Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

Banking & Budgeting 101 - Tyana & Nancy

Learning the different types of financial institutions, their products and services, and how they make a profit. Also, learn how to build a basic budget
by

Bankitis

on 11 March 2014

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Banking & Budgeting 101 - Tyana & Nancy

Public Service Credit Union offers a FREE Credit Score Analysis for all members.
Thank You!
Loans
Miscellaneous
Questions
Withdrawals
Living On A
College Budget

Banking & Budgeting 101
How Do Financial Institutions Make Profit?
Why Would You Use A Financial Institution?
The Little Things Add Up
You Might Need a Budget If...
You spend more than you make
You pay yourself last
You think about an emergency fund but fail to have one
You spend uncontrollably
You charge items instead of saving for them
Budget Goals
(within the next 6 months)
Savings Goals
(within the next 1-5 years)
Investment Goals
(more than 5 years away)
Set 3 Types of Goals:
Step 1:
List All Income Sources
- Paycheck
- Bonus
- Gifts
- Interest
- Tax Refund
Step 2:
List All Mandatory Expenses
- Rent
- Car Payment
- Gas
- Food
- Loan Payment
- Utilities
- Insurance
- Taxes
- Phone
Step 3:
List All Extra Expenses
- Clothes
- Travel
- Concerts
- Dining Out
- Movies
- School Supplies
- Gifts
- Athletic Events (Marathons, etc.)
5 Steps To A
Successful Budget
Things That Drain Your Budget
Parking Tickets
Late Fees
Unread Subscriptions
Unused Gym Membership
Ignored Repairs
Apps/Songs
Impulse Shopping
Eating Out Frequently
Practical Money-Saving Tips
Pay yourself first!
Pay down debt. (The Debt Snowball)
Bundle insurance with one company.
Shop around for insurance and credit.
Use credit cards wisely
Only charge what you can pay in full.
Eliminate late payment fees; pay on time.
Understand terms and conditions of each card.
Building a Budget
Types of Financial Institutions
& Their Owners
Put money into savings before you budget for anything else. (Instead of budgeting everything and having nothing left over for savings.)
Always Pay
Yourself First!
Resources:
www.bankitis.com
www.pscu.org
www.money.cnn.com
www.money.msn.com
facebook.com/pscucolorado
twitter.com/pscucolorado
Be realistic.
If you have a seasonal job or inconsistent income, you might have to do this every month.
Prioritize...
As you're listing your expenses, be sure to list them in order of priority. Also, don't forget about annual expenses. (i.e. Taxes, Car Registration, etc.)
Presented by:
Tyana Grayson & Nancy Patton
Banks
Regional Banks
Local Banks
Across multiple states
but not nationwide
Within a local community and few branch locations
Network
Credit Unions
Online Banks
The Alternative
Not to be confused with online banking
No Physical Branches
Products and Services
Deposits
Savings
Money Market
CD
Health Savings
Direct Deposit
Mobile App
Withdrawals
Checking
Cashiers Check
Money Order
Debit card
Wire Transfer
Travelers Check
Bill Pay
Miscellaneous
Investments
Notary
Education
Coin Machine
Safe Deposit Box
Loans
Mortgage
Auto
Personal
Student
ODLC
Deposits
Merchant Fees
Respectable
Relationships
Earn Interest
Convenience
Safety
Credibility
Resources
House Party!
Revenue
Expenses
Profit
-
=
Credit Unions
Loans
-Interest
Income
Fees
etc
Deposits
- Interest
Expense
Operations
Banks
Shareholders
Members
Low Rates
Lastly...
Step 4
Build Your Budget
Start with your total monthly
income:
$800
$40 - Savings
$350 - Rent
$100 - Gas
$150 - Food
$20 - Utilites
$140
This is how much you have left for your extra expenses
Template
subtract
mandatory
expenses:
Step 5:
Stick to Your Budget
SMART Goals
S - Specific
M - Measurable
A - Attainable
R - Realistic
T - Timely
This is a great outline when creating your financial goals
Balance check book
Money in envelope
Apps
Andriod: Mint, HomeBudget, My Budget Book, You Need A Budget (YNAB), Easy Envelope Budget Aid (EEBA), MoneyWise, Expense Manager, One Touch Expenser
iPhone: Mint, Spendee, Level Money, BUDGT, DollarBird, Square Cash, Pocket Expense, MoneyWiz
Full transcript