Congrats to Lynda, the 09-10 SMHS Savings Challenge Winner!

Since the start of the school year, 5 SMHS students have been competing in the A+ Federal Credit Union Savings Challenge. They’ve set goals, met with an A+ Savings Challenge coach, attended monthly personal finance workshops, developed and taught their own money workshop, and worked hard to save money.

The contestants were judged by four A+ employees based on the amount of money they saved, their dedication to the monthly workshops, their peer presentations, monthly blog posts, and their coach’s evaluation.

Each of the contestants did a great job and we are excited to announce the winners.

- In first place, winning the $1000 prize is Lynda Brundin.
- In second place, winning the $500 prize is Solana Dever.
- In third place, winning $250 is Iris Ozuna.
- In fourth place, winning $250 is Katelyn Sundquist.
- In fifth place, winning $250 is Katherine Wright.

The contestants couldn’t have succeeded without the help of their coaches. Thanks to Nikki Vincent, Kim Zeringue, Gladys Garrett, Kelsey Blomdahl, and Emily Brewer for their dedication to helping their contestants learn about money and improve their personal finance skills. Special thanks to Lisa Mae Delgado, the San Marcos branch manager, for all her work during the Challenge.

And a final thanks to San Marcos High School for working with A+ Federal Credit Union and helping improve the financial lives of their students.

Again, congratulations to all the students and coaches.

What I've Learned

Throughout this whole competition, I've learned different things. I have learned what a credit union is, bankruptcy, managing money, using the credit union, and what a credit union actually does.

I have learned and experienced quite a few things. I believe that I joined this competition for a good reason.

Thank you all for just doing and helping with the competition and putting it together. It was really fun.

- Katherine W.

What I've Learned, Experienced, Taking with Me

It seems like forever ago when we first started the challenge, but looking back at everything now, I am thankful to be a part of this program because I have gained so much from this experience, and learned an abundance of information that I am taking with me in my future.

What I’ve Learned

The luncheons have been a great help to me throughout the challenge, as a source of information that I didn’t have the slightest clue about before. The first luncheon we talked about the difference between a bank and a credit union. Yes, there is indeed a big difference between the two.

A credit union is a financial cooperative that is NOT driven by profit, which ties into the credit union motto, “not for profit, not for charity, but for service---People helping people.” Before this I knew that there was some difference, but if you asked me what the differences were, I would not have been able to answer.

Banks are commercial businesses while credit unions are non-profit. Banks are owned by stockholders and open to the public, as opposed to credit unions who are owned by the members and there are only members involved. The board of directors in a bank are paid, the board of directors in a credit union are volunteers. There are major differences that many people don’t know about that they should seek to find out before they trust either the particular bank or credit union with their money.

The second luncheon I learned how to set SMART goals and the importance of setting smart goals. I found this very beneficial to me after implementing it in my every day. I thought at first it could be a little silly and unnecessary, but I was wrong. Everyone has a goal they want to accomplish and in order to attain this goal; you should develop a plan to ensure that this is a goal you will achieve.

Some steps you can take in order to achieve this goal are to 1) set SMART goals. 2) Analyze information 3) Create a plan. 4) Implement the plan and 5) Monitor and modify the plan. In order to set a “SMART” goal it has to be Specific, Measurable, Attainable, Realistic, and Time bound.

Once you have your SMART goal, decipher if it is a short-term, intermediate-term, or long-term. From this you should create a plan in order to achieve your goal. After you have created a plan, make it happen! Ask those for help around you for help to stay on track. I find it helpful to write them down, even though that may seem silly, but seeing them every day helps you not lose sight of them.

Prior to the challenge I knew very little about credit, however after the luncheon regarding credit, my knowledge excelled in this area. I am thankful for all the information I have gained throughout this experience and am grateful that I can take it with me when I go to college.

Before going off on your own it is important to know all the logistics that are involved in credit, like the benefits and risks involved, your credit report and how to manage your credit. Without this knowledge you could potentially mess up your credit, which is something you don’t want to do.

As far as credit goes I also learned about investing in my future and information about insurance. Saving is what people do to meet short-term goals, while investing is setting money aside for longer-term goals. I also learned about the time value of money, the Rule of 72, Risk vs. Reward, stocks, Bull vs. Bear, compounding and diversification.

Kelsey’s luncheons also taught me how important it is to protect your assets. Even if the chances are one in a million, it’s that millionth of a chance that makes protecting your assets worth it because you never know what life will through at you. You need to be prepared in all cases. It's vital to know the terms regarding insurance, such as policy, premium, coverage limit, and a deductable because these are things you should take into account before choosing an insurance company.

I’ve learned the importance of saving throughout the challenge and I’m very grateful for that because I can always find something to spend my money on.

I can’t stress enough how no matter what, it is good to have money saved up because life throws you curve balls sometimes and you have to be ready for the repercussions. If you don’t have a cushion to fall back on in one of these situations it can be really tough. Which is why if you start saving now on a monthly basis from the money you earn, when you have a real job it will be a habit already to allocate that money into your savings.

What I’ve Experienced

At the beginning Kim, my savings coach, suggested keeping a register so that I always know my balance….I thought why the heck hadn’t I thought of that before. If I kept track of all my transactions, the date, amount, and location, I could look back knowing that this is how I spent my money.

