Is your student heading off to college soon, then this presentation is for them. Help them learn the basics of starting out on their own. Part of Floyd Saunders' Personal Money Management seminar, covering the cost of moving, renting, signing a lease, living on a budget. It is all here.

1. Unit Two: living on your own
Off To College
and On Your
Own
June 2012
Saunders Learning Group, LLC, Andover, KS

2. Topics
 The cost of moving
 Budgeting for First Timers
 Signing that first lease
 Tracking Your Spending
Saunders Learning Group, LLC, Andover, KS

3. Training from Saunders Learning Group
Saunders Learning Group provides a variety
of training programs, workshops and
seminars targeted to the financial services
industry.
Programs are available in a wide range of
topics, and we are specialists in developing
custom programs that are targeted to your
needs.
Contact the founder, Floyd Saunders at
316-680-6482 or at
floyd@floydsaunders.com for more
information.
Saunders Learning Group, LLC, Andover, KS
3

4. Welcome
Introductions
Saunders Learning Group, LLC, Andover, KS

5. the costs of moving
moving-in costs can include:
 Rent for first month
 Rent for last month
 Cleaning deposit
 Security deposit
 Utilities deposit
 Telephone deposit
moving costs can include:
 Renting a truck
 Hiring movers
 Packing supplies
Saunders Learning Group, LLC, Andover, KS

6. moving budget
when preparing your budget, keep in mind:
 Your personal and financial goals
 Your income
 Your lifestyle
 Your fixed expenses
 Your flexible expenses
 Moving costs
 Moving-in costs
 The cost of setting up house
rule of thumb:
 You should spend no more than 40% of your net income on rent or mortgage
payments.
Saunders Learning Group, LLC, Andover, KS

7. budgeting to move
income
Job #1 $
Job #2 $
Total income $
fixed expenses
Rent $
Car Insurance $
Car Payment $
flexible expenses
Savings $
Food $
Utilities $
Clothing $
Entertainment $
Household items $
Personal items $
Tuition $
School expenses $
Saunders Learning Group, LLC, Andover, KS

8. budgeting to move (continued)
flexible expenses (continued)
Transportation $
Bus fare $
Gas and oil $
Parking and tolls $
Repairs $
total monthly expenses1 $
moving-in costs
Rent for first month $
Rent for last month $
Cleaning deposit $
Security deposit $
Utilities deposit $
Moving costs $
Other $
total cost to move in2 $
Saunders Learning Group, LLC, Andover, KS

9. budgeting to move (continued)
cost of furnishing and equipping an apartment
Bedroom #1 $
Bedroom #2 $
Living Room $
Dining Room $
Kitchen $
Bathroom $
Other $
total cost3 $
summary
Total cost for first month (1+2+3) $
Saunders Learning Group, LLC, Andover, KS

10. first time lease agreement
1. Parties/Premises:
This Lease is made this 27th of August, 2008, by and between Alice Chan (herein referred to as
“Landlord”) and Tim Baker (herein referred to as “Tenant”). Landlord hereby leases to Tenant certain
real property situated in the City of San Francisco, State of California, commonly known as 123 Main
Street and described as Two Bedroom Apartment (hereinafter called the “Premises”).
2. Term:
The term of this Lease shall be for one year commencing on September 1, 2008, and ending on
September 1, 2009.
3. Rent:
Tenant shall pay to Landlord as rent for the Premises the sum of $850.00 dollars per month, on the
first day of each month. Rent shall be payable without notice or demand at the address as the
Landlord may designate to Tenant in writing.
4. Utilities:
Tenant shall make all arrangements and pay for all gas, heat, light, power, telephone, and other
utility services supplied to the Premises and for all connection charges.
5. Hold Harmless:
Tenant shall hold Landlord harmless from and against any and all claims arising from Tenant’s use or
occupancy of the Premises. Except for Landlord’s willful or grossly negligent conduct, Tenant hereby
assumes all risk of damage to property or injury to persons in or about the Premises.
Saunders Learning Group, LLC, Andover, KS

11. a lease agreement (continued)
6. Default:
If Tenant shall default and breach any covenant or provision of the Lease, then
the Landlord, after giving the proper notice required by law, may re-enter the
Premises and remove any property and any and all persons therefrom.
7. Holding Over:
If Tenant, with the Landlord’s consent, remains in possession of the
Premises after expiration of this Lease, such possession shall be a tenancy
from month-to-month at a rental in the amount of the last month’s rent.
Tenant must notify Landlord in writing at least thirty days prior to
evacuating the Premises. All other provisions remain the same.
8. Waivers:
No waiver by Landlord of any provision hereof shall be deemed a waiver
of any other provision hereof.
Landlord by: Tenant by:
Alice Chan Tim Baker
signature signature
Saunders Learning Group, LLC, Andover, KS

