1 / 10

Managing Your Money

Managing Your Money. Principles of Law Student Name:. INSTRUCTIONS:. Locate the website for the NJ State Bar Foundation at www.njsbf.org Open the new publication entitled: Turning 18 in New Jersey Scroll down to Chapter 4, Managing Your Money on page 19

trudy
Download Presentation

Managing Your Money

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. Managing Your Money Principles of Law Student Name:

  2. INSTRUCTIONS: • Locate the website for the NJ State Bar Foundation at www.njsbf.org • Open the new publication entitled: Turning 18 in New Jersey • Scroll down to Chapter 4, Managing Your Money on page 19 • Open the PowerPoint presentation from Mrs. Pollison’s webpage: Managing Your Money PP • Fill in the missing information in the PP from the brochure.

  3. CREDIT:The fundamental understanding of credit is that you • Credit is important to have in order to: (examples) • 1. • 2. • 3.

  4. Bank Accounts and Debit Cards • The 1st step in establishing good credit is to set up a ________________. • _________________ is available at most banks in case you spend more money than you have in your account. • You can arrange through your job to have your paycheck ___________________ into your account. • A card supplied by your bank that withdraws $$ directly from your checking account when used is called a __________________.

  5. Credit Cards: 2nd step in establishing credit. • Shop around for your first credit card! List 3 considerations: • 1. • 2. • 3. • A credit card allows you to carry over portions of your balance from one month to the next as long as you pay a minimum amount each month. • The law protects you (if you are 18 or older) from being denied credit based on:

  6. Disputed Credit Card Charges: • If any charges are wrong or inaccurate on you credit card statement, you should follow these steps to resolve the issue:

  7. Fair Credit Practices Act • You can order one free credit report per year from each of the 3 major credit bureaus! The website is: The 3 major national credit reporting bureaus and their websites are: 1. 2. 3.

  8. Fair Credit Reporting Act • It is your right to notify the credit bureaus if you find incorrect information on your credit report and they are required to investigate & correct inaccuracies!! • Your 1st step should be:

  9. Falling Behind?? • Your first step when falling behind in paying off credit card should be to contact _________________. • A collection agency may be hired to obtain the money from you. • The Fair Debt Collection Practices Act prohibits debt collectors from contacting you outside of the 8 am to 9 pm timeframe.

  10. Bankruptcy (list characteristics) Chapter 7 Chapter 13

More Related