DOLLARS and  DECISIONS www.youtube.com/browncollegeguy Money matters for living independently in the “ Real World”  Tou Le...
www.myspace.com/browncollegeguy www.youtube.com/browncollegeguy
<ul><li>Common Money Mistakes </li></ul>www.youtube.com/browncollegeguy
<ul><li>Overspending </li></ul>www.youtube.com/browncollegeguy
<ul><li>Over Borrowing </li></ul>www.youtube.com/browncollegeguy
<ul><li>Not Organized </li></ul>www.youtube.com/browncollegeguy
<ul><li>Not Making a Plan! </li></ul>www.youtube.com/browncollegeguy
Is it easier to  GET  money or to  KEEP  money? A Fundamental Question: www.youtube.com/browncollegeguy
Education is Important! www.youtube.com/browncollegeguy
www.youtube.com/browncollegeguy 1440 Northland Drive Mendota Heights, MN 55120 651-905-3582, 800-627-6966 www.myspace.com/...
A Non-Traditional Education <ul><li>Career Oriented Programs </li></ul><ul><li>Real World Learning </li></ul><ul><li>Small...
Brown College Services <ul><li>Financial Aid  -  personalized tuition planning assistance </li></ul><ul><li>Career Service...
School of Broadcasting <ul><li>Radio Broadcasting </li></ul><ul><ul><li>Associate of Applied Science Degree – 18 months </...
School of Technology <ul><li>Information Technology </li></ul><ul><li>  Bachelor of Science Degree – 36 months </li></ul><...
School of Design <ul><li>Visual Communication  </li></ul><ul><ul><ul><li>Multimedia  </li></ul></ul></ul><ul><ul><ul><li>G...
Other Programs <ul><li>Criminal Justice   Bachelor of Science Degree – 36 months  Associate of Applied Science Degree – 18...
Associate Degrees Offered Culinary Arts Program – 15 months Patisserie and Baking Program – 15 months
DOLLARS and  DECISIONS www.youtube.com/browncollegeguy Money matters for living independently in the “ Real World”  Tou Le...
<ul><li>to pay your bills </li></ul>GETTING SKILLS www.youtube.com/browncollegeguy
To get money:  You must do something  And Someone else must do something too! SUPPLY & DEMAND www.youtube.com/browncollege...
Work Borrow Other? How do you get money? www.myspace.com/browncollegeguy www.youtube.com/browncollegeguy
Your  SKILLS The  supply & demand  for  your  SKILLS Your ability to  sell   your  SKILLS What determines  YOUR   income? ...
$260  week $1,127  month $13,250 year $6.50   an hour Show up skills People skills Do something skills www.youtube.com/bro...
$500  week $2,167  month $26,000 year $12.50   an hour HS Diploma/GED Certificate/License Associates Degree www.youtube.co...
Typical Paycheck at  $26,000   per year www.youtube.com/browncollegeguy
$1,200  week $5,200  month $62,400 year $30.00   an hour Advanced Skill High Demand Career Straight Cash Homey! www.youtub...
It’s up to  YOU Your  Decisions Your  Priorities To Keep Money: www.youtube.com/browncollegeguy
<ul><li>Keeping </li></ul><ul><li>is easier than </li></ul><ul><li>Getting   </li></ul><ul><li>money </li></ul>www.youtube...
<ul><li>The   B   Word </li></ul>BUDGET www.youtube.com/browncollegeguy
<ul><li>A Fundamental Concept </li></ul>Trade Off The cost of what you give up  EVERY TIME  you make a   CHOICE www.youtub...
<ul><li>Bye Bye Bye…Money </li></ul><ul><li>Rent </li></ul><ul><li>Utilities </li></ul><ul><li>Cable/Satellite </li></ul><...
<ul><li>SHELTER </li></ul>30%   or less  of income should be spent on shelter www.youtube.com/browncollegeguy
<ul><li>Rent </li></ul>www.youtube.com/browncollegeguy $  1200 West Sub. E ast Sub. South Sub. North Sub. St. Paul Mpls $ ...
