taking control of your cash - eliminating debt. happiness is… making informed financial decisions...

Taking Control of Your Cash -

Eliminating Debt

2

Happiness Is… Making Informed Financial Decisions

Although money may

not be able to buy

happiness, it is an

important part of life.

Society for Financial Awareness

3

Wants vs. Needs

Wants

Needs


4

We Buy Because of Emotion, Not Logic!

From a psychological standpoint:

We purchase an item we mistakenly believe will make us

happy.

The item loses its value to us over time.

We look for the next item to make us happy, and then another,

and so on.


5

Changing Your Perspective

Your self-worth has

nothing to do with

your net-worth.

Money does not

make the person - it

is who they are on

the inside that

defines their lives.


6

You Shouldn’t Live in Fear of Your Finances

Your financial dealings are serious; however, you are in control, even if it

doesn’t always feel like it.

You can control your savings, expenses, and even your earnings; however, you

have to adopt the mindset to do so.

As you begin to build up your feelings of self-worth and develop a positive

attitude about yourself and about money, you'll be able to function positively

and effectively.

There is no point in waiting for your situation to improve before you tackle

your money issues.


7

What Makes You Happy?

It’s often been said that

the best things in life

are free, and it’s true.

Unfortunately, some

people convince

themselves that they

don’t deserve

happiness and accept

their circumstances far

too easily.


8

You Have to be Willing to Sacrifice to Achieve Goals

There are no secrets

to success. It is the

result of preparation,

hard work, and

learning from failure.

Colin Powell


9

Take Control of your Circumstances

Before setting out to achieve a goal, look how others have achieved something

similar and find out how they did it.

Find someone who's on the path you want to pursue and have a conversation

with them.

Following a well-defined path often makes it easier to bring about change. In

doing so, you create accountability.

You need to be able to walk before you can run, and taking small steps if you’re

contemplating significant changes can dramatically improve your chances for

success.


10

Developing Your Plan

Evaluating the current situation: “Initial Spending Assessment”

Identifying “wants” and “needs”

Discussing options and adjusting spending accordingly

Tracking spending - Creating a Comprehensive Budget

Establishing and implementing short- and long-term goals

Reviewing and modifying your plan when necessary


11


Building an Emergency Fund

Plan for life’s unexpected emergencies by setting up an Emergency Savings fund.

Set aside at least 3-6 months worth of expenses to help cope with life's emergencies.

Emergencies can happen to anyone, anytime! Seek conservative savings vehicles that keep pace with inflation.

12

Become a “Financial Guru”

There are thousands of

not-for-profit agencies that

offer the public free

financial analysis.

Speaking with a certified

credit counselor will help

you establish an initial

game plan, as well as

identify the information

you need to know for your

financial situation.


13

Credit Card Debt

One of the biggest

problems credit

counselors see regularly

is uncomfortably high

credit card debt, which

can really devastate a

family’s budget.18% Interest 29.99% Interest

$24,000

$34,000$14,000 Credit Card Balance



14

Getting Out of Debt

Debt Snowball Method

Modified Snowball Method

Credit Counseling

15

Life on a Debt Management Program

Bills which can be included in a Debt Management Program include Credit Cards, Personal Loans (unsecured), Personal loans secured by household items, Past-due balances on telephone bills, cellular phone bills, electric bills, etc., Collection Accounts, Lines of Credit, Disconnected Utilities, Medical Bills, and Repossessions (unpaid remaining balances).

Debt Management Program participants typically enjoy: One Convenient Monthly Payment Lower Monthly Payments Reduced Interest Rates Elimination of Late and/or Over Limit Fees Ongoing Education Access to Nationally Certified Credit Counselors Full Support of Our Customer Care Associates


Thank you for your time!Please complete your program

evaluation.We are happy to answer any questions you

may have now or in the future!

taking control of your cash - eliminating debt. happiness is… making informed financial decisions...

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