Tips and Tools For Financial Success - Newton Free Library

Table Of Contents
Introduction: How to use this Guide ............................................. 5
Chapter I. Financial Planning and Security
Organizing your Financial Records ................................................ 8
Goal Setting and Financial Planning ............................................... 10
Financial Goals Worksheet (SMART) ............................................... 12
Planning for Unexpected Life Events .............................................. 14
How to be Financially Prepared for Disasters ........................................ 15
Identity Theft ................................................................. 17
What to do if a Wallet or Purse is Stolen ............................................ 19
Chapter II. Banking
Introduction to Banks ........................................................... 22
Choosing a Bank and a Bank Account Checklist ..................................... 23
Opening and Maintaining a Bank Account .......................................... 25
Ways to Take Money Out of your Account ........................................... 26
Using Electronic Banking ........................................................ 28
Activity: Checking Account Fees .................................................. 30
Activity: Writing a Check ........................................................ 31
Activity: Record Transactions in Your Check Register ................................ 32
Activity: Reconcile Your Check Register. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Activity: Name That Service ..................................................... 35
Paper Money .................................................................. 36
Banking Terms and Definitions ................................................... 38
Chapter III. Budgeting
Practice Good Habits ........................................................... 40
Create a Budget and Pay Yourself First ............................................. 41
Establish an Emergency Fund .................................................... 42
Household Budgeting Worksheet .................................................. 43
Activity: Monthly Income and Expenses ............................................ 44
Activity: Spending Plan Considerations ............................................ 48
Financial Recovery Plan ......................................................... 50
Budgeting Terms and Definitions ................................................. 54
Budgeting Quiz with Answers .................................................... 55
Chapter IV. Saving and Investing
Preparing to Invest: Introduction ................................................. 60
Savings Tips ................................................................... 62
How your Money can Grow. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Risk-Return Relationship Table ................................................... 65
Compounding (with Tables) ...................................................... 67
Investing in your Twenties ....................................................... 68
Retirement Savings Vehicles ...................................................... 69
Activity: Pay Yourself First Action Plan ............................................ 72
Activity: Savings Goals Worksheet ................................................. 73
Investment Terms and Definitions ................................................. 74
Investing Quiz with Answers ..................................................... 75
Saving and Investing Online Resources ............................................. 78
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