myCSUSM
May Focuses on Financial Literacy
Financial Literacy Month is both a celebration and a challenge, and this year it could not have come at a more difficult time. With economic activity at a near halt and parts of the country still in lockdown, it is important now more than ever to evaluate your personal finances and readjust if needed. Below are some suggested tips to help identify your money weaknesses and turn them into strengths.
- Commit to Change. Examine your attitude about money and develop a financial plan that aligns your attitude with your goals. Do you believe you can change the way you make financial decisions? Can you identify at least one benefit you hope to gain by changing your money management?
- Assess Your Finances. What are your strengths and in what areas do you believe you can improve? Listing all of your monthly obligations and incomes will help determine if there are any gaps and if so, what could potentially be eliminated to decrease those gaps.
- Set SMART Financial Goals. SMART goals are Specific, Measurable, Achievable, Rewarding, and Trackable. Identify something you would like to change, develop a path to achieve, and assess and readjust your progress along the way.
- Expect the Unexpected. We can all relate to today's climate and testify that unforseen events can cause a disruption in our daily lives, especially financially. A good rule of thumb is to have six months of living expenses saved for emergencies.
Other helpful resources:
**Did you miss the Live Food Demonstration "Creative Ways to Use Pantry Staples"? View the presentation and download the Kitchen Essentials e-Book!
Events & Activities
Coronavirus, Stock Market Uncertainty, and How to Handle It
Here's what we know: what goes up, will come down. This 6-minute read by Chris Hogan, discusses the current stock market disruption and simple tips to protect your financial investments.
CalHR - Enrolling in Savings Plus
An opportunity to learn what you need to know about the state employee's 401(k) and 457 plans.
WHEN: 5/8, 5/13, 5/18, and 5/26 from 12:00 - 1:00 pm
ENROLL: CalHR website, scroll to Enrolling in Savings Plus
Virtual Fidelity Consultations
Confidential consultations are a complimentary service provided to you as an employee of the CSU, and your Fidelity Retirement Planner continues to be available over the phono or with virtual consultations. Schedule your appointment to discuss any concerns and how that plays into your retirement goals.
WHEN: Tuesday, May 12 from 8:30 - 3:30 pm
ENROLL: Fidelity website
CalPERS - Early Career Basics
The earlier you develop an understanding of your benefits, the more prepared you will be to make sound decisions. Attend our CalPERS Members - Early Career Basics webinar where you will learn about your benefits, the different sources of retirement income, and the tools and resources available to you as you move through your career.
WHEN: 5/13, from 10:30 - 11:30 am
ENROLL: CalPERS website
ScholarShare 529 Savings Plan
Learn about saving for college with the ScholarShare 529 College Savings Plan. This webinar will provide insight on the benefits and costs of higher education, ways to save, options available, as well as an opportunity for questions.
WHEN: 5/13, from 11:00 - 12:00 pm
ENROLL: ScholarShare website
Social Security - The Choice of a Lifetime
Your choice on when to file for Social Security could increase your annual benefit by as much as 76%. That is why it is the choice of a lifetime. Learn key filing rules and strategies so you can make the choice that fits with your overall retirement income plan.
WHEN: 5/14 and 5/20, from 12:00 - 1:00 pm
ENROLL: CalHR website, scroll to Social Security