Mo Money
Mo Problems
Mo Problems
Budgeting
50/30/20 Rule
50% Needs (rent, food, utilities, insurance)
30% Wants (entertainment, shopping, dining out)
20% Savings & Debt (emergency fund, investments, student loans)
Maintenance
Check oil levels and tire pressure regularly.
Learn how to jumpstart your car.
Dashboard Warning Lights: Check Engine (serious), Tire Pressure (add air soon)
AAA (or another automotive service)
Roof Over Your Head
Renting (Apartment/House) - Online, In-Person
Lease Agreements - Security Deposit, Lease Duration, Property Use
Other Costs - Utilities, Parking, Renter's Insurance, Furnishings
Register To Vote
When you turn 18.
This is a solo journey.
Get involved!
Paycheck
Gross Pay = Total salary before deductions
Net Pay = Take-home pay after deductions
Common Deductions = Taxes, Social Security, Medicare, Health Insurance
*File your taxes! <$14,600 earned, filing single>
Buying/Leasing
New vs Used
Negotiating with Dealerships
Do your research!
Take someone with you!
Your Health
Physical and Mental Well-being
Accessing Resources
Making Appointments
Urgent Care vs Emergency Room
Documents
Job Offers
Salary
Work/Life Balance
Where you work? How you work? When you work?
Credit Score
Payment History (35%) - Pay bills on time.
Credit Utilization (30%) - Use less than 30% of available credit.
Length of Credit History (15%) - The longer, the better.
Credit Mix (10%) - A mix of loans and credit cards
New Credit Inquiries (10%) - Too many applications lower your score.
Insurance
Compare Insurance Policies
Understand the Types of Coverage
Documentation
Accidents
See The World
You have to be 25 to rent a car, hotel room, airbnb, etc.
Documents - Social Security Card, Passport, Birth Certificate, State ID/Driver's License
Travel Rewards (hotel and flight)
Employment Benefits
Health Insurance, Retirement Plans (401K)
PTO, Sick Time
Education Reimbursement
Flexible Spending Accounts (Health, Dependent Care)