High School Money Hacks

 

Contents
About the Authors
Introduction
Targeted Audience
How to Use This Book?
Prerequisite

 

1. Time Value of Money
1.1 Present Value
1.2 Future Value
1.3 A Quiz
1.4 The Beauty of Finance
1.5 Why is there a Time Value of Money?
1.6 Introduction to Finance in Excel
1.7 A Note on Compounding

 

2. Power of Compounding
2.1 How Compounding Works?
2.2 A Simple Savings Example
2.3 How much does a $4 cup of coffee per day cost you?
2.4 Understanding APR, APY, and EAR
2.5 Loan Calculator and Remaining Loan Balance
2.5.1 Loan Calculator
2.5.2 Remaining Loan Balance
2.5.3 Total Interest Paid
2.6 Car Loan Example- Payoff or Invest?
2.6.1 Finance & Invest
2.6.2 Pay Cash
2.7 Inflation, the Anti-Compounding

 

3 High School Money Hacks 
3.1 Are you busy producing or consuming?
3.2 Know Your Paycheck
3.3 What’s Are These IRA’s I Keep Hearing About?
3.3.1 Traditional IRA vs. Roth IRA
3.3.2 Should I Choose Traditional IRA or Roth IRA?
3.3.3 Who can have an IRA?
3.3.4 What does it mean for you?
3.4 Budgeting
3.5 Maximize Savings – TIME Is Your Unfair Advantage!

 

4 College Education
4.1 Should I go to College?
4.1.1 Income Gap
4.1.2 Income Gap over a Career Life Span
4.2 How much should I spend on a College Degree?
4.2.1 How much will you make?
4.2.2 How much your college debt will cost you?
4.3 Paying for College Education
4.4 The 529 College Savings Plan: An Overview
4.5 The 529 Alternatives: What they didn’t tell you?

 

5 Credit Report and Credit Scores
5.1 What is a credit score?
5.2 What is a credit report?
5.3 Who uses credit reports?
5.4 How is credit score calculated?
5.5 Final Remarks

 

6 Further Reading & Recommendations
6.1 Kyle’s Video Resources
6.1.2 Power of Compounding
6.1.3 Whole Life Insurance
6.2 Michael’s Resources
6.3 Other Resources