Essential Business Matters

    Some helpful hints to
          STRETCH
         your dollar.




             From the
  ...
TABLE OF CONTENTS

INTRODUCTION                                              4

GOALS                                     ...
Refugee Resettlement Program (RRP)                              17

Food Stamps                                           ...
Thank you.




                            INTRODUCTION
                          “ARE YOU READY TO BLOOM”


   Everyone a...
Here is the place where you can write down all your short, intermediate, and long
term goals. You can also include how you...
The Basics of Budgeting

The Three W’s of Budgeting

What is a budget?

   A budget is a money plan. It is a paper or elec...
otherwise miss. Have you ever wondered if you could afford something?
      With a budget, you will never have to wonder a...
Do not make your plan to complex. The simpler you make it the easier it
   will be to understand. If you understand your b...
Items Needed to Build a Budget

Before you sit down to make your budget, you will need some tools. You can
use whatever yo...
during the month that goes toward your living expenses. Then write down the
amount you spend each week on living expenses ...
Unreimbursed medical expenses, copays
    Fitness (Yoga, Message, Gym)
          TRANSPORTATION:
              Car Payment...
This will help to keep track of when all your bills are due. Paying all your bills on
time prevents late fees. Keep a list...
3. Use credit cards to “balance” their budget
      People like to use one of their credit cards to pay off the other. Thi...
Another highlight when looking for a bank is to find one that will fulfill all of your
financial needs in one spot rather ...
•   Personal loans are used to buy usually large ticket items like for example
       vehicles and etc. When you have a pe...
WIC

W-I-C: Supplemental Nutrition Program for Women Infants and Children

The program is a federally funded program estab...
1.   Employed;
   2.   Attending school or training sessions;
   3.   Going to medical or counseling appointments for your...
•   Cardiovascular Health (CVH) Program
   •   Comprehensive Cancer Control
   •   Diabetes Prevention & Control Program
 ...
Emergency Assistance helps with money and/or services for needy children and
other household members when there is an emer...
provided is not a tell-all guide that will lead you to great wealth, it is starting point

for making sound financial deci...
choose where you want to go in life. By knowing precisely what you want to

achieve, you know where you have to concentrat...
Sources:

Dictionary.com. 200. Dictionary.com, LLC. Web.April 2009.
<http://dictionary.reference.com/>.

Garman, E. Thomas...
Glossary of Terms

Assets - items of ownership convertible into cash; total resources of a person or
business, as cash, no...
Liabilities - moneys owed; debts or pecuniary obligations

Loans - the act of lending; a grant of the temporary use of som...
Appendix

Nebraska Department of Health and Human Services Application for Benefits

The following pages included in this ...
Upcoming SlideShare
Loading in...5
×

Essential Business Matters

348
-1

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
348
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Essential Business Matters

  1. 1. Essential Business Matters Some helpful hints to STRETCH your dollar. From the Personal Finance Class at College of Saint Mary Spring, 2009 1
  2. 2. TABLE OF CONTENTS INTRODUCTION 4 GOALS 5 THE BASICS OF BUDGETING 6 The Three W’s of Budgeting 6 Rules for Successful Budgeting 7 Items Needed to Build a Budget 9 The Budget 9 Calendar 12 The Top Three Financial Missteps in Budget Planning 12 INDIVIDUAL ECONOMICS 13 What to Look for in a Bank 13 Type of Accounts 14 Benefits of Sound Banking Decisions 15 Credit Reports – Good Credit vs. Bad Credit 15 RESOURCES FROM THE STATE OF NEBRASKA HEALTH AND HUMAN SERVICES 15 Energy Assistance 15 WIC – (Women Infants and Children) 16 Aid to Dependent Children (ADC) 16 Employment First 16 Childcare Subsidy 16 2
  3. 3. Refugee Resettlement Program (RRP) 17 Food Stamps 17 Preventative Health Care 18 Medicaid/Kids Connection 18 Nebraska’s Medical Assistance Program (Medicaid) 18 Assistance to the Aged, Blind or Disabled (AABD) 18 Emergency Cash Assistance 18 NDHHS Contact Information 19 Summary 20 Sources and Contact Information 22 Glossary of Terms 23 Appendix 25 This booklet was created for you as a resource by the ladies in the Personal Finance class at College of Saint Mary. It is advised that if you have any further questions regarding information found in this booklet that you contact one of the sources listed near the back or some form of financial advisor. 3
  4. 4. Thank you. INTRODUCTION “ARE YOU READY TO BLOOM” Everyone at some point in their life has dreams and goals that they want to accomplish. Whether it is saving money to visit a restaurant at the end of the week or purchasing a car in a year. In order to achieve most of these dreams and goals, they require hard work, determination and some type of financial planning. The purpose of this book is to help organize these dreams and goals so that they can be accomplished effectively and efficiently. This book can be used as a guide and a resource to help you accomplish those dreams. We do hope that you utilize this as a valuable resource and enjoy using it as much as we enjoyed creating it. The College of Saint Mary Personal Finance Class, Spring 2009 4
  5. 5. Here is the place where you can write down all your short, intermediate, and long term goals. You can also include how you want to reach them. SHORT TERM TARGET DATE ESTIMATED GOALS COST/WEEKLY SAVINGS INTERMEDIATE TARGET DATES ESTIMATED GOALS COST/WEEKLY SAVINGS LONG TERM GOALS TARGET DATE ESTIMATED COST/WEEKLY SAVINGS 5
  6. 6. The Basics of Budgeting The Three W’s of Budgeting What is a budget? A budget is a money plan. It is a paper or electronic document used to record both planned and actual income and expenditures. Why should you budget? 1. Know what is going on Personal budgeting allows you to know exactly how much money you have. A budget is a self-education tool that shows you where your funds are going, how they are working for you, what your plans are for them and how far along you are toward reaching you goals. “Knowledge is power,” as the saying of George Eliot goes and knowing about your money is the first step toward controlling it. 2. Control A budget is the key to helping you to take charge of your finances. With a budget, you have the tools to decide exactly what is going to happen to your hard earned money—and when. You can be in control of your money, instead of having your money limit what you do. This needs repeating: you can be in control of your money, instead of letting it control you! 3. Organization Even the simplest budget divides funds into categories of expenditures and savings. Beyond that, however, budgets can provide further organization by automatically providing records of all your monetary transactions. They can also provide the foundation for a simple filing system to organize bills, receipts and financial statements. 4. Communication If you are married, have a family or share your money with someone, then having a budget that you both (or all) create together is a key to resolving personal differences about how money is spent. The budget is a communication tool to discuss the priorities for where you spend your money. 5. Take advantage of opportunities Knowing the exact state of your personal finances and being in control of them allows you to take advantage of opportunities that you might 6
  7. 7. otherwise miss. Have you ever wondered if you could afford something? With a budget, you will never have to wonder again—you will know. 6. Extra time When a person has all of their financial transactions automatically organized for tax time, for creditors or for any time a question may arise regarding how and when their money is spent, they’ll know that they are prepared and by being prepared with their finances they’ll have time to do other things. 7. Extra money This might be everyone’s favorite benefit. A budget will almost certainly produce extra money for you to do with as you wish. By budgeting, a person can avoid paying additional fees or interest to lenders by making timely payments and curtail unnecessary purchases by shopping for needs on a regular basis and every once in awhile treat themselves to the things that they may want. Savings, even small ones, can be accumulated and made to work for you. When should you budget? Every year it is best to make an annual budget. Then you can look back at it as frequently as like to see how you are doing. The more you review and update your budget the more aware you will be of your finances. Rules for Successful Budgeting 1. Keep it Simple 7
