CHAPTER 11 PROSPER - FICO score range from 300 to 850 A...

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CHAPTER 11 PROSPER Changing and strengthening your money management skills can impact your life forever and make you fiscally fit. Most of this chapter will be devoted to teaching vital points about current and future finances. Important tips for preparing for the future: 1. Practice delayed gratification. 2. Take a personal finance course 3. Learn to understand financial lingo. 4. If plan to operate any kind of business, take accounting and tax law courses. 5. Save your change every day. 6. Write down everything you sped. 7. Apply for every type of financial aid. Federal financial aid eligibility and types 1. Pell grant 2. Federal supplemental educational opportunity grant (FSEOG) 3. Stafford Loan 4. Unsubsidized Stafford loan 5. Plus loan 6. Work study 7. Hope scholarship tax credit 8. Perkins loan What is FICO Your credit score referred to as the FICO score. Fair Isaac Corporation (FICO) score calculate using information form credit history and files.
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Unformatted text preview: FICO score range from 300 to 850. A good score is considered 720 or above. The 10-year plan According to web site the digerati life (2008), some prime causes of money drain are: 1. Gum – pack day cost $5,488 in 10 yrs 2. Bottled water – bottle a day cost almost $5,500 in 10yrs 3. Eating lunch out daily – will cost you over $35,000 in 10yrs 4. Junk food, vending machine snacks – cost at least $4,00 in 10 yrs 5. Unused memberships – unused will total over $7,500 in 10 yrs 6. Expensive salon visits – cost over $30,000 in 10 yrs 7. Cigarettes – cost over $25,000 in 10 yrs Many young people fail in management of their personal finances, no reason you cannot manage your financial business well. Think about personal finance and management of money and investments as basic survival skills that are very important to you now, as well as for the rest of your life....
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