Introducing

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(No Transcript)
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Introducingthe NBSC

• Crown corporation
• Investor Protection
• Fostering Capital Markets
• Education and Market Development
• Enforcement
• Regulatory Affairs
• General Counsel

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So what do we know about you?

• You are the wealthiest generation of 16 24 year
  olds ever to exist.
• You dont realize the cost of your everyday life.
• Youre highly educated
• You dont have many siblings, so your social
  lives (real or virtual) are very important
• Youre popular with big companies
• You have yet to form long-term brand loyalties.

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Why Should you Care?

• Credit cards
• Job market is changing
• Higher taxes
• Multiple Jobs
• Cost of energy
• Education costs
• But despite that youre in the best place
  to take responsibility for your financial
  situation as it is right now, and keep making it
  better!

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What can you do?

• Set goals
• Be a smart spender
• Be a smart saver
• Budget

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Set Goals

• Values drive almost every financial decision you
  make!
• Values are what you consider to be the most
  important things in life. They are intangible.
• Goals are accomplishments you work toward that
  fulfill your values.
• Goals can be short term or long term.
• Make them S.M.A.R.T.

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Smart Spending

• Double Check Do I need this or do I want
  this?
• Use cash plastic tricks your brain!
• Pack a lunch I save 150 a month
• Get a hobby
• Dont be stingy
• Pay your bills on time

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Save the Money you didnt know you had!

• How much should I save each month?
• 10
• Adjust it with your income
• Build it into your budget
• Set challenges
• Pay off debt vs. saving
• What are you saving for?
• Tuition?
• Rent?
• Personal spending?

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Smart Saving

• Find free money
• Scholarships, bursaries and grantswww.studentawar
  ds.com www.scholarshipscanada.com
• Buy used text books
• Recycle binders/bookbags from last year
• Food / Entertainment / Personal Items
• Dont do groceries when youre hungry
• Wait for sales to go shopping
• Dont take the credit or debit card just cash
• Buy CDs or rent movies online.

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How to Make a Budget

• Gather pay stubs, bills, receipts, bank
  statements
• Budgets are for saving too!
• Ask yourself
• How can I even out my income if it goes up and
  down a lot?
• How can I spend less at times when my income is
  lower?
• If I need to borrow money, how can I reduce the
  cost of my debts?  

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Why Most Budgets Dont Work

• We give up too quickly
• We expect too much
• We dont adapt our budget
• We become
• A budget miser
• A half-way budgeteer
• A carved in stone budgeteer

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How to Make a Budget WORK

• Think of it as a GPS for your financial life.
  Where the money comes from and where it goes.
• Be honest and realistic
• Allow for change
• Give it a chance
• STICK TO IT

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How to Make a Budget Work

• Start with how much youre spending on
• Fixed Costs
• These are not flexible and you have to pay them
  (tuition, student feeds, rent etc)
• Needs
• These are things you have to buy, but what you
  pay for them is flexible (power bill, groceries,
  personal items)
• Wants
• These can have the most impact on your budget.
  These are things that you can live without so you
  can trim the costs or even eliminate them
  (entertainment, shopping, phones etc)

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But I want it NOW!
Jennifer Megan Mark
iPad Cost 650 650 650
How did they pay? Paid balance right away Paid 50/month 1 yr 3 months Paid 78 interest Chose to pay back by paying only monthly minimum payments of 10. 21 years Paid 1827 interest
REAL cost 650 728 2,477
18 interest rate 32gb iPad wifi about 650 with
tax
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Be Credit Smart

• Always read and keep all paperwork
• Sign the card immediately
• Dont lend your card to anyone
• Pay your monthly bill, in full.
• Youre the ideal customer shop around!
• No/Low annual fee
• Good grace period
• Low long-term interest rate
• Rewards programs
• A few months of credit card abuse can
  lead to years of repayments

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Remember the Basics!

• Set goals based on your values.
• Distinguish between needs and wants.
• Be a smart spender.
• Create a realistic budget.
• Saving money doesnt mean going without.
• Use credit wisely.

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Want to know more?

• www.makeitcountonline.ca
• download the budgeting app (iTunes)
• www.InvestInKnowingMore.ca
• Twitter - _at_4NBInvestors
• Facebook www.facebook.com/4NBInvestors