Prior to the challenge, I would just call the number on the back of my card to find out my balance. However, even then it does not always tell you your active holds of your recent transactions. This also wasn’t the prettiest of situations for me. I would call in to find out that my balance was some outrageous low number.

I thought to myself, where did all my money go, it’s only the middle of the month and my budget is almost gone. When I started keeping a register though, this was never a problem, I always knew what my balance was at all times, which essentially is the only way to effectively budget.

Before when I didn’t keep track, I got into the habit of assuming that I had more money than I did and just swiped away, it’s an easy thing to do! With a register you know where you are spending your money and how much money you have before every single transaction.

Because I had to write everything down and keep a log of my spending, it showed me that I spend a TON of money on food. It really stumped me as to how much I thought I was spending and how much I was really spending.

At the beginning of the challenge, I wrote down an estimate of all the things I spend my money on for example, gas, clothes, nails, food, entertainment, etc, per month. When I wrote all of this out, my numbers were way off. The reason for this was because I had never kept track before, therefore leaving me almost clueless as to the amount, I was really spending and how I needed to cut down in certain areas in order to save.

The first couple months of the challenge I rarely carried cash around with me, I just used my debit card for all my transactions. Most of the time that will make due, but…not for when you go places and they only require cash.

For example I went to a concert in New Braunfels a while back and handed them my debit card to pay and they said, “Sorry, cash only, but there is an ATM inside.” Going to the ATM will get you cash yes, but also charges you a fee of at least 2.00. It’s not that much I know, but if you don’t have to pay it then don’t! There are many places like sports events, concerts, vending machines, and various other places that don’t take anything but cash. Therefore now I always have cash on me just in case!

What I’m Taking With Me!

I have absolutely no worries going into college when it comes to budgeting, saving, or anything! Thanks to the challenge I know how to effectively manage and handle my finances. It has taught me so much that I don’t know how everyone else survives without all the things I have learned.

I know what I have to do to keep my credit score up. I also know that when I have a goal to achieve, it only takes 5 easy steps in order to do so. The challenge has prepared me for my future tremendously. Budgeting and saving in high school and budgeting and saving in college are totally different, you are on your own in a way and have to adjust to the new environment.

Essentially I have taken with me a sense of responsibility; it feels good to know that about my self too. I’m proud of myself with how far I have come and plan to take all that I have learned and apply it in my future.

As for everyone who has helped me along the way and granted me this opportunity, THANK YOU. From the bottom of my heart, I really appreciate everything and am glad I got this opportunity.

- Solana D

About to be Tested

I am sad to inform you that the A+ Savings Challenge is coming to an end. Although I am really excited to find out the winner!

During the last couple of months I have learned how to effectively save my money as well as place it in different accounts other than a savings. Before the challenge I was completely oblivious to all of the other opportunities to earn money besides a savings account and playing the stocks.

I now know that there are mutual funds and bonds that I can invest in and CDs that will earn more interest than a normal savings account. I have also learned which of these investments are the riskiest and safest. It will be critical for my future to start investing.

My favorite part of the challenge probably has to be meeting with my coach and discussing my financial future. I can't tell you how helpful it was to have someone watch over me while saving money, keeping me aware of things that I really shouldn’t be buying and such.

On the opposite end, my least favorite part of the challenge has to be the luncheons. I always seemed to forget when and where they were. And even though this sounds silly, it took away from precious lunches with my friends, and my 30 minutes of school time that I actually didn’t have to take notes or do work.

By the way, THIS JUST IN: I have received another scholarship from UTSA that is renewable for my second year of college! That means I have to pay back $1,500 less in student loans. The SMHS scholarship ceremony is coming up next week, so hopefully I will also be receiving some local scholarships.

My senior year is coming to an end and now the “real world” is approaching me. This is the part of my life where my savings skills will come into play. Hopefully I paid close attention to my coach because I am about to be tested.

-Iris O.

Going Forward

Unfortunately this is my last blog, and I do have a little bit that I would like to say. I loved this school year, and the only bad thing about it is that it is already coming to an end. This has been one of the greatest experiences of my life when it comes to school, and I am forever grateful to have been given this amazing opportunity.

This past school year I have learned quite a lot with the Savings Challenge. I learned that sometimes it is better to invest than to save, and that if you do invest you can make more money quicker than if you just put money into a savings account.

My counselor Nikki and I really got along well, and I couldn’t imagine having anyone else to help me along. She was always telling me that I was doing so well with my saving, and gave me so much encouragement and insight that I really began to learn a whole lot more than ever before.

With the way the economy has been lately, I have learned that I should begin saving as much as possible or I might not have that much spending freedom when I want it. I wouldn’t want to end up needing or wanting something important, and not be able to get it because of irresponsible saving. I want to be able to do what I want when I want, which means paying for a new car with my mom, and also saving for college with a whole lot of scholarships. Ever since I was a little girl I would constantly save my money, because my mom told me that it would pay off in the future, and luckily it has so far.

My absolute favorite part of this experience was being able to take my friends to the lunches so that not only did I have their support, but they were also learning about important things to know when it comes to finances and saving for their future. The funny thing is that we were having so much fun learning that we didn’t completely realize we were learning as much as we did.

One of my friends from the Czech Republic said that she loved the luncheons and what was covered, and would love to be able to learn more.

