5 No Cost Things You Can Do to be Financially Stable

People that teach financial education often talk about lowering your expenses and increasing your income to increase your financial stability. Of course those things are good but today I want to focus on the five free things you can do to increase your financial stability.

For all of my personal finance tips, order my book “10 Things College Students Need to Know About Money“. If you already have a few challenges, order my Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook“.

 

#1 Open an Account at a Credit Union

One of the best financial decisions you can make is to open a checking account at a credit union. It costs nothing to open an account and the benefits are many: better customer service, often lower account fees, usually cheaper car loans, mortgages, and credit cards, and the opportunity to build a relationship with a financial institution with all these great benefits before you need to ask for a loan. Check here to find the credit union closest to you.

 

#2 Check Your Credit Reports

You may know that there are three credit reports and three credit scores for each of us but did you know that you can have free access to your reports? The credit bureaus have the right to control who has access to the scores that they’ve created the mathematical formulas to create, BUT the records …  the information that make up the data those formulas use is your data and is free for you to access. Visit AnnualCreditReport.com to get a free copy of your reports once every 12 months.

 

#3 Collect Your Change

For years I’ve told people that an easy way to find money to build up your Emergency Fund or invest in a no-load mutual fund was to throw your spare change in a jar. I still believe it’s true. On average, you’ll have about $50 per month is quarters, dimes, nickels, and pennies. Instead of that spare change ending up under the couch cushions, in your car’s ashtray, and at the bottom of your purse throw it in an empty water jug or an actual piggy bank. Don’t believe me? Check out this blog.

 

 

#4 Open a High Yield Savings Account

Since I’ve been badgering you to create an Emergency Savings Account, I thought I’d help you out by providing you with the latest lists of accounts with the highest interest rates (you’ll earn more money than at your local financial institution) across the US. Check out the highest yielding savings accounts here.

 

#5 Choose You

This is the hardest free thing you might ever have to do: choose yourself over everything. Choose to save some money for an emergency instead of eating out. Choose to invest some money in a mutual fund instead of purchasing an extra excursion on a trip. Choose to think you’re going to create the exact life you’d like to have …   and then do the prep work so when your opportunity comes, you’re ready.

 

 

 

 

 

 

FREE Workshop: Paying for College

There have been some changes to the way high school students apply to FAFSA. Families need to know what the changes are, what the important dates not to miss are, and how to get students graduated from college not mired in debt.

Financial education speaker and the author of “10 Things College Students Need to Know About Money” Shay Olivarria will be facilitating a FREE workshop in San Diego, CA to help families figure it all out.

In this dynamic one hour workshop students and parents will learn about the changes to the FAFSA application, scholarships, student loan types, and repayment options.

Families will leave with a handout of important terms, tips, and dates. Graduating from college is not just about having the grades to get in. It’s about finding a school that’s a good fit, paying for it without going broke, and creating a network to build a career.

FAQs

What can I bring into the event?

Bring a pen or pencil. This is a workshop (you’ll be engaged) not a lecture.

How can I contact the organizer with any questions?

Call (323) 596-1843

What’s the refund policy?

Early Bird ticket holders will receive a free copy of “10 Things College Students Need to Know About College” at the event. If you don’t show, you don’t get your copy. Books will NOT be shipped.

Do I have to bring my printed ticket to the event?

Yes. Seating is very limited so tickets will be necessary. Showing your ticket on your phone also works (save a tree).

Is it ok if the name on my ticket or registration doesn’t match the person who attends?

Yes. Whoever shows up needs access to a ticket. If you booked a ticket for yourself and now your cousin wants to come instead, that’s fine.

 

 

Shay Olivarria is the most dynamic financial education speaker working today. Previous clients include: SCE Credit Union, American Airlines Credit Union, the Yorba Linda Water District, Verizon, among others. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, NBC Latino and The Credit Union Times.The 2nd edition of “10 Things College Students Need to Know About Money” is available now.

 

 

FREE Webinar for College Freshman

Click photo to register

Have a high school grad that’s headed to college? Did you learn some financial lessons the hard way and prefer that your child not make the same mistakes? You’re in luck! This September financial education speaker and author Shay Olivarria is hosting a FREE (yes, that’s f-r-e-e) webinar to give college freshman a leg up.

 

Freshman Facts: 5 Things College Freshman Should Do to Build Wealth

 

 

Engage in this dynamic, fast-paced webinar with financial
education speaker and author Shay Olivarria. Participants will learn:

– Where to put financial aid money for best money management practices.                           – How to spend money, have fun, and be responsible.
– What accounts to open to build credit scores.
– Where to put your pennies to become wealthy.
– Pros and cons of available personal finance apps to leverage your current behaviors.

