The Steps:
  

Family

  

Government & Community

  

Education & Skills

  

Employment

  

Management

  

Credit

  
 
 
 
 
 
 


Management
Section I / Section II / Section III / Section IV / Section V / Section VI

Don't write a bad check with "non-sufficient funds." It can lead to a $40 fee for a $15 check, your name published, a requirement to go to bad check school, and criminal conviction. If you continue to write bad checks, you can be prosecuted. Hint: write the check amount in register before writing the check. Balance the checkbook as you go. Reconcile your bank statement for mistakes against your record.

Manage and control your use of Automated Teller Machines. Note transaction fees and withdrawal amounts in a small notebook (or with your checkbook register) in which you keep the statements. This tracking system applies to cash withdrawals from checking, savings or credit. Keep ATM receipts and record in checkbook register or notebook.

Get more ideas from several web sites such as http://www.collegeboard.com. Get "The College Student's Guide to Financial Survival" by calling 804-763-4100.

Communicate effectively with businesses, creditors, family members, professionals, etc. about resolving financial or consumer affairs problems. Don't delay. Contact them before a crisis leads to larger problems or "festers like a sore destroying you inwardly." In writing or fax, inform creditors of the repayment plan that you can afford. Follow up in writing with the details. When in financial trouble or crisis, contact:

A financial counselor

A non-profit credit counseling service

Housing Counselor

A trusted and knowledgeable advisor

If you have a consumer problem, complain effectively and uphold your rights. Contact the consumer affairs office or the state attorney general. Collect your documents or receipts. State what would be a satisfactory solution to the problem. First start with the initial contact and then seek higher authority. Call 1-800-688-9889 for the Consumer Resource Handbook. It has information on how to complain effectively and to whom for specific products and services for the various states. It can be viewed and ordered on the FCIC website: http://www.pueblo.gsa.gov

Cash Flow Analysis Chart (right-click to save to disk) - This table will help you to efficiently allocate your finances and to assist in your budgeting

Categories for Estimating or Recording Expenses Sheet (right-click to save to disk) - Another table with a generalized list of categories under which you can list your expenses

Form for Planning and Evaluating (right-click to save to disk) - Another table which will assist you in budgeting also.

Strategy 4 - Manage Shopping

  • Recognize that advertising appeals to your basic needs and makes you feel inadequate. Ask questions to resist sales pressure.

  • Resist peer pressure and pressure to conform by being true to yourself.

  • Deprogram yourself by questioning what others define as the good life and what is ideal or adequate. Realize advertising competes for your money. Businesses want your money, not your friendship. Ask if you think they are interested in you, or if they have a vested interest only for themselves. Beware of the wolves in all types of businesses.

  • Limit spending for a specific category rather than cut out all spending entirely. Limit eating out for entertainment; enjoy something that is free such as free concerts in the community and videos from the library.

  • Understand everything before you sign on the dotted line. Read what you are signing. Have both parties' initial changes.

Do comparison-shopping when buying products and services. Compare financing arrangements. Compare at least three different brands, stores, services, or arrangements. This educates you, saves money, and reduces harmful impulsive spending.

Compare using credit with using cash. To find cost of using credit, multiply:

Monthly Payment x Number of Months for Repayment = Total Cost and Fees; Total Cost and Fees minus Cash Price = Cost of Credit

 

 

Family - Government & Community - Education & Skills - Employment - Management - Credit - Housing, Vehicles & Equipment - Insurance - Savings - Investment - Financial Planning
Ability to Adjust

About This Book - About The Author - Purchasing Information - Associated Links
Contributors