I have encouraged all of my friends to try to apply for the competition next year. If anyone out there thinks that this might be boring, it is totally not. You will have a lot of fun, and will meet a lot of nice people along the way. The counselors rock and a few years from now you’ll thank yourself for doing it.

A final thanks to everyone, especially to my awesome coach Nikki who really helped me so much this year, you’re the best!!

- Lynda B.

Looking Back At My Journey

Last night was the appreciation dinner for the contestants, their parents, coaches, and judges. It made me realize that this journey is almost over. And on that realization I began to reflect on the journey itself.

I have learned so many things that are so incredibly vital to life, I don’t know how anyone could go without this knowledge and be able to make it in the world. I am grateful beyond words for the opportunity to participate in this savings challenge.

The scholarship money will definitely be beneficial and will help me to afford attending Baylor University in the fall. But the knowledge I gained about saving, loans, credit, etc are going to help me so much more.

Being informed about finances is the best present I could have received my senior year, and I am forever grateful to A+ for this gift. I had not realized how naïve I was until after the fact; I was under the impression I had it all together. But thanks to both of the Kelseys, the A+ website, and all of the other resources that were provided to me, I feel like I am ready to be on my own physically and financially.

I was always financially independent, but was never quite comfortable with the idea of having to be completely on my own managing my own money. With this new found confidence and knowledge I know that I will be nothing less than successful. And I also know that if I ever need to, my coach, Kelsey, is just an email away.

I loved working with her and know that I can go to her with questions, concerns, or just to talk even after the savings challenge is over. There is not a moment or experience that I regret or would change in the least. Every memory I have of the challenge is a fond one.

I will miss my meetings with Kelsey, where half the time we wouldn’t even talk about the challenge. I will miss the lunch meetings with the other Kelsey, and all of the wisdom she had to share through her fun power points. And I will miss the constant guidance that I received while partaking in the challenge, even though I know that I will be just fine on my own.

I have no idea how to repay A+ for all they have done for me and my future, but I think I have an idea. I will continue to utilize all that I have learned and all of the resources that have been provided to me. And the best thing of all, I will pass on what I have learned to someone else…which is the goal of the A+ Savings Challenge.

Once again, thank you so very much.

- Katelyn S.

Figuring Out How to Pay for College

Well last week was scholarship week at SMHS and I am so glad that I did not have to stress about it. I was one of the few seniors who was able to complete everything before the very last day.

Over the past year, I have applied for so many scholarships it is unreal. My only concern is not receiving as many as I hoped I would, then all my hard work would have been for nothing.

I have already been told by the University of Texas at San Antonio, the college that I have decided to attend, that I will not be receiving the Terry Scholarship nor any scholarship through the Honors College. As of right now, my only chances of getting a scholarship through UTSA are general scholarships.

On the bright side, I have received my first official scholarship by the Order of the Eastern Star that amounts to a grand total of $500. Don't get me wrong, I am glad for it, but I really hope that I receive bigger scholarships than that.

With only two months of my public education remaining, I have been getting really nervous about how I am going to pay for the next 4 years of my life. I have been crunching the numbers and I have figured out it is going to be costing me roughly $20,000 a year to go to school. That's more money than a used car! And the sad part is, even though this sounds like a lot of money, some schools cost nearly double that, not to mention that the price to attend a college increase every year.

In order to prepare for this huge investment, I have decided that I will be working at least 30 hours a week during the summer. Though I know most of the money I earn won't be going towards tuition, it will still be going to college related expenses. For example, I am going to need new sheets that will fit the size of my new bed, storage units, towels, dishes, and so on.

One thing I am so glad I don't have to worry about is buying a refrigerator and microwave, because they come with the dorm.

I am aware that there are plenty more expenses that I will need to worry about, but as of right now, I am going to set it in the back of my mind. I hope all of my finances will eventually find a way to get paid for without using student loans.

- Iris

Teaching My Friends

Hey, so I think my presentation went pretty well. Down side was that was the second day I had a presentation in a row, so I got blisters on my feet from wearing heels. But it’s alright I guess, I got a lot of compliments on how nice I looked.

My presentation was about saving; specifically, saving for college. I presented to my Health Occupation Students of America club during one of our regular meetings. All of us plan on going to college, and many to Med school, so I figured the topic would be appropriate.

I did my presentation in the form of a PowerPoint/speech, and I think it worked out fairly well. I don’t mind giving speeches; I’m not the kind of person that gets super nervous. I actually kind of enjoy the adrenaline rush, it’s like riding roller coasters or sky diving.

Many of my friends who were there for my presentation came up to me afterward and told me how much they enjoyed and learned from it.

I am so glad that I got the opportunity not only to learn, but also to teach. This is super valuable and pertinent information that all high school kids should have access to.

That’s why it is so awesome that we have an A Plus Federal Credit Union built right into our school. They focus so much on teaching the community, and especially high school kids since they have a branch at SMHS.

I definitely encourage everyone to get involved with the programs they have. Not only do you learn important information…. But they often give you money too! Seriously, don’t waste opportunities like these. It has made a HUGE impact in my life and has completely changed my outlook on a lot of different things.

College and life in general will be so much easier because of this opportunity I got to participate in the A Plus savings challenge.

Reality TV and Debt

During the past year, I have learned that there are many reasons that people lose as much money as they do.

One reason is people use up too much fake money on their millions of credit cards and are incapable of paying back the debt. This causes them to go into debt, and occasionally can make them go homeless if they overspend too much.

