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Dr. Helen K. Simon, CFP
Director
State Farm Financial Literacy Lab
Nov 9, 2011
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For info on our other programs: http://business.fiu.edu/sffll/eflp.html
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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
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Dealing with Stress
You can’t deal with it, until you name it! What is causing stress in your life?
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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
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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.
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We have become a culture of what we have instead of who
we are
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Happy to help us…..
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CREDIT CARDSTurn from victims into victors!
High APRs - Cash Back! Excessive spending - Budgeting
tool
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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/
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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
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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!
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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
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Retirement Savings
403b 457 Roth IRA
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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!!!!
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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/
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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
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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?
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Available on the FIU library or used on Amazon for <$5
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In closing…
What would you like us to cover in future sessions?
Some ideas:Credit & BankingInvesting Basics Personal Financial Planning