South Texas College Business Office By PresenterMediacom Understanding Student Loans OverviewConsequences of Debt Be Financially Empowered National Increase in Student Loan Debt Research Options to Pay for School ID: 911405
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Slide1
Consequences of Debt
Presented by Connie Lira-HernandezSouth Texas College, Business Office
By
PresenterMedia.com
Slide2Understanding Student Loans
Overview-Consequences of Debt
Be Financially Empowered
National Increase in Student Loan Debt
Research Options to Pay for School
Student Loan Responsibilities
Student Loan Delinquency & Default
Accounts in Collections
Create a Budget
Slide3Create a Budget
Presented by Connie Lira-Hernandez
South Texas College, Business Office
By
PresenterMedia.com
Slide4Budgeting Tips
Be Financially Empowered
Free Budgeting Resources
Download from App Store:
Google Play or IOS
Search: Budgeting Tools
Online
:
Budgeting WorksheetsFind the one that works best for you!NewslettersVideos
TipsCalculatorsSearch: How to Create a Budget
https://www.mymoneycoach.ca/budgeting/what-is-a-budget-planning-forecasting
Slide5Budget Sample
Be Financially Empowered
Monthly Expenses
INCOME
$ AMOUNT
HOW OFTEN
PAY
DATES
Paycheck
$670.00
Bi-Weekly
6th, 20th
TOTAL:$670.00870X3 =$1,340
LIVINGEXPENSES$ AMOUNTHOW OFTENDUE DATES
Rent$550.00Monthly1st of MonthWater$160.00Monthly
5th of MonthLight$120.00Monthly24th of MonthTOTAL:
$830.00DEBT$ AMOUNT$ FULL BALANCE
DUE DATECredit Card1$30 minimum$300.002nd of MonthCredit Card2$50 minimum$1,400.0024th of MonthTOTAL:$80 minimum$1,700.00
Slide6Analyze Your Spending Habits
Be Financially Empowered
Free Resources
Download from App Store:
Google Play or IOS
Search: Analyze Your Spending
Online
:
Budgeting Worksheets
Find the one that works best for you!Newsletters
VideosTipsCalculators
Search: Analyze Your Spending
Spending For The Month
CategoryAmountBills
$910Groceries$300Dining Out$250Gas
$150Leisure$400
Slide7Cutting Down on Spending
Be Financially Empowered
Tips:
Switch to Store Brands
Shop with a list
Never grocery shop on an empty stomach
Don't carry your credit cards/ freeze them.
Use Coupons
Uninstall/ avoid shopping apps
Image/Information from:
https://www.moneysavingexpert.com/family/stop-spending-budgeting-tool/
Slide8Needs Vs. Wants
Be Financially Empowered
Tips:
Carry cash, leave your card at home.
Shop in Outlets or Thrift Stores
Need
Want
Recommendation
Cable
Consider no cable or downgrading your package.
Vehicle
Get one you can afford to pay and still live comfortably. Luxury is not a need.
Cell Phone
Get an inexpensive android/smart phone. Top of line phones are sold in payments which increase your monthly cell phone payment. Gym MembershipInvest in used but almost new equipment to workout at home. Visit parks, tracks, or walk/run around the neighborhood.
Clothing & AccessoriesBrand name clothing is not a need. If absolutely must have the name brand, consider shopping at Depots, Outlets, and/or Thrift Stores. You can find name brands there for a cheaper price.
Slide9Shopping Addiction – Free 24-Hour Helpline
Be Financially Empowered
For More Information Visit:
https://addiction-treatment.com/types-of-addictions/behavioral/shopping-spending
https://www.psychguides.com/behavioral-disorders/shopping-addiction/treatment/
https://www.addictions.com/blog/is-the-digital-age-to-blame-for-online-shopping-addiction/
Slide10Questions?
Contact: Connie Lira-Hernandez
clira@southtexascollege.edu