fit healthy€¦ · do-it-yourself check-up ..... 40. for more information ... training...

fit& healthy financially

T EXTBOOK

CONT ENT SIntroduction .......................................................................................................1

What Is A Checking Account? ........................................................................2

More About Checks .........................................................................................2

The Checkbook Register ................................................................................2

Common Uses of Checks ...............................................................................4

Advantages of Using Checks Instead of Cash ............................................4

The Check Register ..........................................................................................5

How Checks Bounce and Become Bad Checks ........................................6

Legal Issues - What Makes a Bad Check a Crime ......................................6

Wise Financial Choices Are Your Responsibility ........................................7

Do Not Blame Your Behavior On Others ...................................................8

Do Not Try to Justify Your Behavior .............................................................8

Real Costs Of Passing A Bad Check .............................................................9

Other Costs Associated With Writing A Bad Check ............................. 10

Understanding Why You Passed a Bad Check ........................................ 11

It Might Help to Think About Your Life As A Movie .............................. 11

Reasons for Me Not to Write Bad Checks ............................................ 12

Learning to Plan and Budget Accordingly ................................................. 13

Managing Your Goals ..................................................................................... 15

Creating Your Budget – Tips for Success .................................................. 16

Making a Monthly Budget ............................................................................. 18

Let’s Look At The Different Expenses ....................................................... 20

Fixed Expenses ............................................................................................... 20

Planning for Periodic Expenses ................................................................... 21

Variable Expenses ........................................................................................... 22

Let’s Examine Situations Of Excess Or Shortage ................................... 23

Three Ways to Balance Your Budget .......................................................... 24

Money Management ...................................................................................... 25

Wants Versus Needs ...................................................................................... 25

Create An Emergency Fund ......................................................................... 28

Tracking Your Expenses ................................................................................. 29

Balancing Your Check Book ......................................................................... 29

Financial Strengths ........................................................................................ 32

Financial Weaknesses ................................................................................... 33

Take A Financial Fitness Test ........................................................................ 34

Money Management For Couples .............................................................. 35

Tips for Managing Separate Checking Accounts ..................................... 35

Stretching Your Dollars by Cutting Your Spending ................................. 36

Money Saving Strategies ............................................................................... 36

Additional Resources .................................................................................... 38

How To Fix A Bad Credit Report .............................................................. 39

Do-It-Yourself Check-Up ............................................................................. 40

For More Information ................................................................................... 41

Make the Commitment – Now! ................................................................. 42

Textbook – Financial Training for Check Writers Page 1

INTRODUCTIONThis course is written for people who have committed the offense of writing a bad check. It deals with the aspects of passing a criminal bad check but it also provides the tools for a healthier financial life.

One objective of this course is to give you a good understanding of what role the check plays in our society and why the law is strict on check crime. We believe that knowledge reduces the likelihood that someone will be a repeat offender. However knowledge about the crime itself is not enough to keep someone from committing the same crime again. That’s why this program also teaches you how to manage your checking account and how to more effectively manage your money.

Please note that throughout your training, we will use the term “District Attorney” when we are talking about the elected prosecutor. Where you live, this official might have another title such as County Attorney, Prosecuting Attorney, Prosecutor, State’s Attorney, State Attorney, Criminal District Attorney, Solicitor or other title. We will also refer to bounced checks as bad checks. In other states, they might be called hot checks, cold checks, worthless checks or bogus checks. These names all mean the same thing.

Our intent is to ensure that you are never in a situation in which you would write a bad check. You can begin a financially healthier future today! As we navigate through the financial planning activities of this course, it will be necessary for you to refer to your financial records such as canceled checks and bills from a few months back. We will reiterate what is needed when we get to that section of this program. Most financial activity answers will vary according to your particular situation, but some questions will require a specific mathematical answer.

Workbook The Financial Training Workbook contains all the financial activity forms referred to in the Textbook.

Training Verification Form Throughout this course, we have included “checkpoints” to ensure that you are following along as planned. The final step of this course is the completion of the Training Verification form with your name, address and also the District Attorney’s name, County and State from which you were assigned this financial training program. The Training Verification form also includes spaces to input your checkpoint answers. You can start now by inputting the word “check” in the space provided at checkpoint #1 on the Training Verification form.

What Should I Do When I’m Done? You should save a copy of all of your hard work for your records. When you have finished filling in all of your checkpoints on the Training Verification Form, mail it back to us at Training Verification Services 7501 NW Tiffany Springs Parkway, #300 Kansas City, MO 64153

This financial training program can be accessed on-line at www.hotchecks.net/financialtraining. You may prefer to fill in the on-line Training Verification form and email it to us.


