MANAGING YOUR MONEY AND MORE

FOR HEALTHCARE NAVIGATORS

 REGIONS FINANCIAL FUNDAMENTALS

This information is general in nature and is provided for

educational purposes only. Regions makes no representations
as to the accuracy, completeness, timeliness, suitability, or
validity of any information presented. Information provided
should not be relied on or interpreted as accounting, financial
planning, investment, legal, or tax advice. Regions encourages
you to consult a professional for advice applicable to your
specific situation.
2014 Regions
Bank.
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 MANAGING
YOUR
MONEY
[Add your name
and title here]

60 Minutes

4
 AGENDA
Today we will answer these big questions . . .

1. How can you prepare a personal spending plan, stretch

your paycheck and simplify your money management
process?
2. What should you know about consumer credit reports,
credit scores and applying for credit?
3. How can you be prepared in advance for things that may
impact your financial situation?
4. You can pay your monthly household expenses, but are
having trouble paying all of your loans. What options can
you consider?
This information is general in nature and is provided for educational purposes only. Regions makes no representations as to the
accuracy, completeness, timeliness, suitability, or validity of any information presented. Information provided should not be relied
on or interpreted as accounting, financial planning, investment, legal, or tax advice. Regions encourages you to consult a
professional for advice applicable to your specific situation.

5
 be
specific

6
 SET FINANCIAL GOALS

IDENTIFY YOUR ORGANIZE YOUR EDUCATE EVALUATE

FINANCIAL GOALS FINANCIAL YOURSELF YOUR PROGRESS
GOALS

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 A spending plan
should be:
Balanced
Flexible
Realistic

Set Financial Develop and follow a personal spending

Goals
Know where your money comes from
Know where your money goes

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 DA PRESCRIPTIO HOUSING/ INSURANCE DEBTS FOOD CAR PAYMENT HEALTH
Y N DRUGS UTILITIES CARE
COSTS

1 $ 1,600
2 $ 100
3 $30
0
4 $ 250
5 $500
6 $450
7 $75
8 $ 50
WHERE DOES
YOUR MONEY
GO?
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 increase your

income

11
 know your
expenses

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 PERSONAL SPENDING PLANINCOME

MY INCOME
Wages $ 4,640
Public assistance $ 0
Child support/alimony $ 0
Interest/dividends $ 10
Social Security $ 0
Advanced earned income credit $ 0
Other $ 0
TOTAL INCOME $ 4,650

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 PERSONAL SPENDING PLANEXPENSES

MY FIXED EXPENSES MY VARIABLE EXPENSES

Rent/Mortgage $ 1,600 Savings $ 200
Property $ 250 Utilities $ 50
Taxes/Insurance Electricity $ 200
Trash collection $ 30 Water $ 60
Car payment $ 450 Telephone/Cell phone $ 75
Car Insurance $ 80 Transportation/Gas $ 150
Other loan payments $ 150 Car maintenance $ 50
Health insurance $ 75 Prescription Drugs $ 200
Day care $ 100 Groceries/Food $ 300
TOTAL FIXED EXPENSES $ 2,735
Healthcare Expenses $ 50
Personal expenses/other $ 500
TOTAL INCOME = $ 4,650
TOTAL VARIABLE
TOTAL EXPENSES $ 1,835
$ 4,570 EXPENSES
=

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 PERSONAL SPENDING PLAN TOOLS

BANK PERSONAL
FINANCIAL
MANAGEMENT
SYSTEM OR
SPREADSHEET
SYSTEM

BUDGET
BOX
SYSTEM

EXPENSE
ENVELOPE
SYSTEM

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 Know Where You Are Keep accurate records
Organize your files so it is easy to find important information
Mail checks for bill payments at least one week before they are due or
use your banks automated bill pay service
Keep your tax records for at least three years
Keep records in a safe place in your home or safe deposit box
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 Uh oh. What do I do when there
are more expenses than
income?

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 Wha
t can
incre I do t
ase m o
incom y
e?

What can I
do to decrease
my spending?

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 PAYCHECK
STRETCHING YOUR

THE ONE BUDGET FIND

WEEK RULE BUSTERS FREEBIES RENT

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 Decrease Spending Bargain hunting
Comparison shop online before you Take advantage of group
buy discounts
Weigh quality vs. price Max out your savings
Wait for sales Look for sample sales
Ask for a better deal on big ticket Consider outlet malls
23 items
 UNDERSTANDIN
G CONSUMER
CREDIT REPORTS

25
 infor
yourself

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m
 WHAT
IS IN A
TYPICAL
CREDIT
REPORT?

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 CREDIT SCORES
How much of a credit risk are you?

300 Take 600 850

Action!
Very Excellen
Good t
Bad

Poor
Good

OK or
Fair

28From FDICs Money Smart program

 SAMPLE CREDIT SCORE
What determines your credit score?

Types of Credit

10%

10%
35% Past
Payment History

New Applications
15% 720
for Credit

Length of
Credit History 30%
Outstanding
Debt

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 Getting a Loan Credit Report Uses
To obtain loans and other credit
To get certain kinds of jobs
For housing (rental applications and mortgages)
To obtain insurance
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 APPLYING FOR CREDIT

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 HAVE A PLAN
THAT
SIMPLIFIES
YOUR
FINANCIAL
SITUATION

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 FINANCIAL STABILITY PLAN

CREATE A COPY TALK WITH SIMPLIFY YOUR

COMPREHENSIVE IMPORTANT YOUR BANKER MONTHLY
CONTACT LIST DOCUMENTS, ABOUT YOUR BANKING
POLICIES AND ACCOUNTS &
CONTACTS FINANCIAL
NEEDS

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 Financial
Stability
Talk to your creditors
Get credit counseling

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 Getting Help Credit Counseling Agencies

Interview several companies before signing a contract

Be sure they are reputable
Ask questions about services, fees and a repayment plan

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 CONGRATULATIONS
Today, you will leave with:

The steps for setting financial goals

Worksheet for tracking spending habits
Worksheet for saving and spending plan to estimate income
and expenses
Important information about credit reports and credit
reporting agencies
Considerations for creating a contingency plan for financial
stability

Thank you.
This information is general in nature, is provided for educational purposes only, and should not
be relied on or interpreted as accounting, financial planning, investment, legal or tax advice.
Regions neither endorses nor guarantees this information and encourages you to consult a
professional for advice applicable to your specific situation.
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 WANT TO LEARN MORE ABOUT HOW
REGIONS CAN HELP YOU MEET YOUR
FINANCIAL GOALS?
To make an appointment with a Regions banker:

Call the Regions Green Line at 1-800-REGIONS

Go to regions.com and click Make an
Appointment
Visit any Regions branch

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