Managing Your Cash Flow and Credit

Overview/Description
 Do you find that your money goes out as fast as it comes in? Would you like to be able to save money for your children's education or for your own retirement? Want to buy a house, but just can't save the down payment? This course will show you how to create a realistic budget that will allow you to live within your means while at the same time building a nest egg for the future. But budgeting is only the first step in financial planning. You will also learn how to better manage your credit and restructure your debt in order to increase your cash flow. With successful financial planning, you too can fulfill your dreams of being financially stable. Throughout this course, the tax rules or tax values provided in the examples and calculations are based on the year 2001 tax guide.

Target Audience
 General American audience

Expected Duration
2.5 hours

Lesson Objectives:

Managing Your Cash Flow

  • recognize the benefits of managing your cash flow.
  • calculate the financial position of a couple in a given scenario.
  • choose the options available to meet a given couple's financial goals.
  • apply the steps to creating a budget, for a given scenario.
  • match the methods to increase cash flow to given examples.
  • calculate the financial impact of a working spouse, for a given scenario.

    • Credit Options

  • identify the benefits of properly managing your credit.
  • match the types of credit cards to their characteristics.
  • identify methods to manage credit card debt.
  • match the different types of loans to their characteristics.
  • identify appropriate decisions for managing a credit line, given a scenario.

    • Restructuring Your Debt

  • identify the benefits of restructuring debt.
  • apply the rules of thumb for refinancing to determine if refinancing is the best option for restructuring debt, given a scenario.
  • identify the characteristics of a home equity loan.
  • identify if the mortgage interest on a combined home equity and refinancing loan is tax deductible, given a scenario.
  • apply the rules for borrowing against a retirement account to a given scenario.

    • Course Number: PD0141