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Tips, Tools, and Resources for Managing Your Finances and Making Informed Financial Decisions - Shared screen with speaker view
Keyna Wintjen
16:46
Is this to last 60 mminiutes?
Talline Martins
18:45
yes!
Talline Martins
20:03
Upcoming workshops and recordings of previous events: https://gradadvance.graduateschool.ufl.edu/programs/workshop-series/
Talline Martins
20:35
Please submit questions in the chat and I'll collect them for Dr. Gillen
Keyna Wintjen
21:18
will recording be sent out?
Talline Martins
21:36
Hi Keyna, it'll be posted on our website at https://gradadvance.graduateschool.ufl.edu/programs/workshop-series/
Melek Kul
21:42
Hello! Thank you for recording
Peter Moore
25:05
travel
Joshua Benjamin
25:09
I would invest
Keyna Wintjen
25:11
pay off mortgage
Shaimaa Elbalkiny
25:11
invest it
Chanel Mosby-Haundrup
25:12
pay off loans
Melek Kul
25:14
invest in bitcoin :)
Tiana Trujillo
25:15
Invest
Maris Laughton
25:17
pay off loans
Linda Maurer
25:17
Pay off my debt!
Natalie Orellana
25:18
I would pay off my loans and save for a house
Nicole Parra
25:20
Travel / pay off loans
Shajib Ghosh
25:20
save it.
Zoe Bowden
25:24
get a car!
Jason Fults
25:24
Pay off debt :-)
Zuania Colon-Pineiro
25:24
buy a house
Natalia Salinas
25:27
Buy a house
Alexandra Knerr
25:27
save for a house
Lauren Kunselman
25:29
travel
Niki Conrad
25:32
if I had a lot more money, I would travel
Lucia Eguiguren
25:33
pay debts and increase savings
America El Sheikh
25:36
save and travel
Karla Giron
25:38
travel
Felipe Acosta-Munoz
25:41
establish my emergency fun and iinvest in index fund plus a mortgage saving
Felipe Acosta-Munoz
25:53
fund
Niki Conrad
25:59
thousands!
Shreejana Bhattarai
26:03
1 milion
LaRaven Temoney
26:05
$1,000,000
Zuania Colon-Pineiro
26:06
500,000
Melek Kul
26:09
it depends on what we need :)
Natalia Salinas
26:11
300,000
Alexandra Knerr
26:12
500,000
Chanel Mosby-Haundrup
26:14
like annually? another 20000
Shaimaa Elbalkiny
26:14
humdreds of thousands
Shajib Ghosh
26:18
a money that is more than we need
Joshua Benjamin
26:30
Extra money I don't need now
Lucia Eguiguren
26:31
considerable extra income that I can decide where do I want to spent it
Zoe Bowden
26:34
a consistent salary
Kimberly Ying
26:36
when passive income is greater than spending!
Melek Kul
30:10
will you share the ppt?
Talline Martins
30:41
Hi Melek, yes, it will be psoted on our website later this week: https://gradadvance.graduateschool.ufl.edu/programs/workshop-series/
Tiana Trujillo
31:03
Allowance
LaRaven Temoney
31:05
birthdays
Anita Stephen
31:05
save
Kimberly Ying
31:06
maybe the tooth fairy??
Chanel Mosby-Haundrup
31:10
allowance
Natalie Orellana
31:10
It was fun to count
Alexandra Knerr
31:12
allowance as a kid
Jason Fults
31:17
Scarcity mentality.
Shajib Ghosh
31:22
birthdays
Firmansyah Saputra
31:29
it trading tools
Lauren Kunselman
31:41
counting the money in a piggy bank
Shaimaa Elbalkiny
31:53
the piggy bank
Lucia Eguiguren
32:41
I remember my parents not having money, I can remember they live day to day, not savings
Kimberly Ying
33:12
so predatory :(
Felipe Acosta-Munoz
43:29
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.
Amanda Brinton
44:17
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.
Talline Martins
44:31
Thanks, Amanda!
Felipe Acosta-Munoz
44:42
thank you Amanda
Natalie Orellana
45:49
Felipe, Dave Ramsey principles!
Kimberly Ying
46:57
Broke Millennial is also on Libby (which is free, provided by Alachua County)
Jason Fults
47:56
Go Wildcats!
Talline Martins
48:13
UF employee education program: https://learn-and-grow.hr.ufl.edu/education-programs/employee-education-program/
Chanel Mosby-Haundrup
48:20
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
Shajib Ghosh
50:00
What percentage of income should be saved monthly? Is there any standard rule to follow?
Amanda Brinton
51:15
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
Hyojong Sohn
51:37
I do want to know about Roth IRA as well
Adam Siders
52:34
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
Natalie Orellana
53:54
900?
Hyojong Sohn
53:55
800?
America El Sheikh
53:55
800
Emma Drobina
53:56
800?
Michael Zambrano
53:58
850?
Tiana Trujillo
53:58
800
Shangradhanva Vasisth
53:59
840?
Zuania Colon-Pineiro
53:59
800
Jason Fults
54:01
850?
