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FINANCIAL MANAGEMENT

Understand budgets, credit cards, and identity theft to manage finances wisely as a new college student. Secure personal info, beware of hidden charges, and protect against identity theft.

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FINANCIAL MANAGEMENT

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  1. FINANCIAL MANAGEMENT 29 AUG 05 OC CARUSO

  2. OVERVIEW • BUDGETS • CREDIT CARDS • IDENTITY THEFT IMPORTANT FINANCIAL TOPICS FOR NEW COLLEGE STUDENTS

  3. BUDGETS • WHAT YOU’RE GETTING • DON’T FORGET TAXES • WHAT YOUR BILLS ARE • MAKE A LIST OF RECURRING BILLS • HOW MUCH EACH BILL REQUIRES • SHOOT HIGH! • MAKE IT FIT!! FIGURE OUT:

  4. BEWARE: PITFALLS!! • FOOD • PARTYING • BEER (IF YOU’RE 21…DIFFERENT BRIEF) • COVERCHARGES • ENTERTAINMENT • MOVIES • VIDEOGAMES

  5. CREDIT CARDS • NOT FREE MONEY!!! • VISA WANTS YOU! • TARGETS COLLEGE STUDENTS • NEW FINANCIAL INDEPENDENCE • INTEREST RATES • HIDDEN CHARGES

  6. Introduction • While you probably can’t prevent identity theft entirely, you can minimize your risk • By managing your personal information wisely, cautiously, and with an awareness of the issue, you can help guard against identity theft

  7. Manage Your Personal Information • Order a copy of your credit report from each of the three major credit bureaus • Place passwords on your credit card, bank, and phone accounts • Secure personal information in your home • Ask about information security procedures in your workplace

  8. Maintain Vigilance • Don’t give out personal information on the phone, through the mail, or over the Internet unless you know who you are dealing with • Guard your mail and trash from theft • Before revealing identifying information, ask how it will be used and secured and if it will be shared with others

  9. Maintain Vigilance Continued • Don’t carry your SSN card; leave it in a secure place • Limit the identification information and the number of credit/debit cards that you carry • Keep your purse and wallet in a safe place at work

  10. Consider Your Computer • Update virus protection software regularly • Don’t download files or click on hyperlinks from strangers • Use a firewall • Use a secure browser

  11. Consider Your Computer Continued • Do not store financial information on your laptop • Avoid using an automatic log-in feature • Delete any personal information stored on your computer before you dispose of it • Read web site privacy policies

  12. Social Security Numbers • If someone asks for your SSN, ask the following questions: • Why do you need my SSN? • How will my SSN be used? • What law requires me to give you my SSN? • What will happen if I don’t give you my SSN?

  13. WHEN ALL ELSE FAILS: CALL YOUR PARENTS!!

  14. QUESTIONS?

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