Another reason is because they take way too many loans out of their banks and get to the point that they feel as if they don’t have to pay back their bills.

Issues such as this are becoming so popular nowadays that it has made the repo business very productive.

People such as the ones on the television show Operation Repo are able to pay their bills because of the repo job, and are trying to educate others how to keep on top of their bills so as to not get their things taken from them in a repo.

There are many things that can be taken in a repo, such as boats, cars, trucks, houses, and air planes. They are subject to repo because they are very expensive, and many people either can’t afford to pay for their property, or they don’t care. Most of these people have overspent and were taught that it was ok to do such things.

I also learned that if all the people in the world saved, and never had to pay any debt off to anyone else in the world, the world would be such a better place. Unfortunately though, borrowing has been overdone, and there is quite a bit of trouble paying off every ounce of debt owed.

For example, the United States is in such a large debt that some say we are risking going into another depression. We owe over seventy billion dollars by a long shot, and are going to be paying it off for centuries. Scientists and other people who are looking into this subject say that our grandchildren’s children will be paying off the debt that we are creating to this day.

- Lynda

Why Insurance is so Important

At our last luncheon we learned about insurance. Most of us are pretty knowledgeable to an extent as to what insurance is, but not all the logistics that factor into it.

When life is smooth and going great we don’t tend to think of insurance as a necessary thing, however when the tables have turned and find ourselves in a crunch we are usually thankful we have insurance to fall back on.

Insurance allows people to save for unpredictable life events in a popular and efficient way that really pays off in the long run. There are some people that might say that insurance is just “beating the odds” but in reality insurance is the ultimate winning situation for everyone.

In my perspective it is easy to sit back and say that you will most likely never be faced with a type of disaster or situation that is necessary for you to have insurance.

The thing is though, your chances of life throwing you a curve ball could be one in a million, but that one millionth of a risk can make or break you and therefore all the more reason for you to have insurance JUST in case.

Some people may ask, “What type of insurance do I need?”---Usually people tend to be concerned with four areas: their life, their possessions, their health, and their finances.

Something you should know when committing to an insurance company is you're just a statistic. To your insurer, you aren’t really an individual person; you are a risk.

Insurance companies base the premiums you pay based on risk factors that include things like your age, driving record, occupation, assets and liabilities and health. Actuaries use these factors to determine how likely or unlikely the insurance company is to end up paying out money because you get ill, crash your car, suffer a home burglary or die (depending on your type of insurance).

I’ve learned that every insurance company is different and has their own way of doing things so it is important that you shop around and pick a company that works best for you. I encourage not to just pick the company that is the cheapest because usually the ones that may be a little more expensive are worth the extra couple bucks. Here are some questions to ask yourself before choosing:

• What conditions or exclusions does the company have that may prevent your claim from being paid?
• Will the company process your claim quickly?
• Will the company still be in business when file a claim?

Things people forget when it comes to insurance-

Read your policy!

• I can’t stress how important this is, because some types of insurance plans have loop holes that you don’t think about unless you have read your policy. Homeowner’s insurance is a good example. Certain things may not be covered so it is your job to find out and know before assuming and ending up in a tight spot.

Is there a discount for that?

• There are tons of things you can get a discount for so ask, it doesn’t hurt you, only benefits you. For example if you quit smoking your Life insurance may go down or if you install alarms in your home your homeowner’s insurance may go down. Also, stop speeding! Maybe that will make your auto insurance go down. So don’t forget to ask!

There are many things to know when buying insurance, so do your research and you will find yourself in a better situation in the long run.

Senior Year Costs

Trying to get ready for college is very hard.


You have to know what college you want to attend and more likely what you are interested in, like specific classes.


After you have all that done figured out you will want to start applying for financial aid. Examples of financial aid would be FASFA, loans, grants, and scholarships.


You have to be prepared for what the future holds, some of us may get rejected and some of us may get lucky.


It’s a big challenge, and for me it was very stressful. You have to turn in all of the scholarships and their requirements by the deadline. My experience of applying for college and all the financial aid forms was very difficult and it stressed me out bad!


Your senior year is what hits you the hardest, for example dealing with money and credit cards, and there is so much that you have to purchase. For example it was time for me to purchase my cap and gown and as I went through it the cheapest packet was $140, and the most expensive was $400.


Then of course you have your senior class trip and every one wants to attend that! All of this takes money, and in my opinion they should let you know as a junior to start saving up because your senior year is going to be very expensive.


- Katherine

Winding Down

I can’t wait to graduate. This has been a wild and crazy ride, but it’s almost over…the high school portion at least.

It has been really hard not being allowed to have a job. I can’t afford to put gas in my truck or my truck payments. Much less pay for the other little things I need like school supplies, etc. It is super frustrating. Especially when my parents get angry when I can’t afford things and ask for money, yet they are the ones who won’t let me get a job.


But club soccer season is coming up soon so hopefully I can get some reffing in and at least make a little bit, enough to get by anyways.


College will be super crazy, just like high school is. I will probably have to schedule bathroom and snack breaks into my day to make sure I get everything done like I do now (not really, but just about).


But at least I will have the option of working. Even if it is only on weekends, life will be easier when I can pay the bills rather than relying on my little brother to put gas in my truck.


So, the challenge is almost over. It’s kind of sad really, I’ve grown really fond of my coach, Kelsey. She has taught me so much.


