personal finance how to be smart with your money – whether you’re earning, spending or saving it

Personal Finance

How to be smart with your money – whether you’re earning, spending or saving it.

Consumer Survey

Which of the following information sources about products could you trust?

Product ads Product labels Consumer group or government agency Salesperson Celebrity spokesperson Other consumer opinions

Consumer Survey

Which of the following information sources about products could you trust?

Consumer group or government agency • http://www.cpsc.gov/ • http://www.consumerreports.org/cro/index.htm

Other consumer opinions• http://www.angieslist.com/Angieslist/• http://www.tripadvisor.com/

Consumer Survey

If you had a complaint about a product you bought, what should you do FIRST?

Return it to the seller Contact the manufacturer Write to a consumer “help” reporter Report it to a consumer affairs

agency

Consumer Survey

When is comparison shopping essential to good money management?

When making a major purchase When buying any but the most minor

thing Always

Consumer Survey

Which of these is essential to good money management?

Developing a financial plan Making and following a budget Comparison shopping Researching products and services Maintaining health and other insurance Saving for a rainy day

Consumer Survey

At what point in their lives do people first form consumer attitudes and habits?

During early childhood During their school years After graduating from high

school/college When they start working full time

Consumer Survey

Q9: How much money per month do you think you’d need to earn to live (independent of your parents) in comfort?

$1,000-$2,000 $2,000-$4,000 $4,000-$8,000 $8,000-$10,000 More than $10,000

Price of Independence: Monthly Expenses

____ Housing (rent or mortgage)____ Utilities (gas, electric, water)____ Phone/Cell phone/Internet____ Food (cooking, eating out)____ Transportation (car, gas, insurance)____ Clothing (work, casual)____ Medical expenses ____ Miscellaneous (glasses, cleaning

supplies, pets)____ Savings____ Entertainment (cable, health club, travel)


$800 Housing (rent or mortgage)$50-200 Utilities (gas, electric, water)$50-300 Phone/Cell phone/Internet$400-?? Food (cooking, eating out)$150-?? Transportation (car, gas, insurance)____ Clothing (work, casual)____ Medical expenses ____ Miscellaneous (glasses, cleaning

supplies, pets)$200 Savings?? Entertainment


TOTAL: $1450 to ???

How much would your life cost?


TOTAL: $1450 to ???

How much would your life cost?

Probably at least $2500


TOTAL: $2500 a month

What kind of job do you need to earn that much?

National Median Salaries (NOT starting salaries)

CashierChild care workerTravel agentAuto mechanicChefCarpenterTeacherPolice OfficerRegistered NurseMeteorologistSoftware engineerLawyerPediatrician


Cashier $16,810/yr $1,082/mo*Child care workerTravel agentAuto mechanicChefCarpenterTeacherPolice OfficerRegistered NurseMeteorologistSoftware engineerLawyerPediatrician

*monthly pay is after tax


Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agentAuto mechanicChefCarpenterTeacherPolice OfficerRegistered NurseMeteorologistSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1818/moAuto mechanicChefCarpenterTeacherPolice OfficerRegistered NurseMeteorologistSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChefCarpenterTeacherPolice OfficerRegistered NurseMeteorologistSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenterTeacherPolice OfficerRegistered NurseMeteorologistSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenter $36,550/yr $2,227/moTeacherPolice OfficerRegistered NurseMeteorologistSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenter $36,550/yr $2,227/moTeacher $45,570/yr $2,680/moPolice OfficerRegistered NurseMeteorologistSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenter $36,550/yr $2,227/moTeacher $45,570/yr $2,680/moPolice Officer $47,460/yr $2,775/moRegistered NurseMeteorologistSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenter $36,550/yr $2,227/moTeacher $45,570/yr $2,680/moPolice Officer $47,460/yr $2,775/moRegistered Nurse $57,280/yr $3,269/moMeteorologistSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenter $36,550/yr $2,227/moTeacher $45,570/yr $2,680/moPolice Officer $47,460/yr $2,775/moRegistered Nurse $57,280/yr $3,269/moMeteorologist $77,150/yr $4,265/moSoftware engineerLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenter $36,550/yr $2,227/moTeacher $45,570/yr $2,680/moPolice Officer $47,460/yr $2,775/moRegistered Nurse $57,280/yr $3,269/moMeteorologist $77,150/yr $4,265/moSoftware engineer $85,370/yr $4,658/moLawyerPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenter $36,550/yr $2,227/moTeacher $45,570/yr $2,680/moPolice Officer $47,460/yr $2,775/moRegistered Nurse $57,280/yr $3,269/moMeteorologist $77,150/yr $4,265/moSoftware engineer $85,370/yr $4,658/moLawyer $102,470/yr $5,463/moPediatrician



Cashier $16,810/yr $1,082/mo*Child care worker $17,630/yr $1,131/moTravel agent $29,210/yr $1,818/moAuto mechanic $33,780/yr $2,086/moChef $34,370/yr $2,117/moCarpenter $36,550/yr $2,227/moTeacher $45,570/yr $2,680/moPolice Officer $47,460/yr $2,775/moRegistered Nurse $57,280/yr $3,269/moMeteorologist $77,150/yr $4,265/moSoftware engineer $85,370/yr $4,658/moLawyer $102,470/yr $5,463/moPediatrician $136,600/yr $7,070/mo


Personal Finance

What we’ll do for the next few daysSee how economic concepts relate to

personal financeLook at good strategies for making a

dollar go farTalk about spending, saving, credit

and investing

personal finance how to be smart with your money – whether you’re earning, spending or saving it

Documents

travel slide

entertainment slide

consumer affairs agency

time slide

consumer survey q9

consumer opinions http

rainy day slide

form consumer attitudes