FINANCIAL MANAGEMENT

29 AUG 05OC CARUSO

OVERVIEW

• BUDGETS• CREDIT CARDS• IDENTITY THEFT

IMPORTANT FINANCIAL TOPICS FOR NEW COLLEGE STUDENTS

BUDGETS

• WHAT YOU’RE GETTING– DON’T FORGET TAXES

• WHAT YOUR BILLS ARE– MAKE A LIST OF RECURRING BILLS

• HOW MUCH EACH BILL REQUIRES – SHOOT HIGH!

• MAKE IT FIT!!

FIGURE OUT:

BEWARE: PITFALLS!!

• FOOD• PARTYING

– BEER (IF YOU’RE 21…DIFFERENT BRIEF)– COVERCHARGES

• ENTERTAINMENT– MOVIES– VIDEOGAMES

CREDIT CARDS

• NOT FREE MONEY!!!• VISA WANTS YOU!

– TARGETS COLLEGE STUDENTS– NEW FINANCIAL INDEPENDENCE

• INTEREST RATES• HIDDEN CHARGES

Introduction

• While you probably can’t prevent identity theft entirely, you can minimize your risk

• By managing your personal information wisely, cautiously, and with an awareness of the issue, you can help guard against identity theft

Manage Your Personal Information

• Order a copy of your credit report from each of the three major credit bureaus

• Place passwords on your credit card, bank, and phone accounts

• Secure personal information in your home• Ask about information security procedures in your workplace

Maintain Vigilance

• Don’t give out personal information on the phone, through the mail, or over the Internet unless you know who you are dealing with

• Guard your mail and trash from theft• Before revealing identifying information, ask how it will be

used and secured and if it will be shared with others

Maintain Vigilance Continued

• Don’t carry your SSN card; leave it in a secure place

• Limit the identification information and the number of credit/debit cards that you carry

• Keep your purse and wallet in a safe place at work

Consider Your Computer

• Update virus protection software regularly

• Don’t download files or click on hyperlinks from strangers

• Use a firewall

• Use a secure browser

Consider Your Computer Continued

• Do not store financial information on your laptop • Avoid using an automatic log-in feature• Delete any personal information stored on your computer

before you dispose of it• Read web site privacy policies

Social Security Numbers

• If someone asks for your SSN, ask the following questions:– Why do you need my SSN?– How will my SSN be used?– What law requires me to

give you my SSN?– What will happen if I don’t

give you my SSN?

WHEN ALL ELSE FAILS:

CALL YOUR PARENTS!!

QUESTIONS?