But now the presentation aspect is looming in the near future. One more thing to fit in! But it’s alright, I’m super excited about showing off all I have learned and teaching my friends how to be financially smart as well.


I’m so glad A Plus has so many programs like this to teach high school students about money. As I have learned, it is super easy to mess up, just once, and be completely screwed for the rest of your life. For example, one over draft charge can affect your credit, which affects loans for the house or car you want.


I am very grateful for being able to have this experience and learn how to be financially savvy (not from experience!!).


And for people not in the challenge, check out their website. It has TONS of awesome, free stuff to help you learn about your money. Yeah, there is more to life than money. But money definitely controls the majority of it. A girl’s gotta eat!


Can’t wait to share how my presentation ends up going, but for now its top secret!


-Katelyn S.

Saving and Investing: What's The Difference?

I recently learned that there is quite a large difference between investing and saving.


For example, when you invest, you are able to earn more money in a shorter period of time, while with saving it usually takes quite a bit longer to earn the same amount of money.


There are many people in this country as well as in the rest of the world who invest their money in so many different things, such as banks and other famous stores. Unfortunately, when the economy began to have certain issues, these investors lost more money than they had originally invested and gained.


You can invest in real estate, the stock market, savings bonds, and more. A lot of people invest for retirement, so they can live better and not need to have a job.

Saving is another good way to earn money. When you add money to your accounts, depending on your bank or credit union, you can gain interest for putting it in there in the first place.


You gain money much slower than you would if you invested, but you are able to at least have money growing as you put in deposits and when you gain the interest. Be sure you don't use a lot of money from your accounts.


When you look at the long run, it does indeed help to save and invest for your future though, and try not to use your credit card!


By the way, my mom and I have to save extra money in order to go to Kuwait and Egypt like we are planning for my birthday. That is going to take quite a few pay days, and could possibly be slightly quicker if we invested, but we prefer to save for now with the economy as it is.

Talk and write again soon!


- Lynda

Setting, and Achieving, Goals

Setting goals is an easy thing to do, achieving them is the challenge.

That is an important thing to keep in mind when you are setting a goal for yourself. You have to ask yourself, is this goal attainable, or just something unrealistic? The key in this is to set a goal that you can achieve.

People tend to set goals and never actually achieve them because the fact that setting a goal is easy but losing sight of it is even easier.

After our luncheon about setting smart goals I realized that just thinking about a goal doesn’t help you achieve it, you have to take action and DO something! Here are some steps to take to help you achieve your goal

Take a stand!

A big factor is how much effort you will really contribute to accomplishing this goal. SO before you set any goal for yourself whether it’s a goal pertaining to your occupation or a personal goal you set just for you, take a stand in your mind that despite what obstacles it involves you will stick with it till it is FULLY accomplished.

Divide your goals into three categories

- One category being short-term goals (within the next three months), for example…a pair of shoes you want

- One category being intermediate-term goals (between three months and a year), for example…a spring break trip you plan on taking.

- And the last category being long-term goals (more than a year), for example…saving for college

Get your priorities straight

Your goals need to be in sync with your priorities, according to the type of goal being set. Look at your present situation first and evaluate where you are failing to improve there so that you can foreshadow how your long-term goals will turn out and if indeed they are realistic to fit you.

You also have to make sure they are SMART goals. In the last luncheon we learned what each word in SMART (according to setting goals) stands for:

Specific
Measurable
Attainable
Realistic
Time bound

It is important to keep all these key points in mind when setting your smart goals.

Write them down!

Sure people will say, “Why do I have to write them down? That’s silly, I know them all already, that is just a waste of time.”

Despite how silly you think this is, it WORKS!

Put them on your mirror, in your sock drawer, wherever you will see them. By seeing your goals every day, it enables you to not lose sight of them, which helps you better achieve them in the long run. When you just have them in your head not written somewhere for your eyes to attract, you may forget or not be reminded of them as you would if you saw them every day to motivate you!

Re-evaluate, take a second look.

Once you have them written down, make sure they are realistic and attainable for you. Are they way out of reach? Are they to simple? Don’t set goals just for the sake of setting goals, that’s not really the point here. Make your goals meaningful and with that make sure you also have the willingness, vigor, and determination to achieve these goals.

Make a PLAN

Depending on your goal, there may be many different ways to approach how to achieve it based on your ideal outcome of it. You have written the goals down, re-evaluated them, now time to get down to business! Decide on your plan of action and go for it.

Keep up with your progress!

This is very important because without it you don’t get the idea that you’re actually making progress and moving in the right direction of achieving your goal in your ideal time frame. Do any kind of tracking with your progress as much as possible, write it down, make a checklist on paper or in your head, or have checkpoints for yourself at certain dates so that you KNOW progress is being made.

Tell other people about your goals.

It is always good to involve others in your process of achieving goals. No one said you had to do it all by yourself! Be open to suggestions and advice they might have, it could possibly help you achieve your goal quicker or in a more efficient way.

Accept failure

If you learn to take on failure and keep going, there is nothing that can stop you from attaining your goal. There are supposed to be obstacles throughout the process that is natural! If you learn to be welcoming and accepting of it, the better off you will be. And most importantly, LEARN FROM IT!

Persist and review

It is important to review your plan regularly and make any adjustments if needed. With this comes persistence! Don’t give up, there may be many different paths you can take in order to achieve this goal, so try out different ones.