 

 

Shay Olivarria is the most dynamic financial education speaker working today. Previous clients include: SCE Credit Union, American Airlines Credit Union, the Yorba Linda Water District, Verizon, among others. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, NBC Latino and The Credit Union Times.The 2nd edition of “10 Things College Students Need to Know About Money” is available now.

 

myRA Might Be the Solution for High School and College Students

If you’ve read “10 Things College Students Need to Know About Money” you know that I am a HUGE advocate of young people investing from retirement as soon as they have earned income. For many people that time is while in high school or college while you’re working part-time or eeking a living out of financial aid. Often, young people don’t know how to open an Individual Retirement Account (IRA) or don’t think they have enough money to open one (get my list of investment accounts you can open for less than $100 here).

The United States government is here to help with the new myRA (my retirement account, get it?). According to the U.S. Treasury,  these accounts are:

• Easy to set up (you can have the money deducted from your payroll check if you wish)
• Designed to help people with little money or no access to a retirement plan from work.
• No risk of losing money (funds are invested in a Thrift Savings Plan-like account)
• The funds you invest are NOT tax-deductible but you also can take them out whenever you like without penalty.

The best part? There is no minimum amount required to start an account and according to Forbes, ” additional contributions only have a minimum of $5.” The goal is really to get you into the habit of investing when you are young and have few dollars. The return isn’t great (think 1% or 2% per year) compared to a regular traditional or Roth IRA or 401(k)/403(b) but starting now with a few dollars and little interest is better than not doing anything.

Fool.com also notes:

Account holders can contribute up to $5,500 per year ($6,500 if over 50) and may continue to contribute until their total account balance reaches $15,000. All funds are invested in a newly created Treasury bond

Once you’ve grown a nest egg big enough to open a traditional or Roth IRA, or you have a job that provides a 401(k) or 401(b) hopefully with matching, you can roll the money over into a new account.

Click here to find out more about myRA accounts.

 

 

Virtual Book Launch June 8th

As you all know, I am ecstatic about the printing of the 2nd edition of 10 Things College Students Need to Know about Money! I’m so excited that for the first time ever I’m hosting a virtual book launch on Facebook. What is a virtual book launch you ask? Good question.  *wink*

A virtual book launch is an opportunity for you to ask me about the book, win some cool gifts and score an AMAZING discount on the book. I’m so excited.

Sign up to receive my emails and get another gift.

Subscribe to our mailing list

See you Wednesday, June 8th between 6:30pm and 8:30pm Pacific Standard Time.

10 Things on Kindle for $3.50! Order Now!

I know you’ve been thinking about ordering copies of 10 Things College Students Need to Know About Money for your children, grandchildren, cousins, neices and nephews but you wanted to read it first, right? You wanted to make sure that it was a good read with real information about personal finance. Well, here’s your chance! 10 Things College Students Need to Know About Money is now available on Kindle for only $3.50 per download!

Download yours on Amazon.com now.

 

 

 

Click the image to read more about Shay speaking at Cal State Long Beach.

Shay Olivarria is the most dynamic financial education speaker working today. She speaks at high schools, colleges, and companies across the country. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, NBC Latino and The Credit Union Times, among others. To schedule Shay to speak at your event visit www.BiggerThanYourBlock.com

Improving Every Year

Abby Ulm, Foundation Manager at SCE Federal Credit Union, and Shay Olivarria at the Los Angeles Federal Reserve during a field trip with local high school students.

More great news! SCE Federal Credit Union Foundation (now the Center for Financial Empowerment) works with several high schools around the San Gabriel Valley and in the 2012 National Financial Capabilities Challenge 24 of the 415 students nationwide (that’s about 6% of ALL the students across the nation) were students that SCE Federal Credit Union Foundation worked with!

In 2012,  35 schools in California took the challenge (that’s about 67% of all schools in California) and the students that SCE FCU Foundation worked with scored really well. In fact, there was an increase of students that scored in the top 20% in year two.

In 2011, the SCE FCU Foundation had 10 students that scored in the top 20%. This year that number increased to 24 students. That’s more than 100% increase!  There were:

12 students from Baldwin Park High School

7 students from Duarte High School

5 students from Colony High School

 

Congrats to all the students and the team at the SCE Federal Credit Union Foundation!

 

Millennials and Financial Literacy

Just read this article in USA Today about young people that have graduated from college and are flying through life with little knowledge of personal finance. It doesn’t surprise me because this article just came out from Society of Human Resource Management (SHRM) that ranks each state in two categories: knowledge of personal finance concepts and application of those concepts in everyday life.

$15 on Amazon

Buy a copy of 10 Things College Students Need to Know About Money for the student in your life.

