Tips, Tools, and Resources for Managing Your Finances and Making Informed Financial Decisions - Shared screen with speaker view
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Is this to last 60 mminiutes?
Upcoming workshops and recordings of previous events: https://gradadvance.graduateschool.ufl.edu/programs/workshop-series/
Please submit questions in the chat and I'll collect them for Dr. Gillen
will recording be sent out?
Hi Keyna, it'll be posted on our website at https://gradadvance.graduateschool.ufl.edu/programs/workshop-series/
Hello! Thank you for recording
I would invest
pay off mortgage
pay off loans
invest in bitcoin :)
pay off loans
Pay off my debt!
I would pay off my loans and save for a house
Travel / pay off loans
get a car!
Pay off debt :-)
buy a house
Buy a house
save for a house
if I had a lot more money, I would travel
pay debts and increase savings
America El Sheikh
save and travel
establish my emergency fun and iinvest in index fund plus a mortgage saving
it depends on what we need :)
like annually? another 20000
humdreds of thousands
a money that is more than we need
Extra money I don't need now
considerable extra income that I can decide where do I want to spent it
a consistent salary
when passive income is greater than spending!
will you share the ppt?
Hi Melek, yes, it will be psoted on our website later this week: https://gradadvance.graduateschool.ufl.edu/programs/workshop-series/
maybe the tooth fairy??
It was fun to count
allowance as a kid
it trading tools
counting the money in a piggy bank
the piggy bank
I remember my parents not having money, I can remember they live day to day, not savings
so predatory :(
Dr. Gillen. Question: Do you agree it is a positive policy to put down 20% in cash for a living home mortgage? What about the idea that our monthly mortgage payment should not exceed 25% of our monthly income.
There is a book I've recently read called The Broke Millennial, it greatly informed me about financial decisions and financial planning, it is very thorough but easy and enjoyable to read. Its also on Audible.
thank you Amanda
Felipe, Dave Ramsey principles!
Broke Millennial is also on Libby (which is free, provided by Alachua County)
UF employee education program: https://learn-and-grow.hr.ufl.edu/education-programs/employee-education-program/
how do you deal with all the experts that say "you need xxx saved by the time you're 30" and things like that? I try to save but I can never match the amount that they recommend
What percentage of income should be saved monthly? Is there any standard rule to follow?
I've recently learned about Roth IRAs especially for students who don't have employer IRA's can you talk about the importance of how Roth IRA's will benefit us in the future
I do want to know about Roth IRA as well
I do believe grad students can set up 401ks through fidelity, I haven't done it yet, but I received information in the mail about it around december
America El Sheikh
My mom has higher than 800
Voluntary retirement savings plans that graduate assistants qualify for: https://benefits.hr.ufl.edu/retirement/voluntary/
i recommend everybody to read ‘secrets of the millionaire mind’
UF has a Roth 403b plan for students (it's the same thing as a Roth 401k but for government-funded institutions)
Hi Emma, thanks! Here is the link to it: https://benefits.hr.ufl.edu/retirement/voluntary/
is that new Tallinn? because when I started HR told me there was nothing like that for graduate assistants and to just get a Roth Ira on my own
you need to be a graduate assistant, so be paid by UF
Question Ms. Guillen: Do you agree with Dave Ramsey when he says that you should get a 15-year mortgage instead of a 30 year?
Hi Chanel, I would contact HR again, or try someone else, because according to their website, as a graduate assistant you do have options
must one have a credit card? are there options for those who want to get first time credit card?
Hi Tinu, can you clarify your question? Are you asking how to get a credit card?
I used that website, but it did not provide meaningful information to me..
or what criteria should one look out for when getting a credit card for the first time? I only have a debit card.
Hi Tinu, I recomment this place for first-time credit card users https://www.nerdwallet.com/best/credit-cards/no-credit
I found "medical debt" that was attributed to me but was fraudulent. It's definitely worth doing this!
You can also fight claims against you - I had a roommate that caused apartment fines that I refused to pay and I was able to get it off my credit record for one of the credit reporting agents with documentation showing it was not my responsibility.
thank you Felipe!
I believe those claims stay on your record and part of your score for 7 years if you don’t fight them!
So.. how could I "read" the credit report? because I felt my report did not contain meaningful infor.
recommendations or advice for finding a high yield savings account?
Hi Tinu, it is good to think about what kind of things you need or would use. For example, if people fly a lot like on Delta, you can get an Amex that gives you miles for every dollar spent and also a free first bag; other cards get you into the airline lounge. Other credit cards exist that give you cash back for every dollar you spend it specific categories (maybe 3% for your grocery spending, 2% for money you spend on gas, etc.). As long as you can pay off your credit card debt every month (don't spend money you don't have). A credit card can give you lots of benefits vs your debit doesn't do much for you that way.
Any idea what the university matches for the Roth 403b plans for students? Is it a 1:1 match?
I highly recommend anyone looking for a credit card. American Express Blue Cash Everyday. it gives you lots of cash and it is wonderful for dispute resolution
Is there a way to prove that a bank is FDIC insured and not just take their word for it?
Adam, I just looked on the page Talline linked and it said that the employer does not contribute to the plans
In order not to hurt our credit score, should we close unused credit cards or just leave them open?
My credit card company alerted me to fraud due to suspicious purchases. All I had to do was confirm that it wasn't me and those purchases were taken off my account and I got a new card.
what do you recommend to look for when applying for credit cards?
Hi Adam, there is no match for the voluntary 403b plan
So the university doesn't help you at all with your 403b plan as a student?
I found that every time I tried to open a student credit card, I kept getting denied since I don't have a job/income. But if my future landlord is going to run my credit (since I have none), what do I do? Should I wait until my first paycheck to open a card or try again?
Right, I’m wanting a way to make sure they are legitimate if the bank is new to me
Sorry for ask in here, but are you going to talk about the 403 and 457 in another talk?
Hi Felipe, correct. But you have access to the accounts with that are generally cheaper because the university negotiated the fees, and the university might also cover some of the fees associated with running the account.
please fill out this survey for today's talk: https://ufl.qualtrics.com/jfe/form/SV_0GSFKMtoaGmolo2
Is there a minimum that you must have to start a Roth IRA?
Can you clarify the misleading language of minimum monthly payments
Does the content will be covered in this webinar?"CONSIDERATIONS WHEN MAKING EMPLOYMENT DECISIONS "
What is the name of the session next week?
next week's session: Considerations when Making Employment Decisions
So resourceful! Thank you so much!
Thanks a lot!
Also if you pay your credit card before the statement is due it will show that you didn't spend anything, is that correct?
I have a quick question about how to estimate costs of electricity and water in a different city, state
No, it will show that you used it
Any website I can look at
I heard that you need to pay on time and in full and to not pay it early
Thank you! This was a great presentation!
I do this a lot
Hi all, we also have some resources on personal finances planning: https://gradadvance.graduateschool.ufl.edu/competencies/effectiveness-and-purpose/#d.en.824452
When is the next one of these
CONSIDERATIONS WHEN MAKING EMPLOYMENT DECISIONSFebruary 24, 2021 (11 a.m. to 12 p.m.) via Zoom
America El Sheikh