A check is a legal note guaranteeing payment of money. A check is not an IOU!

What Is A Checking Account?A checking account is a service provided by financial institutions (banks, savings and loans, credit unions, etc.) which allows individuals and businesses to deposit money and withdraw funds from a federally-protected account. The terms of a checking account may vary from bank to bank, but in general a checking account holder can use personal checks in place of cash to pay debts. He or she can also use electronic debit cards or ATM cards to access individual accounts or make cash withdrawals.

More About ChecksA check is a legal document that gives the bank permission to pay the person you have named on the check. This person can take the check to your bank and get paid. The bank takes money from your checking account and pays the person you have named on the check. The amount left in your account is your balance.

Owners of a checking account are ultimately responsible for keeping track of their available funds, even though the bank will routinely issue its own accounting statements. Checks must represent an actual amount of money contained in the checking account itself. If a check is written for an amount higher than the available balance, the check writer faces numerous fees and possible legal action. The recipient of the bad check can demand immediate cash payment for the original debt as well as a substantial fee for the returned check. Some banks will protect checking account holders by making the proper payments and notifying the check writer that an overdraft has taken place. Most often the bank will recoup their losses through substantial service charges, so it pays to avoid writing checks when the balance is unknown.

Most banks have several different methods which allow checking account customers to check their balances and reconcile their records. Printed monthly statements of debits and credits (deposits) are mailed to individual account holders. ATM machines offer an option to check the current balance, while online or phone-in accounts can provide real time updates on which checks have been processed and which are still outstanding. This information can be compared with the entries recorded in a journal called a check register.

As long as the account holder maintains accurate financial records, a checking account provides a safe and efficient way to pay bills and deposit money from payroll checks and other income sources.

The Checkbook RegisterA checkbook register is a form that accompanies checks for the purpose of tracking and balancing checking accounts. A checkbook register normally comes as a small booklet that can be inserted into a checkbook cover along with checks. There are specific fields included on the checkbook register form that help account holders track their spending and balance their checkbook.


The specific fields included on a checkbook register are designed to record detailed information. The date a transaction is made, the check number, a memo line for recording who or what a check was written for or a debit was made, and a field for recording the amount of the check or debit are common fields. An additional field to record any deposits or credits to the account and a final field for carrying a running total balance are also included. There are usually additional fields to mark indicators when each check has cleared as well as a column to mark if the purchase or expense is tax deductible.

If you are like many people who do a poor job of recording checking information in a checkbook register, you might consider developing new habits. By recording the details of every purchase or expense paid for with a check, you not only see where your money is going, but also have a record of any discrepancies that might arise. Rarely do checkbook registers balance out to the penny when compared to bank statements due to human mathematical errors, but having a record of expenses is very helpful when planning a personal budget.

We recommend keeping checkbook registers and the corresponding bank statements for a period of at least one year from the date of the last check recorded. You can store them in file folders in drawers or in plastic bins designated to personal records. Stack the checkbook register and the statements together, wrap a rubber band around them, and mark them with a date. This way if you want to see what your electric bill or grocery expenses were for the past six or twelve months, you have an easily accessible record. A checkbook register is an excellent way to track your expenses and monitor your budget. Stellar financial record keeping is the best way to properly and efficiently manage your finances.

When you write a check, always remember to

1. Write down the check number,

2. The date,

3. Who it was to, what it was for,

4. The amount, and most important, your new balance.

5. You must record your deposits

To get your new balance, always subtract the check amount from the balance immediately. Don’t risk writing a bad check because you failed to track your expenses, and therefore, did not know how much money you had in your account.

A common mistake in keeping track of your checking account balance is forgetting to make a note of your ATM machine withdrawals. Every time you visit the ATM machine to get cash you need to make a note in the check register. And as with checks, you need to make a note in the check register immediately otherwise you will most likely forget. If you forget you are more likely to write a bad check because you have no idea that you are running out of money. Another payment type that is very easy to forget is the automatic payment. If you have given permission to someone to automatically withdraw a certain amount from your account every month, you have to remember to record this amount in your check register the day that transaction happens. You must record your deposits as well. Immediately updating your check register should become a habit, don’t wait until later.


