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CPA Mobilization Kit: College

CPA Mobilization Kit: College. Building Your Future. • Money Management • Making College a Reality • Insurance Reminders. Money Management. Budgeting. • List monthly income –Job earnings –Savings & parental support • Expenses (estimated) –Education –Meals, entertainment

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CPA Mobilization Kit: College

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  1. CPA Mobilization Kit: College

  2. Building Your Future • • Money Management • • Making College a Reality • • Insurance Reminders

  3. Money Management

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

  5. Sample Budget • • Gross monthly income • • Net income • • Fixed expenses • • Flexible expenses

  6. Sample Budget • • Discretionary expenses • • Total it up • • Increase your savings • • Programs like Quicken can help

  7. The Impact of Income • • Save & spend wisely • • Make saving a priority • • Acquire savvy shopping skills • • Understand the cost of credit • • Be aware of taxes

  8. Investing for Wealth • • The power of compound interest • • Rule of 72 • 72/2=36 • 72/6=12 • 72/8=9

  9. Investing for Wealth • • Planning for wealth • • Make the most of a 401(K)

  10. Danger of Credit Cards • • Teaser rates • • Stick with one • • Pay in full • • Pay on time • • Avoid cash advances

  11. Danger of Credit Cards • • Protect your history • • Stay within the limit • • Review your statements • • Report a lost or stolen card immediately • • Protect personal information

  12. Making College a Reality

  13. Making College a Reality • • Implement a savings blitz • • Financial aid • • Seek out scholarships • • Turn to government loans • • Focus on less expensive schools

  14. Facts on Financial Aid • • Always apply • • Apply early • • Understand the EFC

  15. Facts on Financial Aid • • Spend assets wisely • • Evaluate offers • • Grants and loans

  16. Insurance Reminders

  17. Insurance Reminders • • Homeowners/renters • • Auto Insurance • • Health Insurance

  18. Thank You!

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