12. rights and responsibilities of a tenant
Tenant’s rights:
 Withholding rent if the landlord doesn’t make repairs in reasonable amount of time.
 Safe and sanitary premises.
 No changes in terms and conditions for the length of the lease.
Tenant’s responsibilities:
 Paying rent on time.
 Using the rental for the purpose stated in the lease.
 Taking reasonable care of the property.
 Notifying the landlord if any major repairs are needed.
 Giving notice if leaving at the end of the lease.
 Giving notice if leaving before lease is up and paying rent for balance of lease
if landlord can’t find new tenants.
 Paying for any damage to the walls, floors, and furniture.
 Not making alterations that the landlord must fix later.
 Giving landlord a new set of keys if you change the locks.
 Paying all of rent if roommates move out and you stay
college – lesson 2 - slide 2-E
Saunders Learning Group, LLC, Andover, KS

13. rights and responsibilities of landlords
landlord’s rights:
 Charging extra if rent is late (amount specified in lease agreement).
 Keeping part or all of the security deposit if you leave before the lease is up
(as specified in the lease).
 Charging rent through the length of the lease even if you aren’t living on
the premises.
 Keeping all or part of security deposit if you damage walls, floors, or fixtures,
or if you make alterations that have to be fixed after you move out.
 Keeping all or part of the cleaning deposit if you don’t leave the premises clean when
you move out.
landlord’s responsibilities:
 Making repairs in a reasonable amount of time.
 Keeping premises safe and sanitary.
 Entering premises only at agreed-upon time to make repairs (unless there is an
emergency), or to show the apartment to potential renters if you are moving out.
 Paying interest on deposit money.
 Collecting rent.
 Maintaining exterior grounds of building.
college – lesson 2 - slide 2-F
Saunders Learning Group, LLC, Andover, KS

14. the art of
budgeting
Saunders Learning Group, LLC, Andover, KS

15. preparing a budget for the first time
phase 1: Assess your personal and financial situation
(needs, values, life situation).
phase 2: Set personal and financial goals.
phase 3: Create a budget for fixed and variable expenses
based on projected income.
phase 4: Monitor current spending (saving, investing)
patterns.
phase 5: Compare your budget to what you have actually
spent.
phase 6: Review financial progress and revise budgeted
amounts.
Saunders Learning Group, LLC, Andover, KS

16. goal-setting guidelines
well-written personal and financial goals SHOULD:
 be realistic
I you are working part-time is not likely to be able to afford a new car every couple of
years.
 be specific
“I want to save $5,000 for a down payment to buy a house.”
 have a timeframe
“I want to pay off my credit card within the next 18 months.”
 state the action to be taken
“I want to start an automatic deposit savings account with monthly withdrawals from my
checking account.”
Saunders Learning Group, LLC, Andover, KS

17. setting up and maintaining a budget
income budget actual difference
Job #1 $ $ $
Job #1 $ $ $
Other $ $ $
total monthly $ $ $
income
expenses budget actual difference
fixed regular expenses
Rent $ $ $
Car insurance $ $ $
Car payment $ $ $
Credit card $ $ $
fixed irregular expenses
Savings $ $ $
Food $ $ $
Utilities $ $ $
Saunders Learning Group, LLC, Andover, KS

18. setting up and maintaining a budget
(continued)
expenses budget actual difference
transportation
Bus fare $ $ $
Gas and oil $ $ $
Parking and tolls $ $ $
Repairs $ $ $
other
Medical expenses $ $ $
Clothing $ $ $
Entertainment $ $ $
Household items $ $ $
Personal items $ $ $
Tuition $ $ $
School expenses $ $ $
total monthly $ $ $
expenses
Saunders Learning Group, LLC, Andover, KS

19. Questions
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20. Post Workshop Action Plan
 Complete the Post Workshop Action Plan
Saunders Learning Group, LLC, Andover, KS 20

21. About the Presenter
 Floyd Saunders has worked on Wall Street
with both Bank of America and JPMorgan,
where is was a vice president in global
financial systems. He has worked across
the industry in retail, commercial, and
investment banking.
 He has taught courses in Money and
Banking, Principles of Banking, Managerial
Finance and extensively for the American
Institute of Banking and various colleges.
 As a consultant, he developed and taught
a wide range of banking and investing
courses.
 He authored three programs for the
American Bankers Association: Banking on
Mutual Funds and Annuities, Introduction to
Securities Markets and Investing in
Securities.
 He is the author of “Figuring Out Wall
Street, a consumer’s guide to financial
makets”
 Look for his next book, “Family Financial
Freedom” available as an e-book soon.
Saunders Learning Group, LLC, Andover, KS