CELEBRATE!

When you have achieved your goal cross it off your list with a smile, knowing that you did it! You have essentially shortened your path to your final destination so live it up.

Revisit your list and ask yourself:

- Are my existing goals still worth achieving?

- Is there a new goal to add to my list?

- Is there an existing goal I want to drop or change?

- Don’t lose sight of your goals; stay focused till you reach your final destination!

That’s all for now :)

-Solana

Summer Time (almost)

In about three months school will be out, and for me, my high school career will end.

Right now is the perfect time to start saving for things to do in the summer. For me, that means going to the beach, hanging out at the river, road tripping and working as little as possible so I will be able to attend my friends’ graduation parties.

I know that I will be spending quite a bit of money this summer, so I need to prepare for it.

Step one: Cut down my spending money. Even though I don’t buy too many things or splurge on myself when shopping, I need to cut the amount of money I blow on random things. One major place I tend to spend my money is on restaurants, so I need to start eating at home more often.

Step two: Work more hours. Between school, sports and extracurriculars finding time to work is pretty hard, but with soccer season coming to an end I will hopefully be able to find more time in my schedule to work more hours. I also need to start picking up shifts so that that I can work doubles, that way I will be working eight or more hours in a day.

Step three: Start carpooling. One of my main expenses is paying for gas and with gas prices on the rise again my account is hurting. By carpooling I will be able to reduce the amount of gas I use and therefore the amount of money I spend on gas. This is also an excellent way do my part to help the environment.

Now that I have a plan to save money for the summer I actually need to follow through.

Not only do I need to save money in order to be able to have a good time with my friends this summer, but I also need to save so that I will have enough money to buy things for college.

Since I am no longer going to live at home I will need to buy many new things like bedding, a microwave, a refrigerator, and storage units for my closest and under my bed. Hopefully I will be able to save enough money necessary so may be able to do all that I wish to do.

-Iris

Home Stretch

This semester has been super stressful so far, and it is barely getting started. There has been so much going on it has been hard to focus on the challenge.

But with the final presentation coming up I need to carve out some time to start working on it. I have a fairly good idea of what it is I want to focus on; it's just actually finding time to put together the presentation that is hard.

Not only are my weeks booked with school, soccer, and clubs, but now my weekends are booked to with church, HOSA competition, Happening, etc. Time is hard to come by the last semester of your senior year.

Another big thing coming up is taxes and the FAFSA. I made less than $4,000 this year, yet somehow I owe the government $150. That is half a truck payment plus a tank of gas! And that is after my mom and I sat down and found ways to lower it, saving me $120.

Now that we have filed our taxes we can start on the FAFSA, which is best to get in ASAP. Money is given out on a first come first serve basis, so I am going to be first!

Baylor is expensive ($40,000 a year), and I need all the help I can get. I am also applying for every scholarship I can get my hands on, including another from A Plus.

Trying to keep my grades, GPA, and rank as high as possible as well as applying for all the free money I can possibly get will help keep me from having to take out a lot of loans.

Because although loans can be helpful, Kelsey and the "Foolproof" program online (which is free and available to everyone, so check it out!) have taught me that you have to be super careful with them. It is so easy to wreck your credit for the rest of your life, especially for college and high school students who are often uninformed.

For example, how many high school seniors who are looking at taking out some loans for college know the difference between subsidized and unsubsidized loans? I know I didn’t until Kelsey taught me.

So my advice to people my age: don’t go into it without knowing the facts. Take time to learn it before jumping into it, because a lot of times financial mistakes are hard to fix. Credit card companies, banks, loan agencies, etc. tend to not be as forgiving as one would hope. So make sure you take the time to check out the details, I know I will.

- Katelyn S.

30 Credit Cards

When I went to the meeting we had on Wednesday in the library, I learned that credit can be affected in many ways. If you have many debts to pay on credit cards, phone bills, car payments, etc. your credit score will be greatly affected.

I learned that if you have a bad credit score you cannot even buy a car, and if you are able to, you will have a higher interest on it. Also if you have a lot of credit cards, you could also end up having a bad credit score.

For example, my mom has a friend who has thirty credit cards, and almost all of them are maxed out, so therefore her friend has very bad credit. My mom on the other hand only has one card, and that is her debit/visa card. She only spends what she has in her bank account whenever she needs to and doesn’t have to worry about paying fees at the end of the month. A few years back she shredded all of her credit cards and has been happier since.

However, in my case, I don’t have anything but straight out cash that I can keep with me or in my bank account to keep it safe, which is perfectly fine with me.

Whenever I need something, I will be like my mom and use my own money, rather than borrowing it and paying it back later with extra fees.

I couldn’t imagine having to pay off as many credit cards as my mom’s friend has for example along with the extra interest rates added onto each one of her cards. The highest interest rate she has is 29.99 percent, so she is basically making the credit card companies rich just off of the interest alone.

This is why so many people find themselves in quick sand when it comes to paying off their credit cards. Most of the money goes towards interest, and very little goes to the principal.

It’s like being between a rock and a hard place when it comes to credit, because you have to take out credit in order to have a good credit score.

I think the main thing is you have got to be responsible with your credit debt and not treat it like it is money that is growing on trees, because when it gets right down to it, you will have to pay it back in the end.

- Lynda B.

