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Personal Finance

Personal Finance. How do you budget affectively? What is a credit score and how is it calculated?. Make a list of the possible jobs you will have and their expected wages. Calculate your monthly salary by how many hours you plan to work = ?.

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Personal Finance

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  1. Personal Finance • How do you budget affectively? • What is a credit score and how is it calculated?

  2. Make a list of the possible jobs you will have and their expected wages. Calculate your monthly salary by how many hours you plan to work = ? How much are you going to make when you get out of school?

  3. Make a list of all the possible bills you will have to pay. example: Telephone – 90$ Add up all your bills =? Now

  4. Rent – what do you look for when renting an apartment? What do you look for in an apartment? How much do you need to start? http://www.rent.com/search/results/?state_nb=33&freeform_submarket_nm=New%20Paltz&minimumrent_at=100&maximumrent_at=99999999&bedroom_nb=&bathroom_nb=&dogscats=&landmark_id=&mode=search&searchtype=city&pte=PERSON.REGISTRATION Lets see some actual quotes!

  5. How much do these cost? = Who has the best offers? http://www22.verizon.com/ http://www.comcast.com/default.cspx Do you want T.V./Phone/Internet?

  6. Electric Bill Sometimes - water/sewer How much does this cost? https://secure3.i-doxs.net/centralhudson/sub_MyBills.asp How can you lower your bill? Utilities?

  7. Borrow 5000 $ at 8% interest how much will your monthly payments be? Car insurance – shop around Let’s get a quote! Is there anything a new driver can do to get a cheaper rate? Car payments/insurance

  8. Right now create a grocery list for yourself for food for a week. Keep that list! For Homework Visit a grocery store and price your list. http://www.youtube.com/watch?v=2Re5bNNIt1s&feature=related Groceries?

  9. What is a credit score? Who determines your credit score? How is it determined? What is a good Credit Score? What does having a good credit score mean for you? What does having a bad credit score mean for you? What damages credit, What helps build credit? Credit Rating

  10. It is an actual number that ranges between 300 and 900 designed to measure risk for lenders It started in the 1950’s named after Fair Isaac Credit Organization – Fico Score Three main organizations banks use – TransUnion, Equifaz, and Experian What is a good credit score?

  11. 30% on total credit you are using – all debt – example car loans and credit cards 15% How long these credit lines have been open 10% Types of credit line you have 10% how large you past lines of credit have been 35% on delinquent payments How is your credit rating figured?

  12. Late or no payments – pay bills on time Too much credit lines open Running your credit report too often Bankruptcy - how long does it take for credit to be fixed? What damages credit score?

  13. Simply put; If you have great credit you are considered a low risk client and are more likely to be approved for loans with lower interest If you have bad credit you may receive loans or not, and if you do the interest rates will be significantly higher How much does interest count? http://www.youtube.com/watch?v=t4hH9RE_nL4&safety_mode=true&persist_safety_mode=1&safe=active http://www.bankrate.com/funnel/auto/auto-results.aspx?market=100&prods=74 Good vs Bad credit

  14. Pay bills on time Get a credit card - use it Pay bills with credit cards How do you build credit?

  15. http://www.mastercard.com/ca/wce/PDF/EN_MC_Formulaire.pdf Things to know APR – annual percentage rate (interest rate) Variable rate – your rate can change over time Fixed rate – your interest rate can not change Loans are offered the same way Credit Cards!!

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