1

Assistive Technology Webinars

2

The Power of Positive Cash Flow

3

Set Goals Get organized Track spending Develop Spending Plan/Budget Budgeting Tools Why Plans Fail Power of Small Changes

4

SpecificMeasureableAchievableRelevantTimed

5

Stay focused Automation Make saving a habit Break down large goals into smaller ones

Work on goal for tomorrow and today Review progress Be patient

6

Accountability Partners Web-based Old-school

7

Discuss financial situationShare goalsSchedule reviewsSupport

8

Joe’s Goals 43 Things StickK The Prioritizer Google Docs

(See Resource Handout for links)

9

Spiral notebook Debt Thermometer Charts

10

Gather financial paperwork

Organize a home office

Designate files as permanent or temporary

Quick sort mail

11

Schedule time to pull together all important paperwork

Separate into categories Put documents in order within each

category Make note of missing documents If needed, contact company for copy Discard old bills no longer needed

◦May want to keep until paid in full

12

Accessible and safe files

Separate room? Eliminates stress Local dollar store Recycling Centers

13

Monthly bills Checking/Savings accounts Health Insurance Social Security A.T. and Out-of-Pocket Medical Expenses Other files to consider keeping

14

Junk MailPapers to FileBills and Action Items

15

Puts you in control Daily money log Track every penny that enters/leaves your life

Get receipts for everything

16

Pay bills on time to avoid late fees Have wages direct deposited Set up separate savings account Use cash envelope system Resist idea of extra cash Make lists before grocery shopping Bring bag lunch to work Comparison shop for large purchases

17

Would I pay cash for this?30-Day ruleAvoid temptationCut up credit cardsAsk for help

18

List all debts smallest to largest◦ Will see results more quickly

Pay more than minimum on smallest debt◦ Pay minimum on all other debts

As debt paid off, roll over amount◦ Apply to next debt on list

Most important step: Stop borrowing Overall monthly payment remains

the same

19

List income Your monthly expenses Balance income and expenses Review and revise plan Managing your plan

20

Net earnings from employed family members

Unemployment compensation Withdrawal from savings Tips/commissions Interest/dividends Social Security Child support/Alimony Public assistance Veterans Benefits Pensions

21

22

Every household is uniqueConsumer Expenditure Survey“Rule of Thumb” Guide

23

Which expenses are essential? Which expenses have highest priority?

Which areas can be reduced? How much can be afforded in each category?

24

Increase Income◦Part-time/supplement

Cut spending◦Cut back on controllable expenses

Reduce fixed expenses◦Refinance or move to lower cost housing

Look at other assets◦Savings or investments converted to

cash

25

Review plan with entire family Rank needs according to importance Keep records of actual vs. budget Everyone should be involved with tracking

Review after several months Revise as needed

26

◦ Savings account records

◦ Income records Pay stubs Social security

records Pension

receipts

Money management center◦ Spending plan and past

spending records◦ Bills and receipts◦ Checkbook and bank

statements◦ Credit/Debit card receipts◦ Credit card monthly

statements

27

Expense Envelope System Budget Box System Spending plan templates Excel spreadsheet Budgeting software programs

◦ Quicken◦ Moneydance◦ You Need a Budget

Web-based programs

28

Too complicated Doesn’t reflect your values

Doesn’t reflect reality

Seems like a chore

29

Wash clothes in cold water

Shop at thrift/consignment stores

Get rid of land line phone

Drink water vs. pop Turn thermostat down

Use coupons wisely Engage in free

entertainment Cancel premium

channels Check on lower

insurance rates Discard brand loyalties Buy in bulk

30

Michigan Assistive Technology Loan Fund Low-interest loans available for purchase

of assistive technology Available to individuals with

disabilities/their families that reside within Michigan

Application process Maximum loan amount is $30,000, no

minimum

31

Michigan Assistive Technology Program (MATP) ◦ Michigan Disability Rights

Coalition (MDRC)◦ 800.760.4600◦ mdrc@mymdrc.org◦ www.mymdrc.org

Michigan Assistive Technology Loan Fund (MATLF)◦ UCP of Michigan◦ 800.828.2714◦ info@michiganloanfunds.or

g◦ www.michiganloanfunds.org

32

"It gives much more pain to the mind to be in debt, than to do without any article which we may seem to want.” - Thomas Jefferson