dr. helen k. simon, cfp director state farm financial literacy lab nov 9, 2011

Dr. Helen K. Simon, CFP

Director

State Farm Financial Literacy Lab

Nov 9, 2011

For info on our other programs: http://business.fiu.edu/sffll/eflp.html

What Is Stress?

Stress affects most people in some way Its a combination of emotional and

physical pressures It almost always involves a feeling you

have little control over the situation (s) and/or you just can’t finish anything

Dealing with Stress

You can’t deal with it, until you name it! What is causing stress in your life?

Leading Cause of Stress?*

#1 = Finances According to a poll by LifeCare, Inc.(2005),

23% of respondents named finances as the leading cause of stress in their lives.

Financial stress has led the list in many other polls.

GOOGLE it!

*downloaded from: http://ezinearticles.com/?7-Leading-Causes-of-Stress&id=473303

Some who name finances as the leading cause of stress cite:

major purchases: such as a home or car.

a loss of income, or mounting credit card debt. college students stress over paying

for an education, Baby Boomers and older senior

citizens find that retirement income can be a major cause of stress.

We have become a culture of what we have instead of who

we are

Happy to help us…..

CREDIT CARDSTurn from victims into victors!

High APRs - Cash Back! Excessive spending - Budgeting

tool

Resources

Find the right credit card for you: http://www.bankrate.com/credit-cards.aspx.

Check your credit report often! https://www.freecreditreports360.com/freecreditreport/lp/4

37-dc4c/.

Use Mint: https://www.mint.com/

Protect your identity!

Do not share your personal informationDon’t be afraid to ask someone why

they need the info! Watch your credit cards

Swipe! Swipe! Swipe! Watch mail/garbage/face book

SAVY SPENDING www.Couponheaven.com. Your credit card

www.discovercard.com www.chaserewardsplus.

com Online bill paying The Sunday newspaper Organized shopping trips Have your cocktail at

home Groupon FL restaurants run great

specials in the off season Breakfast is a bargain!

The Latte Factorhttp://www.wisegeek.

com/what-is-the-latte-factorreg.htm.

The Millionaire Next Door

Don’t always think that bigger is better! The warehouse

shopping paradoxSometimes Publix

BOGO is way better!

EMPLOYEE BENEFITS FSA (Flexible Spending Account) Deferred savings Tuition reimbursement Disability insurance

Chances of becoming disable pre 65 is 5 Xs greater than dying

Life insuranceDo you have enough? Or too much?

Discounted Services: http://www.bcbsfl.com/DocumentLibrary/DiscountPrograms/Bl

ueComplementsBrochure_20032.pdf

Retirement Savings

403b 457 Roth IRA

Tuition Reimbursement

The best investment you can make is in yourself!

Education = higher salaries, better jobs, better quality of life

You are NEVER too old or too busy to take a class

And we can do it for FREE!!!!

REALISTIC BUDGETING

Plan for savings first…? How much cash should you keep in your

emergency fund? Where should you keep your emergency

fund?The Credit Unionhttp://home.ingdirect.com/

INVESTMENT MISTAKES Listening to too many financial experts Investing in things you don’t understand Thinking there is a “free-lunch” Thinking you know more than the

“experts” Taking too much risk Using insurance as an investment

Be a good parent – but not too good!

Are you stressed out about your child’s college education?

Have you sacrificed your own retirement savings planning to pay for your child’s education?

Does your child have a job? Is your child employable?

Available on the FIU library or used on Amazon for <$5

In closing…

What would you like us to cover in future sessions?

Some ideas:Credit & BankingInvesting Basics Personal Financial Planning