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Personal Finance

An overview of personal finance topics for High School Seniors.

Michael Robberson

on 19 April 2017

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Transcript of Personal Finance

Personal Finance
"Annual income twenty thousand, annual expenditure nineteen thousand nine hundred and ninety-nine, result happiness. Annual income twenty thousand, annual expenditure twenty thousand and one, result misery." Charles Dickens (Americanized)
Unemployment Rate by Education

High School Dropout 8%
High School Graduate 5.4%
Bachelors Degree (4 yrs) 2.8%
Master's Degree 2.4%
PhD or Doctorate 1.5%
Avg. yearly earnings by Education

High School Dropout $25,636
High School Graduate $35,256
Bachelor's Degree $59,124
Master's Degree $69,732
PhD or Doctorate $89,960
"The rich rule over the poor, and the borrower is slave to the lender." (Proverbs 22:7)
Debt Caution Area I
College and Debt - Should I get a student loan?
Part II - Debt
Part I - Income
In Arkansas, the avg. student loan debt for graduating seniors was $25,375...
That translates into a payment of $292.02 per month for 10 years
Is there another way?
Caution Area II
Credit cards
A credit card is a way to borrow money from a bank at
high interest rates
Example: If you had a $5,000 balance on a card with an
18.9% interest rate and your minimum payment was $200 each month, it would take you 11 years and five months to pay the entire balance. By the time you make the last payment, you will have paid $8,109
Part III
Saving and Investing
The story of Ben and Arthur

Both save
in an account earning
a year.

Ben starts at age
and stops saving at age
26 (8 years)
, while Arthur starts at age
and stops at age
65 (39 years)

Who will end up with more?
His 9th year Ben earned more than $2,000 in interest.
So, when it comes to saving and investing, time matters...start saving as early as possible.
Where do I put the money I'm saving?


Mutual funds

Real Estate


Savings accounts
How/Where do I save?
is a savings plan through an employer where you can invest pre-tax money in a variety of options that you choose.
If your employer doesn’t offer one of these, you can set up an Individual Retirement Account (IRA) with a bank or mutual fund company like Vanguard.
Full transcript