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Financial Help, Hope, Education, and Empowerment How CCCS can serve your schools, students, and families Todd Mark, CCCS of Greater Dallas * Approved to.

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Presentation on theme: "Financial Help, Hope, Education, and Empowerment How CCCS can serve your schools, students, and families Todd Mark, CCCS of Greater Dallas * Approved to."— Presentation transcript:

1 Financial Help, Hope, Education, and Empowerment How CCCS can serve your schools, students, and families Todd Mark, CCCS of Greater Dallas * Approved to issue certificates in compliance with the Bankruptcy Code. Approvaldoes not endorse or assure the quality of an agency's services. * Approved to issue certificates in compliance with the Bankruptcy Code. Approvaldoes not endorse or assure the quality of an agency's services.

2 Hi, I am Todd, your host! Let’s just say I was a bit thinner when I was on CNN!

3 “I enrolled in CCCS because I simply ran out of options” - Anjelica B. “He became hooked on credit cards” - Harlan Q. “We were on the verge of filing bankruptcy” - William C. “ I am a veteran, unemployed, living off my retirement check and savings intended for retirement” - Beverly T. “ I was self-employed and didn’t have steady work” -Jeremiah P. “I was never educated on the pitfalls of using credit” - Carrie V. “My husband lost his job. I was caretaker of my brother” - Linda M.

4 Our Mission –A financial emergency room –Prevent and resolve crisis –Provide help and hope –Peace of mind and action plan A counseling and educational organization A consumer advocate Founded in 1974 Certified counselors by the NFCC C ontrol C risis C onfidence S uccess

5 What do we do? Budget and credit counseling Housing counseling Financial education Debt management plans Bankruptcy counseling

6 NFCC agencies across the country CCCS 106 CCCS agencies More than 1000 offices

7 What are we seeing? Unemployment, cut-back in hours Mortgage delinquency Greater severity in debt levels and overall financial crisis Supporting other family members Traditional causes

8 What is the Age of Acquisition? * Approved to issue certificates in compliance with the Bankruptcy Code. Approvaldoes not endorse or assure the quality of an agency's services. * Approved to issue certificates in compliance with the Bankruptcy Code. Approvaldoes not endorse or assure the quality of an agency's services. Differentiate wants from needs: Place to live – with furnishings and everything else to fill it Everything else provided and/or paid for by parents or school Car to drive Professional wardrobe Possibly a family A taste for saving and spending

9 Needs of college students Establishing credit First-time costs living on own Individual shopping decisions Creating a consumer savvy Basics: room/board, tuition, books, activities, etc.

10 The rite of passage: Credit

11 Changing urgencies for students Mom and Dad didn’t come through Financial aid funding gap Job market meant no/less student income Costs of college Back-to-school for jobless

12 What’s hurting Mom and Dad? 1.Unemployment/underemployment 2.Mortgage delinquency 3.Investments crushed 4.Property values devastated 5.Savings gone 6.Helping other family members in crisis 7.Other traditional: death, medical, divorce, natural disaster

13 What happens in counseling Reasons for crisis Income Budget Debts Action plan Always caring, compassionate, non-judgmental listener

14 …or in consumer education College credit 101 Basic budgeting Setting financial goals (savings, debt) Banking skills Age of Acquisition CCCS.net/webinars

15 Where does your money go? Observe what items you are spending now. Track your expenses for 30 days

16 Create a spending plan How can you balance your income and your expenses? Identify your monthly income and write it down. Write all your monthly expenses and prioritize them. Subtract spending from income. If your expenses are more than your income, review your expenses and make adjustments so your income equals your expenses.

17 Monthly Spending Plan Worksheet Monthly Expenses Amounts Expenses continued Mortgage / Rent $ Laundry/dry cleaning 2 nd mortgage, equity loans $ Beauty/barber shop $ Home maintenance/lawn/security $ Car payments $ books, arts, toys and hobbies Car insurance Gasoline, oil changes $ Parking, tolls, repairs $ Electricity $ Entertainment: DVD/CD/games Water/garbage/sewer Natural gas $ $ Phones – both home and cell $ Cable/Satellite $ Total Net Income: Less Total Expenses: BALANCE: TOTAL EXPENSES: Groceries/household/toiletries INCOME Food – eating out $ Monthly Net Insurance – medical, life $Your monthly take-home pay $ Medical co-pays and prescriptions $ Spouse/other monthly income $ Child support/alimony $ Other monthly income $ Savings/financial goals $ Credit/debt payments $ Education TOTAL NET INCOME: $ $ $ $ Contributions (religious, charity) $ Child care/elder care $ $ $ Internet/DSL $Cable/Satellite $ $ $ $ Clothes Personal – tobacco, alcohol, etc Recreation: sports, concerts Clubs or memberships $ $ $ $ Amounts Gifts, donations Pets, allowance, miscellaneous Other Total all expenses from both columns at bottom left.

18 Understanding liabilities

19 Planning to meet your goals List your creditors and the amounts you are currently paying Prioritize bills, then use the “ladder system” Make a plan to payoff your debts

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22 Walk through resource spend-down Emergency savings Home equity Retirement Credit cards Other assets Family, local resources

23 “Credit scores — why do I care?” What does your credit score impact? Mortgage Car loan Credit card or personal loans Insurance Employment

24 What’s in a credit report? Identifying information Account summary Inquiries Public records

25 What a FICO score considers

26 Ten basic rules of money management 1.Plan 2.Set financial goals 3.Assess your financial situation 4.Develop a realistic spending plan 5.Don’t allow expenses to exceed income

27 Ten basic rules of money management 6.Save 7.Pay your bills on time 8.Determine the difference between wants and needs 9.Use credit wisely 10.Keep a record of daily expenditures

28 Questions and answers

29 Thank you for attending how CCCS can help your school and students! For more information visit our website, To set up a counseling appointment at one of our 10 Dallas locations or 22 Texas locations, or for telephone counseling, call our main number: CCCS (2227) For free, in-depth financial education classes, see the full webinar schedule at or call Todd Mark:


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