- 1. WHY BOTHER? Get control of your money You earn it, you
should decide where it goes Money is #1 Cause of Arguments Avoid
living paycheck to paycheck Save for the future Retirement,
College, Home Prepare for the unexpected Death, Disability,
Deployment 2
2. Creating Financial Goals Budgeting Spending Saving Investing
Managing Your Risk Understanding Credit and Debt Protect Your
Identity3 3. Short-Term 1 month to a year Vacation, gifts, paying
off credit cards, etc. Mid-Term 1 year to 5 years Purchasing a car,
remodeling, etc. Long-Term 5 years + Buying house, saving for
college/retirement, etc. 4 4. Write them down! What will it cost?
Dont forget inflation! What is your timeframe? Set a due date
Prioritize by importance Track your progress5 5. 6 6. Track your
spending Cut your expenses Review monthly Use Financial Software
Quicken,Money, Mint.com, etc. 7 7. Think before you make a purchase
Control your emotions and impulsesS T R E T C H your money! What
can you do without? Save $1000.00 Avoid convenience!8 8. Emergency
Fund3to 6 months of your expenses A credit card is not an emergency
fund! Save toward goals Remember to prioritize Pay yourself first!9
9. SocialSecurity?Use Tax ShelteredInvestmentsSave Early, Save
Often10 10. Government-Sponsored RetirementPlan Pre-tax
Contributions No Matching Funds for military 5 Mutual Funds Options
Lifestyle Funds combination of all 5 mutual fund options Can
contribute to both TSP andIRAs 11 11. What is an IRA? Who can have
an IRA? What can be in an IRA? Stocks Mutual Funds Bonds Almost
anything What is the most you canput into an IRA? What is the least
you canput into an IRA?12 12. Protecting your income and assets
Life Insurance Term vs. Whole life Disability Insurance Property
and Casualty Insurance Autoand Home Owner/Renter insurance Umbrella
Policy Long-Term Care Insurance 13 13. When is it ok to use debt?
Education,car or home purchases, orwhen the benefit outweighs the
cost When is it not ok? Impulse buys, day to day purchases,payday
loans, paying one credit card withanother credit card Debt
reduction strategy Create a plan and start today14 14. Pay bills on
time! Contact your creditors Clean up old, bad debt Avoid debt
consolidation companies Seek help from a Financial Counselor 15 15.
Check your credit report every 4months www.annualcreditreport.comor
1-877-322-8228 Freeservice sponsored by TransUnion,Experian, and
Equifax Look for errors and correct mistakes 16 16. How long should
I keep financial documents? Keep copies wills, insurance policies,
andother important documents in a safe depositbox or fire-proof
safe. Shred your documents before you dispose ofthem. Make sure a
loved one has the combination tothe safe and knows where the safe
depositbox keys are located. Use Quicken or Money software 17 17.
Identity theft Stealing your wallet or purse Stealing your mail
Going through your trash Phishing through mail or email 18 18. 1.
Place passwords on your accounts2. Close unused accounts3. Avoid
carrying credit cards4. Safeguard your mail5. Safeguard your
trash6. Beware of people who call your home7. Secure personal
information at home8. Secure your computer 19 19. Contact the
credit bureaus Experian (888-397-3742) Transunion (800-680-7289)
Equifax (800-525-6285) Contact the creditor or bank Call the police
Call the FTC at 1-877-IDTHEFT Visit www.consumer.gov/idtheft 20