<ul><li>Food </li></ul>Average monthly cost of food at home at four cost levels USDA Family Food Plans www.youtube.com/bro...
<ul><li>Saving Money </li></ul>www.youtube.com/browncollegeguy Your Personal Activity Monthly Savings Annual Savings Stop ...
<ul><li>Saving Early Pays </li></ul>Jack Ages 21 - 30 $0.00  Ages 31 - 65 $2,000 per year for 35 years  Total Investment  ...
<ul><li>Can you guarantee a 9% return on your investment? </li></ul>The market does fluctuate from year to year BUT 10% ha...
<ul><li>Saving money pays! </li></ul>$200 Monthly ($50 a Week)   (Savings over 35 years) 3% $148,683 6% $286,366 12% $1.2 ...
<ul><li>Smart Shopping </li></ul>www.youtube.com/browncollegeguy
<ul><li>Parents Fridge or Dorm Meal Plan </li></ul>www.youtube.com/browncollegeguy
<ul><li>Bargain Shop </li></ul>www.youtube.com/browncollegeguy
<ul><li>Clip Coupons </li></ul>www.youtube.com/browncollegeguy
NEVER ,   EVER   go to the  grocery store hungry www.youtube.com/browncollegeguy
<ul><li>Everyday Money Tips </li></ul>www.youtube.com/browncollegeguy
WAIT   one week for anything nonessential www.youtube.com/browncollegeguy
DO NOT   let pleasurable past times become burdensome habits  www.youtube.com/browncollegeguy
CHECKS are the best, real money next www.youtube.com/browncollegeguy
COMPARISON SHOP www.youtube.com/browncollegeguy
72 divided by the interest rate gives you the approximate number of years it will take your money to double 3% 24 years 6%...
The ENEMY of SAVING Over-Spending and Debt www.youtube.com/browncollegeguy
We want what we want when we want it whether we can  afford it or not www.youtube.com/browncollegeguy Do you  NEED  a Cred...
<ul><li>Quick Facts for Teenagers: </li></ul>78% of college students have credit cards Average balance on card is $2,800 1...
Which plastic is right for a teenager?  Source:  www.bankrate.com www.youtube.com/browncollegeguy Type of card Pros Cons D...
<ul><li>Credit Card Woes? </li></ul>Increased interest rates  Late fees add up Reduced credit limit Future credit limitati...
<ul><li>How credit card companies make $$$: </li></ul>Interest on unpaid debt % of purchase price (typically 1 - 4%) Annua...
A   $6,297   credit card balance www.youtube.com/browncollegeguy Credit card Best Buy Sears Discover Visa Macy’s Master Ca...
<ul><li>Digging out of debt </li></ul>If You Pay  Each Month The Minimum $10 Extra Monthly  Payment $200 or less $210 Inte...
When you live on your own www.youtube.com/browncollegeguy
<ul><li>Good credit helps </li></ul>www.youtube.com/browncollegeguy
<ul><li>Rent an Apartment </li></ul>www.youtube.com/browncollegeguy
<ul><li>Cell phones / cable </li></ul>www.youtube.com/browncollegeguy
<ul><li>Insurance Rates </li></ul>www.youtube.com/browncollegeguy
<ul><li>Get Better Jobs </li></ul>www.youtube.com/browncollegeguy
<ul><li>Buy a Home </li></ul>www.youtube.com/browncollegeguy
<ul><li>How good is your credit? </li></ul>www.youtube.com/browncollegeguy What makes up your credit score? Source: myFICO...
<ul><li>Establishing good credit </li></ul>Keep a personal checking & savings Get annual copies of your credit report Get ...
<ul><li>SHOW ME </li></ul><ul><li>THE MONEY!!! </li></ul><ul><li>Ways to help  </li></ul><ul><li>you pay for college </li>...
<ul><li>Planning for College Costs </li></ul><ul><li>Determine your need </li></ul><ul><ul><li>be inclusive of all costs <...
www.youtube.com/browncollegeguy
<ul><li>Tuition Reimbursement </li></ul>www.youtube.com/browncollegeguy
<ul><li>Scholarships </li></ul>There are literally  BILLIONS  of  DOLLARS   that go unclaimed   every year! www.youtube.co...
