Recovering from a Financial Setback

38mIntermediate2020-05-22

Authors

Jane Barratt

Chief Advocacy Officer at MX Technologies, Inc.

Course details

Learn how to recover from a financial setback from loss of income or loss of savings. In this course, financial expert Jane Barratt walks through how to get reorganized and prepared after you experience a financial setback. Learn how to understand your new baseline, get your expenses and income sorted and balanced, reduce the cost of your debt through consolidation and refinancing options, and prepare for the future. Plus, learn how to access state and federal benefits available within the United States.

Topics include:
Identify the impact of a financial setback.
Determine strategies for starting a recovery from a financial setback.
Define terminology used in options for recovering from a financial setback.
Recognize components of loan documents.
Explain how to focus priorities when recovering from a financial setback.

Skills covered

Personal FinanceProfessional DevelopmentOne-Off

Concepts

0. Introduction

01 - Recovering from a financial setback

1. Baselining Exactly Where You Are Financially

02 - Calculating your money position - So where do you start
03 - What is your cash flow and how to calculate it
04 - Take a close look at your expenses

2. Exploring Your Income Options

05 - Exploring your income options
06 - How do you access state and federal benefits
07 - Should you be thinking about your long-term income streams now

3. Reducing the Cost of Your Debt

08 - Understanding debt
09 - Can't pay your debts What are your options
10 - Last resort - Bankruptcy

4. Looking Differently at Your Money

11 - How much is enough
12 - Don t forget your assets

Conclusion

13 - Next steps for recovering from a financial setback