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United States Financial Literacy Starter Kit, 2020

  • Book

  • 400 Pages
  • November 2020
  • Region: United States
  • Grey House Publishing Inc
  • ID: 5301337

Learn How to Make a Budget, Manage Debt, Rent an Apartment, Buy a Car, Manage a Checking Account, and Much More!

This greatly expanded second edition provides readers with easy-to-understand guidance on how to manage their finances. 

Financial Literacy Starter Kit breaks down the essentials of early financial literacy into easy-to-understand, step-by-step chapters. Readers will learn how to make a budget, manage debt, rent an apartment, buy a car, manage a checking account, calculate the cost of college, pay back student loans, get career advice, and so much more. Geared towards those who are just starting out, this volume provides easy-to-understand guidance on how to make the most out of their money, which pitfalls to avoid, and what to watch out for, to give young adults peace of mind that they are fully equipped to manage their finances after graduation.

Written in accessible language, the Financial Literacy Starter Kit takes the guesswork out of financial planning - how to manage a checking account, how to stick to a budget, how to pay back student loans quickly - information necessary for students to get started on their financial future.

Each chapter is devoted to a specific topic relevant to those who are just beginning. Combined, they provide students with helpful information on how to best manage their money.

Readers will get immediate answers and helpful guidance about: 


  • Starting a Career & Career Advancement
  • Buying a Car
  • Renting an Apartment
  • Calculating the Cost of a College Education
  • Student Loans, Grants & Scholarships
  • Understanding Renters’ Insurance
  • Starting a 401(k)
  • How to Make and Stick to a Budget
  • Managing Debt
  • What to Know About Checking Accounts
  • Understanding Health Insurance Plans
  • Paying Back Student Loans
  • Understanding Auto Insurance

Free Online Access

This second edition comes with free online access on the popular Salem Press platform. With unlimited users and remote access included, your students and researchers can now search this amazing collection of helpful information, anytime & anywhere, all just a click away.


