Class of 2012 Freshman Orientation
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Transcript of Class of 2012 Freshman Orientation
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Class of 2012Freshman
Orientation
Financial Literacy:“Me, Myself, My Money”
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Want to be more than $2,000,000 Richer?
Today I will show you how.
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Financial Literacy
– Making sound decisions about money
– Your decisions – no one else's
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Student Loans
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National Bank of Me
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Do the math!!!!
• Smartest investment you will ever make
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Video Break
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What happened to him??
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• 33M
• 17 Exotic Cars
• 12M Mansion
• Plane
• 2 Helicopters
• 200 People
• 1996
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What was his problem?
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It’s all about balance…
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How?
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Welcome Jill!
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Budgets
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Budgets
• Budgets are a tool that help you determine:– Where your money goes each month
– How much you need to save for that big ticket item
– Where you want to be in the future
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Budgets
• Easy• Keep you on track so that you don’t
spend more than you take in
• Otherwise
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• You won’t make it through the month
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• It’s all about balance
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Budgets
• Determine what your income is– Wages– Loans– Savings– Allowance
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Budgets
• Determine what your expenses are– Fixed– Flexible
•Needs•Wants
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Budgets
• Fixed– Rent – Car Payment
• Flexible– Meals– Clothing
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Budgets
• List everything– Books– School supplies– Meals and
entertainment– Rent– Car– Clothing– Telephone
– Personal care– Laundry– Tuition – Anything that you
spend your money on
– Be reasonable
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• Adjust if needed
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Budgets
• Success is having the money in be greater than the money out– Set aside for larger expenses
• Adjust when necessary• Be a smart consumer• Spend money wisely• Talk to someone if you get in trouble
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Thanks Jill!Thanks Jill!
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The Calendar
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• Adjust as necessary
• Be smart consumer – spend wisely
• $ in > $ out
• Talk to someone
• Life Skills
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Tracking…
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Bank Accounts
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• Just because the bank says……….
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THE GREAT TEMPTATION
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Welcome Brooke!
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THE GREAT TEMPTATION
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The Real Cost of Credit
• Purchase $ 1,000
• 17% card
• Minimum payments (2%) = $ 20 mo
• Total all payments $ 1,755
• Almost paid 2x
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Average American Household
$10,000 in credit card debt
Average CollegeStudent
$3,000 in credit card debt
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Thanks Brooke!Thanks Brooke!
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My Graduation Promise to You
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Part-time Job
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Compounding…
$5 per day, every day
10% rate of return
45 years later…
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$ 1,585,000
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Would that change your life?????
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http://www.myspace.com/benjaminbankes
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Resources
• www.360financialliteracy.org• www.feedthepig.org• www.myspace.com/benjaminbankes• www.cscpa.org – Financial Literacy –
Money Management Advice• www.finance.yahoo.com/banking-
budgeting
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Where’s the
$2,000,000?