The calculators at PowerPay will allow you to enter your balance, current payment, and interest rate to determine the time and cost for repaying a debt. (Use the additional payment calculator from the menu once you get to the PowerPay site). You can try various debt repayment scenarios and find one that works for you. Without knowing your loan interest rate and original loan balance, it’s not possible to figure this out for you.
But if we put in some …
Unexpected loss of income can be one of the most stressful events in a lifetime. Here are some things to consider.
A job loss could potentially last for many months, so it is wise to track spending and tighten the family budget. Cooperative Extension offices in many states have information about living on a reduced income.
Apply for Unemployment Insurance
Each state has different eligibility requirements for unemployment insurance and benefits. Basically, if you’ve become unemployed through no …
Losing a job or otherwise experiencing a loss of income is a challenge in the best of times. In the current economy, it is essential to MAP OUT a plan to get back on your feet again. The PowerPoint presentation, fact sheets, and activities below are designed to help you MAP OUT your plan.
When Your Income Drops…
A net worth statement, sometimes called a financial statement, measures wealth or how much we are worth – at one point in time.
What are your assets? Assets include cash and other items of value that can be converted to cash. Some assets are more difficult than others to convert to cash. Be careful not to overvalue personal belongings, such as televisions and furniture as these often lose value over time.
• How much do you have in cash or …
Keeping a roof overhead is an important concern
when your income drops. If you rank your bills in
order of priority, chances are housing is at or near
the top of the list.
When you are under the financial stress of reduced
or lost income, one of the biggest expenses is
housing. Housing expenses include mortgage or
rent payments, insurance, taxes, household
maintenance and repair, utility bills, furnishings,
and cleaning supplies.
When income drops, careful planning can help you…
When the family faces reduced income, take
immediate action to stop all excess spending.
Whether your situation is temporary or extended,
you need to get the most for your money.
Studies have found that many families do not
adjust their lifestyle for about six months after
their income is reduced. That six months of
ignoring the situation can bring disaster. When
you take charge of your financial situation
immediately, you are making a positive
contribution to your family’s well-being …
Grocery shopping can be a real challenge,
especially if you are on a limited budget. However,
food is a flexible budget expense which can be
reduced when money is tight. By planning ahead
and managing your money wisely, you can still serve
meals which are appetizing, easily prepared, and
Food Shopping Starts at Home
Most of us can change our food spending habits in
ways that make each food dollar go further and still
improve nutrition. Before dashing …
Sometimes unforeseen events in life challenge us. Regardless of the reason, you need to take charge during these challenging times.
SIZING UP YOUR FINANCIAL SITUATION
Sometimes unforeseen events in life challenge us. They may include unemployment, downsizing, a disability, natural disasters, divorce, or widowhood. Regardless of the reason, you need to take charge during these challenging times. When faced with reduced income or increased expenses, you need to develop a spending plan to help pay your bills. If your income …