Read chapters 6, 7, 8 and 9 in Mastering Money.
Answer the following questions:
• Is there any type of insurance you think you need and do not have now? Any type that you have but need to change?
• How do you do your taxes? Yourself? Accountant? Parents do it for you? Are you happy with that or would you like to learn more?
• Do you have (or your partner has) or do you think you will have any student loans in the future (for any degree, undergrad or graduate). If the answer is no, please move on to the next question. If yes, how much do you think you will have when you graduate with your undergrad? How about your grad degree if you plan on one? Use an online calculator to estimate your payment for the 10-year standard repayment plan. Are you comfortable with that number?
• If you were to start your degree from the very beginning, what would you do differently? Majors, where you choose to go to school, anything that might impact your finances short and long-term?
• There is a good chance you will want to buy a house one day. Please find one you would like to live in on a website like Redfin and figure out how much you need for a down payment, closing costs and what your monthly payment will be. How much would you have to save per month and for how many years to make the house purchase a reality? Are you surprised at the number? Do you still want to buy a house?