Develop a budget
 Contribute to a 401(k), if available
 Do not take loans from your 401(k)
 Use credit wisely

4. Company Benefits
 What benefits do I have?
 What are the time frames for continuing
coverage?
 How do I continue my medical coverage
under cobra?
 What job loss services are available?
 How do I get unemployment benefits?

5.  Do I qualify for public assistance such as
food stamps?
 Am I entitled to sick pay? Vacation Pay?
Severance Pay?
 How can I rollover my 401(K) plan?

6. Current Financial Status
 Assess your short-term situation

Make a list of all financial resources
• Cash
• Savings
• Severance pay
• Unemployment benefits

Make a list of how much you owe
• Mortgage / rent
• Credit cards
• Loans
• Other debt

7.  Set-up a short-term budget
 What is your bottom-line monthly needs to
pay your bills
 Cut expenses in every way possible
 Make arrangements with creditors to reduce
payments temporarily
 Project your cash flow. How long can you
afford to be out of work?
 Use all FSA, before your employment
ends
 Spend and Invest lump sums wisely

8. What to avoid
 Using Credit cards

Increasing debt
 Filing for bankruptcy
 Using your 401(k) savings

9. Essential Documents
 Personal Identification
 Legal
 Death
 Work
 School
 Banking / Financial

10. Personal Identification
 Driver’s License
 Green Card
 Birth Certificate
 Passport
 Social Security Card

11. Legal Documents
 Legal Proceedings
 Contracts
 Warranties
 Marriage Certificate
 Divorce Decree

12. Death Documents
 Will
 Funeral Arrangements
 Living Will
 Death Certificate

13. Work Documents
 History of work experience
 Information about past employers
 Name

Address
 Phone Number
 Position Held / Duties Performed
 Training

14. School Documents
 Transcripts

Photocopy or original
 Children

Immunization Record
 Report Cards
 IEPs

Names / Addresses of School Attended

15. Banking / Financial Documents
 Checking accounts
 Savings accounts
 IRA statements
 401(k) statements
 Investment Records
 Account Disclosures
 Account ID info
 Monthly statements

16. How Long to Keep Records
TYPE TIME
Taxes 7 years
IRA contributions Permanently
Retirement Plan Statements Permanently
Bank Records Permanently - Statement
Pay Check Stubs 1 Year
Bills 1 year to permanently
Brokerage Statements Until you sell the securities
Credit Card Statements 7 years

17. Long-Term Storage
 Fireproof Box at home or safe-deposit Box
at your bank
 To prevent Identity Theft
 Shred all documents with account numbers
and personal identification numbers

18. Identity Theft
Identity theft occurs when someone obtains
your personal information and use it to
commit fraud.
8 million Americans are victims each year

19. Protect Your ID
 Guard your information online
 Clear your logins and passwords
 Change your logins and passwords monthly
 Pay for online purchases with a credit card
 Check your bank and credit card statements
 Verify your mailing address with the post office
and financial institutions
 Beware of phishing scams
 Monitor your credit report
 Shred and destroy sensitive documents

20. Online Security
 Safe Guard

Account Numbers

Personal Identification Numbers
 Change Your Passwords Frequently
 Be careful using Wi-Fi
 Avoid going to your account on computers that are not
your own
 Install firewalls and spyware on your computers
 Be sure Financial web pages are secure and encrypted
 Log Out Completely
 If you think your security has been breached. Contact
your financial institutions immediately.

21. Investing

22. Investing
 The act of choosing products and
strategies to make that money grow!
 The prospective of time:
 Short-term (1-2 years), savings

Mid-to-Long term (3-10 years), investing

26. Quote of the Day
"A big part of financial freedom is having
your heart and mind free from worry about
the what-ifs of life.”
-Suze Orman