Common Uses of ChecksLike cash, consider checks to be a form of immediate payment. You decide to buy something from the store. After picking out what you need, you give actual money to the store, then take the item home with you. You would not consider leaving the store without paying for the items that you are taking home. If so, you would clearly be committing a crime of theft or stealing.

Advantages of Using Checks Instead of CashChecks may be old-fashioned, but they are convenient and easy to use. They’re handy for paying bills and for keeping a physical record of transactions.

Security It’s safer to send checks in the mail than cash. They can be wrapped in paper and obscured, and further hidden by using opaque safety envelopes. They are also less of a draw for thieves than cash.

Records As most people write checks, they tend to record it in the register. With credit or debit card purchases, they may not take a note. Duplicate checks also help with record-keeping.

Proof It’s quick and easy to prove that a payment was made with checks. You need only show the canceled check or image from an online banking page. After cashing the check, there’s nothing else to pay, unlike credit cards that quickly grow a balance.

Summary of Check Writing Advantages

• They are easy to carry - You need not carry bundles of cash

• They are safer - You can issue a stop payment on a check in case it gets stolen

• They are easier to track - You can keep track of who used your check, how much was it, which date it was issued, etc.

• A check is a legal document - not a loan!

The check is a note – a legal document – that you write giving someone else permission to get payment from your checking account. When you issue a check, you are legally promising the person that you are giving the check to, that they can get the money from your account. To that person, your check is the same as cash and you are guaranteeing that you have the money in your account.


How Checks Bounce and Become Bad ChecksWhen you write a check, you are guaranteeing that you have the money in the bank, not tomorrow or next week. Bounced checks (a.k.a. “bad” or “rubber” or “non-sufficient funds” -- NSF -- checks) are an expensive hassle at best. At worst, they can result in criminal prosecution or even cost you the job you want.

They occur more frequently today thanks to electronic check clearing, which means banks don’t have to actually process your physical check. Digital “substitute checks” can now be presented instead. That means checks can clear within a few hours instead of a few days.

There are lots of ways to bounce a check:

• You forget to enter a check, debit purchase, or automatic withdrawal in your checkbook and think you have more money in the account than you do.

• Your spouse forgets to tell you that he or she used the debit card.

• You don’t balance your checkbook.

• You write a check expecting to be able to make a deposit before it clears.

• You write a check knowing that you don’t have the money to cover it.

• Your bank or credit union makes a mistake and your account shows less money than it should.

• Your debit card is used by a crook (or a friend or relative who decides they need your money more than you do).

• Your bank indicates a balance that includes available overdraft protection rather than your actual balance.

• Someone writes a check to you, then you deposit it, and their check bounces. You’ll probably pay a fee to your bank for depositing the bad check, and if you’ve written checks against that balance, your checks will bounce.

Legal Issues - What Makes a Bad Check a CrimeState laws address the penalties for writing bad checks. There are generally two types of penalties for NSF checks: civil and criminal. Civil penalties address how much the recipient can collect after receiving a bad check. In some states, this can be much more than the amount of the bad check, and may include double or triple the amount of the check plus attorney fees and damages.

Under criminal penalties, you can be prosecuted and even arrested for writing a bad check. Bounced checks typically

If there is not enough money in

your account, your check bounces and is returned to the store. The store does not get

paid for the purchases you made.

NSF


Do Not Blame Your Behavior On OthersYou have committed the crime of writing a bad check. For many people the first reaction is to explain what happened. During that explanation it is clear that this was a mistake, that this was not their fault, there was actually nothing they could do about it – committing the crime was something that would have happened to anyone and everyone in that situation. This defense is a very human reaction but it is not a great help to you in this situation.

Blaming others occurs when the check writer stating that there was nothing he or she could do about writing a bad check reasoning that it was someone else’s fault that the bad check occurred. Following are some examples:

• A lady from a nice suburban neighborhood said: “I have a joint account with my husband, he wrote checks that I didn’t know about.” In this case, the wife is blaming her bad check on her husbands spending.

If you have a joint account, it is your responsibility to coordinate the account with the other person. In some situations, this may not be possible. A simple solution is to have two accounts. In some cases however, having two accounts would not have prevented writing a bad check. Blaming her husband was just an excuse, a way for the lady to not take responsibility for her action. We’ll discuss money management for couples later in this financial training program.

• A young man in his twenties said: “The bank messed up my checks. I know that I had money in my account.” Very seldom is the bank the source for bounced checks. If that should be the case, most banks are very eager to help and put things right again. If you believe your bad checks were the result of your bank messing up, it is highly unlikely that your checks would have been sent to the District Attorney for prosecution – and you would not be required to complete this financial training program.

