Financial Crisis Management Counseling

Facing the challenges of reduced income  Loss of income spawns many challenges  Financial counselors can help  Human tragedies precipitate income loss  Loss of income causes loss of hope  Women bear the brunt

Rebuilding the strength to move forward  Recovery requires positive readjustment  Professional help is advised  Positive thoughts can produce positive action  Positive interaction helps rebuild emotional strength

Positive communication  Sincere interest  Compassion  Compliments  Challenges  Expectations  Words do motivate!!

Developing plans for financial recovery  Notify creditors  Sit down with members of household and list all expenses – determine which can be reduced or eliminated  Develop revised written budgets, control spending  Use new credit only for absolute necessities that cannot be delayed  Take steps to regain employment  Make use of community resources  Take care of yourself

Family Values, Traditions, Goals

Values & Traditions  What are family values?  What are family traditions?

Why set Goals?

Goals  Ends toward which effort is directed  Short term goals  Specific behaviors and outcomes to accomplish in a relatively short time  Long-term goals  Broad statements giving overall direction to one’s life

Rules MMMMake sure it is a goal that you want AAAA goal can not contradict any of the other goals DDDDevelop goals in the six areas of your life WWWWrite goals in a positive instead of a negative WWWWrite goals in complete detail SSSSet goals high enough WWWWrite them down

Now What?  Sharing you goals with others?  Review goals daily  For each decision, ask yourself  Does it take me close to, or further from my goal

6 areas to define goals  Family and home  Financial and career  Spiritual and ethical  Physical and health  Social and cultural  Mental and educational

Family and Home

Family Time  What do I want my kids to remember most from this year?  How can we spend meaningful time together?  Are there specific issues in sibling relationships on which I would like to work?  Is there a child or a parent who will need greater support from the rest of the family this year?

Children’s Development  What are my child’s greatest strengths?  What brings my child the greatest joy?  Who are my child’s closest friends, and how can I help nurture those relationships?  Who in my extended family is my child closest to, and how can I arrange time for them together?  What kind of growth and challenges can I anticipate for my child in the following areas: intellectual, athletic, personal, and social?  How does my child feel about his or her child-care situation or school, and what changes might be anticipated or needed?  What kinds of activities would be best for my child for this upcoming year?  How will my child spend next summer, and what do I most hope for in that experience?  In what areas, and at when times, do I think my child might need the greatest support?  How can each family member support this year of growth and development for each of us?

Partner  What goals do my partner and I share?  How can my partner and I ensure that we have special time together?  How can my partner and I share child-care duties ?

Extended Family and Close Family Friends  With which long-distance family members and friends do I want to keep in touch?  With which family members and friends do I want to plan get-togethers?  Which actions must I take to make a get-together or visit a reality?

Home Related Projects   What major project(s) do I hope to accomplish this year?   What kind of personal and financial resources will this project take to be successful?   When is the best time to start this project?   How long can I anticipate it will take to complete the project?   What responsibilities will family members have for this project, and how will it affect us as a group?

Financial and Career

Professional Goals  What do I hope to accomplish professionally this year?  How will meeting these goals affect my family?  Are there specific times during the next year that will be most demanding at work?  What kind of support will I need from family members in order to accomplish my professional goals?

Personal Goals  What do I, as an individual, want to accomplish this year?  How can I tailor these goals to be least disruptive to my family?  What kind of support do I need from family members to accomplish these goals?

Calendar Issues  What major events must I plan around, i.e. birthdays, holidays, school vacations?  What are this years’ school vacations, early release dates, and other school-related events?  What upcoming special family days and holiday commitments do I anticipate?  What are this year’s vacation plans, if any?

Family Resources  What major expenses do I anticipate this coming year?  What will our major sources of income be?  What are our saving goals and plan for saving?  How much money should be set aside for each of my children’s future education?  Who will assume responsibility for implementing this plan?  What must we do as a family to make this effort successful?

Spiritual and Ethical

 Do I want to start attending a church?  Do I want to be more active in religious practices?  Are there things I have been doing that I don’t feel quite right about and should I change that?

Physical and Health

Health  What athletic goals do I want to achieve?  Am I satisfied with my weight?  Do I eat healthy?  Am I satisfied with my eating habits?

Social and Cultural

 Do I want to make the world a better place by your existence? If so, how?  How do I want to enjoy yourself?

Mental and Educational

 Do I want to seek a degree?  Do I desire to learn more?  Do I challenge my brain on a daily basis?

How to start to achieve goals  Determine long-term and short-term goals  Start with the big picture (long-term goals) and develop short term goals to achieve long-term goals  Set a daily to-do list to work towards the lifetime goals.  Review your plan on a regular basis

Setting Goals Effectively  State each goal as a positive statement  Be precise  Set priorities  Write goals down  Keep operational goals small  Set performance goals, not outcome goals  Set realistic goals  Do not set goals too low

Achieving Goals  Once achieved, take time to enjoy it!  If it was significant, reward yourself  Learn from achieving this goal  Failure to reach a goal does not matter as long as you learn from it.

Developing plans for financial recovery