Forman's Financial Facts – 8 Basic Financial Concepts
Personal budget
Basic savings methods
Basic investment methods
Retirement planning
Building your credit
Primary loan types
Life insurance – whole life and term life
Planning for your children's college
Charities Supported
4 separate charities will benefit
Supporting our veterans - (Fisher House Foundation)
National Alliance on Mental Illness (NAMI)
Foundation for Alcoholism Research
CHOP (Children's Hospital of Philadelphia)
The Information Covered in Each Section
Personal Budget
Expenses vs. Income and planning for big purchases
Basic Savings Methods
Pay yourself first, and cash is king
Basic Investment Methods
Stocks and other types of investments
Retirement Planning
401K, IRA – Individual retirement account, Roth IRA, and real estate
Building Your Credit
Credit score ranges, what the numbers mean to you, and why having strong credit is so important
Primary Loan Types
Mortgages, equity loans and lines of credit, car loans, personal loans, and school loans
Life Insurance
Fundamentals of life insurance, whole life, and term life and why it is important to put life insurance in place when you are young
Planning for Children's College
529 plans, DRIPS – dividend reinvestment plans, stocks, and other
Teaching - Learning Highlights
Personal Budget Specifics
Income and expenses variable and fixed are outlined
Shows an example of a personal budget
Buy this year and learn how to save for the holidays next year!
Basic Savings Specifics
Rule of thumb behind paying yourself first
Pay Yourself First examples provided
Saving money approaches that you can use
Basic Investment Specifics
Things to consider as you begin to invest
Some stock market information
A few suggestions for stock market investing
Retirement Planning Specifics
The importance of your 401K and the company match
IRA – Individual Retirement Account - control what you invest in
Building Your Credit Specifics
Credit Reports - 3 credit agencies
Fico Scores
What is a good credit score
Primary Loan Types Specifics
Mortgage rates and your credit score
Using your equity line of credit to upgrade your home example
Car loan rates and your credit score
Life Insurance
Understand the benefits of having life insurance in place
Term life insurance is generally very affordable, and how it can help your family if something happens to you
Planning for Children's College Specifics
529 Plans introduction
Learn about DRIPS, there value, and the flexibility they provide you
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