<ul><li>Search the Web </li></ul>www.studentscholarshipsearch.com www.finaid.org www.fastweb.com www.4scholarships.com www...
Tou Lee Yang 1440 Northland Drive Mendota Heights, MN 55120 651-905-3582, 800-627-6966 x582 [email_address] www.myspace.co...
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Dollars and Decisions

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presentation on money management and quick budgeting facts for teenagers. facts from personal finance to financial aid for college. content written by Byron Wolt, digitally re-imagined by yours truly

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  • Dollars and Decisions

    1. 1. DOLLARS and DECISIONS www.youtube.com/browncollegeguy Money matters for living independently in the “ Real World” Tou Lee Yang
    2. 2. www.myspace.com/browncollegeguy www.youtube.com/browncollegeguy
    3. 3. <ul><li>Common Money Mistakes </li></ul>www.youtube.com/browncollegeguy
    4. 4. <ul><li>Overspending </li></ul>www.youtube.com/browncollegeguy
    5. 5. <ul><li>Over Borrowing </li></ul>www.youtube.com/browncollegeguy
    6. 6. <ul><li>Not Organized </li></ul>www.youtube.com/browncollegeguy
    7. 7. <ul><li>Not Making a Plan! </li></ul>www.youtube.com/browncollegeguy
    8. 8. Is it easier to GET money or to KEEP money? A Fundamental Question: www.youtube.com/browncollegeguy
    9. 9. Education is Important! www.youtube.com/browncollegeguy
    10. 10. www.youtube.com/browncollegeguy 1440 Northland Drive Mendota Heights, MN 55120 651-905-3582, 800-627-6966 www.myspace.com/browncollegeguy
    11. 11. A Non-Traditional Education <ul><li>Career Oriented Programs </li></ul><ul><li>Real World Learning </li></ul><ul><li>Small Classes </li></ul><ul><li>Online Learning Option </li></ul><ul><li>Flexible Schedules </li></ul><ul><li>Admission Requirements </li></ul><ul><li>ACT/SAT Not Required </li></ul><ul><li>Personal Interview </li></ul>Bachelor Degrees 36 Months Associates Degrees 18 Months www.youtube.com/browncollegeguy
    12. 12. Brown College Services <ul><li>Financial Aid - personalized tuition planning assistance </li></ul><ul><li>Career Services - job placement & career prep </li></ul><ul><li>Internships - for real world career experience </li></ul><ul><li>Wireless Campus - student laptop program </li></ul><ul><li>Student Services - rideshare, housing, activities, etc </li></ul><ul><li>Study Abroad - London, Paris, Florence, & Dubai </li></ul>www.youtube.com/browncollegeguy
    13. 13. School of Broadcasting <ul><li>Radio Broadcasting </li></ul><ul><ul><li>Associate of Applied Science Degree – 18 months </li></ul></ul><ul><li>Television Production </li></ul><ul><li>Associate of Applied Science Degree – 18 months </li></ul>www.youtube.com/browncollegeguy
    14. 14. School of Technology <ul><li>Information Technology </li></ul><ul><li> Bachelor of Science Degree – 36 months </li></ul><ul><li>Network Development </li></ul><ul><ul><li>Associate of Applied Science Degree – 18 months </li></ul></ul><ul><li>Software Development </li></ul><ul><ul><li>Associate of Applied Science Degree – 18 months </li></ul></ul><ul><li>Game Design and Development </li></ul><ul><ul><li>Bachelor of Science Degree – 36 months </li></ul></ul>www.youtube.com/browncollegeguy
    15. 15. School of Design <ul><li>Visual Communication </li></ul><ul><ul><ul><li>Multimedia </li></ul></ul></ul><ul><ul><ul><li>Graphic Design </li></ul></ul></ul><ul><ul><li>Bachelor of Science Degree – 36 months </li></ul></ul><ul><ul><li>Associate of Applied Science Degree – 18 months </li></ul></ul><ul><li>Interior Design </li></ul><ul><ul><li>Bachelor of Science Degree – 36 months </li></ul></ul><ul><li>Digital Photography Bachelor of Science Degree – 36 months </li></ul>www.youtube.com/browncollegeguy
