Career College Central

Subscribe at careercollegecentral.com 19 Here is a brief overview of the most important questions we want to help answer for you, and we hope that you will come back— starting in the spring—for more in-depth looks at each of these subject areas over the coming editions of Career College Central. We will start with financial institutions—who are you dealing with when it comes to all of your financial accounts?—and then move to the fundamentals: budgets, credit, debt, and savings. We will wrap up the series with recommendations for protecting yourself against identity the, an issue that is of particular importance and concern for many these days. Financial Institutions Financial institutions are not all designed alike. Commercial banks, credit unions, brokerages, insurance providers: How do they work? What services do they provide and how do you pay for them? When should you use each one? What is the role of the FDIC (Federal Deposit Insurance Corporation)? Each institution has its own benefits and risks depending on your personal needs. We will look at the most common types of institutions and the factors you should consider when comparing them, including security, convenience, liquidity, and interest. Credit Your credit score is an important indicator of your financial health. Who are the credit bureaus that determine your score? How is it calculated? What is it used for? If it is not where you would like it to be, how can you improve it? "Credit" can be more than just a credit card. What other lines of credit might you open, and when? And once you have been approved to open a line of credit, a whole new set of terms arise: APR, minimum payment, balance, credit line, overdra protection—just to name a few. We will help you learn all you need to know and find the resources you need to have great credit! Debt Once you have established credit, you will be able to borrow funds for some of life's more expensive moments: a car, a house, or an education. But borrowing money has its risks, and debt can pile up quickly. We will shed some light on factors like interest rates, principal amounts, consolidation, and delinquency, and share strategies for getting out of debt aer you have borrowed money. As a current student, how much should you borrow? What is the difference between private and public student loans? As a graduate, when will you need to start paying them back? What happens if you cannot afford to make payments? We will give you the ins and outs of navigating educational borrowing and repayment! Savings Saving money can help you reach a lot of different goals: buying a car, a house, or another large purchase; preparing for emergency or unexpected situations; getting ready for retirement; or even just having enough tucked away for a special night out with your sweetheart. How can you make sure you are putting enough

• Cover