DEBT MANAGEMENT

Ramstein Airman and Family Readiness Center

 OBJECTIVES

 Understand and evaluate your individual debt

situation
 Learn practical tips and information for debt
management
INTRODUCTION
SECURED AND UNSECURED
DEBTS
WARNING SIGNS OF DEBT
TROUBLE
FIGURING HOW MUCH YOU
OWE
 Net Wages or Salary You Other Household Total Monthly
Member Income
Job 1 $3117 + $937 = $4054
Job 2 $0 + $0 = $0
Other Monthly Income
Bonuses $0 + $0 = $0
Commissions $0 + $0 = $0
Tips $0 + $115 = $115
Dividends or interest $90 + $130 = $220
Rent or lease received $950 + $0 = $950
Alimony or child support $0 + $150 = $150
Trust payments received $0 + $0 = $0
Pension or retirement pay + =
$0 $0 $0
Social Security $0 + $0 = $0
Disability pay $0 + $0 = $0
Help from relatives or friends $0 + $0 = $0
Other $0 + $0 = $0
Total Income $4157 + $1332 = $5489
VARIABLE EXPENSES FIXED EXPENSES
Food $455 Rent $1300
Utilities $145 Renter’s Insurance $80
Gas, oil, maintenance $130 Car loan payment $625
Clothing and upkeep $140 Car insurance $140
Education $400 Retirement contributions $215
Personal allowances $200 Savings $75
Credit Cards $860 Investments $250
Child Care $120 Professional Memberships $28
Clothing $60 Subscriptions $16
Entertainment $120 Total Fixed Expenses $2729
Vacations $60
Cell Phone $70
Total Variable Expenses $2760

TOTAL EXPENSES $5489

FIGURING HOW MUCH YOU
OWE
PRIORITIZING YOUR
DEBTS
NEGOTIATING WITH YOUR
CREDITORS
PROTECTIONS AVAILABLE
TO SERVICEMEMBERS
FINDING MONEY TO PAY
YOUR DEBTS
WHAT TO AVOID WHEN YOU
NEED MONEY
SCAMS THAT TARGET
MILITARY PERSONNEL
REBUILDING YOUR
CREDIT
FINAL THOUGHTS