Table of Contents

1. How to Make and Stick to a Budget
  • Benefits of Having a Budget
  • How to Make a Budget
  • Needs & Wants
  • Sample Budget
  • Budget Worksheet
  • Other Budgeting Strategies
  • Budgeting & Savings Apps
  • Ways to Cut Back
  • Credit Cards & Debt
  • Credit Counseling & Debt Consolidation Agencies
  • Set Goals
  • SMART
  • Do the Math
  • Budget Methods
  • Budgeting Software & Apps
  • Sticking to Your Budget
  • Banking Tips
  • Sample Budgets
    • Sample Budget for High School Students
    • Sample Budget for College Students
    • Sample Budget for a Single-Person Household
    • Sample Budget for a Two-Person Household
    • Sample Budget for a Household with Children
    • Create Your Own Budget Worksheet
  • Budgeting Resources
    • The 50/30/20 Rule
    • Budgeting Software
2. How to Manage Debt
  • What is Debt?
  • Interest
  • Collateral
  • Good Debt and Bad Debt
  • How Much Debt Is Too Much?
  • Calculate Your DTI
  • How to Make a Budget
  • Budget Worksheet
  • Credit Cards, Charge Cards & Debit Cards
  • Pay Credit Card Bills on Time
  • Prepaid Cards
  • Reward Cards
  • Take Steps to Reduce Debt
  • Ways to Earn More Money
  • Other Debt Strategies
    • Balance Transfers
    • Interest Rates
    • Lower Interest Rates
    • Debt Consolidation
    • Debt-Relief Programs
    • Personal Loans
    • Credit Counseling
    • Debt Management Plans
    • How to Choose a Reputable Credit Counselor
    • Debt Settlement Companies
    • Use Caution When Shopping for Debt Relief Services
  • Bankruptcy
  • Ways to Save
  • Plan Ahead
  • Credit Scores
  • How to Find Out Your Credit Score
  • Building Good Credit
  • Maintaining Good Credit
  • Checking Your Credit Report
  • How to Get a Good Credit Score
  • Payday Loans
  • Predatory Lending Practices
3. What to Know About Checking Accounts
  • Checking Accounts
  • Benefits of Having a Checking Account
  • How to Choose a Bank
  • Sample Overdraft Fees
  • Types of Checking Accounts
  • How to Open a Checking Account
  • Debit Cards (Check Cards)
  • Check Register
  • How to Balance a Checking Account
  • Steps to Balancing a Checking Account
  • Checkbook Worksheet
  • Account Balancing Software
  • Savings Accounts
  • Joint Accounts
  • Online Banking
  • Online-Only Banks
  • Budgeting, Savings & Payment Apps
  • How to Avoid Overdraft Fees
  • How to Avoid Other Bank Fees
  • Lost or Stolen Debit Cards
  • 2020 Rankings of the Best Checking Accounts
  • Helpful Resources
4. Calculating the Cost of a College Education
  • Investing in Your Future
  • Explore Your Career Options
  • How Much Does a College Education Cost?
  • More Education Usually Means Higher Earnings
  • Choosing a School
  • Estimate Your Financial Aid Availability and Cost of Attending Your School
  • School Costs Comparison Worksheet
5. Student Loans, Grants & Scholarships
  • Applying for Student Loans
  • Types of Student Loans
    • Federal Student Loans
    • Private Student Loans
  • Apply for Federal Student Loans First
  • How Much Money Can I Borrow in Federal Student Loans?
  • The Application for Federal Student Aid: FASFA
  • Independent Students
  • Processing Your FASFA Application
  • FASFA Deadlines
  • Borrow Only What You Need
  • Your Financial Aid Offer
  • How to Apply for Grants & Scholarships
  • More Information About Scholarships
  • Work Study Programs
  • Accepting Your Aid Offer
  • When Will I Receive my Financial Aid?
  • How Will I Receive my Financial Aid?
  • Entrance Counseling
  • How to Avoid Scholarships and other Financial Aid Scams
  • Where to Find Financial Aid, Grants & Scholarships
6. Paying Back Student Loans
  • Payment Details
  • Loan Servicers
  • Student Loan Forbearance in 2020 Due to Coronavirus
  • Student Loan Assistance from Employers
  • Employers Offering Student Loan Assistance
  • Loan Consolidation
  • Repayment Plans
  • Loan Forgiveness, Cancellation or Discharge
  • Ways to Avoid Student Debt in the First Place
  • Education Benefits for the Military
  • Tactics for Paying Off Loan Debt
  • Emergency Measures
  • Financial Strategies
  • Budget Worksheet
  • Banks & Consolidation Rates
  • Income-Driven Repayment Plans & Direct Consolidation Loans
7. Starting a Career & Career Advancement
  • Choosing to Choose
  • Evaluating Your Career Path
  • Where to Look for Jobs
  • Job Search Engines & Job Boards
  • Job Centers
  • The Library
  • How to Write a Resume That Stands Out
  • Getting Ready for Your Interview
  • Evaluating Potential Employers
  • Career Coaches
  • Advancement: Promotions
  • Have a Promotion Plan
  • Asking for a Raise
  • Tips for Asking for a Raise
  • Where to Look for Information
  • Evaluating Compensation Packages
    • Health Insurance
    • Retirement Plans
    • Bonuses
    • Profit Sharing
  • Making Comparison Charts
  • The Gig Economy
  • Beware of Freelance Work Scams
  • Last Words
  • Helpful Resources
8. Buying a Car
  • Buying New, Buying Used & Leasing
  • Know Your Budget
  • Know Your Credit Score
  • Find out What Car is Right for You, and Your Budget