    16. 16. Other Programs <ul><li>Criminal Justice Bachelor of Science Degree – 36 months Associate of Applied Science Degree – 18 months </li></ul><ul><li>Business Management </li></ul><ul><ul><li>Bachelor of Science Degree – 36 months </li></ul></ul>www.myspace.com/browncollegeguy
    17. 17. Associate Degrees Offered Culinary Arts Program – 15 months Patisserie and Baking Program – 15 months
    18. 18. DOLLARS and DECISIONS www.youtube.com/browncollegeguy Money matters for living independently in the “ Real World” Tou Lee Yang
    19. 19. <ul><li>to pay your bills </li></ul>GETTING SKILLS www.youtube.com/browncollegeguy
    20. 20. To get money: You must do something And Someone else must do something too! SUPPLY & DEMAND www.youtube.com/browncollegeguy
    21. 21. Work Borrow Other? How do you get money? www.myspace.com/browncollegeguy www.youtube.com/browncollegeguy
    22. 22. Your SKILLS The supply & demand for your SKILLS Your ability to sell your SKILLS What determines YOUR income? www.youtube.com/browncollegeguy
    23. 23. $260 week $1,127 month $13,250 year $6.50 an hour Show up skills People skills Do something skills www.youtube.com/browncollegeguy
    24. 24. $500 week $2,167 month $26,000 year $12.50 an hour HS Diploma/GED Certificate/License Associates Degree www.youtube.com/browncollegeguy
    25. 25. Typical Paycheck at $26,000 per year www.youtube.com/browncollegeguy
    26. 26. $1,200 week $5,200 month $62,400 year $30.00 an hour Advanced Skill High Demand Career Straight Cash Homey! www.youtube.com/browncollegeguy
    27. 27. It’s up to YOU Your Decisions Your Priorities To Keep Money: www.youtube.com/browncollegeguy
    28. 28. <ul><li>Keeping </li></ul><ul><li>is easier than </li></ul><ul><li>Getting </li></ul><ul><li>money </li></ul>www.youtube.com/browncollegeguy
    29. 29. <ul><li>The B Word </li></ul>BUDGET www.youtube.com/browncollegeguy
    30. 30. <ul><li>A Fundamental Concept </li></ul>Trade Off The cost of what you give up EVERY TIME you make a CHOICE www.youtube.com/browncollegeguy
    31. 31. <ul><li>Bye Bye Bye…Money </li></ul><ul><li>Rent </li></ul><ul><li>Utilities </li></ul><ul><li>Cable/Satellite </li></ul><ul><li>Car </li></ul><ul><ul><li>Insurance </li></ul></ul><ul><ul><li>Fuel </li></ul></ul><ul><ul><li>Maintenance </li></ul></ul><ul><li>Phone </li></ul><ul><ul><li>Cell Phone </li></ul></ul><ul><ul><li>Internet </li></ul></ul><ul><ul><li>Long Distance </li></ul></ul><ul><ul><li>Text Messages </li></ul></ul><ul><li>Food </li></ul><ul><ul><li>Dine In </li></ul></ul><ul><ul><li>Dine Out </li></ul></ul><ul><li>Clothing/shopping </li></ul><ul><li> Designer vs. discounted brands </li></ul><ul><li>Personal </li></ul><ul><ul><li>Grooming </li></ul></ul><ul><ul><li>Wellness </li></ul></ul><ul><li>Entertainment </li></ul><ul><ul><li>Going Out </li></ul></ul><ul><ul><li>Dating </li></ul></ul><ul><ul><li>Evil Vices </li></ul></ul>Credit Cards www.youtube.com/browncollegeguy
    32. 32. <ul><li>SHELTER </li></ul>30% or less of income should be spent on shelter www.youtube.com/browncollegeguy
    33. 33. <ul><li>Rent </li></ul>www.youtube.com/browncollegeguy $ 1200 West Sub. E ast Sub. South Sub. North Sub. St. Paul Mpls $ 1300 $ 950 $ 716 $ 816 $ 1000 2 bdr $ 1000 $ 700 $ 800 $ 607 $ 650 $ 800 1 bdr $ 605 $ 494 $ 515 $ 428 $ 458 $ 465 studio Approximate average cost of an apartment Twin Cities Metro Area Source: Based on averages from Rent.com
    34. 34. <ul><li>Food </li></ul>Average monthly cost of food at home at four cost levels USDA Family Food Plans www.youtube.com/browncollegeguy
