CPA Mobilization Kit: College

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CPA Mobilization Kit College
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Building Your Future

• Money Management
• Making College a Reality
• Insurance Reminders

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Money Management
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Budgeting

• List monthly income
• Job earnings
• Savings parental support
•  Expenses (estimated)
• Education
• Meals, entertainment
• Personal care items

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Sample Budget

•  Gross monthly income
• Net income
• Fixed expenses
• Flexible expenses

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Sample Budget

• Discretionary expenses
• Total it up
• Increase your savings
• Programs like Quicken can help

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The Impact of Income

•  Save spend wisely
•  Make saving a priority
• Acquire savvy shopping skills
• Understand the cost of credit
•  Be aware of taxes

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Investing for Wealth

• The power of compound interest
•  Rule of 72
• 72/236
• 72/612
• 72/89

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Investing for Wealth

•  Planning for wealth
•  Make the most of a 401(K)

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Danger of Credit Cards

• Teaser rates
•  Stick with one
•  Pay in full
•  Pay on time
•  Avoid cash advances

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Danger of Credit Cards

•  Protect your history
•  Stay within the limit
•  Review your statements
•  Report a lost or stolen card immediately
•  Protect personal information

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Making College a Reality
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Making College a Reality

• Implement a savings blitz
• Financial aid
• Seek out scholarships
•  Turn to government loans
•  Focus on less expensive schools

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Facts on Financial Aid

• Always apply
•  Apply early
•  Understand the EFC

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Facts on Financial Aid

•  Spend assets wisely
•  Evaluate offers
•  Grants and loans

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Insurance Reminders
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Insurance Reminders

•  Homeowners/renters
• Auto Insurance
•  Health Insurance

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Thank You!