The Resources Guide is updated continuously. You will find the latest version here: www.jillrussofoster.com/resources
Download the Implementation Checklist in PDF form or read it below:
Print or download Implementation Checklist in PDF form or read it here:
Chapter 1 – Basic Concepts of Personal Finance
- Income vs. Expenses
- Financial Recordkeeping
- Set Up Your System
- Handling Your Allowance
- Divide Your Money Into Categories
- Savings, Spending, Emergencies, Charity etc
- Handling Your First Paycheck
- Payroll Deductions
- Preventing Identity Theft
- Keep Your Personal Information Safe
Chapter 2 – Working With A Bank
- Opening A Bank Account
- Choosing a bank (commercial bank, savings & loan, internet / virtual bank or credit union)
- What type of account do you want to open?
- Is the bank insured? If the answer is no, start over with another bank
- What are the costs / fees with this account and how to avoid them?
- Will there be interest earned on this account and how much?
- Bank Account Recordkeeping
- Tracking your transactions – paper register or software?
- Balance your account when you receive your statement to double check your records.
- Question any transaction that you have questions on immediately
Chapter 3 – Credit and Debt
- Establishing Credit with a Secured Credit Card
- Select a bank (commercial bank, savings & loan, internet / virtual bank or credit union) that offer a secured credit card?
- If so, do they report your credit history to the three credit reporting agencies? If the answer is no, start over with another bank
- What are the terms of the account?
- Determine if this is right for you
- Open the secured account or start over with another bank
- Establishing Credit as a Joint User
- Have a discussion with your parent(s). Would they be willing to add you to their credit card as a joint user (not an authorized user)?
Chapter 4 – Paying For Your Education
- Costs involved tuition, room & board, books / supplies. meals / food, personal expenses
- Scholarships, Loans, Grants, Financial Aid, Work Study and Savings
Chapter 5 – Major Purchases
- Determine what you want to purchase
- Start your research with these questions
- Determine if you can buy the product or service at a discount