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Budgeting Presentation

SLS classes

Laura J

on 29 August 2013

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Transcript of Budgeting Presentation

Socialize with Us!
Financial Learning Ambassadors
To increase Financial awareness among the student body through peer to peer learning

Our goal is to empower students to improve their personal financial awareness throughout college and to continue on a road to financial success
Types of Budgeting Methods
Budget Worksheet

Enveloping Method

Online Budgeting
A budget is a plan for your future income and your expenditures that you can use as a guideline for spending and saving
Control how to spend your money

Prepare for regular expenses

Prepare for unexpected expenses

Reduce stress and increase confidence
Benefits of a Budget
SLS Presentation
Enveloping Method
Budget Worksheet
Online Budgeting
What is Saving?
Saving is money put aside for future use
The Most Common reasons:

- Major Purchase

- Emergencies

- Retirement
What is Credit?
What is FICO?
The ability to obtain goods or services before payment, based on the trust that payment will be made in the future.
The FICO Score is used to determine how much money you can borrow, and how much interest you’ll pay.
FICO scores are provided to lenders by the major credit reporting agencies.
What is my FICO credit score made of?
The FICO credit-score range is 300 to 850.
According to FICO, the average score in 2011 was 692

The chart stands with the rest of the world:
FICO-Credit Fact
How do I check my credit score?
One Answer Credit report
Where do I check my Credit report
You are entitled to one free copy of your credit report every year from each of the three credit reporting agencies:

The central point they report to is

Follow us on twitter @FinancialAmbassadors
What is a credit score?
What is a FICO-Credit Score?
Fair Isaac Corporation- the leading provider of analytic and decision management technology
A credit score is a number that defines your creditworthiness.
-You can have different numbers from each credit bureau
What is in my Credit report?
Why is savings important?
Credit report contains information:

- Address
- Criminal History
- Bankruptcy
- History of Debt
- How much you owe to creditors
Credit Score Meaning...
- Pay yourself first

- Setting aside cash on a regular basis

- Set a goal
How do you start saving?
Establish an Emergency Fund
Financial experts recommend saving at least 3 to 6 months worth of essential living expenses
Where Should I put my Savings?
- Savings Account

- Certificate Deposit (C.D.)

- IRA's, Money Markets, and
much more savings options
How To Make Savings Easy
- Direct deposit into your savings account

- Put extra cash in savings

- Save all your loose change

- Once you have paid off your car or other debt, start putting the same amount in savings
Thank You
Categorize: Label the envelope for each expense

Insert cash into proper labeled envelope

Tip: Decide which expense will be easy for
you to pay with cash
To purchase a planned good or service in the future

- Habit

- Eliminate future stress

- Unexpected events
Full transcript