Taking Charge (2nd ed.), Chapter 3.3

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Taking Charge (2nd ed.), Chapter 3.3

  1. 1. Handling Your Money Wisely Section 3.3: Professional Financial Management Taking Charge: Chapter 3 © 2010 TSTC Publishing
  2. 2. Career Money <ul><li>With more money comes more financial responsibility </li></ul><ul><li>Must manage </li></ul><ul><ul><li>Personal day-to-day finances </li></ul></ul><ul><ul><li>Short term savings </li></ul></ul><ul><ul><li>Retirement funds </li></ul></ul>© 2010 TSTC Publishing
  3. 3. Back to Basics <ul><li>Avoid temptation to buy, buy, buy just because you can </li></ul><ul><li>Loans come with high interest rates </li></ul><ul><li>Adjust income levels to your new salary </li></ul><ul><li>Remember student loan payments </li></ul>© 2010 TSTC Publishing
  4. 4. Back to Basics (cont.) <ul><li>Once you have a baseline of your income and debt obligations, think carefully about which items you most need to purchase </li></ul><ul><li>The 2010 Health care insurance reform changed many things, so be sure to find out what your new regulations are </li></ul>© 2010 TSTC Publishing
  5. 5. Tips <ul><li>Reevaluate your goals </li></ul><ul><li>Don’t spend it just because you make it </li></ul><ul><li>Form a slush fund </li></ul><ul><ul><li>A savings account from which money flows in and out </li></ul></ul>© 2010 TSTC Publishing
  6. 6. Tips <ul><li>Take advantage of company sponsored savings plan </li></ul><ul><li>Know your options </li></ul><ul><li>Don’t get penalized </li></ul>© 2010 TSTC Publishing
  7. 7. Tips <ul><li>Don’t forget insurance </li></ul><ul><li>Continue to pay cash </li></ul>© 2010 TSTC Publishing
  8. 8. Final Thoughts <ul><li>A solid plan of how to spend, invest and save will prevent financial stress </li></ul><ul><li>“ Fail to plan, plan to fail” </li></ul>© 2010 TSTC Publishing
  9. 9. Further Reflection <ul><li>What is a benefit and how does it work? </li></ul><ul><li>List as many consequences of debt that you can think of. </li></ul><ul><li>How have you learned to avoid debt? </li></ul>© 2010 TSTC Publishing
  10. 10. Additional Resources <ul><li>The Motley Fool </li></ul><ul><li>http:// www.fool.com </li></ul><ul><li>Share Builder </li></ul><ul><li>http:// www.sharebuilder.com </li></ul><ul><li>YOUNG MONEY </li></ul><ul><li>http:// www.youngmoney.com </li></ul>© 2010 TSTC Publishing

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