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Transcript of Budget Bootcamp
Why is Budgeting Important?
Helps to set and reach goals
Let's you enjoy living responsibly within your means
Prepares you for your future after college
1. Buy books from a friend
2. Use google books, it wont give you all the book but it will show you if it useful or not.
3. Share books with friends in your same course.
4. Use books from older editions
5. Buy used books (Amazon.com, Chegg.com, Half.com)
6. Rent from the Library or Consortium
7. Try E-books, they might be cheaper
8. Sell back/Trade back to Amazon N
This is about becoming financially literate and making your money work for you!
THE 7 BEST WAYS TO SAVE YOUR MONEY
Create a food budget.
Many Americans spend more money than they should dining out. Monitor and plan your outings, and start saving!
If you get a credit card, make sure it is with a company that can help you build your credit!
Pay yourself first!
Whenever you get paid, set money aside for yourself in a savings account!
Look into selling and buying books online. Oftentimes, it is cheaper than your campus bookstore!
Create a personal budget and stick to it!
Shop around for the cell phone plan that best suits you!
Do your research before applying for credit cards. Different cards offer different advantages!
Confidence in a borrower's ability and intention to repay.
What Does this Mean?
Credit is your financial trustworthiness
What is Credit?
People use the credit they have with financial institutions, businesses, and individuals to obtain loans. And they use the loans to buy goods and services.
What is a Credit Score?
How is it Calculated?
A number that represents your calculated measure of credit risk
A complex mathematical formula takes into account numerous factors in your credit history
Scores range from 300-850 (Average Credit Score in U.S.: 692)
It is calculated by 3 major credit bureaus: Equifax, TransUnion, and Experian
What Factors Determine
Your Credit Score?
Don't panic like this guy.
Learn how to make a budget!
Determine your monthly income
Estimate required expenses
Steps to Create
Estimate discretionary expenses
Track all your spending for a month
How to Stick
to a Budget
Don’t compare yourself to others
Budget should be fluid- not always fixed as circumstances change
Focus on a few things at a time
Don’t focus on the immediate reward, focus on the future reward
To help you manage your money,
Common $ense workshops
and go to
to start planning your budget.
Office of Student Financial Services Counseling Division by Last Name
A-D, Lucia Chile (firstname.lastname@example.org)
E-K, Dinah Maurelus (email@example.com)
L-Q, Rachel Park (firstname.lastname@example.org)
R-Z, Brian Lemma (email@example.com)
MyAccess.Georgetown.edu will become a useful website in your Georgetown years. These are only a few things you can do in MyAccess:
1. Edit Biographical and Address Information
2. Course Registration
3. Financial Aid Services
4. Student Account Services
5. Request Refunds
6. Student Health Insurance
To request a refund, you will follow these steps...
Steps to Request Your Refund!
What is Financial Aid?
Financial aid is money supplied by a source other than the family to assist with the costs of a student's postsecundary education
Georgetown's Category of Aid
Student must demonstrate financial need
Need is determined by analyzing student's and family's financial situation
Types of Aid
Scholarships and Grants:
Free money or gift aid
Generally do not have to be repaid or earned
Self-help aid that must be repaid
Some loans may be fully or partially canceled if borrower fulfills certain requirements
Self-help aid that provides compensation for work
For need-based financial aid programs, students must demonstrate financial need under the following formula:
Cost of attendance (COA)
-Expected family contribution (EFC)
Federally funded financial aid program established to provide part-time employment opportunities for students with demonstrated financial need.
Eligibility will be determined by Georgetown's financial aid office
Money earned by working
have to be repaid
Students will receive a paycheck or direct deposit paid directly to them on a biweekly basis.
Do I have to do my FAFSA, CSS Profile & IDOC every year?
Yes! FAFSA, CSS Profile and IDOC are to be completed for every school year. Priority deadlines are usually between April-May.
Do I have to work if I am awarded work-study as part of my financial aid package?
No! Getting a FWS award makes it easier for you to find a job. However, you may choose to reject your FWS offer if you have planned to meet your expenses in other ways.
How many hours a week will I be required to work?
Typically 10-15 hours per week, but you can work with your employer to find a schedule that works best for you.
Federal Work-Study Program
To find on-campus and off-campus employers visit:
If you are not traveling too far, use the bus: Megabus, Bolt, Peter Pan
Book flights in the middle of the week & uncommon times
Use sites such as: Kayak, Cheaptickets, Orbitz, Spirit
Ship boxes if cheaper
Take SuperShuttle, MARC Train, Amtrak
See if you can catch a ride with a friend or classmate
Take the GUTS shuttles
Use public transportation
Ride a bike
Get a SmartTrip
Try Zip Car and Car to Go
Try Capital Bike Share
Vital Vittles is overpriced.
Trader Joe’s is the best option but is a little further from campus than Safeway (Friday special deals), which is the next best option.
Grab&Go is available for all 3 meals
Qdoba Mondays: half off for students 2-8pm (times may change)
Campus Foods (ask for student discounts): online
Eat n' Joy half off for students Tuesday
Wingo's is half off for students on Wednesdays with the word of the day
CLOTHING & ENTERTAINMENT
Resources @ Georgetown
Thursdays Georgetown Cinema – half off with student id
Kennedy Center Millennium Stage shows 6pm everyday free
Career Center and GSP offers business/professional wear
Pentagon City Mall, H&M downtown, M Street
What’s After Dark (ie. $20 for NYC trip w/ Broadway show)
Most Smithsonian Museums are free and open every day
The Gallery Place Chinatown location has a lot of
things to do
Try taking the bus to Tyson's Corner Mall
Take the train to Columbia Heights station to get to Target, Marshalls, and Bed Bath & Beyond
Take the train to MetroCenter to get to Forever 21, Macys, and Zara
Financial Aid Counselor
Student Employment Office
(Student & Staff)
1. Set up your “Payment Profile” – your bank information – in MyAccess
3. Sign in
4. Click on
4. Click on "Request a Refund"
2.Go to https://myaccess.georgeto
I know I will get a refund if my account balance in MyAccess is a negative number.
Typically, students use their refund for school related expenses, traveling home, and various personal expenses
Get your free credit report annually at www. annualcreditreport.com