Power point- financial workshop due un 24 hrs

Presented by the

Office of Student
Financial Aid Services

Your Money Matters
A Financial Literacy Workshop

Training Topics
• Financial Plan
• Budgeting
• Saving
• Debt
• Helping Others/Giving
• Investing
• Banking
• Credit vs. Debit Cards • Credit Report vs

Credit Score
• Interest Rates
• Student Loans
• UConn Students
• Important Sites

Financial Plan

A financial plan is a
comprehensive overview of
your financial goals and the
steps you need to take to
achieve them.

Budgeting helps you:

• Control your spending

• Meet your financial goals

• Minimize debt, and over

• Feel financially organized

• Prepare for emergencies

• Save and give

Why is Budgeting Important?

Income – Expenses = Available

Available Funds: can be:

* Positive cash flow – money left
over after expenses have been

* Negative cash flow – expenses
exceed cash flow; sometimes
causing individuals to turn to
borrowing and credit card use

Positive vs Negative Cash Flow

Amy’s Budget – Positive
Cash Flow

Amy’s Monthly Income = $2,500
 Rent: = ($850.00)
 Groceries = ($300.00)
 Student Loan Payment = ($200.00)
 Electricity/Wi-Fi = ($200.00)
 Gas= ($140.00)
 Car Insurance = ($100.00)
 Cell Phone = ($100.00)
 Entertainment = ($100.00)
Amy’s Total Expenses = $1,990.00

Funds Remaining : $510.00

Dakota’s Budget – Negative
Cash Flow

Monthly Cash Flow

Dakota’s Monthly Income = $2,000.00

 Cell Phone = ($100.00)
 Groceries = ($500.00)
 Transportation = ($200.00)
 Apartment Rental = ($1,000.00)
 Student Loan Payment = ($300.00)
 Electricity, Cable & WiFI = ($150.00)
Dakota’s Total Expenses = ($2,250.00)

Overspent: ($250.00)

Top Reasons to Save


•Your Future/Retirement

•Major Purchases

•Help Others/Give

•Avoid Debt

Saving for the Future

$100 * 45=

$100 * 45=

$200 * 45=
$762, 943

$200 * 45=
$762, 943

$400 * 45=
$400 * 45=

 You are age 20
 Retirement age 65
 Monthly saving of $100, $100 or $400
 Years to save, 45 years
 Your investments are earning 7%

Saving – Start Early
$381, 472

Age 20 Age 30 Age 40



Save $100 a Month
Start age 20, 30, 40
Annual Interest rate 7%
Total saved by Age 65

Limit Debt
Impact of too much debt:

• Hard to pay bills on time
• Can damage your credit

• As interest accrues on

loans or credit card
balances, debt increases

• Difficult to achieve your
financial goals

• Can cause stress or anxiety


Skill Money



Helping Others: Give

Helping Others: UConn Departments

Community Outreach

Careers for the Common Good

• To invest is to allocate money in the expectation of

some benefit in the future. In finance, the benefit
from an investment is called a return.
– Retirement accounts, education savings plans, stock market

• Investor / Investment Company
• Choosing a Financial Advisor


• Banks safeguard and
lend money

• Products:
– Checking Account
– Savings Account
– Certificate of Deposit
– Home Mortgage

Credit Card Charges:
 Must be repaid
 May accrue interest charges if a balance

exists, typically after 30 days
 Credit Limit based on credit rating, FICO score

Credit Card vs. Debit Card

Debit Card:

 Connected with a bank account.
 Comes directly out of the account balance.
 Account balance is $100. You make a purchase

for $10, now your account then has $90

Credit Score vs. Credit Report
FICO Score:

 Fair Isaac Corporation
(FICO) was founded in
1956 by Bill Fair & Earl

 3 digit number which
determines your credit limit
and eligibility for lending.

 Primary score used by

Credit Report: a record of your
history managing and repaying

FICO Credit Score

Very Poor Poor Fair Good Excellent

300 580 640 700 750 850

FICO Credit Score Determination





Payment History

Amounts Owed

Length of Credit History

New Credit

Types of Credit Used

Credit Reporting Agencies

Interest Rates

• A fixed rate is a set interest rate that remains at the
same level for the duration of the loan period

• A variable rate is a changing interest rate over the
duration of the loan – the rate may increase or
decrease depending on interest rate environments

Your Student Loans

• A Federal Direct Subsidized Loan
does not accrue interest while
you are in school

• A Federal Direct Unsubsidized
Loan accrues interest from the
point of disbursement

• Your annual federal student loan
eligibility is based on your year in
school and dependency status

• Borrow only what you need

Undergraduate Loans at a Glance


Interest Rate



Six months
after graduation

2.75%NoStudents with financial
need enrolled at least


Federal Direct
Subsidized Loan

Six months
after graduation

2.75%NoStudents enrolled at
least half-time

Federal Direct
Unsubsidized Loan

Sixty days after

unless deferred

5.30%YesParents of
undergraduate students

enrolled at least half-

Federal Direct Parent
Loan for


Varies by loan

Variable or fixed;
usually depend on

credit scores

YesStudents with a
creditworthy cosigner


UConn Students

Receiving Federal
Loans, 44%

Median Debt at
$12,000 to


Graduation Rate

Students who
Return After Their

First Year, 93%

Salary After
Completing by Field
of Study $20,140 to


Typical Monthly
Loan Payment

$114 to $267/mo

Data obtained from CollegeScoreCard.ed.gov.

Important Sites

• Financialaid.uconn.edu

• Yourmoneymatters.uconn.edu

• Studentaid.gov

Thank you!

We look forward to talking with you soon.

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