The parental instinct to provide for your children can actually be detrimental to preparing them to be financially independent. Beacham says it’s an “unintended consequence” that leaves adult children unprepared to handle their own finances. “You feel like a good parent if you’re taking care of your child,” she says. “(But) the reason kids on college campuses don’t know anything about money is because they have no skin in the game because their parents are still paying. Their child is going to pay a much higher price for the lack of experience and knowledge they have on graduation day.”

So what can parents do to help students learn about personal finance? Take advantage of teachable moments, attend events that reinforce financial education principles, and provide resources to help students understand personal finance concepts.

 

Shay Olivarria is the most dynamic financial education speaker working today. She speaks at high schools, colleges, and companies across the country. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, and The Credit Union Times, among others. To schedule Shay to speak at your event visit www.BiggerThanYourBlock.com

Wonderful people

This doesn't really have to do with anything, but I liked the title of the album. It fits, no?

 

I met some great students today. Great students. I won’t share their names because I didn’t ask, but today I met:

An architect

A poet

A writer

An investor

 

I know that they are just beginning their journeys, but I’m loving their energy and I want to publicly proclaim that they are amazing!

I don’t usually post things written by other people, but I met this guy today and I couldn’t not share is genius. Since he’s a published writer I don’t feel bad about sharing his name. Please take a look at the articles Anthony Turner has written and share them with a friend.

Trayvon Martin, Unarmed and Innocent on the NYTimes blog

As a young black male myself, I sometimes get the sense that other people judge me on my appearance. The fact that I’m a black kid in a hoodie is a mark against me (even though I don’t do anything “suspicious” at all). At times I feel self-conscious, wondering if people on the subway or street automatically wonder: “Is he a troublemaker? Should I hold onto my phone tighter?” It makes me feel bad to think that these kinds of thoughts surface in people’s heads when they see a black person.

 

Foster Teen: ‘I Needed Emotional  Support, Not Medication” on The Huffington Post

My caseworker came to my foster mom’s house and told me that he would take me to KFC and then to a “nice place to get help.” I thought, “OK, that sounds cool. I get my favorite food and I go to a center to feel better.”

The next stop we made was a psychiatric hospital for kids. We went through door after door, and it dawned on me that every door had a lock. Once the door shut you couldn’t open it. The doors locked you in. They intended to keep me here. That realization gave me a panic attack. I started running and the security tackled me. I was forcibly dragged in.

 

Huffington Post – “Foster Teen: I Was  Put In A  Psych Ward. I Wasn’t Crazy” was picked up on the Citizen’s Commission on Human Rights International website

I felt forced into signing a bunch of papers. I didn’t realize I was signing consent to take medication.

The first things they prescribed were Depakote and Risperdal. I didn’t get a say in what I wanted, and that made me feel powerless.

At the hospital, staff joked about it in a perverse way. “Hey kids, come and get your happy pills!” “Come right up for your Skittles, it makes the world a better place!” I was disgusted that the staff were making light of my situation. I wondered how they’d feel if they were forced to take pills in a lockdown facility.

Kids are awesome and I’m soooo looking forward to seeing all the good things they do in the  world!

 

PEACE,

Shay

 

Shay Olivarria is the most dynamic financial education speaker working today. She speaks at high schools, colleges, and companies across the country. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, and The Credit Union Times, among others. To schedule Shay to speak at your event visit www.BiggerThanYourBlock.com.

Books on Kindle

You’re wishes have been answered! Now, all three of Shay’s amazing personal finance books are available for Kindle.

All My Mistakes: Money lessons for emancipating youth on Kindle

All My Mistakes: Money lessons for emancipating youth in print

Click here to read about why Shay wrote this book.

In this autobiographical personal finance book for emancipating foster kids, the most dynamic financial education speaker working today, Shay Olivarria, shares money lessons that she learned during her life while experiencing the physical, emotional, and sexual abuse that led to her being placed in foster care.

Everything from finding an apartment and getting the utilities turned on to paying for college and saving for retirement are covered. Resources for emancipating youth shared from organizations across the country are also included.

This edition includes a bonus chapter on resumes, interviewing, and career advice.

10 Things College Students Need to Know About Money on Kindle

10 Things College Students Need to Know About Money in print

This simple book provides clarity in understanding the 10 things every college student needs to know about money, including money attitude, compound interest, credit unions, retirement accounts, credit, the CARD Act and net worth, with humor and brevity. A glossary of common personal finance terms is included.

Money Matters: The Get It Done in 1 Minute Workbook on Kindle

Money Matters: The Get It Done in 1 Minute Workbook in print

Finally, a workbook that makes money management simple! This easy-to-read workbook from personal financial literacy coach and professional speaker Shay Olivarria explains topics such as savings, goal setting, credit reports, credit scoring, net worth and retirement vehicles for the everyday person. As the old saying goes, “time is money” and with this workbook you can save quite a bit of both. The enclosed worksheets help you understand your financial situation and provide the necessary guidance to get your finances under control. In these tough times we must be proactive with our own futures and take control of our money; with Money Matters: The Get It Done in 1 Minute Workbook we can do just that.

