1 / 14

Our Mission

To improve our members' financial well being. To be the premier financial service provider to our members. Our Mission. www.mutualfirst.com. Distinguishing Characteristics. Members are owners. Only members may belong or vote. Volunteer leadership. Insured by the NCUA just like banks.

abigail-moore
Download Presentation

Our Mission

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. To improve our members' financial well being To be the premier financial service provider to our members. Our Mission www.mutualfirst.com

  2. Distinguishing Characteristics • Members are owners. • Only members may belong or vote. • Volunteer leadership. • Insured by the NCUA just like banks. Now all accounts are insured to $250,000

  3. Financial Success Personal Finance for Life Insert logo

  4. Where do I Start? • Decide on a goal. • My goal is to have enough money saved for my first year of college. • Write down all your bills. • Then how much do you bring home from your paycheck? • First find out how much you can afford to put into savings = bills! Plus

  5. How Do I Begin to Save for My Future? • Open a savings account ASAP! • Set up a direct deposit to your savings account with every paycheck. Pay yourself first! • Set a weekly budget and DON’T go over it! What do you NEED to buy to get you through the week? Not what you want!

  6. Checking Accounts • Checking accounts • Safety • Proof of payment • Convenience • Establish credit Electronic world Rewards Checking What is NEW in the CHECKING WORLD!

  7. How Much Money Should I Save for My First Year in College? According to U.S News First year in college will cost you about $5,000! START UP COST! • Textbooks and school supplies • Clothes and living essentials • Electronics • Dorm furnishings • Transportation, food,entertainment, • cable & more!

  8. Making Sacrifices! What can I do without to be able to save? Temptations are everywhere, Designer clothes Fast Food Movies Music Parties SAVINGS ACCOUNT BUSTERS Make the commitment to stay clear of these WANTS and follow your gut on what you NEED!

  9. The Value of a BUCK! FUN FACT! If you save $1 per day from your 18th Birthday until your 65th birthday and the money earns 5% in a savings or Money Market account, how much will you have saved? $69,232.43

  10. Credit Cards THE AMERICAN DISEASE Buy it NOW, PAY later? You should only have 1 credit card and it is used for emergencies.

  11. Be Credit Wise • Over 75% of college students have credit cards • Over 30% of college students have 4 or more credit cards • 3 out of 5 students with credit cards maxed them out in their freshman year • Over 60% of college students don’t have a budget

  12. Cost of Making the Minimum Payment

  13. Recipe to be a Millionaire • Work four summers, start at age 16 • Save income in a Roth IRA account • Invest in a simple, low-cost stock portfolio • Simmer slowly for 47 years • Serve un-garnished (and untaxed) at age 67

  14. Practical Tips • GROCERIES: NEVER shop while you are hungry! • Keep a grocery list and use the same list every time you shop. • Watch out for ATM Charges. $126.00 a year in ATM charges. • Stay away from fancy coffee shops. For a special treat only! • If you must eat out, NEVER buy a special drink, appetizer or dessert. • Make savings a daily game. What do you want to be? It’s up to you!

More Related