  8. 8. Do not make your plan to complex. The simpler you make it the easier it will be to understand. If you understand your budget then you will get more out of it. 2. Make it Personal Your budget should fit your personality. If you find something that works for you then go ahead and use it. The more personal your plan is the more connected you will feel to it. This makes it easier and more fun to use. 3. Keep it Flexible If your budget is not flexible then it will be hard to make changes in it. If you cannot make changes then it will be hard for you to have a successful budget. 4. Be Positive Sometimes budgeting can be complicated and not very much fun. However, if you keep a positive attitude you can build a better budget that you will get more out of. It is easy to slip and make a mistake on your budget but don’t let that get you down. Learn from your mistake, move on and maintain a positive attitude. If you follow these steps, your money will build. 8
  9. 9. Items Needed to Build a Budget Before you sit down to make your budget, you will need some tools. You can use whatever you think is necessary and whatever will be most helpful to you. Here are a few ideas: • Pay stubs • Utility bills • Receipts • Calculator • Pen/Pencil • Paper If you have all of your information and tools that you need for budgeting in the same spot it will make budgeting easier and faster. The Budget How it works: Begin by adding your monthly income. Whether you are paid weekly, every other week, bimonthly or monthly add this with any other income that you may receive 9
  10. 10. during the month that goes toward your living expenses. Then write down the amount you spend each week on living expenses and extra expenses, for example the Scooters coffee you get on your way into work, and add all of your expenses up to get a monthly amount. Finally, subtract your expenses from your income and that will give you either a surplus or a deficit. The following is a sample budget sheet that you may use or give you an idea on how to create one for yourself. Budget Sheet: CATEGORY Week 1 Week 2 Week 3 Week 4 Total INCOME: Wages and Bonuses Child Support/Alimony Miscellaneous Income Income Subtotal INCOME TAXES WITHHELD: Federal Income Tax State and Local Income Tax Social Security/Medicare Tax Income Taxes Subtotal Spendable Income EXPENSES HOME: Mortgage or rent Homeowners/Renters Insurance Property Taxes Home Repair/Maintenance/HOA Dues Home Improvement UTILITIES: Electricity Water and Sewer Natural Gas or Oil Telephone (Land line or Cell) FOOD: Groceries Eating out, lunches or snacks FAMILY OBLIGATIONS: Child Support Alimony Day Care, Babysitting HEALTH AND MEDICAL: Insurance (medical, dental, vision) 10
  11. 11. Unreimbursed medical expenses, copays Fitness (Yoga, Message, Gym) TRANSPORTATION: Car Payments Gasoline/Oil Auto Repair/Maintenance Auto Insurance Licensing/Taxes Other Transportation Expenses (tolls, bus, subway, taxis) DEBT PAYMENTS: Credit Cards Student Loans Other Loans ENTERTAINMENT/RECREATION: Cable TV/Video/Movies Computer Expense Hobbies Subscriptions and Dues Vacations PETS: Food Grooming and Boarding Veterinarian CLOTHING: INVESTMENTS AND SAVINGS: 401K or IRA Stocks/Bonds/Mutual Funds College Fund Savings Emergency Fund MISCELLANEOUS: Toiletries, Household Products Gifts/Donations Grooming (Hair, Makeup, Other) Other Miscellaneous Expenses TOTAL EXPENSES SURPLUS OR SHORTAGE (Spendable income minus total expenses) Calendar 11
  12. 12. This will help to keep track of when all your bills are due. Paying all your bills on time prevents late fees. Keep a list of all the bills that you have and then write on the calendar when they are due. Here are a few examples of bills you might have and a sample calendar: - Rent - Utilities - Credit card - Car Payment APRIL SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY 1 2 3 4 Rent Due 5 6 7 8 9 10 11 Credit Card Utilities Due Payment 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Car Payment 26 27 28 29 30 The Top 3 Financial Missteps in Budget Planning People slip up in budget planning when they do the following: 1. Fail to plan for occasional, non-monthly expenditures People often do not have a plan for the unexpected. A good budget always has room for a trip to the emergency room, a job lay off or repairs on a vehicle. 2. Underestimate how much they spend each month People often think that they do not spend as much as they actually do. This tends to keep their finances in a deficit. When first planning a budget keep track of all income and expenses in one place. This will help to eliminate the problem of overspending. 12
  13. 13. 3. Use credit cards to “balance” their budget People like to use one of their credit cards to pay off the other. This is not a good idea. In the present situation, this looks like a good idea, but in the end, a person will end up paying more because of fees and interest. Using credit cards to budget is like spending money that is not there. This can ruin your credit score, which is a very important thing. Individual Economics Helping you make informative financial decisions What to Look for in a Bank When looking for a bank, a person should look for one that will meet their needs through all stages of life. Starting as young as small children, a person can open a savings account for their child to teach the child on how to save money. The next stage would be for teens and there are teen accounts which add a checking account to the child’s savings account followed by young adults who may venture off to college and there are college accounts to help the student with college expenses, loans and building credit. Here the student may have their first experience with a credit card. As a person gets older, they may need a bank that can handle a wide variety of lending such as home or car purchase, home equity loans or recreational loans. Finally they may need a bank that has investment advisors. These advisors can help you with retirement planning. 13
  14. 14. Another highlight when looking for a bank is to find one that will fulfill all of your financial needs in one spot rather than in multiple locations. With people busy with everyday life, you need a bank where you can make one stop to handle all of your banking needs instead of going to this location for home loans, this location for student loans and another location to deposit or make a withdraw from your account. Also a bank that has multiple delivery channels for good customer service is something that would be beneficial to have. Good customer service channels can come in the following but are not limited to these alone; local branches that are close to your home, numerous ATM’s in the city you live in and if possible a state or nationwide presence and convenient phone or online banking. Finally choose a bank that convenient for you. By having a bank that is there for your convenience and available for you whenever you may need to handle your banking needs will save you time in the long run. Type of Accounts Checking accounts • Look for an account that offers you free services like: Free checks, money orders, cashiers checks, and debit cards. Discounts on other services like safe box and lower rates on loans. • Interest bearing or non bearing interest checking accounts o Interest bearing accounts means that you are paid an interest on the amount of money you have in your account o Non bearing interest accounts are the most common accounts that banks offer and the account holder does not gain interest for the money in the account Savings accounts • With a savings account, you want to find an account that will offer you a competitive rate of interest Consumer time accounts (CD’s) • With a CD you can lock up your money for a given period of time usually anywhere from 3 months or longer for a higher rate of interest. The disadvantage of CD’s is that if you need to withdraw some of the funds early there is a penalty involved. Personal lines of credit, personal loans, and credit cards • Personal lines of credit and credit cards offer you flexibility in spending funds as you need to rather than borrowing a lump sum of money all at once. You can use these products for goods and services at a variety of places. Repayment begins when you start advancing funds and is usually a percentage of the amount borrowed against a line of credit plus interest. 14
  15. 15. • Personal loans are used to buy usually large ticket items like for example vehicles and etc. When you have a personal loan you borrow a lump sum all at once and repayment begins the following month for X amount of dollars for a certain length of time. Benefits of Sound Business Decisions Making sound business decisions will enable you to save money by making wise purchases rather than compulsive buying which is costly. You will be able to save money because you did not use your disposable income for other things rather than saving money. By spending wisely you will not be using the income you need to save to pay your bills on time making it easier to borrow money because you have not damaged your credit. Doing the aforementioned things will ultimately enable you to have a strong relationship with your bank and personal banker. This will also allow additional opportunities that the bank will have available to you because you have maintained good credit. Credit Reports – Good Credit vs. Bad Credit Good Credit – By maintaining good credit you will be able to borrow money. The money you borrowed will usually have a lower interest rate and more flexible terms because of good credit. Maintaining your credit will also help you get better jobs because some employers check credit in their selection process when hiring new team members. Bad Credit – Bad credit effect people in many ways. If you’re able to borrow money the loan you have will most likely have a higher interest rates sometimes between 18 – 30%. When borrowing the money to purchase cars or homes many times with bad credit you will have to have a larger down payment. Bad credit can also affect the process of opening bank accounts. Many times the bank account you’re able to open will have service fees because of increased risk to the bank. In some instances the bank may refuse to open an account for you altogether because of bad credit. Bad credit takes 7 – 10 years to come off your credit report and can affect job opportunities as mentioned before. RESOURCES FROM THE STATE OF NEBRASKA DEPARTMENT OF HEALTH AND HUMAN SERVICES Energy Assistance The Nebraska Low Income Energy Assistance Program (LIHEAP) helps people with limited incomes offset the cost of heating and cooling their homes. The program will partially pay the cost of electricity, fuel oil, gas, coal, wood, kerosene, propane, or other fuel source. 15
  16. 16. WIC W-I-C: Supplemental Nutrition Program for Women Infants and Children The program is a federally funded program established to improve nutrition in pregnancy and early childhood. WIC serves pregnant and postpartum women, infants, and children under age five that are considered at nutritional risk WIC provides services at no cost to clients including: • Nutrition and health education • Breastfeeding education, promotion, and support • Supplemental foods • Referrals for other services that may be needed Aid to Dependent Children (ADC) The ADC Program provides money payments and/or medical coverage to eligible parents and dependent children age 18 or younger who qualify because the family has little or no income. Participation in Employment First may be required. Employment First Employment First (EF) is the name of Nebraska’s welfare reform program. The goal of EF is to help families achieve economic self-sufficiency through training, education, and employment preparation. EF is designed to assist families through the transition from welfare to the work force Childcare subsidy The Childcare subsidy program assists eligible parents and caretakers in paying for the cost of child care while they work, attend employment-related training or school, or participate in another approved activity. Based on their income the family may be responsible to pay for a portion of the cost. Family 2 3 4 5 6 7 8+ Size Maximum Gross $1,400 $1,760 $2,120 $2,480 $2,840 $3,200 $3,560 Monthly Income In order to qualify for assistance, you must need child care because you're: 16
  17. 17. 1. Employed; 2. Attending school or training sessions; 3. Going to medical or counseling appointments for yourself or another child; 4. Incapacitated (must be verified by a physician). If there are two parents in the family, both parents must be participating in one of the activities listed above. Refugee Resettlement Program (RRP) The RRP may provide financial and medical assistance to persons who are not eligible for other programs to achieve economic self-sufficiency. Assistance may be available to single adults or childless couples in the first 8 months after their arrival in the United States. Food Stamps The FSP assists households with limited assets and income to buy the food they need for good health. Households qualify for Food Stamp benefits based on available household assets, income and certain expenses. If the household is eligible, Food Stamp benefits are placed on an Electronic Benefits Transfer (EBT) card for the household to buy food. Food Stamp Program Guidelines – April 1, 2009 – September 30, 2009 Maximum Food Stamp Allotments Household Size Maximum Allotment 1 $200.00 2 $367.00 3 $526.00 4 $668.00 5 $793.00 6 $952.00 7 $1,052.00 8 $1,202.00 Each Addl. Member plus $150.00 Preventative Health Care 17
  18. 18. • Cardiovascular Health (CVH) Program • Comprehensive Cancer Control • Diabetes Prevention & Control Program • Infectious Disease Prevention and Care o Hepatitis o HIV Prevention o Tuberculosis Program o Ryan White Part B Program o STD Control Program o HOPWA o HIV Surveillance • Injury Prevention & Control Program • Nutrition & Activity for Health • Preventive Health/Health Services (PHHS) Block Grant • Renal Program • Tobacco Free Nebraska Program Medicaid/Kids Connection Kids Connection (KC) Children under 19 years who are not covered by health insurance may be found eligible for KC, a Medicaid program for qualified uninsured children. Nebraska’s Medical Assistance Program (Medicaid) This is assistance that can help pay for certain health care services for eligible families and individuals which include the following: • Parent(s) with dependent minor children; • Children under 19 years of age; • Pregnant women; Assistance to the Aged, Blind, or Disabled (AABD) The AABD Program provides money payments and/or medical coverage to individuals or couples who: • Are age 65 or older • Have been determined to be permanently and totally disabled or permanently and totally blind; • Have a temporary disability that will last at least 6 months; Emergency Cash Assistance: 18
  19. 19. Emergency Assistance helps with money and/or services for needy children and other household members when there is an emergency. The program helps when the situation is threatening to the health or well-being of an eligible child and family. To be eligible for emergency assistance a family must have gross countable income less than the following: Family 1 2 3 4 5 6 7 8 9 10 Size Income $860 $1,060 $1,260 $1,462 $1,661 $1,861 $2,063 $2,263 $2,462 $2,662 Payment may be made for: 1. Rent or mortgage payments, 2. Home furnishings, 3. Emergency non-food items, such as toilet paper and cleaning supplies, 4. Emergency food, 5. Emergency clothing, 6. Moving costs, 7. Transportation, 8. Emergency special diets, 9. Medical payments, or 10. Emergency telephone installation Contact Information: • Main Switchboard - 402-471-3121 • Physical Address 301 Centennial Mall South, Lincoln, Nebraska • Mailing Address Nebraska Department of Health & Human Services P.O. Box 95026, Lincoln, Nebraska 68509-5026 Essential Business Matters Summary The information presented in this packet can be of great value to those who choose to utilize the information presented in it. Though the information 19