    35. 35. <ul><li>Saving Money </li></ul>www.youtube.com/browncollegeguy Your Personal Activity Monthly Savings Annual Savings Stop dining out $45 $540 Wash your own car $12 $144 Movie rental vs. monthly movie $11 $132 Regular coffee vs. cappuccino $40 $480 Miscellaneous Personal $15 $180 TOTAL $123 $1,476
    36. 36. <ul><li>Saving Early Pays </li></ul>Jack Ages 21 - 30 $0.00 Ages 31 - 65 $2,000 per year for 35 years Total Investment $70,000 Jill Ages 21 - 30 $2,000 per year for 9 years Ages 31 - 65 $0.00 Total Investment $18,000 Total at age 65 Jack $470,249 Jill $570,471 Example calculated at 9% interest www.youtube.com/browncollegeguy
    37. 37. <ul><li>Can you guarantee a 9% return on your investment? </li></ul>The market does fluctuate from year to year BUT 10% has been the annual average return for the stock market for almost 100 years NO www.youtube.com/browncollegeguy
    38. 38. <ul><li>Saving money pays! </li></ul>$200 Monthly ($50 a Week) (Savings over 35 years) 3% $148,683 6% $286,366 12% $1.2 million www.youtube.com/browncollegeguy
    39. 39. <ul><li>Smart Shopping </li></ul>www.youtube.com/browncollegeguy
    40. 40. <ul><li>Parents Fridge or Dorm Meal Plan </li></ul>www.youtube.com/browncollegeguy
    41. 41. <ul><li>Bargain Shop </li></ul>www.youtube.com/browncollegeguy
    42. 42. <ul><li>Clip Coupons </li></ul>www.youtube.com/browncollegeguy
    43. 43. NEVER , EVER go to the grocery store hungry www.youtube.com/browncollegeguy
    44. 44. <ul><li>Everyday Money Tips </li></ul>www.youtube.com/browncollegeguy
    45. 45. WAIT one week for anything nonessential www.youtube.com/browncollegeguy
    46. 46. DO NOT let pleasurable past times become burdensome habits www.youtube.com/browncollegeguy
    47. 47. CHECKS are the best, real money next www.youtube.com/browncollegeguy
    48. 48. COMPARISON SHOP www.youtube.com/browncollegeguy
    49. 49. 72 divided by the interest rate gives you the approximate number of years it will take your money to double 3% 24 years 6% 12 years 12% 6 years The Rule of 72 www.youtube.com/browncollegeguy
    50. 50. The ENEMY of SAVING Over-Spending and Debt www.youtube.com/browncollegeguy
    51. 51. We want what we want when we want it whether we can afford it or not www.youtube.com/browncollegeguy Do you NEED a Credit Card?
    52. 52. <ul><li>Quick Facts for Teenagers: </li></ul>78% of college students have credit cards Average balance on card is $2,800 1 out of 10 college students carry a balance of more than $7,800 Nearly 94,000 people under the age of 25 filed for bankruptcy 2004 www.youtube.com/browncollegeguy
    53. 53. Which plastic is right for a teenager? Source: www.bankrate.com www.youtube.com/browncollegeguy Type of card Pros Cons Debit card Uses money in checking or savings account. Easy to set up. Risk of overdrafting account and incurring fees. Does not build credit history. Prepaid or stored-value card Spending limited to amount loaded on card. Online checking of balances and spending. Authorized adults can load funds. Employers can load wages onto some cards. Major credit card branded cards can be used many places. Fees are charged for activation, loading money, monthly maintenance, many more actions. Does not build credit history. Joint credit card Builds credit history. Parent and teen responsible for debt. Secured card Credit limit set by savings account balance. Builds credit history. May have high APR. Authorized user Easy to set up. Teen can piggyback on parent's credit history. Parent solely responsible for debt. Potentially puts parent's credit score at risk.
