Tips and Tools For Financial Success - Newton Free Library

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Introduction: How to use this Guide This practical guide on personal finance provides a foundation for learning about important life skills such as financial planning, budgeting, saving, investing, and borrowing. With helpful explanations, worksheets, vocabulary lists, and quizzes, each chapter covers a wealth of information on various financial topics. These resources can be used in a variety of educational settings. Materials benefit learners in one-to-one, small group, classroom or self-study situations. The learning experience can be customized as well by choosing sections that are pertinent to individual life goals and objectives. If a learner is thinking of purchasing a home, Chapter 6 on Borrowing Basics offers information on different types of loans, renting versus owning, and activity sheets on mortgage affordability. If a learner is just starting to consider investing or is close to retirement and wants some advice, Chapter 4 on Saving and Investing offers savings tips, describes investment vehicles, and provides worksheets that help identify saving and investing strategies. Chapters can be read in whatever order meets the immediate needs of the learner. Vocabulary lists and an extensive glossary facilitate comprehension of the readings and concepts found in each chapter. Also included are a Newton Free Library select bibliography and filmography. We identify the level of English comprehension (beginning, low intermediate, intermediate, advanced and multi-level) of all books that are listed in the bibliography. The classification helps learners and educators choose those materials that are most appropriate for the learner’s level of English proficiency. The guide ends with recommended websites as well as community and nationwide resource lists. We hope that you enjoy working with this guide as much as we have enjoyed creating it! Susan Bécam, Grant Project Principal Suzanne Kalil, Grant Coordinator Lisa Percy, Grant Coach Lucy Caldwell-Stair, Grant Assistant 5
6 Newton Free Library hosted Financial Literacy at the Library from October 2010 through July 2012.
Page 1 and 2: Financial Literacy at the Library T
Page 3 and 4: Background and Acknowledgments Fina
Page 5: Chapter V. Credit Overview of Credi
Page 9 and 10: 8 © 2011 American Consumer Credit
Page 11 and 12: Goal Setting & Financial Planning (
Page 13 and 14: Financial Goals Worksheet (SMART)
Page 15 and 16: Planning For Unexpected Life Events
Page 17 and 18: 1. Determine what to keep at home a
Page 19 and 20: 5. Keep a close watch on your bank
Page 21 and 22: 20 Kip Child, FDIC Community Affair
Page 23 and 24: Introduction to Banks (from FDIC Mo
Page 25 and 26: 24 Debit Cards • Fees? • Fee wa
Page 27 and 28: Ways to Take Money Out of Your Acco
Page 29 and 30: Using Electronic Banking (from FDIC
Page 31 and 32: Activity 1: Checking Account Fees (
Page 33 and 34: Activity 3: Record Transactions in
Page 35 and 36: Sample Check Register Check Number
Page 37: Paper Money Copy, cut, and put the
Page 40 and 41: III. Budgeting Practice Good Habits
Page 42 and 43: Create a Budget—and Pay Yourself
Page 44 and 45: Household Budgeting Worksheet Housi
Page 46 and 47: Read the scenario, review the Month
Page 48 and 49: Increase Your Income How might how
Page 50 and 51: Develop a Spending Plan A spending
Page 52 and 53: Implement Your Plan Seek Assistance
Page 54 and 55: • Educate yourself and learn more
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Budgeting Quiz 1. How long should y
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Budgeting Quiz -Answers 1. Correct
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IV. Saving and Investing Preparing
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The true magic of compound interest
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9. Pay off high-interest credit car
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Risk-Return Relationship Table (FIN
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Compounding with Tables (FINRA Inve
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Retirement Savings Vehicles (FINRA
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In most cases, you roll over a trad
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Activity 2: Savings Goals Worksheet
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Investing Quiz 1. Which of the foll
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Investing Quiz - Answers 1. Correct
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Making your First Investments http:
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V. Credit Overview of Credit What i
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What Is a Credit Report? (from FDIC
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How the Credit Report Is Used (from
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How to Get Your Free Annual Credit
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Credit Cards: What Are They Used Fo
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Credit Card Comparison Chart (from
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ACCOUNT ACTIVITY Date of Transactio
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Activity 1: Maria’s Credit Report
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Activity 3: Who Poses the Most Cred
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Credit Terms and Definitions Bankru
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8. All of the following appear on y
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VI. Borrowing Basics Types of Loans
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Car Loans (from FDIC Money Smart) T
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To Rent or To Own? (from FDIC Money
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Activity 1: Which Loan Is Best? (fr
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Activity 3: How Much Mortgage Can P
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Note: Make sure you compare loan of
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Estimated prepaid amounts for inter
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Borrowing Basics Quiz 1. Which of t
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Answers for Borrowing Basics Quiz 1
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VII. Life Skills Menu Planning Work
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Grocery Shopping Tips 1. Clean out
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Computer Terms and Definitions Comp
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Housing Terms and Definitions Appli
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8. According to the 2010 Consumer E
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VIII. Glossary Glossary (excerpted
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Compounding: Interest paid on money
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Interest: A percentage of your bala
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Stocks: Parts of a company, called
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IX. Recommend Resources Bibliograph
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Careers and Life Skills Bostick, Na
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Heath, Julia A. Personal finance es
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Debt information for teens: tips fo
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Tutor/Teacher Cordell, Jane. Cambri
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Newton Free Library Financial Educa
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I. Learning English Online Resource
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Investor Knowledge Quiz - http://ww
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American Consumer Credit Counseling
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Nationwide Resources (from American
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This publication is made possible b
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