Finances are Hard

The time looking for a school or financial aid is difficult. So is budgeting the money for school, including grants, loans, or scholarships.

Finances are hard to deal with when you barely know what you're doing. It takes time to deal with the management of money matters. With my finances, I would love to get a car first, go to college, get an apartment, and with whatever is left, help people.

There are a lot of things that have to do with finances or budgeting. Bills such as a car, house, cell phone, house phone, and more, need to be paid. If you have kids like me, they will need things that are very expensive.

You could give yourself a budget when you go shopping for groceries, clothes, shoes, hygiene stuff, and more. For example, you say you only want to spend $50 on this or that. That's to help you save money and stop from spending money you think you have, but don't.

- Katherine

Scholarship Time!

As a high school senior, I am preparing to go to college by filling out many different scholarship applications. I have always looked forward to receiving a higher education, but one obstacle stands in my way: I have to pay my own way.

You see, as child of parents who are in the middle class and with an older sister who is already attending a university, my parents can’t afford to send two children to college.

Currently, college scholarships are such a high priority in my life that I practically live in the career center. For the entire month of February I will be writing essays and filling out applications.

What I really need to do is find a scholarship that will give me more than a thousand dollars because most local scholarships only offer up to a thousand dollars. Although it is a substantial amount of money, college-wise this will only buy me text books.

This past week in particular has been crazy with scholarships. The worst thing about them is that even though you go through all the trouble to fill one out, you are not guaranteed any money.

The scholarship I have been most worried about is the Masonic scholarship. The one thing that had been holding me back from completing it was a personal essay that I had to write. The good thing is that the rest of the general local scholarships require that same essay, so once I have finished it I don’t have to worry about it ever again.

I am also trying to write a leadership essay so I may turn in my application for the UTSA terry scholarship. As much of a pain it will be to write this essay, this scholarship gives a minimum of 40,000 dollars to its winners. It is essential for me to complete this essay because it will also be going on my UTSA honors college application as well as a Time Warner Cable scholarship offered only to UTSA students. If I were to win these scholarships and other local ones, I might be able to graduate with little to no debt.

As of right now, I am in Denton, Texas visiting Texas Women’s University. If I happen to like it, I will need to study its cost and compare it to UTSA and Texas State University. Since Denton is so far away, I also have to consider how much it costs for me to make the drive home, because scholarships will not cover trips to and from the university. I guess it all depends on what I see tomorrow.

Currently, I am undecided as to which university I will be attending; however, scholarship money will definitely have a major influence in which one I will be choosing because my goal is to graduate from college without being in debt.

-Iris

Credit, College, and Beyond

In the last lunch workshop we learned about credit. Going into it, I wasn’t very knowledgeable on the topic so I was interested in learning more about it. I come to find out that credit is VERY important and everyone needs to be familiar with it. The first question I had was well what IS credit?

By definition it is: a contractual agreement between a lender and a borrower in which the borrower assumes something of value, and agrees to repay the lender on a future date. However that can be confusing, so basically in a different way of saying it, credit is: borrowed money that you can use to purchase things you need when you need them and then repay the funds back at an agreed on time.

I stress the importance of credit to people my age because; we are all going to college soon , therefore living on our own, perhaps getting student loans, and applying for credit cards. All of those things coincide with your credit score in one way or another.

So how does credit even work?

Great question! When you apply for a credit (example: card or credit loan), it’s the lenders discretion to decide if you meet the expectations or are a good candidate for receiving the loan. Their decision is based greatly on your credit history. If you have poor credit history and display late payments, then you are less likely to be approved for the loan or line of credit.

It’s not just credit card companies that are looking at your credit history though, its employers, insurance companies, landlords, etc. It is necessary for them to know your past payment history and spending tendencies to determine if you are responsible in that aspect. Chances are that if you were always late on payments in the past that you may indeed still carry that bad habit in the future.

One of the most important things on your credit report is your credit score which is a reflection of your credit report as a whole. This is a big factor in determining whether you are granted credit or not. The number includes several factors which are

- Payment History - 35%
- Outstanding Debt - 30%
- Credit History Length - 15%
- New Credit Applications - 10%
- Your Credit Mix - 10%

How can I build up my score?

This is a common question people often ask to get on track of if they have bad credit how to get BACK on track.

-- Make payments on TIME! --- You can open to accounts to help with this.

-- Make payments that are higher than the minimum required---people have then tendency to just pay what they have to but if it is possible pay a little bit more than the minimum, it helps you pay it off faster and looks good on your report!

-- Make sure you understand the basics of credit and its scoring

-- Apply for a SECURED credit card

There are many sites, and people that can help you better understand credit or get you started on the right track. You would be surprised at even little things that you don’t think are that big of a deal, but are actually a big impact!

GOOD LUCK!
--Solana :)

Financial Aid Saturdays

Did you know that completing the FAFSA (Free Application for Federal Student Aid) can increase a student’s chance at going to college by 350%?

I had no idea until I got involved with the Greater Austin Chamber of Commerce’s Financial Aid Saturdays events. Starting in February, in schools all across the greater Austin area, the Chamber will be holding Financial Aid Saturdays. Trained volunteers from all over will be on hand to help families and students complete the FAFSA. The service is completely free and only takes about an hour to an hour and a half to complete.