You had the choice of writing the check or not writing the check. Maybe you did not know that the check was going to bounce. The choice was still yours. It was your choice to not keep the necessary records in order to know that the check would bounce. Again, it is of utmost importance to keep your register up-to-date. You are responsible.

If you blame others for your actions, you minimize your chance to improve the situation. You may continue to write the bad checks. Change is needed to break this cycle.

Do Not Try to Justify Your BehaviorJustifying your behavior occurs when you try to convince yourself and others that writing a bad check is not really wrong, believing that for you, due to your special situation, your actions were justified. Following are some examples:

• An unemployed man said: “This store is so rich, they can afford a bad check.” That comment misses the point. The stores profitability does not justify anyone’s right to steal. Writing a bad check is still a crime.

• A mother of four with a low paying job told us: “My kids needed these things.” There are many worthy causes for purchases. Food, clothing, rent – basic necessities in life. No matter how necessary an item may be, writing a bad

Pointing fingers at others for your behavior is not going to

help you. Taking responsibility for your actions is the first step towards making changes that will help you live a financially

healthy life.


Activity #2 – The Real Cost of Passing a Bad Check

Fill in the costs that you have had to pay for your bad check in the spaces provided in the table. In order to fill in the correct information you might have to look at the letters and notices you have received from the District Attorney’s Office.

Bank Charge for the Check WriterThe bank will often charge a fee to your account for the extra work you are causing the bank because your check bounced.

$

Victim/Merchant FeeIn some states, the store can charge a fee for returned checks. This is normally posed in the store. $

Fee to District AttorneyIn most states, the district attorney will charge an administrative fee for allowing you to pay the check prior to going to court.

$

Education FeeMany courts and district attorney offices require offenders to participate in educational programs. There is normally a fee for these course and classes.

$

Court Costs If you do not pay your check before your case goes to court, you most likely have to pay court costs. These costs vary, but can be over $100, even for small checks. $

Warrant FeeSome jurisdictions also charge a warrant fee in addition to the court costs. $

Generally, there are also other costs, both emotional costs and hard “out-of-pocket” costs. Example: Stress in your relationship with your spouse, job related costs (absence due to court appearance, etc.) and other. Below, list a few of the other non-monetary and financial expenses that you have experienced:

Total $

Did you fill in any costs other than the fees that the DA has charged you in connection with passing the bad check? Do you feel guilt, remorse or embarrassment over your dealings with the District Attorney? Did making arrangements for payment of the check require so much time that you needed to be absent from work or other activities? All the extra worries and time are also costs in your life—time and money that you could have spent on something better than paying fees for bad checks and completing offender education programs. Think about it—what would you have done with the money and time you would have saved if you had not passed a bad check? Now go to the Training Verification form and fill in checkpoint #4 with the word “expensive”.


Problem

Awareness

How to Solve the Problem

Desire

Skills

Change Behavior

Problem awareness leads to a desire to do something about your prob-lem. If you have the desire to change your situation, you can learn new skills. The more you learn about how to change your situation, the more you want to change.


Reasons for Me Not to Write Bad Checks Give some thought to what reasons you have in your life, NOT to write bad checks. Think about the good things in your life and why those good things could motivate you to stay away from writing bad checks.

There are many reasons for you to not write another bad check. For some people, it is to be a good example to the kids. For some it is a desire not to break the law. For others, it is to avoid the embarrassment of being chased by law enforcement. For others it is to build a good credit report for the future.

Write down your reasons for not passing a bad check.

Activity #3 – Reasons for Me Not to Write Bad Checks


Sample Goals

Estimated

CostTarget

DateMonthly

Cost or Savings

1. Pay off the care loan in 18 months $3,600 18 months

$200(divide $3,600 by 18)

2. Establish an emergency fund of $1,000 in a saving account within 12 months. $1,000 12

months$83(divide $1,000 by 12)

3. Pay off credit card in 8 months $300 8 months

$45 (divide $300 by 8 + interest)

4. Buy a computer in the next year $900 12 months

$75 (divide $1,000 by 12)


Activity #4 – Setting Financial Recovery Goals

When you work on your goals you may need to gather information about your current loans and balances.

