Basic Financial Life Skills

2 - 18 Hours

Each subject or module is approximately two hours in length. This course offers the participant a wide range of life skills from a financial and consumer perspective. Participants will learn how to apply basic math skills to real life situations, as well as how to find and use a variety of practical resources.

• Checking Accounts
  · Types/Features/Advantages/Disadvantages
  · How to Open
  · What to look for in a Financial Institution
  · Balancing the Checkbook
  · ATM - Automatic Teller Machines
  · Debit (Cash) Cards
• Savings Accounts
  · Types/Features/Advantages/Disadvantages
  · The Power of Saving
  · Money Cards . . . Convenience/Pitfalls
• Credit Cards
  · How to Establish/Apply for Credit
  · Advantages. . .Convenience/Pitfalls
  · Importance of a Good Credit Rating
  · How to Fix Credit Ratings
  · Understanding Interest Rates/Annual Fees
  · Using Credit Wisely
• Educational Financing
  · Financial Aid
  · Student Loans
  · Scholarships/Grants
• Budgets
  · Importance/Advantages
  · Self Discipline
  · Suggested % Guidelines (i.e., house payments < 25% gross income)
• Insurance
  · Types/Features/Advantages/Disadvantages
  · Insurance as a Savings . . Pros/Cons
  · Suggested Levels to Carry
  · Health Plans/HMO/PPO
  · Automobile Insurance
  · Homeowners Insurance
• Taxes
  · Types/Current Percentages
  · 1099 vs. W-2 Wages (withholding responsibility)
  · Reductions/Deferred Possibilities (IRA, Home Equity)
  · Employment/Unemployment/Workers Compensation
• Major Purchases
  · House/Automobile
  · Financing Options/Institutions
  · Interest Rates/Actual Purchase Price
  · Renting/Leasing/Buying
• Investments
  · Financial Security/Retirement
  · Risks vs. Rewards
  · IRA, 401K