Thanks for participating in When income decreases, but the bills don’t workshop!

Don’t wait; get started on your 5-step plan today! The material on this webpage is designed to supplement the course material and assist you throughout your journey towards financial stability.

Share your experience with this webpage and the course material by taking a short survey. The survey consists of five questions, which should take less than five minutes to complete.

Step 1: Assess the Situation

Obtain credit report 
What is currently being reported to the credit bureaus? How can I get a copy of my credit report? Download this free informational handout to get started. Or, visit for immediate access to your free credit report. 

Budget Worksheet
Use this worksheet to create a realistic monthly budget and spending plan. It is a valuable tool to guide your spending and saving decisions.

Income Worksheet
Use this income worksheet to help you determine the amount of income you can realistically count on.

Expense Tracker 
Tracking your spending is key to understanding exactly where your money is going, and plays an important part when creating a realistic budget and spending plan. Print our expense tracker and keep it handy!

Step 2: Analyze Available Resources

Earn More: Think Outside the Box
Consider the five tips for increasing your income in this helpful financial education article.

Claim Any Unclaimed Property 
Don’t leave any money on the table. Read this article to learn how to find out if you are one of the one in ten Americans that have unclaimed property waiting to be discovered.    

Take Advantage of Child Tax Credits
Get the tax credits you deserve. Read the article 10 Facts About Child Tax Credits to learn more about available credits and to see if you qualify.

Step 3: Set Priorities

Priorities Worksheet
Use this worksheet to establish financial priorities by determining real needs vs. wants.

SMART Goals Worksheet 
Use this worksheet to review the five parts of SMART goals and to establish both short, mid and long-term goals.

Step Down Your Spending Video 
Watch this two-minute how-to-video and learn how to make the most of your money by taking steps to step down your spending. 

Step 4: Create a Plan

Financial Action Plan Worksheet
Financial success begins with a plan. Use this action plan worksheet to map out a strategy for reaching your financial goals.

Debt Repayment Plan Worksheet
Don’t be overwhelmed by debt. Use this repayment worksheet to better understand your debt situation and to create a plan for payoff.

Get Inspired by Others
Watch this video of one of MMI's clients as he shares his experience about the benefits of repaying debt.   

Step 5 – Contact Your Creditors

Reduced Payment Request Letter 
Copy and paste the verbiage from this reduced payment request letter and fill in the details of your personal financial situation. Then, send the letter to inform your creditors of the changes in your income and to request a temporary hardship payment arrangement.

Credit Report Dispute Form 
Use this form to dispute inaccurate credit information with the three major credit bureaus:

Remember, MMI is here to help

If you've assessed your financial plan and find you need assistance achieving your financial goals, MMI's certified counselors are here to help. Take the next step toward financial freedom today and schedule a free counseling session: Fill out a counseling form online or call 866.515.2227.

Interested in learning more about debt repayment? Listen to successful MMI clients, Sharon and Craig, as they share their stories about overcoming debt and achieving financial freedom.