College is a great time to start creating a savings habit.

2.  Theaverage debt for undergraduate
students when they leave college is
$25,000.
 Undergraduates are caring record-
high credit card balances. The
average balance is $3,173.
 As
a nation, we are spending more
and saving less each year.

3.  Don‟t spend what you don‟t have.
 Pay yourself first. Get in the habit of
putting money aside and saving it for
short and long-term savings.
 Developa plan both for spending
(budget and savings).

4. Things You
Can Do To
Better Manage
Your Money

5.  Know how much money is coming in (pay checks, financial aid,
family contributions, gifts).
 Know how much money is going out and track it.
Are you spending more money on want than needs? It is okay to spend
some money on wants but be sure you can cover needs and can
save some dollars too.
Look at how you are spending your money
 Are you spending more then you are taking in?
 Are you using credit cards or borrowing money to make ends meet?
 Do you have places where your money is just disappearing such as
on coffee or eating out?

6. WHERE IS ALL YOUR MONEY?
Are you spending more money on wants than
needs? It is okay to spend some money on wants
but be sure you can cover needs and can save
some dollars too.
 Are you spending more than you are taking in?
 Are you using credit cards or borrowing money to
make ends meet?
 Do you have places where your money is just
disappearing, such as on coffee or eating out?

7. Needs are expenses required for living: Fixed
expenses (rent, car payment, school loans)
and variable expenses (gas, food, phone).
Wants are things we buy but don‟t necessarily
need, such as clothing, movies,
eating out, coffee.
Are you spending more money on want than
needs? It is okay to spend some money
on wants but be sure you can cover needs and
can save some dollars too.

8.  Areyou spending more then you are
taking in?
 Are
you using credit cards or borrowing
money to make ends meet?
 Doyou have places where your
money is just disappearing such as on
coffee or eating out?

9. Advantages Disadvantages
 Buy goods as needed and pay  Buy what you can‟t afford
gradually
 Increased impulse buying
 Creates a record of purchases
 Interest charges mean higher cost of
 Emergencies items
 Level out „peaks‟ and „valleys‟ in  Can be thought of as increased
income and expenses income
 Convenience  May require additional fees.
 Less to carry around  If you lose track of how much
bought on credit, financial trouble
 Consolidates bills into one could occur.
payment

10. Your responsibility
 Borrow only what you can repay
 Know your credit limit and your Annual Percentage Rate (APR)
 Read and understand the credit contract
 Pay debts promptly
 Notify creditor if you cannot meet payments
 Report lost or stolen credit cards immediately
 Watch out for billing errors
 Never give your card number over the phone unless you initiated the call or are
certain of the caller‟s identity
 Check your FREE credit report at AnnualCreditReport.com
Look for a credit company that offers…
 Low interest rates or finance charges (combined, they are called APR)
 Low or no annual fees
 A grace period (time during which no payments are due) before finance charges
are posted
 Other benefits including purchase warranties, free gas, airline miles, etc.

11.  Don‟t have more then one or two credit cards.
 Watch out for carrying balances. Some cards charge
20% or more in interest/finance charges.
 Try to pay off your credit card each month. If you can‟t
always pay more than the minimum balance, pay as
much as you can.
 Think about your purchases. If you
are not able to afford the
purchase now, chances are you
won't be able to afford it in a
month when the credit card bill
comes in!

12.  Always pay yourself first, that means put even a little money
away into savings. Even a little bit of money will grow over
time.
 If you spend 2-3 dollars/day on “snacks” (coffee, soda, candy,
bagels), and instead start saving $2.30 a day in an account
that pays 5.3% interest you will have over $9,000 in 10 years.
 Look for ways to save money.
Examples: Skip the latte, avoid the mall, look for recreation
instead of entertainment, buy used textbooks, carpool or use
public transportation, take advantage of students rates, be
careful with credit, eat cheap, use coupons.
What are ways you save $$$?

13.  Short-term goals include such things as
covering down payment on a car or
going on spring break.
 Medium-term goals require greater
sums of money such as paying off
student loans.
 Long-term goals including saving for
retirement.

14. www.cashcourse.org/unh

15. How Time Affects the Value of Money

16. Spending Plan