Talk to a bank representative or a financial advisor for more information
Inflation is when you pay fifteen dollars for the ten-dollar haircut
you used to get for five dollars when you had hair. ~Sam Ewing
Interest is what you pay to borrow money using a
loan or credit card. For example, you may pay
1.2% interest monthly on the unpaid balance on
your credit card. Therefore, you will actually pay
$101.20 on an unpaid balance of $100.
OR
Interest also refers to the income you are paid for
keeping money in some interest-paying account.
The higher the interest rate, the more money you
make.
Certificates of Deposit (CDs) offer a higher interest
rate than savings or checking accounts.
The Catch: You cannot withdraw your money without a penalty for three months to five years or more
depending on the chosen plan. If interest rates fall
before the CD expires, you still keep the higher
interest rate you locked into and make more money.
If rates climb, you miss out on the increase and are
stuck with the rate that you previously locked into.
The shorter the term of the CD, the lower
the rate you'll get.
6 month CD
1.19%
1 yr CD
1.62%
5 yr CD
2.68%
http://money.cnn.com/magazines/moneymag/money101
lesson3/index.htm
Stall Talk
Volume 13, Issue 26
April 30, 2012
Student Loans: The one type of loan you cannot
declare bankruptcy on! So take out and spend only
when necessary.
For more info,
call the WIU
Financial Aid
office. 127
Sherman Hall.
309-298-2446
or FinancialAid@wiu.edu
If you start
saving $100/month starting at age 25 and invested in an account that received a 4%
interest rate/rate of return (ROR), you would have $118,590 by age 65. Compound
interest rocks!!! —Yahoo Finance
Credit Score in a Nutshell
A credit score is a three digit number (scores range from 300-850) based on your
bill-paying and debt history (optimum score is around 720).
—Poor Credit can cause… *Denial for a loan *Increase in your interest rate
and insurance premiums *A turn down for a job!
— Ways to improve your credit score… *Pay bills on time *Use only 50% of
available credit on each card *Be the primary accountholder if someone co-signs
with you *Start building credit early (the longer you have credit cards-even if
you rarely use them and if they are paid off, the better you credit score).
Get your free annual credit report from each major credit bureau at annualcreditreport.com.
Source: WIU Finance Professor Mary Patrice Calvert
/
If you eliminate a cup of
coffee ($3) once a week,
you would have saved
$4680 after 30 years.
That is equal to 11
round trip airline tickets
at $400 each.
=
Show me
the money!
Save, save, for a
rainy day– or at least
so you can chip those
nasty student loans
away. -MMcK
Try to have 6-9 months worth of living expenses saved in
a “liquid” account (e.g. checking or savings account —
able to withdraw money at any time without penalty ).
Cool Resource!
http://finance.yahoo.com/how-toguide/banking-budgeting/29245#c1
Manage Your Money at
mint.com
PHYSICAL
Stall Talk is brought to you by Beu Health Center Graduate Assistant Molly
McKeogh and Students T.A.L.K. Peer Educators. For more information,
call 298-3225. For more health info, visit beu.wiu.edu.
For adaptive format, see Disability Resource Center.
INTELLECTUAL
EMOTIONAL
SOCIAL
ENVIRONMENTAL
OCCUPATIONAL
SPIRITUAL