Money Management Through Transitions Can you survive a financial transition? Have you assessed your finances? Do you need to make changes to your budget?

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Presentation transcript:

Money Management Through Transitions Can you survive a financial transition? Have you assessed your finances? Do you need to make changes to your budget? What resources are available to you? PRESENTED BY GREENPATH Jane Doe Certified Consumer Credit Counselor

Types of Transitions Intentional Career change Retirement Divorce Family responsibilities

Types of Transitions Involuntary Reduced wages / overtime Layoff / loss of job Disability Death of a loved one

Assess Your Situation How long will this last?

Assess Your Situation Turn to page 3 in your workbook to complete the survey.

Assess Your Situation Net Worth Assets (What you OWN) Home Value$250,000 Life Insurance Cash Value$60,000 Vehicle$3000 Liabilities (What you OWE) Mortgage$150,000 Student Loans$45,000 Net Worth$118,000

Assess Your Situation Turn to page 4 in your workbook to calculate your net worth. Net Worth Assets (What you OWN) Home Value$100,000 Life Insurance Cash Value$60,000 Vehicle$3000 Liabilities (What you OWE) Mortgage$150,000 Student Loans$65,000 Net Worth$-52,000

Using Your Resources

Creating a Spending Plan Turn to page 7 of your workbook.

Overcoming a Deficit Write your answers on page 11 of your workbook. Can you think of ways to cut costs in your own budget?

Resources Visit for free budgeting worksheetswww.greenpath.com/university/resources

Dealing with Debt Prioritize your debt

Dealing with Debt Refinance or Loan Modification Debt Management Program Debt Consolidation Contacting Creditors on Your Own

Fair Debt Collection Practices Act Which debt collection practices do you think are illegal?

Fair Debt Collection Practices Act

Questions?

GET IN TOUCH CONTACT US We’d love to chat more! GreenPath is a not for profit consumer credit counseling agency and HUD approved housing counseling agency with offices around the country. f f t t facebook.com/greenpathdebt twitter.com/greenpathdebt

THANK YOU Jane Doe Certified Consumer Credit Counselor