    54. 54. <ul><li>Credit Card Woes? </li></ul>Increased interest rates Late fees add up Reduced credit limit Future credit limitations www.youtube.com/browncollegeguy
    55. 55. <ul><li>How credit card companies make $$$: </li></ul>Interest on unpaid debt % of purchase price (typically 1 - 4%) Annual fees Selling your information www.youtube.com/browncollegeguy
    56. 56. A $6,297 credit card balance www.youtube.com/browncollegeguy Credit card Best Buy Sears Discover Visa Macy’s Master Card Annual interest 22.6% 21% 19.8% 18% 18% 17.7% Balance $300 $800 $1,100 $1,966 $300 $1,831
    57. 57. <ul><li>Digging out of debt </li></ul>If You Pay Each Month The Minimum $10 Extra Monthly Payment $200 or less $210 Interest You Pay $9,570 $8,504 Source: Bankcards of America $6,297 balance Total Value You Will Pay $15,867 $8,504 Time To Pay Off 23 years 10 months 3 years 5 months www.youtube.com/browncollegeguy
    58. 58. When you live on your own www.youtube.com/browncollegeguy
    59. 59. <ul><li>Good credit helps </li></ul>www.youtube.com/browncollegeguy
    60. 60. <ul><li>Rent an Apartment </li></ul>www.youtube.com/browncollegeguy
    61. 61. <ul><li>Cell phones / cable </li></ul>www.youtube.com/browncollegeguy
    62. 62. <ul><li>Insurance Rates </li></ul>www.youtube.com/browncollegeguy
    63. 63. <ul><li>Get Better Jobs </li></ul>www.youtube.com/browncollegeguy
    64. 64. <ul><li>Buy a Home </li></ul>www.youtube.com/browncollegeguy
    65. 65. <ul><li>How good is your credit? </li></ul>www.youtube.com/browncollegeguy What makes up your credit score? Source: myFICO.com FICO Score Lender Grade 760-850 A+ 700-759 A 660-699 B 620-659 C 580-619 D 500-579 F
    66. 66. <ul><li>Establishing good credit </li></ul>Keep a personal checking & savings Get annual copies of your credit report Get ONE credit card in your name Pay more than the minimum Pay bills before they are due www.youtube.com/browncollegeguy
    67. 67. <ul><li>SHOW ME </li></ul><ul><li>THE MONEY!!! </li></ul><ul><li>Ways to help </li></ul><ul><li>you pay for college </li></ul>www.youtube.com/browncollegeguy
    68. 68. <ul><li>Planning for College Costs </li></ul><ul><li>Determine your need </li></ul><ul><ul><li>be inclusive of all costs </li></ul></ul><ul><li>Determine your income </li></ul><ul><ul><li>Work – be realistic, factor study & personal time in setting hours </li></ul></ul><ul><ul><li>Savings </li></ul></ul><ul><ul><li>Loans, Grants, Scholarships </li></ul></ul><ul><ul><li>Parents </li></ul></ul><ul><li>Budget to be successful </li></ul>www.youtube.com/browncollegeguy
    69. 69. www.youtube.com/browncollegeguy
    70. 70. <ul><li>Tuition Reimbursement </li></ul>www.youtube.com/browncollegeguy
    71. 71. <ul><li>Scholarships </li></ul>There are literally BILLIONS of DOLLARS that go unclaimed every year! www.youtube.com/browncollegeguy
    72. 72. <ul><li>Search the Web </li></ul>www.studentscholarshipsearch.com www.finaid.org www.fastweb.com www.4scholarships.com www.scholarships.com www.youtube.com/browncollegeguy
    73. 73. Tou Lee Yang 1440 Northland Drive Mendota Heights, MN 55120 651-905-3582, 800-627-6966 x582 [email_address] www.myspace.com/browncollegeguy [email_address] browncollege582 www.youtube.com/browncollegeguy

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