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[ Browse by Service Category : Topics Related to Debt Management (2) ]

Personal Finances Administration

Programs that help people develop a plan for managing their money and that assume responsibility for investing the funds and/or making the payments on the individual's behalf in accordance with the plan.

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Personal Financial Counselling

Programs that help people who are having difficulty paying their monthly bills gain control of their finances. The process generally involves analysis of the individual's income, expenses, debts, taxes and other factors to create a personal financial assessment; development of a budget for basic living expenses; and agreement on a short-term plan for repayment of creditors which may include debt consolidation or other strategies and a longer term plan for realizing personal financial goals.

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The above terms and definitions are part of the Taxonomy of Human Services, used here by permission of INFO LINE of Los Angeles.


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