Don’t try to do too much at the same time. It is better to have a few goals and actually achieve them than to have many goals and miss them all. Now it is your turn to fill in your goals in the space provided. We have allowed you only three lines. It is important not to overdo goal setting. Don’t set yourself too many goals. The risk is that you will spread yourself too thin and then not being able to accomplish any of your goals:

Goals Estimated Cost Target Date Monthly Cost or Savings


Activity #5 – Monthly Household Income

Monthly Net Income Monthly Income

Myself

Spouse

Other members of the householdOther sources for the householdTOTAL household monthly income


Activity #6 – Types of Expenses

q Rent/Mortgage q Electricity q Water q Phone q Gas q Daycare

q Cell Phone q Internet q Memberships q Subscriptions q Dues q Misc. Expenses

q Gas q Parking q Service and Maintenance q Bus, Subway, Train

q Groceries q Dining Out q Barber/Hair Stylist q Pet Supplies q Misc. Expenses

q Doctor q Dentist q Pharmacy q Hospital

q Clothes q Shoes q Laundry q Dry Cleaning q Misc. Expenses

q Church q Charity q School Supplies q Lessons/Training Fees q Fundraisers/Charity

q Repair q Yard Supplies q Furniture q Cleaning Supplies q Appliances

Recreation q Health Clubs q Sports & Equipment q Travel/Vacation

Insurance: q Life q Health q House & Home q Car

Savings: q for your goal q for retirement q for emergencies

Payments: q Car payment q Furniture q Credit Card q Other


Activity #7 – Fixed Expenses Date Due Total

Rent or Mortgage

Phone

Tuition/Education

Car Loan Payment

Taxes

Dues/Memberships

Cable Bill

Cell Phone

Internet

Other

Other

Other

Other

TOTAL fixed expenses


Activity #8 – Periodic Expenses

Total Last 12 months

Total per month Last 12 months

Total per month

NEXT 12 months

Property Tax

Home Insurance

Auto Insurance

Car License

Car Maintenance

Household Appliances

Furniture

Dues/Fees

Subscriptions

Other

Other

Other

TOTAL periodic expenses


Activity #9 – Variable Expenses

Total per month Variable Total

per month

Food/Groceries Beauty/Barber Shop

Work Lunches/Snacks Toiletries

School Lunches Children’s Allowance

Diaper Expense Tobacco Products

Doctor Beer, Wine, Liquor

Dentist Movies/Videos/Other

Medicine/Prescriptions Restaurants

Glasses/Contacts Fitness/Social Clubs

Clothing Vacations/Trips

Laundry/Dry Cleaning Pet Care/Supplies

Tuition Hobbies/Crafts

Books/Magazines Postage/Money Orders

Lessons (Sports/Music) Other

Donations/Charity Other

Gifts (Birthday/Holiday) Other

TOTAL column 1 expenses

TOTAL column 2 expenses

TOTAL columns 1 & 2 variable expenses:


Activity #10 – Balancing Your Budget Total

Take Home PAY +

Your GOAL -

Total FIXED Expenses -

Total PERIODIC Expenses -

Total VARIABLE Expenses -

Excess (+) or Shortage (-) +/-


Needs Think of these, as the basic bills you need to pay each and every month — like your mortgage and your car payment. Respond with True or False to the following statements:

Activity #11 – Needs and Must-Haves True False

I worry about having enough money to cover my regular bills, like my electric bill.

It seems like most of my money goes to things I can’t control, like rent or car payments.

By the time I pay my big bills, there is hardly anything left over.

The cost of living for just the basics (housing, car insurance) seems way out of reach.

I can only spend money on things I need, but there still isn’t enough.

Even though I never buy anything extravagant, I don’t have anything in savings.

I can’t think of anything in my budget that I could really cut back on.

If you marked True more than once, you are probably heavy on the Must-Haves.


Wants You may be one of those people whose basic costs are under control, but you still find it tough to put money away at the end of the month. Respond with True or False to the following statements:

Activity #12 – Do You Overspend on Wants True False

When I go shopping, I’m never quite sure how much I can afford to spend on things.

When I see something I really want, I just buy it, even if I don’t have the money.

I never know where all the money goes.

I buy things, and then after I get them home, I worry that I can’t afford them.

Worrying about money sometimes takes the pleasure out of outings that are supposed to be fun.When holidays or birthdays come up, I’m not sure how much I can afford to spend.

I probably spend too much on clothes, restaurant meals, and/or going out for fun.

I work hard, so I buy the things I deserve.

If you marked True more than once, you are probably overspending on your Wants.


