FINANCIAL LITERACY: EDUCATION & RESOURCES
BUDGETING:
Bank of America How to Set Up a Budget
Articles:
- How to Build a Budget (Links to an external site.) and the 50/30/20 guideline
- How to Budget When You're Broke (Links to an external site.)
Resources:
- Term-based, monthly budget worksheet (recommend completing this each term!)
- Level Money app (Links to an external site.) essentially replaces your bank balance with a spendable number for the month. With this number you'll know how much you can comfortably spend on non-essentials, like coffee or eating out.
- Mint app (Links to an external site.) allows you to connect your accounts, set a budget, and then let the system sort your spending into different areas. You can also set goals and use the separate bill paying option.
BANKING:
Banks vs. Credit Unions: What's the Difference? - 2 Minute Finance
Articles:
- 10 Things to Look for in a Bank (Links to an external site.) (What should you look for when making a decision about where to keep your money?)
- NerdWallet's Best Savings Accounts of 2017 (Links to an external site.) (Accounts that can help you save more)
Resources:
- Compare different types of accounts and banks (Links to an external site.) (including local banks, credit unions, and national banks)
SAVING: https://youtu.be/BjvY4hiE1eM
Articles:
- 4 reasons for multiple savings accounts (Links to an external site.)
- The Importance of an Emergency Fund in College (Links to an external site.)
Resources:
LOANS: https://youtu.be/RKwQ3W89Bok
Articles:
Resources:
- National Student Loan Data System (Links to an external site.) - Do you know how much student debt you have? Check this website to find your federal student loan information. If you have other loans, you might consider checking your credit report to give a fuller picture of your current debt.
- Repayment Estimator (Links to an external site.) for Federal Student Aid
REPAYING LOANS: https://youtu.be/nz050MnQ_vs
Articles:
- Guide to Repaying Federal Student Loans (Links to an external site.), Federal Student Aid
- Loan Repayment (Links to an external site.), Oregon State University Financial Aid and Scholarships
Resources:
- Repayment Estimator (Links to an external site.) for Federal Student Aid
- Loan Calculator (Links to an external site.) (1 loan at a time, for private, auto, or other loans)
CREDIT REPORTS:
Articles:
- About Credit Reports (Links to an external site.) - What's in it, how it's used, reporting agencies, how it's mainatained, how to access it
- Ultimate Credit Report Cheat Sheet (Links to an external site.) - Comprehensive guide to help you understand your credit report
Resources:
- Request a free credit report (Links to an external site.) from any of the three reporting agencies (1 per year per agency)
CREDIT SCORES: https://youtu.be/-S91Pe-BjL8
Articles:
- Credit 101: Anatomy of a Credit Score (Links to an external site.)
- Your credit score: How it's calculated (Links to an external site.) (visual)
Resources:
- Credit Karma (Links to an external site.), Credit Sesame (Links to an external site.), and Credit Wise (Links to an external site.) all offer free accounts with approximate credit scores (just be careful--it's free because they'll try to get you to get credit cards that you might not want/need!). Mint.com (Links to an external site.) (budgeting app) also offers free scores.
- If you have any credit cards, check to see if they give you a free credit score! Discover, Citi, some Chase cards, Bank of America, Barclaycard, Commerce Bank, American Express, Capital One, First Bankcard, USAA Bank, US Bank, and Walmart are some of the credit card providers that do offer this free service
BUILDING CREDIT: https://youtu.be/dW77CWoUW_Q
Articles:
- How to Build Credit (Links to an external site.)
- 10 Steps to Repair, Rebuild, and Protect Your Credit (Links to an external site.)
CREDIT CARDS: https://youtu.be/m7PYN4-eKg8
Articles:
-
How To Use A Credit Card Responsibly (Links to an external site.)
-
Understanding Credit Card Interest (Links to an external site.) (But hopefully, you are only putting things on your credit card that you can pay right away, in which case you aren't going to have to pay ANY interest!)
Resources:
- Level Money (Links to an external site.) app. After connecting your credit card account, this app will show all your transactions and help you determine how much "spendable" money you still have (Links to an external site.) (this should help ensure you don't forget how much money you put on your credit card)
- Any other app that connects multiple accounts could also be helpful in this regard, such as Mint.com (Links to an external site.)
IDENTITY THEFT & FRAUD: https://youtu.be/X_fjVgAIgKc
Articles:
- What is Identity Theft? (Links to an external site.)
- 9 Ways to Prevent Identity Theft From Your Online Activities (Links to an external site.)
- Free ways to protect against identity theft (Links to an external site.)
- 10 Things You Can Do to Avoid Fraud (Links to an external site.)
Videos:
DEBT: https://youtu.be/v3vMbvMq-mU
Videos:
- How to Pay Off One Debt Sooner - To better understand interest rates, minimum payments, and how much debt can cost you in the long run (or how much you can save by putting more money towards your debts earlier), check out this video from someone who paid off $33,000 in two years. How to Pay Off One Debt Sooner (Links to an external site.)
- Strategies for paying down debts - Learn about the two main methods for getting out of debt so that you can decide which method is best for you. Strategies for paying down debts (Links to an external site.)
Articles:
- 7 Steps Toward Debt Repayment (Links to an external site.)
- Could a credit counselor help me? (Links to an external site.) If you're worried about how to pay all your debts, or even if you just have a few debts and you aren't sure how to tackle them, you might really benefit from a credit counselor!
Resources: