Credit/Money

Management
(Personal)
Program Objectives
 Create and maintain a balanced
budget.
 Make loan and lease decisions.
 Make knowledge-based home
and car purchasing decisions.
 Responsibly maintain debt.
 Write checks.
 Repair credit problems.

Page 2
Money Management (1 of 2)

 Financial management is perhaps

one of the most important yet
complex skills required by
everyone for daily survival.
 Lack of knowledge or
consideration in this area can
lead to catastrophic financial
problems that can take decades
to fix.

Page 3
Money Management (2 of 2)

 The lessons introduced to you in

this program will help you thrive
in today’s financial world.
 The information provided in this
program must also be supported
by your own research and or
advisement from a professional
before making financial decisions.

Page 4
Budget Considerations

Page 5
Prioritizing Your Budget (1 of 5)

 What do you do if you can pay off

your monthly household
expenses, but are having trouble
paying off your loans?
 Pay off the loan with the highest
interest rate first to save on
interest payments.
 Talk to your creditors!
– He or she may be willing to reduce
your payments or change the terms
to accommodate your situation.

Page 6
Prioritizing Your Budget (2 of 5)

 Some creditors might offer

extensions, smaller payments
over a longer period of time, or
might accept partial payments.
 Get a debt consolidation loan:
– If loan fees and interest rates are too
high, it may not be the best option
for you.
 Get professional advice; reputable
credit counselors can help you
deal with your financial problems.
 AKPK (Agensi Kaunseling dan Pengurusan
Kredit)

Page 7
Prioritizing Your Budget (3 of 5)

 Some organizations charge little

or nothing for their services.
 Be cautious of companies that
promise to fix your credit
problems right away.
 Credit repair can be a long
process that might take several
years.

Page 8
Prioritizing Your Budget (4 of 5)

 What payments do I make first if

I don’t have enough money to
pay for all my bills?
 Pay off your necessary household
expenses first, such as rent or
mortgage—avoid foreclosure or
eviction.
 Think about the health and safety
of your family when making
these types of decisions.

Page 9
Prioritizing Your Budget (5 of 5)

 Many utilities, such as:

– The telephone company, electric
company, and water company, have
terms of repayment.
 Contact your utility company for
assistance.
 Remember, everyone has
different priorities. 
– You will have to make the decisions
that are right for you.

Page 10
Budgeting Tools

www.readysetpresent.com
www.silkwebconsulting.com Page 11
Budget Box System
 The budget box is a small box
with dividers for each day of the
month.
 When you receive a bill, check
the due date and place it behind
the divider that represents the
bill’s due date.
 As you receive income, pay all
bills that are due.

Page 12
Computer System
 Create your own spreadsheet.
 Purchase personal finance software.
 Using a computer to manage your
finances is relatively simple.
 Once you set up the system,
updating information is quick and
easy.
 It is important to enter transactions
frequently to truly understand your
financial position.

Page 13
Agensi Kaunseling dan Pengurusan Kredit

 Financial education
 Financial counselling
 Debt management

 Website: www.akpk.org.my
 Toll free No.: 1800 88 2575
 Johor Bahru
Bangunan Bank Negara Malaysia
Jalan Bukit Timbalan
80720 Johor Bahru
Tel :  607 221 0533
Fax : 607 221 0535 

Page 14