Transcript Jen and Bekeah’z Bankarama

Becky Hanna and Jennifer Paddick
How to Manage your Financial Situation
TD CANADA TRUST
Products and Tools for Students
 Free student bank accounts
 up to 25 transactions.
 Student Visa Cards
 No fee
 Helps develops a credit bureau file
 Great for emergencies
 Student Lines of Credit
 Preferred repayments (lower monthly payment)
 Low interest rates
 Products for some graduate degrees ie. MBA, law, veterinary
TD Canada Trust
 Financial Planning Tools
 www.tdcanadatrust .com….. “planning” “planning
tools”
 Student budget planner - (living expenses)
 Debt management calculator - (snapshot of your debt)
 Pre-authorized payment calculator - (projects savings
plans)
 Cash Flow calculator - (budget)
 Net Worth calculator - (measure your progress…use
this tool every 6 months to ensure your net worth is
increasing
TD Canada Trust
 Investment Options
 Savings accounts / automatic savings plans
 Large portfolio of mutual fund options
 Wide range of Guaranteed Investment Certificates
(GIC)
 Both of these encompass long and short term
investment
 Financial Planning Advice
 Debt Strategies
 Saving Strategies
Dealing with Student Loans
2 Basic Goals
1) Cash Flow
 Keep your monthly payments manageable
 Important when in a transitional time of life
2) Paying down the debt
 Reducing your debt once your income is stable
How To Manage Student Credit
 OSAP
 Understand interest relief and repayment options
 KNOW THE DEADLINES AND QUALIFIERS
Student Lines of credit
 Lower monthly payment compared to regular lines
 your credit limit will reduce at year end…consolidate!
Protect your Credit Rating
Only pay your minimum payment
Save your extra money in a savings account
to create a nest egg to help you with future
payments
**We can help you save**
Starting Early Grows Your
Investments
Investor “A” - Saves $40 / per week starting at age 25 AND ENDING at age 32
Investor “B” – Saves $40 / per week at age 32 UNTIL age 55
Your Contributions
Investor “A” : Total amount invested from your own money $14000
Investor “B” : Total amount invested from your own money $66000