The Fed Casher Show Consumer Call in Show

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					   The Fed Casher Show
A Consumer Call-In Program

     Featuring your host,
         Fed Casher
                 Fed Casher



   Financial decisions can change your lives
    forever.
            Hello, folks


Personal finance is our focus!
              Call from Amy
         in Debt Hollow, Arkansas

   “Hello, Fed, love your show. I am 24 and
    have been working in my career job for
    three years. I’ve heard that saving is
    important and that the sooner I start to
    save, the better. However, I don’t know
    much about it. Can you please help me?”
            Building wealth

 Saving


 Wealth   building
           What is wealth?

 Wealth means different things to different
  people and is something you have to define
  for yourself.
             Defining wealth
 Building Wealth: A beginners guide to
  securing your financial future, page 1.

  – Write down what wealth means to you.
   Principles for building wealth
 Budget to save.

 Save and invest.

 Control debt.

 Protect your wealth.
       What is a budget?



– An itemized summary of probable income
  and expenses for a given period.
        Setting financial goals
 Be realistic.

 Establish time frames.

 Devise a plan.

 Be flexible—goals can change.
       How to track expenses
 Case study: Building Wealth, page 5.

 Track your own expenses for a week.
            A Penny Saved
 Homework assignment

  • Read pages 1–8

  • Prepare for quiz
        A Penny Saved: Quiz
 What is meant by ―saving‖?
 List three examples given of what people
  went without because they did not save.
 Why would someone deposit their savings in
  a savings account in a bank?
 What is the benefit of compound interest to
  a saver?
 What is ―the rule of 72‖?
           Fed Casher info
 Read Building Wealth, page 10.



 Compound interest
              Call from Jeremy
            in Lendon, Nebraska

   “Hi, Fed. I am 22, and I get lots of credit
    card offers in the mail. I have a good job
    and no debt, but I’ve never had a credit
    card before. Can you tell me how I can
    sort through the offers and try to make a
    good decision?”
      Applying for credit cards

 Refer to your Applying for Credit and
  Charge Cards brochure.

 Read the section ―What must be disclosed.‖
         Comparing credit cards

 Refer to your Choosing a Credit Card publication.
 Complete the activity on pages 2 and 3 using
  information provided by your teacher.
 What similarities and differences are there
  between and among cards?
 Which card would you recommend for Jeremy?
  Why?
          Call from Jamie
     in Crisis Living, Alabama

 “Whatis a credit report, Fed, and how do I
 get mine?”
               Useful tool
 Get 1 free copy per year from
  www.annualcreditreport.com

 Other sources:
  – Equifax (800-685-1111)
  – Experian (888-397-3742
  – TransUnion (800-888-4213)
              Call from Andy
        in Shortchange, Tennessee
   “Hello, Fed. First-time caller, long-time
    listener. I want to know what I can do to
    protect my possessions and myself against
    unforeseen losses such as theft, fire, or
    accidents.”
        Putting it all together
 Prepare a written report for the caller
  assigned to you.
 Summarize the question or problem.
 Suggest strategies or steps which can be
  taken to answer the question or address the
  problem.
 Refer the caller to additional sources of
  information or further reading.