When Your Income Drops

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Think Positive!

• Doesnt matter how you got here.
• No time for finger pointing.
• Look forward, not back.

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Consider the Possibilities

• Simplify your lifestyle?
• Work a second job to get caught up?
• Find a new job?
• Return to school for a new career?
• Start your own business?

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The MAP OUT

• Magnitude the size of the loss

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Assets

• Human Capital
• Tangible Assets
• Liquid Assets
• Investment Assets

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Prioritize Spending Needs

• List all of your expenses
• What happens if you do not pay?
• Rank expenses from most to least important.

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Options for Reducing Expenses

• Involve family in discussions
• Give it up
• Find cheaper alternatives
• Economize
• Barter
• Use community resources

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Unexpected RiskInsurance Matters

• Emergency Savings
• Health Insurance
• Life Insurance
• Automobile Insurance
• Homeowners Insurance

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Timeline Managing Cash-Flow

• Cash on Hand
• Anticipated Income
• Prioritized Spending Needs
• Plan Spending to Meet Needs

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Dealing with Debt

• Prioritize debts secured vs. unsecured
• Stop using credit
• Develop a plan
• Communicate with creditors
• Be prepared to negotiate

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When You Cant Pay Your Debts

• Renegotiate terms
• Go to a credit counseling agency
• See an attorney about bankruptcy options

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Tap into Community Resources

• Support Networks
• Department of Labor
• Department of Family and Children Services
• Community Action Agencies
• Faith-Based Organizations
• Parks and Libraries
• Health Department
• UGA Cooperative Extension

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Take Care of You

• Eat a balanced and nutritious diet
• Stay physically active
• Get plenty of rest
• Surround yourself with supportive family and
  friends
• Manage stress in positive ways
• Seek professional help if needed.

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Take Care of Your Family

• Stick to old routines/patterns if possible
• Keep lines of communication open.
• Engage in low- and no-cost activities
• Make sure children eat a balanced diet, get
  plenty of exercise and adequate rest
• Be alert to changes in behavior.
• Seek professional help if needed.

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Fact Sheets

• Moving Forward
• What About Your Assets?
• Planning Your Spending
• Insurance Matters
• Tap Into Community Resources
• HousingYour Top Priority
• Taking Care of You and Your Family