Meeting Financial Responsibilities Getting Your Needs Met by Not Putting All Your Eggs Into One Basket http://www.dreams-goals.com/Wkshp-Financial.html Presented by: Kathleen E. High, M.Ed., CCSP, GCDF-I Independent Education/Career Consultant Your Dreams & Goals Presented to: Clients of: Orange County One-Stop Center

Overview This workshop will give participants helpful and practical information designed to help them identify the attitudes and expectations that allow them to find creative solutions to addressing their financial needs. It will also help them explore many options for generating income, lowering financial responsibilities, reducing expenses, and identifying resources for coping with seasons of financial emergency, such as a loss of income. 

Disclaimer: The author claims no special training in financial planning, nor does she want the readers to expect such expertise from her. Her expertise for this subject comes from personal experience of responding to a lay-off by returning to school to make a mid-life career change while having no financial reserves on which to depend. Her experience also includes her professional experience working with students and other adults living through similar circumstances.

Learning Outcomes: Participants will: Understand how expectations affect their ability to think creatively. Develop options available for establishing a source of income. Gain tips for lowering financial responsibilities. Gain strategies and tips for reducing expenses. Identify solutions for handling seasons of financial emergencies. 

Understanding How to Meet Your Financial Responsibilities Change Your Expectations Establish a Source of Income Lower Your Financial Responsibilities Strategies and Tips for Reducing Expenses Solutions for Emergency Situations

Change Your Expectations This Approach Is Time and Energy Consuming Everyone’s Situation Is Different More Than One Way To Meet Your Needs Know Your Priorities Live within Your Means – Even If Your Means Have Dropped Change Your Lifestyle Distinguish the Difference between “Needs” and “Wants” Adopt a Collectivistic Mindset For A Season and For A Reason

“Needs” vs. “Wants”

Reflection: Changing Your Perspective Take a few minutes to reflect on the following questions: What have you learned that was new to you? How can you apply it to your life? Are there any expectations you should consider revising?

Establish a Source of Income Ongoing Sources of Income Employment You and/or Your Spouse Part-Time Temporary Rental Income

Financial Aid For Students Two Types: Need-based Merit-based Types of Aid Grants Fee Waivers Scholarships Work Study Loans School-Sponsored Special Discount Programs

Other Financial Assistance Programs Unemployment Severance Packages Disability Veteran’s Benefits Employer-Sponsored Tuition Reimbursement Programs Retirement

Short-Term Sources of Income Your hobbies/Interests Selling Assets Online/Yard/Garage Sales Selling Back Textbooks Buyer’s Remorse

Reflection: Establish a Source of Income Take a few minutes to reflect on the following questions: What are your current sources of income? Which new ideas are feasible for you to consider as possible sources of income?

Lower Your Financial Responsibilities Fixed Expenses Variable Expenses Required/Optional Expenses Debt Management Consultants Refinance Loans Downsize

Reflection: Lowering Your Financial Responsibilities Take a few minutes to reflect on the following questions: What have you learned that was new to you? How can you apply it to your life? What monthly expenses can you reduce?

Strategies and Tips For Reducing Expenses Shop Around Coupon Shopping Buy Less Expensive Versions Buy Used Instead Of New Trade/Barter Carpool and/or Use Public Transportation

Strategies and Tips For Reducing Expenses (Cont’d) Student Support Services Resources For Small Businesses And Non-profit Businesses Adopt An Environmentalist Perspective Reduce Reuse Recycle When Things Need To Be Replaced Hire Students Entertainment Do It Yourself

Reflection: Strategies and Tips For Reducing Expenses Take a few minutes to reflect on the following questions: What have you learned that was new to you? What options can you realistically consider to help you reduce your expenses?

Solutions For Emergency Situations Utilize Multiple Resources Identify Support Systems Bankruptcy Emergency Social Services Lending Institutions Living on Credit Cards

Reflection: Solutions for Emergency Situations Take a few minutes to reflect on the following questions: Who/What Is Your Support System? What resources should you consider as solutions for emergency situations?

Conclusion/Summary Meeting Financial Responsibilities involves five things: Change Your Expectations Establish a Source of Income Lower Your Financial Responsibilities Strategies and Tips for Reducing Expenses Solutions for Emergency Situations

Final Reflection: Now that you have completed this workshop, take the time to reflect on your response to what you learned. Set some goals for how you can apply these concepts to your life.