Finances for Live in Professionals

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This is a presentation designed to inform "live in professionals" (Resident Directors, etc.) at higher education institutions how to manage their money better.

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  • Finances for Live in Professionals

    1. 1. MANAGING YOUR MONEY AS A LIVE-IN RYAN MCRAE, MALS, RD AT CSUSM (GO COUGARS) Wednesday, March 18, 2009
    2. 2. The Goals of this Presentation Be realistic about your $ Have a plan on how to: Get out of debt Or save money Detect and Defeat Temptation Wednesday, March 18, 2009
    3. 3. First things first: Fill out the FACTS part on the worksheet. 1 minute. Wednesday, March 18, 2009
    4. 4. What is your level of debt*? Low $1-$2,000 Mild $2,001-$4,000 Moderate $4,001-$7,000 High $7,001-$10,000 Extreme $10,000 + * This is bad debt, not school loans. Wednesday, March 18, 2009
    5. 5. How did you get here? Fill out the OBSTACLES part. Wednesday, March 18, 2009
    6. 6. Cost of debt? Wednesday, March 18, 2009
    7. 7. Relationships? Wednesday, March 18, 2009
    8. 8. TIME? Wednesday, March 18, 2009
    9. 9. PEACE? Wednesday, March 18, 2009
    10. 10. Happiness? Wednesday, March 18, 2009
    11. 11. FREEDOM? Wednesday, March 18, 2009
    12. 12. Your Health? Wednesday, March 18, 2009
    13. 13. Goals? Wednesday, March 18, 2009
    14. 14. STEP ONE Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    15. 15. $1,000 SAVED Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    16. 16. STEP TWO SNOWBALL THE DEBT Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    17. 17. Name of card How much you owe Minimum Payment Mastercard $400.00 $25.00 Gap $940.00 $67.00 Visa $750.00 $45.00 Total $2,090.00 $137.00 Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    18. 18. Name of card How much you owe Minimum Payment Mastercard $400.00 $25.00 Visa $750.00 $45.00 Gap $940.00 $67.00 Total $2,090.00 $137.00 Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    19. 19. How much you Minimum Name of card Payments owe Payment Mastercard $400.00 $25.00 $75.00 Visa $750.00 $45.00 $45.00 Gap $940.00 $67.00 $67.00 Total $2,090.00 $137.00 $187.00 Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    20. 20. How much you Minimum Name of card Payments owe Payment Mastercard $400.00 $25.00 $75.00 Visa $750.00 $45.00 $45.00 Gap $940.00 $67.00 $67.00 Total $2,090.00 $137.00 $187.00 Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    21. 21. How much you Minimum Name of card Payments owe Payment Mastercard $400.00 $25.00 $75.00 Visa $750.00 $45.00 $45.00+$75.00 Gap $940.00 $67.00 $67.00 Total $2,090.00 $137.00 $142.00 Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    22. 22. How much you Minimum Name of card Payments owe Payment Mastercard $400.00 $25.00 $75.00 Visa $750.00 $45.00 $45.00+$75.00 $67.00+ Gap $940.00 $67.00 $120.00 Total $2,090.00 $137.00 $75.00 Where do you start? [We start with Baby Steps] Wednesday, March 18, 2009
    23. 23. WHAT ABOUT SCHOOL LOANS? RULE OF THUMB: PAY PRIVATE FIRST. GOVERNMENT LAST. Wednesday, March 18, 2009
    24. 24. YOU ARE DEBT FREE. Wednesday, March 18, 2009
    25. 25. STRATEGIES AS A LIVE IN? Wednesday, March 18, 2009
    26. 26. use your food plan reduce your insurance bulk up F-R-E-E avoid retail therapy borrow STRATEGIES AS A LIVE IN? Wednesday, March 18, 2009
    27. 27. STEP THREE EMERGENCY: $5,000 Wednesday, March 18, 2009
    28. 28. ASIDE: NEVER COSIGN FOR A LOAN Wednesday, March 18, 2009
    29. 29. SAVE HOW? Wednesday, March 18, 2009
    30. 30. THIS IS HOW BABY STEPS. Wednesday, March 18, 2009
    31. 31. WHAT IS ONE THING YOU SPLURGE ON DURING THE WEEK? Wednesday, March 18, 2009
    32. 32. STARBUCKS: $3.00/DAY One week $21.00 One month $84.00 One year $1,008 Wednesday, March 18, 2009
    33. 33. SHOES: $45.00 PER WEEK One week $45.00 One month $180.00 One year $2,160 Wednesday, March 18, 2009
    34. 34. TAKE HALF AND PUT THAT TOWARDS DEBT Wednesday, March 18, 2009
    35. 35. MAKE SAVINGS AUTOMATIC. Wednesday, March 18, 2009
    36. 36. DIRECT DEPOSIT, LIKE INGDIRECT.COM Wednesday, March 18, 2009
    37. 37. Each paycheck (2/month), if you put $100 away you’d have in... 6 months $1,200 1 year $2,400 2 years $4,800 5 years $12,000 10 years $24,000 Wednesday, March 18, 2009
    38. 38. SAVE IT BEFORE YOU GET YOUR GREEDY HANDS ON YOUR MONEY Wednesday, March 18, 2009
    39. 39. FILL OUT YOUR GOAL SECTION Wednesday, March 18, 2009
    40. 40. THE ONLY WAY YOU CAN GET THESE GOALS ACCOMPLISHED IS BY BABY STEPS. . . Wednesday, March 18, 2009
    41. 41. THE END. Wednesday, March 18, 2009

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