Saving is the road to financial health. Is your savings plan a “next month we’ll do it” because this month never works out? Respond with True or False to the following statements:

Activity #13 – Do You Save Enough True False

I work hard, but I still don’t have much.

I don’t have a plan for regular saving.

I worry about having enough for retirement.

If I lost my paycheck for three months, I don’t know what I would do.

When I have to deal with small emergencies (e.g., car trouble, extensive dental work), I have to use my credit cards to pay the bills over time.

I don’t have a real plan for saving for college for my children.

I owe money to a friend or loved one.

When I make a major purchase, like a new sofa or a dishwasher, I need to pay in installments.If you marked True more than once, you are struggling to save enough money. If you aren’t saving enough, then you are spending too much money on your Wants, Needs or both.


Reconciliation

Ending balance on bank statement +

ADD Deposits not listed on the bank statement +

SUBTRACT Checks and ATM withdrawals not listed on the bank statement -

Total =

ADD any interest on the bank account +

SUBTRACT any charges from the bank -

Balance (money in your account) =

Deposits not in the bank statement Checks and ATM withdrawals not in the bank statement

Deposit Amount Check # Amount

$ $

$ $

$ $

$ $

Total $ Total $


Financial Strengths With the background of what we have talked about so far in the program fill in your financial strengths and weaknesses. Be honest with yourself when you answer, try not to deny anything.

Your answers on these questions will help determine how well you have followed the program as well as guide our further development of this program. Note that your answers are not going to be kept. After being checked for completion your records will be destroyed.

There are bright spots even in the darkest financial situation. Those bright spots could be: “I have a steady job that pays $X”; “My rent is very reasonable at only $XXX per month”; “My spouse has a good job that pays well”; “In the past I managed to save money on a regular basis and I am convinced I can do it again!”

Find your bright spots! In the space below, write down the bright sides of your financial situation:

Activity #15 – My Financial Strengths


Financial Weaknesses Identify your biggest financial weaknesses and write them in the space provided below. Also write down a brief action plan. What are you going to do about these weaknesses?

Examples of financial weaknesses: “I have a difficult time resisting temptation in stores”; “I can’t keep track of anything, including my finances”; “My rent is too high and I will never be able to keep up”.

Activity #16 – My Financial Weaknesses My Action Plan to Change


Take A Financial Fitness TestAre you in a situation where you are getting deeper and deeper in in debt? Are you paying bills later and later? Are you taking new loans to pay off old ones? These might be signs that you have a serious problem – that you need help to straighten things out.

How fit are your finances? In order to find out if you should ask for help, take the Financial Fitness Test. Answer Yes or No to each question.

Activity #17 – My Financial Health

1. Do you have a clean and neat area to do your bills and your financial planning?

2. Do you have a savings account that you add to on a monthly basis?

3. Do you have an “emergency fund” of at least three months salary in a savings account?

4. Do you spend less than you earn?

5. Do you avoid major credit card purchases?

6. Are you spending less and less of your income towards paying debt?

7. Do you use your savings account only for major purchases and not for monthly bills?

8. Is your total debt on credit cards decreasing?

9. Are you always paying more than the minimum on your credit cards?

10. Are you paying bills on time most of the time?

11. Do you have a formal plan for your retirement funds?

12. Do you save regularly for your retirement?

Total the number of Yes and No 12 Yes = Excellent financial health 9-11 Yes = Good financial health but better planning and spending control will allow you to start saving and plan for the future. 5-8 Yes = Shaky. You need to cut back on credit card use, watch for over spending. Plan your finances. Make a budget. 0-4 Yes = You are in trouble. Contact Consumer Credit Counseling Services.

14. Do you take out new loans before the old ones are paid off or to pay off other debts?

15. Have you ever borrowed money from one creditor to pay another creditor?

16. Are you using credit to pay for items that you used to pay for with cash?

17. Are you near or at the limit of your lines of credit? (Including credit cards)

18. Do you ever pay bills late because you do not have the money available?

If you answered “yes” to any of the questions 14 through 18 • You are headed into a credit trap. • You might want to schedule an appointment with someone that can help. Additional resources are provided near the end of this textbook.


http://http://freebies.about.com/od/otherfreebies/tp/brand-name-freebies.htm

http://http://frugalliving.about.com/od/doityourself/ss/Change_Oil.htm


http://www.mymoney.gov/


http://www.dailyfinance.com/category/personal-finance/

http://www.bankrate.com/


http://www.ftc.gov/bcp/menus/consumer/credit.shtm

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.shtm




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