Credit and Budgeting Tips

Have you recently lost your job? Need help creating and maintaining a budget? Are you concerned about your credit in today's rapidly changing markets? Where do you start? Do you need an action plan?
Developing a budget and managing your credit are even more important today than ever before. Be sure to check your credit report at least once a year. For a free yearly report go to www.annualcreditreport.com.
"Money is one of the most important subjects of your entire life. Some of life's greatest enjoyments and most of life's greatest disappointments stem from your decisions about money. Whether you experience great peace of mind or constant anxiety will depend on getting your finances under control." Robert G. Allen
Listed below are some steps to help you get started.
Evaluate your spending habits
It's easy to spend money on things you don't really need. Now is the time to decide what is necessary and what you can do without. It's best to have a plan and discuss it with your family members so everyone can contribute to jumpstarting your action plan.
List your fixed monthly expenses
Housing Utilities - telephones, electricity, gas, water,
and garbage Food Transportation - car payments, public
transportation, gasoline, car maintenance, and repair Other Basic Expenses - including child care, child support, insurance, clothing, gifts, vacations, and pet care

List your sources of income
Unemployment insurance Savings Checking account Any additional income
Consider sources of additional income or savings
Work part-time while you look for full- time work
Work part-time while you attend school to update your skills
Have a yard sale Collect old debts Swap services - babysitting, yard
maintenance, computer skills, doing taxes, music, or dance lessons Clip coupons Car pooling - grocery store shopping, after school activities, sporting events
Have
Questions?
Georgia Department of Labor Career Centers are available to assist you with job leads and free access to Internet, copier, phone, and fax.
Locate an office near you at dol.georgia.gov.

Credit & Budgeting Tips

Creditor Action Plan
Create An Action Plan To Include All Of Your Creditors

Name of Creditor

Account # Balance Owed

Minimum Monthly Payment

Due Date

debt reduction by telephone, inperson, or via the internet in English and Spanish. Users enter their zip code, and enter a distance radius, to locate member agencies. The search engine allows you to choose a nearby credit counseling service to contact for assistance. A search by state produces a list of all credit counseling
agencies in the state of Georgia.

Having trouble making your minimum payments?
Contact your creditors immediately Ask for a payment arrangement plan Call and write to explain your situation
(send correspondence by certified mail and request a return receipt) Don't promise more than you can reasonably afford to pay Don't ignore bills and past due notices
If your expenses are greater than your income, some spending changes need to be made. Only you can decide where to cut your expenses, but you might want to get some professional advice. Where do you go from here? Check out these additional resources:
For local help, just enter your zip code at the following web sites: United Way http://211.org or the Salvation Army http:// salvationarmyusa.org.
National Foundation for Credit Counseling (NFCC) www.nfcc.org
From the NFCC web site located at www.nfcc.org users can receive practical individualized plans for

Money Smart www.fdic.gov
Money Smart is a friendly and easy to use learning tool that teaches the 10 modules of the Money Smart curriculum. The modules include advice on opening a checking or savings account, managing credit cards, setting up budgets, improving your credit history and more. Each module generally takes between 20-30 minutes to complete. Users receive ongoing feedback and, upon successful completion of each module, can print out a personalized certificate of completion. An online version is also available at www.fdic.gov in English and Spanish.
Money Management International
(MMI) - Non-Profit Credit
Counseling and Education
www.moneymanagement.org.
Whether you are facing an immediate crisis or just want to learn how to improve your financial health, MMI can help! Go to www. moneymanagement.org for information on financial solutions. Email or call their representatives for answers to additional questions.

Visit our website at dol.georgia.gov
Equal Opportunity Employer/Program l Auxiliary Aids & Services are Available Upon Request to Individuals with Disabilities
DOL-4456 (R-1/21)