1. Using Credit Wisely: Identifying Issues & Setting Limits Prepared by: Sissy R Osteen, Ph.D., CFP ®

2. If you Answered Yes to: 1-2 questions: You may be developing financial problems. 3-5 questions: You are on the edge of Financial disaster. 5-10 questions: You are in over your head.

3. Your Financial Situation Income Expenses Debt

4. Determining Income Income SourceWeeklyBi-WeeklyMonthYearly Total Salary Tips Soc. Sec. Retirement Child Support TANF Student Loans Tax Refunds Other

5. Determining Expenses Housing Food Clothing Transportation Childcare Medical School Expenses Entertainment Personal Items Reserve Savings* Miscellaneous

6. Occasional Expenses Past 12 Months Home Repairs$ School Expenses Car Maintenance Car Insurance Medical Expenses Clothing Gifts Vacations Property Taxes Total$

7. Reserve Account Having some means Financial Freedom Having none means Catching Up and More Debt

8. Defining Your Deb t LenderMonthly Payment Balance Car Loan Credit Cards Bills Loans

9. Is there a Debt Problem? Income minus Expenses = Amount Available for Paying Debts. - =

10. Sometimes looks like thi s - = - = Or this

11. Debt/Income Ratio Monthly Debt Monthly Income

12. Debt/Income Ratio 15% or Less Usually Not a Problem 15-20% Plan Carefully 20-35% Cut Back! Over 35% Seek Help!

13. What To Do If You Need Help Stop using your credit cards. If you have money, contact your creditors and ask for lowered payments. If you have been threatened with legal action, contact a lawyer.

14. Questions