Read a book review of Money Matters here.

Congrats!

Congratulations to SOAR’s Super Saje Squad for winning the first Black 365 Knowledge Bowl! The event was covered by Our Weekly:

“My mom was extremely proud and was talking to everyone on the phone,” Williams laughed. “I wasn’t surprised (when we won). I knew from the beginning we were going to win. I told my team we were going to outwork, out-perform, and outdo everyone. I told them, we have to act like we want it and if we do, we will get our heart’s desire.”

Each of the 15 participants received a copy of financial education book “10 Things College Students Need to Know About Money“. The event was held Saturday at United Christian Fellowship Church.

From Our Weekly:

Despite the forecast for rain and snow, community members, educators, parents and friends of the competitors filled the sanctuary with high energy and support.

Created by local griot, Black history scholar and community leader, Jamaal Brown, 28, the Jeopardy-style quiz game consisted of four rounds of 10 categories in Black history including Egypt, famous firsts, and Africa.

For five weeks, the students studied subjects from ancient Egyptian history to current Black accomplishments.

“My expectations were far, far exceeded,” Brown said. “The event was more spectacular than I imagined it would be. Everything from attendance and crowd participation to the level of excellence and the level of mastery the students displayed.”

I’m proud to support the Black 365 Knowledge Bowl.

Interview w/ CU Broadcast

I just finished my first interview with Mike Lawson at CU Broadcast. We talked my work teaching financial education to youth, my partnerships with credit unions around the country, and how the credit union industry can continue to grow and reach out to more members. We even talked about why I named my company Bigger Than Your Block and why I wrote “10 Things College Students Need to Know About Money” and “Money Matters: The Get It Done in 1 Minute Workbook”.

I had a wonderful time being interviewed and I’m looking forward to seeing the interview posted on CUBroadcast.com. Until then, take a look at the other interviews Mike has conducted with credit union industry professionals across the country.

WomenWorking.com

I’m pleased that WomenWorking.com has included an excerpt from my second book on personal finance, 10 Things College Students Need to Know About Money on their site.

Thanks WomenWorking.com!

There are 6 simple steps to getting what you want from your money:

Have you ever pulled $20 out of the ATM and two hours later you had no idea how you spent the money? Having a spending plan is a way to help you recognize what you’ve been spending your money on and what changes you may want to make. Use these simple steps:

Read the whole excerpt here.

Buy your copy of 10 Things College Students Need to Know About Money here.

CA CC & Kaplan

In case you haven’t heard, the California Community College District has entered into a Memorandum of Understanding with Kaplan University whereby students at CCs can take classes at Kaplan for a discount. Sounds good until you read the small print:

#1 Kaplan’s courses cost almost 10 times more than courses at California’s Community Colleges.

#2 Students would have to make sure that the Kaplan class would be acceptable for credit at the community college.

# 3 Even if the Kaplan course is accepted at the Community College there is no guarantee that the school that they transfer to will accept the Kaplan course.

Thanksfully, none of the Community Colleges in Kaplan have signed up to take advantage of the “help” offered from Kaplan, but Kaplan has helped themselves to the reputation of the California Community College system. Kaplan’s plan might be to “encourage” Community College students to transfer to Kaplan to complete their undergraduate degree. Kaplan’s reputation in high education circles is so-so, at best.

Be aware of what’s going on in higher education as costs are going up and what you get for your money seems to be less and less.

Teens Want It

According a study conducted by Charles Schwab, “nearly 9 in 10 say they want to learn how to make their money grow (89 percent). Two-thirds (65 percent) believe learning about money management is ‘interesting,’ and 60 percent say that learning about money management is one of their top priorities.” Do you know what that means? Young people want to learn about spending plans, acquiring appreciating assets, and creating emergency funds.

Order 10 Things College Students Need to Know About Money on Amazon. Click the photo for more information.

The key to guiding students is making all the tried and true information about personal finance apply to every day life. It’s not that there are any new ideas about money management under the sun. Oh, there are folks that will try to tell you there are. Those folks are liars. The same old strategies work the best:

Don’t spend more than you earn.
Put your money into appreciating assets.
Invest for retirement as early as you can.
Etc.
Etc.

The challenge is getting these stogy old ideas to the younger generations in a fresh way. You’ve told your students/children/relatives to set goals for themselves, right? Have you every put it in the context of rapper 50 Cent’s career? You’ve talked to them about creating a budget, but you explained the merits of spending plans? Sometimes it’s not what you say, it’s the way you say it. You think they’re not listening, but they are. You think they don’t see your behaviors, but they do. Teens want to know more about financial literacy. Meet them half way.