I remember my first time filling out the FAFSA. The form was long, many of the questions were confusing, and my parents and I had many arguments over what we were supposed to be doing. It usually took an afternoon to get everything together and finally fill out the form. And after I clicked “Submit”, I still wasn’t sure if I had done everything right. I would like to say there was a huge learning curve the following years, but there wasn’t. Every year was the same struggle. The only difference was I had a slightly better idea what I was doing (and my parents and I had a few less arguments).

So it only figures that after I graduate, the Department of Education would make some awesome changes to the FAFSA form.

This year, the online FAFSA is super easy to navigate and complete. At our training session for the Financial Aid Saturdays, we went through a demo FAFSA, and I just have to say that it is a great improvement. Now, if a question doesn’t relate to you, it doesn’t show up. You don’t even have to worry about it.

Filling out a FAFSA this year? Here are some tips. Also, be sure to check out the College Ready Austin website to learn more about the Financial Aid Saturdays. The volunteers will be there to walk you through the FAFSA and answer questions you may have. At the end of the session, you will have completed and (hopefully) submitted your FAFSA.

Basically, there are seven steps to filling out the FAFSA:

1. Student Demographics.

2. School Selection. You can choose up to ten schools you would like to receive your financial aid information. These schools can then look at your form and send you a financial aid package.

3. Dependency Status. This status determines whether or not the student needs to provide parental financial information. *Note, this is different than the IRS definition of independent and dependent.

4. Parent Demographics.

5. Financial Information. This information will be found on financial statements and tax forms.

6. Sign and Submit. To sign and submit electronically, both the student and the parent will need a PIN. This will be used every time you complete a FAFSA, so be sure to keep it safe. If you lose it or forget it, you can always request a duplicate PIN.

7. Confirmation.

To make the process go even faster, be sure to have to following items with you:

- Social Security number or alien registration card
- Driver’s license or equivalent
- 2009 federal tax returns (student and parents)
- 2009 untaxed income records (student and parents)
- 2009 financial institution statements (student and parents)
- 2009 business and investment records (student and parents)
- Federal Student Aid PIN (pin.ed.gov)

Links:

College Ready Austin
fafsa.gov

Setting Limits

Hey everyone,

Sorry it’s been so long since my last post, life has been CRAZY. Between finals, my soccer team going to district playoffs in San Antonio and then state playoffs in Beaumont (near the Louisiana border), family, etc., time has been hard to come by. This has made keeping my register up to date nearly impossible too. Today I plan on going online and comparing what I have written down to make sure it is accurate.

Money-wise, this time of year is always difficult for me. I am a very giving person, often to the point that I am willing to sacrifice my own comforts and needs to make others happy. I tried something new this year though to help with this; I attempted to set limits on each individual I was shopping for, however this did not always work out as planned. For example, a store was out of the thirty dollar angle-grinders. All that was left was the fifty dollar ones.

I have no idea how much I spent on Christmas collectively, and honestly I am a little scared to find out. Also, my boyfriend’s birthday is January 3, another expense to add to the seasonal list.

However, on a more positive note, I have been getting a lot of letters from colleges that I have already been accepted to and am considering offering even more money. YAY!! This definitely helps. It makes the thirteen years of busting my butt on my grades and education seem so worth it. So far all those slacking, it is really worth it in the long run. I really encourage everyone to do all you can to keep your grades up, it is definitely worth it. I will keep everyone updated on how the college stuff plays out.

I am super excited about 2010. Not only do I graduate (WOOHOO!!), it’s full of new opportunities and challenges. One of the biggest of these obstacles for me is going to be living on my own (hopefully in Waco). Being able to determine what are good prices and what are expenses that are needs versus wants is going to be vital in this change. Having to discover how to be financially independent, more so than I already am, is going to be a struggle, but I think I’m ready to take it on. I really think I can handle the pressures that it comes along with. Yeah, it may be difficult at times, but who doesn’t have it hare every once in a while?

I will let everyone know the damage Christmas has done after I am able to total it all up. I hope and pray that everyone had a safe and amazing Christmas and New Year’s.

-Katelyn

Learning to Set Goals

When I went to the luncheon meeting last week, I was able to learn a bit more about saving money and setting different goals. Most of my goals are set for long term, but there are always a few short term goals. For example, one of my long term goals is to save money for a car some time in 2012. My short term goals involve saving money for birthday and other holiday gifts for my friends and family.

I learned about how to save properly, for instance, to bring only the amount of money that I want to spend, and if I am using a credit or debit card to set a goal to not spend over a certain amount.

I also learned ways to prevent myself from getting the urge to spend money on things that I want more than need. I need to ask myself whether I need the things, or if it is only something that I want. For example do I really need that Robin Hood DVD from BBC (YES), or is it something that I can live without (OK I guess this would be the right answer so we’ll go with this one). It would be nice to have and I can survive without it, so I have to put it on my birthday or Christmas wish list.

I also learned that I should also try to find cheaper gifts that are just as good to give as well as receive. Cards are a good example of this. How many times does a person receive a card to only throw it away a few weeks later as to not clutter their space? If it’s a really special occasion such as a wedding, or a birth, then it is fine to buy a more expensive card to give out. Otherwise, I found that it is ok to give the fifty cent cards because it means just as much that you gave one in the first place.

Now that everyone must think that I am very cheap, I would rather be thought of as thrifty. This thriftiness will help me in the long run, and comes in handy when I am a little low on cash.

- Lynda