Debt Management: Minding Your Dollars and Sense. Dollars and Sense Managing Your Finances. Presented by: Carlos Ayestas, Account Manager Citibank-The Student Loan Corporation February - 2008. “Spending Plan “. Keep it Simple Make a List Prioritize Plan Ahead Prepare for Emergencies
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Example: monthly income = $1,875, after taxes, X 3 = $5,625 in savings for emergencies
For example, if you save $35 a week (just $5 a day), you’ll have:
With interest, you’ll have well over $20,000 in just 10 years!!!
Pay at least the minimum amount required (more if you can)
Keep credit card balances low. Don’t “Max Out” your credit cards
Establish credit if you have none
Don’t open several new accounts just to get more credit
While trying to establish credit, don’t open too many accounts at once
Close any extra unused credit cardsEstablishing Good Credit
Helps individuals and families save and manage money through a Bill Consolidation and Debt Management Program which offers: