Step by Step Student Agenda

*STUDENT FILLS OUT AND RETURN QUESTIONNAIRE BY EMAIL OR MAIL 

*15 MIN. INTERVIEW WITH THE STUDENT ON THE PHONE IF NEEDED – ASK QUESTIONS IN PREP FOR MEET

            SET TIME AND DATE, DIRECTIONS 

*BEFORE MEETING THERE WILL BE A REVIEW OF THE STUDENT’S EXPENSES AND INCOME

*1^ST MEETING GOAL: UNDERSTANDING THE STUDENT'S CIRCUMSTANCES AND BASIC COACHING ON THE PROGRAM

*2^ND MEETING GOAL: DETAILED OUTLINE OF THE SPECIFIC PROGRAM FOR THE STUDENT

*MEETING TIME IS SCHEDULED WITH STUDENT

*PRIOR TO 1^ST MEETING THE STUDENT WILL PREPARE:

            *DETAILED DIARY OF EVERY EXPENSE

            *COLLECTION OF ALL PAPERWORK: CHECKING ACCOUNT, INVESTMENTS, BILLS / INVOICES / STATEMENTS, PAYSTUBS

            *COMPLETED QUESTIONNAIRE

            *LIST OF PRIMARY GOALS

*FIRST MEETING:

*INTRODUCTION – WHY ARE YOU PARTICIPATING IN THIS PROGRAM?

*TELL ME ABOUT YOUR CURRENT FINANCIAL SITUATION

*OVERVIEW OF THE PROGRAM STEPS

*REVIEW OF QUESTIONNAIRE RESULTS FOR ACCURACY

*REVIEW WITH STUDENT HIS OR HER PERSONAL GOALS

*WHAT OUTSTANDING ISSUES ARE THERE THAT WE NEED TO ADDRESS?

ISSUES THAT ARE ROAD BLOCKS TO MOVING FORWARD?

*INSTRUCTIONS - REVIEW THE ROUGH DRAFT BUDGET

            HOW, WHEN, AND WHAT TO BUDGET

*REDUCING TAXES: (DONATION, PAYCHECK, BUSINESS)

*RECOMMENDATIONS TO START WORKING ON NOW (SEE BELOW)

*ASSIGN HOMEWORK

*GIVE STUDENT COPY OF WORK BOOK

*TALK ABOUT THE SPECIAL SKILLS OR HOBBIES THEY HAVE AND HOW TO TURN THAT INTO A TAX SAVINGS

*AT 1^ST MEETING: DISCUSSION: MONEY SHOULD MOVE US FORWARD

            *TALK ABOUT GROWING YOUR WORLD; NOT LETTING IT SHRINK AROUND YOU

                        GAINING QUALITY OF LIFE. DEBT AND OVERSPENDING BECOME CHAINS

                        AROUND YOUR NECK. – REVIEW FROM BOOK

                        1. POOR PEOPLE MAKE POOR DECISIONS – POOR QUALITY / PAY MORE

                        2. BUY ASSETS; NOT LIABILITIES (LIABILITIES WILL APPEAR FUN ON THE SURFACE)

                                    (ASSETS GENERATE MONEY IN THE FUTURE BY SAVING MONEY NOW)

                        3. DECISION DOMINOS – GOOD LEADS TO GOOD; BAD LEADS TO MORE BAD

*AT 1^ST MEETING: DISCUSSION: LET’S BE REALISTIC

LIVING WITHIN YOUR MEANS  / GROWING YOUR MEANS – REVIEW FROM BOOK 

                        1. WHAT IS FAKE MONEY? CREDIT. YOU CANT SPEND WHAT YOU DON’T HAVE

                        2. WRITE THE PLAN AND THEN STICK TO THE PLAN

                        3. LIVE WITHIN YOUR BUDGET BUT GET $1.25 OR MORE FOR $1.00

*AT 1^ST MEETING: BUDGET: GETTING CONTROL OF YOUR FINANCES

*DISCUSSION:

*A REVIEW OF THEIR ROUGH DRAFT BUDGET WHICH INCLUDES THEIR CURRENT SPENDING HABITS

            *REVIEW OF SUGGESTIONS REGARDING EACH LINE IN THE BUDGET

            *ENVELOPE SYSTEM – IF APPLICABLE

            *SAVINGS AS PLANNED IN BUDGET – WHERE IT COMES FROM

            *PREPARING FOR OPPORTUNITIES – SALES AND BLACK FRIDAY

            *LIST CREDIT EXPENSES THAT ARE URGENT AND NON URGENT – LOOK AT INTEREST

                        RATES – WHERE TO FOCUS IN BUDGET

*AT 1^ST MEETING: CREDIT / NOTES / LOANS / PAYMENT ACCOUNTS`

            *DISCUSSION – TELL ME ABOUT YOUR CURRENT CREDIT / LOANS / NOTES

*IMPORTANCE OF BUILDING AND SAFEGUARDING THE CREDIT RATING

            *WHAT STEPS NEED TO BE TAKEN TO REPAIR THEIR CREDIT RATING? – REVIEW FROM BOOK 

*AT 1^ST MEETING: DISCUSSION: BE READY FOR OPPORTUNITIES

            *DISCUSSION – TELL ME HOW YOU MAKING PURCHASING DECISIONS

*PUTTING YOURSELF IN A POSITION TO TAKE ADVANTAGE OF COST SAVING

            OPPORTUNITIES…..PLANNING THROUGH BUDGET

            *WHEN YOU SAVE $ BECAUSE OF DEAL THAT EXTRA MONEY GOES IN THE

                        OPPORTUNITY JAR / ACCOUNT IN PREP FOR THE NEXT DEAL

            *HOW TO SHOP:

                        1) PURCHASE PREPARATION – USING THE INTERNET

                        2) START A “BARGAIN HUNTER’S” SHEET

*AT 1^ST MEETING: REDUCING TAXES

            *DISCUSSION: DO YOU ITEMIZE? DO YOU KNOW WHAT THAT MEANS?

            1) PRE TAX PAYROLL DEDUCTIONS

            2) TAKING DEDUCTIONS THROUGH SMALL BUSINESS

*HOMEWORK (IN WORKBOOK) INCLUDES:

*GET YOUR BANK’S PUBLISHED LIST OF FEES

*CREATE LIST OF THINGS FROM THE HOUSE THAT CAN BE SOLD OR DONATED FOR TAX CREDIT

*REMOVE 1/3 OF THE LIGHT BULBS IN THE HOUSE

*LIST PLAN TO REDUCE TOTAL EXPENSES ON BUDGET BY 5%

*LIST PLAN TO REDUCE ENERGY BY 20%

*LIST PLAN TO REDUCE FOOD COSTS BY 10%

*LIST PLAN TO REDUCE TAXES (DONATION, PAYCHECK, BUSINESS)

*LIST PLAN TO REDUCE INSURANCE COSTS

*LIST ONE IDEA PER EXPENSE ON BUDGET THAT WILL REDUCE IT

*BEGIN BOOKMARKING AND ORGANIZING WEBSITES AND LIST IN WORKBOOK

            *COMPLETE THE “MY NEW BUSINESS” HOMEWORK SHEET

*LIST ANY OF YOUR CONCERNS ABOUT COACHING FOR DISCUSSION AT NEXT MEETING

*HAVE COLLECTED ALL RECEIPTS/BILLS/STATEMENTS/ FOR FOLDERS

*CREATE A LIST OF ALL YOUR ACCOUNT NUMBERS, CONTACT NUMBERS, AND

            PASSWORDS AND STORE IN A SAFE PLACE IN YOUR HOME

*ACQUIRE A SMALL CALCULATOR TO CARRY WITH YOU

*SCHEDULE SECOND MEETING FOR 2 WEEKS FROM 1^ST MEETING

*AT 2ND MEETING: FINAL PROGRAM (SPECIFIC RECOMMENDATIONS AND OUTLINE)

            *THIS WRITTEN PROPOSAL CONTAINS LISTS OF SPECIFIC INSTRUCTIONS, SUMMARIZATION

                        AND SUGGESTIONS FOR EACH OF THESE AREAS FOR MY CLIENT:

            *FINAL BUDGET

            *CREDIT REBUILDING PLAN AND TIMELINE

            *DEBT REPAYMENT PLAN AND TIMELINE

            *SAVING OF CASH (OPPORTUNITY ACCOUNT AND ROUND UP)

            *REDUCING REGULAR RECURRING COSTS (WAYS TO SAVE)    

            *TAX REDUCTION (THROUGH PAYCHECK, DONATION, SMALL BUSINESS)

                        1) WILL LIST 5 THINGS TO SELL

                        2) WILL LIST DONATIONS

                        3) WILL LIST HOW TO REORGANIZE PRE TAX DEDUCTIONS

                        4) GUIDELINE TO START BUSINESS, GET EIN, TAX ID, LICENSE

            *PRESENTATION OF LABELED FOLDERS

            *PRESENTATION OF LABELED ENVELOPES (IF APPLICABLE)

            *PRESENTATION OF A GUIDEBOOK AND A FINAL WRITTEN PROGRAM

            -WRITTEN SUMMARY ABOUT THE BUDGET

            -FOR EACH ITEM IN BUDGET THERE IS WRITTEN COMMENTS

                        THAT JUSTIFIES OR QUESTIONS THE EXPENSE – why is it good or why is it bad?

            -FOR EACH ITEM IN BUDGET THERE SHOULD BE AT LEAST ONE

                        RECOMMENDATION ON HOW TO 1) REDUCE THE EXPENSE OR 2) GET

                        MORE FROM THE EXPENSE FOR THE SAME MONEY

            -THE SUMMARY WILL CONTAIN STATEMENTS THAT ARGUE FOR OR AGAINST A PARTICULAR ITEM 

*AT 2ND MEETING: REVIEW THE FINAL GOALS AND TIMELINE

ON GOING MEETINGS:

*CONDUCT MONTHLY AND THEN QUARTERLY BILL / BUDGET AUDITS FOR CUSTOMERS 

*EACH MONTH GO THROUGH THE WHOLE BUDGET AGAIN AND LOOK FOR NEW

            OPPORTUNITIES OR CHANGES THAT NEED TO OCCUR