This logo is not suitable for branding. If you would like to use our logo, please contact Marketing.
Close
Please read and agree at the bottom of the document.
I Agree Cancel

Personal Finance Management

BEN U SKILLS Personal Financial Management
Your Personal Financial Management Starts Here

Welcome to our new program for Personal Financial Management. Based on your goals and priorities, you can create a plan that can help you be better equipped to secure your financial future.

 

The material is self-directed, which means that you can start at the beginning and work through the content at your own pace or just review the subjects that interest you most.

 

Whether you want to create a budget, pay off debt, save for a down payment, or plan for retirement, now, you can learn the skills needed to achieve your financial goals today…and in the future.

MANAGE YOUR MONEY
SPENDING AND BUDGETING
FINANCING EDUCATION
SAVING & INVESTING @ KP

My Money Five

The federal government’s “My Money Five” is a great place to start. You’ll find clear explanations of the what you need to know and understand to make important money management plans and decisions.

Earn

Make the most of what you earn by

understanding your pay and benefits.

Time: 45-minutes

Math Level: Beginner

» Go

Save & Invest

It’s never too early to start saving

for future goals.

Time: 1-hour

Math Level: Basic

» Go

Protect

Take precautions to protect

your finances.

Time: 45-minutes

Math Level: Beginner

» Go

Spend

Shop smart and compare

prices and products.

Time: 1-hour

Math Level: Basic

» Go

Borrow

It happens. How to use debt wisely.

Time: 1-hour

Math Level: Beginner to Basic

» Go

The basics: What You
Need to Know?

Sal Kahn of Kahn Academy

gives a brief introduction to

managing your finances.

Worth the stop.

Time: 5 minutes

Math Level: Beginner

» Go

TIP: Content that our site links to will have a TIME entry which is an estimate of the amount of time you might spend there.

Setting and meeting your own financial Goals

 

You already know how to spend. Here are a few tools to help you manage spending, plan your saving and track your progress.

 

How much money do you really have to spend? By looking at your bi-weekly pay, you can track a month or two of your spending to see where it is going. That will give you the ability to take charge of your financial direction. This useful budget tracker can help you get started!

Your Net Worth

Net worth is defined as assets minus liabilities. It is a measure of what an entity is worth. For a company, net worth is the value of the company. For a household, it represents the assets you own, less any debt you have.

 

Think of your family as an economic entity when you are working out your finances. Calculating your net worth on a regular basis, perhaps annually, is a good way to see how much financial progress you are making. Use this tool to get started.

 

NET WORTH CALCULATOR
How to use: Enter each "Item" amount (if applicable) underneath the "Value" column by clicking in field.
ASSETS
DEBTS
MY PERSONAL NET WORTH
CATEGORY
ITEM
VALUE
Real Estate
Home
Real Estate
Other
Investments
KP Retirement Accounts
Investments
Former Employer Retirements Accounts
Investments
IRAs
Investments
Stocks | Bonds | Mutual Funds | CDs
Investments
Face Value of Life Insurance Policy
Investments
Other
Cash
Checking Accounts
Cash
Savings Accounts
Personal Property
Cars
CATEGORY
VALUE
Mortgages
Home Equity Loans
Car Loans
Personal Loans
Credit Cards
Student Loans
Loans Against Investments
Life Insurance Loans
Other Installment Loans
Personal Net Worth
Total Assets
$0
Total Debts
$0
Net Worth
$0

Ready For Some Good News?

People who begin tracking their spending sooner tend to spend less, and what they spend their money on is more valuable to them.

 

Let’s be honest…saving is never easy, but those who develop a habit of saving, save more and have an easier time doing it.

 

Go to the fourth tab above Saving & Investing at KP to see how you can use company programs to build wealth and security.

Did You Know?

Most banks have apps that track your spending. Or choose one from your app store by typing "budgeting and money management" in the search function.

There's A Book For That!

The Index Card takes a simple, easy-to understand approach on important financial issues.

Money for Emergencies

It is always difficult to set aside money for emergencies, so here's an idea. You are paid every two-weeks. This gives you two paychecks a month (24) with an extra 2 paychecks for 26 per year. Set aside the two 'extra' paychecks and watch your money grow!

Getting smart about getting smarter

 

Here are some ways you can prepare for your family’s education as well as financing your own.

Financing YOUR FAMILY’S Education

There is a way to set aside money for your family’s education that is tax-advantaged. You make contributions on an after-tax basis, but distributions are not taxed provided they are used for educational purposes. Some states also provide tax benefits when you make contributions. You can contact your financial institution to see what they offer or contact Vanguard for further information:

 

.
Vanguard Education Savings Group
866-734-4533
(8 am to 9 pm, EST) or access the content on
https://investor.vanguard.com/529-plan/ 

Financing YOUR Education

Here’s the good news (Finally)! You are likely eligible for KP Tuition Reimbursement (TR)
Learn More »

 

Here is the even better news! BHMT-eligible employees of KP enjoy a wide variety of education benefits. Most of these programs are fully supported by the trust. One of the most popular benefits available to fiance your education is the Tuition Assistance Program (TAP).

 

You can use your KP Tuition Reimbursement (TR) benefit to cover non-travel related KP TR eligible expenses. If you are approved to participate in TAP, BHMT will pay any approved KP TR Applications (except travel) that you submit through KP’s TR system.

 

.
Payments are made directly to your academic provider on your behalf, or
.
Directly to you at the time proof of payment is submitted vs. after course completion

 

For more information: https://bhmt.org/tap/

529 Plans: What You
Need to Know?

Vanguard Academy answers most common questions about 529 plans.
Time: 1.52 minutes
» Go

There is no place like home

 

KP has some great benefits. Are you taking advantage of them?

 

KP Pension Plan. Investments are handled by KP, no contribution is required, your major decision will be at the time of your retirement whether to take a lump sum or annuity. The decision as to whether you take a lump sum distribution or an annuity is best left until you retire. Use the KP Connection at right to access your pension benefit information.

.
Select Retirement Benefits
.
Select Pension – Understand This Company-Paid Benefit

 

KP Savings Plans are managed by Vanguard. You can contribute directly through payroll deduction and decide where your money is invested. Your eligibility and plan options are available through KP Connection.

.
Select Retirement Benefits
.
Select Retirements Savings – Understand This Company-Paid Benefit

 

You can also contact them by phone at 1-800-523-1188 to get started.

.
Retirement Benefits at a Glance
.
Retirement Glossary
.
Vanguard Decision Tools
.
Financial Wellness Video Series
Requirements
ELIGIBILITY
COMPUTER

  • Everyone is eligible.

  • None