  20. 20. provided is not a tell-all guide that will lead you to great wealth, it is starting point for making sound financial decisions. Setting goals, budgeting, resources, etc. - all the information provided will put you on the right track for success. “Remember that budgeting is a tool that can both reveal problem spending areas and help fine-tune your cash flow. The mere process of gathering information to begin or maintain a budget can help you control your spending and free cash to save, invest, or pay off debt.” (http://ourworld.compuserve.com/homepages/Bonehead_Finance/bone4c_b.htm) When you are ready to choose your banking institution, keep in mind that the fastest rising concern among customers is the ever-increasing bank fees. Compare minimum balances to open and maintain accounts without paying fees. Also inquire about linking accounts or "relationship banking," as it is sometimes called, where you benefit from having several accounts at one bank, thus eliminating the need to have a specific balance in each individual account. Another concern is identity theft, which still limits the number of people who do their banking online. The convenience of ATM machines is also a major concern when selecting a bank. Finally, location means a lot. The convenience of a bank is important unless you are primarily banking online, in which case you can look for a lower rate from a bank that may be located across town (http://www.allbusiness.com/personal-finance/2451-1.html). Last, but not least, the most important first step is goal setting. This is a power process for thinking about your ideal future and for motivating yourself to turn this vision of the future into reality. The process of setting goals helps you 20
  21. 21. choose where you want to go in life. By knowing precisely what you want to achieve, you know where you have to concentrate your efforts. You'll also quickly spot the distractions that would otherwise lure you from your course. More than this, properly-set goals can be incredibly motivating, and as you get into the habit of setting and achieving goals, you'll find that your self-confidence builds fast (http://www.mindtools.com/page6.html). Anonymous Encouragement Quote: "When you feel like giving up, remember why you held on for so long in the first place." ~ Unknown 21
  22. 22. Sources: Dictionary.com. 200. Dictionary.com, LLC. Web.April 2009. <http://dictionary.reference.com/>. Garman, E. Thomas, and Raymond Forgue. Personal Finance . 9th ed. Boston: Houghton Mifflin Company, 2008. Print. Google Images. 2009. April 2009 Mouw, Dan. Personal interview. 06 April 2009. Interview. Nebraska. Department of Health and Human Services.Lincoln: GPO, 2007. Web. <http://www.hhs.state.ne.us/>. "Why Budget?." 2008. Tulip Tree Press. April 2009 <http://www.tuliptreepress.com/default.htm>. Contact Information: Nebraska Department of Health and Human Services Physical Address 301 Centennial Mall South Lincoln, Nebraska Mailing Address PO Box 95026 Lincoln, NE 68509-5026 Main Switchboard (402) 471- 3121 Dan Mouw, Branch Manager Physical Address Wells Fargo Bank 3536 Comstock Ave Bellevue, NE 68123 Main Phone (402) 293-2751 22
  23. 23. Glossary of Terms Assets - items of ownership convertible into cash; total resources of a person or business, as cash, notes and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate Bank - an institution for receiving, lending, exchanging, and safeguarding money and, in some cases, issuing notes and transacting other financial business. Budget - an estimate, often itemized, of expected income and expense for a given period in the future. Certificate of deposit - a written acknowledgment of a bank that it has received from the person named a specified sum of money as a deposit, often for a fixed term at a specified interest rate. Checking account - a bank account in which checks may be written against amounts on deposit. Credit - confidence in a purchaser's ability and intention to pay, displayed by entrusting the buyer with goods or services without immediate payment. Credit report - a detailed report of an individual's credit history prepared by a credit bureau and used by a lender to in determining a loan applicant's creditworthiness Credit score - a numerical expression based on a statistical analysis of a person's credit files, to represent the creditworthiness of that person Deficit - the amount by which expenditures or liabilities exceed income or assets; a lack or shortage; deficiency Deposit - money placed in a bank account or an instance of placing money in a bank account Dreams - an aspiration; goal; aim Expenditures - the act of expending something, esp. funds; disbursement; consumption Goals - the result or achievement toward which effort is directed; aim; end Interest - such a sum expressed as a percentage of money borrowed to be paid over a given period, usually one year; sum paid or charged for the use of money or for borrowing money 23
  24. 24. Liabilities - moneys owed; debts or pecuniary obligations Loans - the act of lending; a grant of the temporary use of something Savings - the amount left over when the cost of a person's consumer expenditure is subtracted from the amount of disposable income that he or she earns in a given period of time. Security - freedom from financial cares or from want Surplus - the excess of assets over liabilities accumulated throughout the existence of a business, excepting assets against which stock certificates have been issued; excess of net worth over capital-stock value. Withdrawal - Removing funds from an account, plan, pension or trust. In some cases, conditions must be met in order to withdraw funds without penalization. There are two ways to withdraw money: in cash or in kind. 24
  25. 25. Appendix Nebraska Department of Health and Human Services Application for Benefits The following pages included in this booklet are a copy of the Nebraska Department of Health and Human Services Application for Benefits, which can be located at the Official Nebraska Government – Nebraska Department of Health and Human Services website. The web address is as follows: http://www.hhss.ne.gov/med/phicf.htm This is located in the first box under the heading Appendices. It can also be located at the following address: http://www.dhhs.ne.gov/fia/EA-117.pdf 25

×