JA Personal Finance Volunteers Name Volunteers Title Volunteers

JA Personal Finance Volunteer’s Name Volunteer’s Title Volunteer’s Company

Plan to Earn Personal Finances – The practice of determining and managing a person’s financial needs and goals for the future.

Undecided that is OK!! National statistics vary but most state that at least 50% of entering college students are undecided about their majors. 50% – 70% of students change their majors at least once; most will change majors at least 3 times before they graduate. It is important to start thinking. Try new things. Find out what makes you want to wake up everyday!

Saving for Life Interest– Income earned from allowing someone else to use your money. Investing – Putting money into a venture that offers the possibility of earning more money. Saving – Setting aside a portion of current income for future use.

10 Financial Tips for Young People 1. Go to college. 6. Follow the golden rule. 2. Find your purpose. 7. Select your partner wisely 3. Begin retirement planning with your first job. 8. Be prepared for the unexpected. 4. Place a value on money. 9. Learn about investing or hire help. 5. Use the credit card sparingly. 10. Be thankful for your good fortune. **http: //www. bankrate. com/finance/retirement/10 -financial-tips-for-young-people-3. aspx

The Budget Game Budget – A spending plan for managing money during a given period of time. Opportunity cost – The next best alternative given up when a choice is made.

Think of a time when you thought you had enough money for a purchase, but it was more expensive than expected. Or a time when you wanted something but knew you didn’t have the money to buy it. The solution is making a realistic list of what expenses you have, build a budget, and stick to the budget – even if it requires a tough choice of giving up something you want.

Expense – Money spent to buy or do something. Fixed expense – Expenses that do not change from month to month such as rent. Income – Any money earned or received (wages or gifts). Variable expenses – Expenses that vary from month to month, such as entertainment, car repairs, or doctor bills.

Credit Choices Credit – The ability to buy goods or services now but pay later. Debt – Money owed. Interest – Payment for the use of money.

You will need credit at some point in your life. Car House Large Appliance/ Carpet If you make bad decisions with credit you will pay far more money than the original price. Additional cost comes from interest, fees, fines, and higher interest on future credit.

Savvy Consumer Risk Management – Predicting and minimizing the chance of financial loss. Public Service Announcement (PSA) – An advertisement sent through mass media with a message for the common good.

PSA Examples Louie play it safe – PSA http: //www. youtube. com/watch? v=n 6 DXk. VY 8 fzs&list=PLQgd. Sk 5 Hc. Lk. Wa 8 Mg. N 7 -u. Eg. Sz. LVOlc. XPw. K Best Friends "Fix at Four: Afternoon Stroll" PSA http: //www. youtube. com/watch? v=P 55 Gl. V 1 GY 1 Q&list=PLp. I 4 Dq. FKdfm. GX 2 s 1 s. X_tyuy. QROXQf. Fcf. B Think before you post PSA http: //www. youtube. com/watch? v=9 a 9 El 93 Uh. Ew&list=PLp. I 4 Dq. FKdfm. GX 2 s 1 s. X_tyuy. QROXQf. Fcf. B&index=2 Texting and Driving Prevention: 5 Seconds http: //www. youtube. com/watch? v=Fqg. Tw. Sq. DQYs&index=4&list=PLp. I 4 Dq. FKdfm. GX 2 s 1 s. X_tyuy. QROXQf. Fcf. B

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