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www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session. ... budget considers all sources of income, living expenses,.
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Tips to Achieve & Maintain Financial Wellness

How You Treat Your Money Can Give you Financial Wellness. The certified and experienced financial and housing counselors of Consumer Credit Counseling Service offer you the following ‘tried and true’ tips to get you started on the path to Financial Wellness. For more information, visit our website: www.graceworks.org/cccs or contact us at 800-377-2432 to schedule an appointment for a counseling session.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

1 Track your expenses. To find money available for savings, first determine where you are currently spending your money. Track and write down every cent of money you spend for a month. Then look at where your hard-earned cash really goes. Now it’s time to get on the path to Financial Wellness.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

2 Create a Budget. Budget is not a four-letter word. A well-designed spending plan puts you in control of your money. You know exactly where it will go rather than wondering where it went. Your budget considers all sources of income, living expenses, debt obligations and savings. Remember the three expense categories: fixed expenses (e.g., mortgage, auto loans and rent), variable expenses (e.g., credit cards, groceries, entertainment, clothes and gasoline) and periodic expenses (e.g., property taxes, insurance premiums, home repair and car maintenance). Use the budget worksheets from the National Foundation for Credit Counseling (NFCC) to help identify your expenses. Take the time to build your budget to reach your goals. http://www.nfcc.org/FinancialEducation/monthlyincome.cfm

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

3 Pay Yourself First. Sign up with your employer for automatic payroll deduction into a personal savings account at a credit union or bank. You can’t spend money you don’t have, so set aside your allotted savings right off the top.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

4 Save 1000 for Emergency Fund $

Use the Emergency Fund to pay cash for unexpected expenses such as car repair, appliance replacement, etc. instead of charging on your credit card. After you pay down your credit card debt, go back to your Emergency Fund and keep saving to build up 3 to 6 months of living costs. Always keep $1,000 for emergencies.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

5 Pay down credit card debt & make payments on time

This is the hard part. Stop using your credit cards. Put the credit cards away and use cash instead. Arrange all of your credit card debt in descending order starting with the least amount owed. First pay off the credit card with the smallest balance. Then roll that amount of money you were paying onto the next highest balance card for a snowball effect and continue this payment routine until all credit card balances are paid off.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

6 Save money by bundling insurance coverage.

You will save premium dollars by bundling several policies with one insurance company. Check with an independent insurance agent for combinations which may include vehicles, homeowners (or renters), umbrella liability, life, disability, and long-term care.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

7 Save coins and cash At the end of the day, put all the coins from your purse or pocket into a savings jar. Save every $5 bill from your wallet and stash it in a savings envelope. Deposit those $5 bills in your bank savings account every month.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

8 Be intentional about reducing impulse buying Be realistic when looking for opportunities to save money. People are more successful when they cut back, as opposed to cutting out. Brown bag lunch at work more often. Cut back on trips to coffee houses. Cook meals at home instead of eating out at restaurants. Limit movie theaters to once a month. Rent movies or borrow movies from the public library for free.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

9 Practice reduce, reuse, recycle Make donations to Goodwill and other organizations. Frugal can be fashionable and fun; occasionally shop at thrift stores and browse yard sales.

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

10 Drop health club membership Exercise at home; walk or jog in your neighborhood.

Bonus Savings: Stop Smoking www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.

Consumer Credit Counseling Service (CCCS) is a program of Graceworks Lutheran Services, a non-profit, faith-based organization. CCCS is a member of the National Foundation for Credit Counseling, accredited by the Council on Accreditation, and approved by the U.S. Department on Housing and Urban Development to provide comprehensive housing counseling services. We are a member of the Better Business Bureau and receive funding from United Way. CCCS is approved by the Executive Office of the U.S. Trustee (EOUST) to provide bankruptcy counseling and education. © 2012 Graceworks Lutheran Services

www.graceworks.org/cccs or 800-377-2432 to schedule an appointment for a counseling session.