Managing Money Managing Money The Source of Money

Managing Money: The Source of Money Problems • Most money problems result from spending

Managing Money: The Solution to Money Problems • Don’t spend more than you have

Three Steps to Financial Independence • Tell the truth about how much money you

Increasing “Money In”: Finding a Job • Describe your dream job • Brainstorm how

Increasing “Money In”: Finding a Job • Ask around • Make a list of

Decreasing “Money Out” • • • Redefine money Create a budget Monitor money out

Decreasing “Money Out” • • Cook for yourself Plan your wardrobe Conserve energy Keep

Take Charge of Your Credit Card • Do a First Step about money •

Money for the Future • Start saving now – Save for short-term, mid-term, and

Money for the Future • Invest after you have a cushion – Be safe

If You’re in Trouble… • Get specific data on: – How much you earn

College: You Can Pay for It • • • Loans Military funds Scholarships Social

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Managing Money

Three Steps to Financial Independence • Tell the truth about how much money you have and how much you spend • Commit to spend no more than you have • Begin saving money Copyright © Houghton Mifflin Company. All rights reserved. 4

Increasing “Money In”: Finding a Job • Describe your dream job • Brainstorm how to find or create it • Make a list of your work skills – Content skills – Transferable skills • Research jobs that match your skills Copyright © Houghton Mifflin Company. All rights reserved. 5

Increasing “Money In”: Finding a Job • Ask around • Make a list of places you’d like to work • Visit those places even if no job is advertised • Fill out applications and leave your résumé Copyright © Houghton Mifflin Company. All rights reserved. 6

Decreasing “Money Out” • • • Redefine money Create a budget Monitor money out Spend on purpose Look to the big-ticket items • Look to the smallticket items • Use the telephone • Do comparison shopping • Be aware of quality • Use coupons Copyright © Houghton Mifflin Company. All rights reserved. 7

Decreasing “Money Out” • • Cook for yourself Plan your wardrobe Conserve energy Keep your housing costs down • Pay cash • Fix things yourself • Notice what you spend on fun • Use public transportation • Postpone purchases Copyright © Houghton Mifflin Company. All rights reserved. 8

Money for the Future • Start saving now – Save for short-term, mid-term, and longterm goals – Save for emergencies • Build a “nest egg” equal to 6 months of living expenses • Save 10 percent of your take-home pay Copyright © Houghton Mifflin Company. All rights reserved. 10

Money for the Future • Invest after you have a cushion – Be safe – Do your homework – The sooner you start the better • Save on insurance • Be careful with contracts • Use credit wisely Copyright © Houghton Mifflin Company. All rights reserved. 11

If You’re in Trouble… • Get specific data on: – How much you earn – How much you spend • Be honest with creditors • Consider credit counseling • Get help collecting child support Copyright © Houghton Mifflin Company. All rights reserved. 12

College: You Can Pay for It • • • Loans Military funds Scholarships Social security Company assistance • • Grants Relatives Personal savings College work study Copyright © Houghton Mifflin Company. All rights reserved. 13