  • Financing
  • Quote Comparison Worksheet
  • Locate Cars Through Local Media or Online
  • Compare Prices
  • Buying a Car Online
  • Check Insurance Rates
  • Buying a Car from a Private Seller
  • Shopping for Cars on Craigslist
  • Be Safe
  • Test Drive the Car
  • Test Drive a Few Cars
  • Check the Vehicle History Report
  • Have Your Mechanic Inspect the Car
  • Get Ready to Negotiate
  • Buy the Car
  • Register Your Car with the Department of Motor Vehicles
  • Leasing a Car
  • Leasing Terms You Should Know
  • Negotiate
  • You Should Get Extra Insurance
  • Pay Attention to Fees
  • Know Your Mileage
  • When Your Lease is Up
9. Understanding Auto Insurance
  • If you Drive, you Need to be Insured
  • Buying the Right Auto Insurance will Help you in at Least 4 Ways
  • Types of Coverage
  • Understanding Liability Coverage Limits
  • Vehicle Coverage
  • Medical Coverage
  • Other Coverage
  • Car Insurance Needs
  • Loan or Lease Requirements
  • How Much Coverage Should I Get?
  • Car Insurance Deductibles
  • Checking Rates
  • About Rates: Why Rates Vary
  • Credit Score
  • Gender of Driver
  • Driving Record
  • Lowering Your Rate
  • Filing a Claim
10. Renting an Apartment
  • Getting Ready to Rent an Apartment
  • Make a Budget for Rent
  • Budget for Furnishings, Too
  • Searching for an Apartment
  • Paperwork You’ll Need
  • What is a Lease?
  • Upfront Costs
  • The Length of the Lease
  • Security Deposit
  • Ongoing Costs
  • What About a Roommate?
  • Make Sure All Roommates Sign the Lease
  • Roommate Agreements
  • Pets
  • Insurance
  • Policies & Rules
  • Moving Out
  • Sublease Agreements
  • Automatic Lease Renewals
  • Who is in Charge of Repairs & Maintenance?
  • Beware of Verbal Promises
  • Apartment Inspection
  • Read Your Lease Carefully
  • Signing a Lease
  • Keep a Copy of Your Signed Lease
  • Defaulting on a Lease
  • Exceptions for Military Personnel
  • Exceptions for Victims of Domestic Violence
  • Things Landlords Cannot Do
  • Beware of Rental Scams
  • Budget Worksheet
11. Understanding Renters’ Insurance
  • Why do you Need Renters’ Insurance?
  • Cost & Coverage
  • Types of Coverage
  • Deductible
  • Covered Perils
  • Perils Not Covered
  • Personal Property Covered
  • Personal Property Not Covered
  • Additional Coverage
  • Liability
  • Take a Home Inventory
  • Home Inventory Worksheet
  • Applying for Renters’ Insurance
  • The Application
  • How Much Coverage do you Need?
  • Sample Renters’ Insurance Application
  • How to File a Claim
  • Quote Comparison Worksheet
  • Description of Perils
  • Helpful Resources
12. Understanding Health Insurance Plans
  • What is a Health Insurance Plan?
  • Health Insurance Policy
  • Sample Private Health Plan Benefit Costs
  • Sample ACA Benefit Plan Costs
  • Insurance Card
  • Types of Health Insurance Plans
  • Managed-Care Plans
  • Pros & Cons of Managed Care Plans
  • Common Exclusions
  • Fee-for-Service Plans
  • High Deductible Health Plans
  • Health Savings Accounts
  • Direct Primary Care/Concierge Medical Care
  • COBRA
  • Military Health Care
  • Veterans’ Health Care
  • Disability Insurance
  • Dental & Vision Insurance
  • Medicaid
  • Medicare
  • Shop Around
  • Quote Comparison Worksheet
  • Helpful Resources
13. Starting a 401(k)
  • Would you like to have a million dollars?
  • What is a 401(k)?
  • The History of the 401(k)
  • Employer Matching
  • Maximum Contributions
  • When are Taxes Deducted?
  • When Can You Access Your Money?
  • Choosing Investments
  • Most Common 401(k) Investments
  • Mutual Fund Advantages
  • How Much Should You Invest?
  • Review Your 401(k) Contributions and Investments Every Year
  • Create a Budget
  • Budget Worksheet
  • Determine When You Will Retire
  • 401(k) Match = Free Money
  • How to Invest the Ideal Amount
  • Increase Your Savings with Every Raise
  • Set a Goal: Save 10 Times Your Annual Income by Retirement
  • Learn About the Funds in Your Plan
  • Vesting
  • Changing Your Options
  • Rollovers
  • Solo 401(k)
  • 401(k) Loans
  • Hardship Withdrawals
  • Pros and Cons of a 401(k) Loan
  • 401(k) Fees
  • Tips for Managing Your 401(k) Plan
  • What Happens if You Change Jobs?
  • Additional Types of Retirement Plans
  • Can You Have a 401(k) and an IRA?
  • Investing in 2020
  • Overview of Your Retirement Account Options
  • Helpful Resources
14. Appendices
  • Consumer Expenditure Survey 2018-2019
  • Average Hourly Wage & Annual Income by State
  • Occupational Statistics
  • List of Approved Credit Counseling Agencies by the U.S. Department of Justice
  • Where to Get a Free Credit Report
  • Free Application for Federal Student Aid (FAFSA) Form
  • Public Service Loan Forgiveness Employment Certification Form
  • Teacher Loan Forgiveness Application
  • 2020 Median Rent Estimates for a One-Bedroom Apartment
  • Application for Health Coverage & Help Paying Costs
  • Sample Health Insurance Application Form
  • Glossary
  • Sources

Samples

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