Shaimaa Elbalkiny
54:03
850
Amanda Brinton
54:04
800
Natalie Orellana
54:07
My mom has higher than 800
Talline Martins
54:22
Voluntary retirement savings plans that graduate assistants qualify for: https://benefits.hr.ufl.edu/retirement/voluntary/
Melek Kul
54:41
i recommend everybody to read ‘secrets of the millionaire mind’
Emma Drobina
54:42
UF has a Roth 403b plan for students (it's the same thing as a Roth 401k but for government-funded institutions)
Talline Martins
55:32
Hi Emma, thanks! Here is the link to it: https://benefits.hr.ufl.edu/retirement/voluntary/
Chanel Mosby-Haundrup
56:25
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
Talline Martins
57:05
you need to be a graduate assistant, so be paid by UF
Felipe Acosta-Munoz
58:19
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?
Talline Martins
58:36
Hi Chanel, I would contact HR again, or try someone else, because according to their website, as a graduate assistant you do have options
tinu Olarewaju
59:57
must one have a credit card? are there options for those who want to get first time credit card?
Talline Martins
01:00:30
Hi Tinu, can you clarify your question? Are you asking how to get a credit card?
Hyojong Sohn
01:00:46
I used that website, but it did not provide meaningful information to me..
tinu Olarewaju
01:00:56
or what criteria should one look out for when getting a credit card for the first time? I only have a debit card.
Felipe Acosta-Munoz
01:01:07
Hi Tinu, I recomment this place for first-time credit card users https://www.nerdwallet.com/best/credit-cards/no-credit
Jason Fults
01:01:34
I found "medical debt" that was attributed to me but was fraudulent. It's definitely worth doing this!
Kimberly Ying
01:01:59
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.
tinu Olarewaju
01:02:36
thank you Felipe!
Kimberly Ying
01:02:37
I believe those claims stay on your record and part of your score for 7 years if you don’t fight them!
Hyojong Sohn
01:03:07
So.. how could I "read" the credit report? because I felt my report did not contain meaningful infor.
Karla Giron
01:04:06
recommendations or advice for finding a high yield savings account?
Katarina Jurczyk
01:04:08
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.
Adam Siders
01:05:46
Any idea what the university matches for the Roth 403b plans for students? Is it a 1:1 match?
Melek Kul
01:05:59
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
Kimberly Ying
01:06:31
Is there a way to prove that a bank is FDIC insured and not just take their word for it?
Chanel Mosby-Haundrup
01:06:39
Adam, I just looked on the page Talline linked and it said that the employer does not contribute to the plans
Shaimaa Elbalkiny
01:06:50
In order not to hurt our credit score, should we close unused credit cards or just leave them open?
Emma Drobina
01:06:52
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.
Niki Conrad
01:07:02
what do you recommend to look for when applying for credit cards?
Talline Martins
01:07:38
Hi Adam, there is no match for the voluntary 403b plan
Shaimaa Elbalkiny
01:08:02
No
Felipe Acosta-Munoz
01:08:05
So the university doesn't help you at all with your 403b plan as a student?
Makayla Nicholas
01:08:18
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?
Kimberly Ying
01:08:51
Right, I’m wanting a way to make sure they are legitimate if the bank is new to me
Zuania Colon-Pineiro
01:10:03
Sorry for ask in here, but are you going to talk about the 403 and 457 in another talk?
Talline Martins
01:11:32
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.
Talline Martins
01:14:15
please fill out this survey for today's talk: https://ufl.qualtrics.com/jfe/form/SV_0GSFKMtoaGmolo2
Laurie Hoopaugh
01:14:23
Is there a minimum that you must have to start a Roth IRA?
Amanda Brinton
01:14:46
Can you clarify the misleading language of minimum monthly payments
Hyojong Sohn
01:15:11
Does the content will be covered in this webinar?"CONSIDERATIONS WHEN MAKING EMPLOYMENT DECISIONS "
Sebastian Serrano
01:15:18
What is the name of the session next week?
Talline Martins
01:15:37
next week's session: Considerations when Making Employment Decisions
Adam Siders
01:16:00
Thank you!
Alexandra Knerr
01:16:11
thank you!
Hyojong Sohn
01:16:14
So resourceful! Thank you so much!
Shaimaa Elbalkiny
01:16:19
Thanks a lot!
Sebastian Serrano
01:16:22
thank you
Amanda Brinton
01:16:24
Also if you pay your credit card before the statement is due it will show that you didn't spend anything, is that correct?
Shaimaa Elbalkiny
01:16:25
very informative
Jason Fults
01:16:29
Thank you!
Nicole Parra
01:16:31
Thank you!
Katarina Jurczyk
01:16:34
Thanks!
Sarathy Gopalakrishnan
01:16:35
Thank you!
Rebecca Kidwell
01:16:40
Thank you!
Natalie Orellana
01:16:56
I have a quick question about how to estimate costs of electricity and water in a different city, state
Shaimaa Elbalkiny
01:17:00
No, it will show that you used it
Natalie Orellana
01:17:09
Any website I can look at
Amanda Brinton
01:17:15
I heard that you need to pay on time and in full and to not pay it early
Niki Conrad
01:17:16
Thank you! This was a great presentation!
Shaimaa Elbalkiny
01:17:18
I do this a lot
Talline Martins
01:18:01
Hi all, we also have some resources on personal finances planning: https://gradadvance.graduateschool.ufl.edu/competencies/effectiveness-and-purpose/#d.en.824452
Natalie Orellana
01:18:20
When is the next one of these
Natalie Orellana
01:18:29
zoom
Talline Martins
01:18:41
CONSIDERATIONS WHEN MAKING EMPLOYMENT DECISIONSFebruary 24, 2021 (11 a.m. to 12 p.m.) via Zoom
America El Sheikh
01:20:00
thank you!