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Money Mondays

Posted by on Wednesday, January 13, 2021 in workshop.

Join us the second Monday of each month for this Spring 2021 finance series with Emily Roberts, PhD.

Demystifying Taxes*

Monday, February 8th
4:00 – 5:30 pm
via Zoom

Preparing a tax return can be daunting for a trainee, especially when fellowships and scholarships are involved, and it’s difficult to find resources that address this special situation. This presentation introduces how ordinary income is taxed and addresses how to calculate and report trainee income specifically. Topic covered:

  • Federal income tax basics (deductions, credits, progressive tax brackets)
  • Tax preparation methods
  • Finding and categorizing your income
  • Applying education tax benefits
  • Where to report your higher education income and expenses
  • Quarterly estimated tax for fellows
  • Tax repercussions of awarded income

*Interested attendees will also have access to Dr. Roberts pre- recorded webinar: Quarterly Estimated Tax for Fellowship Recipients 

Hack your Budget

Monday, March 8th
4:00 – 5:30 pm
via zoom

When it comes to balancing their budgets, grad students and postdocs usually try to pack as much value into as little spending as possible. This practical workshop shows attendees how to “hack” their budgets by decreasing their spending in key necessary areas and implementing strategies to make their budgets more effective. Attendees submit their spending data on housing and utilities, transportation, and food in advance through a survey. The workshop will open with a presentation and discussion of this crowdsourced data, during which attendees share with one another their strategies and insights. This will be followed by a presentation of effective budgeting strategies to speed progress toward financial goals

  • Budgeting/tracking software
  • Pay yourself first
  • Automation
  • Balanced Money Formula
  • Targeted savings
  • Zero-spend mindset

Setting yourself up for Financial Success
in your PhD program, Postdoc, or Post-PhD Job

Monday, April 12th
4:00 – 5:30 pm
via zoom

This seminar is designed for PhD trainees at the undergraduate, graduate, and postdoctoral levels who plan to graduate and/or take another job in the next year. Topics covered include:

  • What is financial success?
  • Overall plan for career transitions
  • Frameworks: Prioritization within budget plans, Goals pyramid, Balanced Money Formula
  • How to be successful with respect to: Taxes, investing, debt repayment, cash savings, Living within your means, Budgeting, and Moving

Sponsored by the Russell G. Hamilton Graduate Leadership Institute