Credit Counselor how-to
How to Build a Budget with a Client in Debt
A real budget is the first step out of debt.
Quick answer
A real budget is the first step out of debt. In short: list; list; estimate, then complete the remaining steps below.
Step by step
List all income.
List fixed expenses.
Estimate variable spending.
List debts.
Find a gap.
Make a plan together.
Safety reminders for credit counselors
- Protect client financial data
- Follow consumer protection laws
- Avoid conflicts of interest
- Refer clients in crisis to help
Key terms
Debt management plan · Budget · Credit score · Credit report · Debt-to-income ratio · Collections: see the full credit counselor glossary.