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Personal Finance

Personal Finance. How to be smart with your money – whether you’re earning, spending or saving it. Consumer Survey. Which of the following information sources about products could you trust? Product ads Product labels Consumer group or government agency Salesperson Celebrity spokesperson

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Personal Finance

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  1. Personal Finance How to be smart with your money – whether you’re earning, spending or saving it.

  2. Consumer Survey Which of the following information sources about products could you trust? • Product ads • Product labels • Consumer group or government agency • Salesperson • Celebrity spokesperson • Other consumer opinions

  3. Consumer Survey Which of the following information sources about products could you trust? • Consumer group or government agency • http://www.cpsc.gov/ • http://www.consumerreports.org/cro/index.htm • Other consumer opinions • http://www.angieslist.com/Angieslist/ • http://www.tripadvisor.com/

  4. Consumer Survey If you had a complaint about a product you bought, what should you do FIRST? • Return it to the seller • Contact the manufacturer • Write to a consumer “help” reporter • Report it to a consumer affairs agency

  5. Consumer Survey When is comparison shopping essential to good money management? • When making a major purchase • When buying any but the most minor thing • Always

  6. Consumer Survey Which of these is essential to good money management? • Developing a financial plan • Making and following a budget • Comparison shopping • Researching products and services • Maintaining health and other insurance • Saving for a rainy day

  7. Consumer Survey At what point in their lives do people first form consumer attitudes and habits? • During early childhood • During their school years • After graduating from high school/college • When they start working full time

  8. Consumer Survey Q9: How much money per month do you think you’d need to earn to live (independent of your parents) in comfort? • $1,000-$2,000 • $2,000-$4,000 • $4,000-$8,000 • $8,000-$10,000 • More than $10,000

  9. Price of Independence: Monthly Expenses ____ Housing (rent or mortgage) ____ Utilities (gas, electric, water) ____ Phone/Cell phone/Internet ____ Food (cooking, eating out) ____ Transportation (car, gas, insurance) ____ Clothing (work, casual) ____ Medical expenses ____ Miscellaneous (glasses, cleaning supplies, pets) ____ Savings ____ Entertainment (cable, health club, travel)

  10. Price of Independence: Monthly Expenses $800 Housing (rent or mortgage) $50-200 Utilities (gas, electric, water) $50-300 Phone/Cell phone/Internet $400-?? Food (cooking, eating out) $150-?? Transportation (car, gas, insurance) ____ Clothing (work, casual) ____ Medical expenses ____ Miscellaneous (glasses, cleaning supplies, pets) $200 Savings ?? Entertainment

  11. Price of Independence: Monthly Expenses TOTAL: $1450 to ??? How much would your life cost?

  12. Price of Independence: Monthly Expenses TOTAL: $1450 to ??? How much would your life cost? Probably at least $2500

  13. Price of Independence: Monthly Expenses TOTAL: $2500 a month What kind of job do you need to earn that much?

  14. National Median Salaries(NOT starting salaries) Cashier Child care worker Travel agent Auto mechanic Chef Carpenter Teacher Police Officer Registered Nurse Meteorologist Software engineer Lawyer Pediatrician

  15. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker Travel agent Auto mechanic Chef Carpenter Teacher Police Officer Registered Nurse Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  16. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent Auto mechanic Chef Carpenter Teacher Police Officer Registered Nurse Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  17. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1818/mo Auto mechanic Chef Carpenter Teacher Police Officer Registered Nurse Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  18. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef Carpenter Teacher Police Officer Registered Nurse Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  19. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter Teacher Police Officer Registered Nurse Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  20. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter $36,550/yr $2,227/mo Teacher Police Officer Registered Nurse Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  21. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter $36,550/yr $2,227/mo Teacher $45,570/yr $2,680/mo Police Officer Registered Nurse Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  22. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter $36,550/yr $2,227/mo Teacher $45,570/yr $2,680/mo Police Officer $47,460/yr $2,775/mo Registered Nurse Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  23. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter $36,550/yr $2,227/mo Teacher $45,570/yr $2,680/mo Police Officer $47,460/yr $2,775/mo Registered Nurse $57,280/yr $3,269/mo Meteorologist Software engineer Lawyer Pediatrician *monthly pay is after tax

  24. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter $36,550/yr $2,227/mo Teacher $45,570/yr $2,680/mo Police Officer $47,460/yr $2,775/mo Registered Nurse $57,280/yr $3,269/mo Meteorologist $77,150/yr $4,265/mo Software engineer Lawyer Pediatrician *monthly pay is after tax

  25. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter $36,550/yr $2,227/mo Teacher $45,570/yr $2,680/mo Police Officer $47,460/yr $2,775/mo Registered Nurse $57,280/yr $3,269/mo Meteorologist $77,150/yr $4,265/mo Software engineer $85,370/yr $4,658/mo Lawyer Pediatrician *monthly pay is after tax

  26. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter $36,550/yr $2,227/mo Teacher $45,570/yr $2,680/mo Police Officer $47,460/yr $2,775/mo Registered Nurse $57,280/yr $3,269/mo Meteorologist $77,150/yr $4,265/mo Software engineer $85,370/yr $4,658/mo Lawyer $102,470/yr $5,463/mo Pediatrician *monthly pay is after tax

  27. National Median Salaries(NOT starting salaries) Cashier $16,810/yr $1,082/mo* Child care worker $17,630/yr $1,131/mo Travel agent $29,210/yr $1,818/mo Auto mechanic $33,780/yr $2,086/mo Chef $34,370/yr $2,117/mo Carpenter $36,550/yr $2,227/mo Teacher $45,570/yr $2,680/mo Police Officer $47,460/yr $2,775/mo Registered Nurse $57,280/yr $3,269/mo Meteorologist $77,150/yr $4,265/mo Software engineer $85,370/yr $4,658/mo Lawyer $102,470/yr $5,463/mo Pediatrician $136,600/yr $7,070/mo *monthly pay is after tax

  28. Personal Finance What we’ll do for the next few days • See how economic concepts relate to personal finance • Look at good strategies for making a dollar go far • Talk about spending, saving, credit and investing

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