Success Stories
Citizens Bank Money Organizer Profiles: Shaun
Profile: Shaun, graphic designer.
Goal: To budget and save for graduate school.
Situation: Shaun is a graphic designer at a small marketing
firm. Although he has worked for three years since graduating from college
and his current salary is $48,000, Shaun has no budget and no savings. Recently,
he decided that he wanted to go to graduate school on nights and weekends while
continuing to work. He would like to save at least one semester’s tuition
before beginning.
Actions: Shaun went to the Citizens Bank website and filled
out the online Budget Planner. He then called 1-888-860-4700
and enrolled in Money Organizer.
|
Category
|
Amount
|
Category
|
Amount
|
|
Monthly Income (Shaun’s monthly take home pay after taxes)
|
$2,950
|
Monthly Income (Shaun’s monthly take home pay after taxes)
|
$2,950
|
|
|
|
|
|
|
BILLS/EXPENSES
|
|
BILLS
|
|
|
Rent
|
$950
|
Rent
|
$950
|
|
Utilities (electricity, heat, internet)
|
$250
|
Utilities (electricity, heat, internet)
|
$250
|
|
Cell Phone plan
|
$140
|
Cell Phone plan
|
$140
|
|
College Loan Repayment
|
$200
|
College Loan Repayment
|
$200
|
|
Other
|
$1,410
|
Cable TV
|
$90
|
|
|
|
TOTAL
|
$1,630
|
|
|
|
|
|
|
|
|
SPEND
|
|
|
|
|
Entertainment/restaurants/clothes
|
$340
|
|
|
|
Groceries
|
$380
|
|
|
|
Travel
|
$200
|
|
|
|
TOTAL
|
$920
|
|
|
|
|
|
|
TOTAL BILLS AND EXPENSES
|
$2,950
|
TOTAL BILLS AND EXPENSES
|
$2,550
|
|
|
|
|
|
Results: Using Money Organizer to create a budget and start saving,
Shaun was able to prioritize his spending and save for graduate school. If
you think Money Organizer could help you, complete a Budget
Planner, either online or with a Citizens Banking Specialist, and bring
it to a participating branch or call 1-888-860-4700.
Citizens Bank Money Organizer Profiles: Doug & Linda
Profile: Doug & Linda G., schoolteacher and unemployed
paralegal.
Goal: To stop overspending in order to pay down debt.
Situation: Doug is a third-year high school teacher and coach.
Linda is a paralegal who was recently laid-off. Together, they had a combined yearly
income of $68,500. Doug and Linda often used their credit card for extras and always
thought they would pay it off later. Doug’s salary alone is not enough to
live as they had before and cover credit card payments. Recently they received overdraft
and late fees. They needed to get control while paying off their debt.
Actions: Doug went to a Citizens Bank branch and, with the
help of a Citizens Banking Specialist, filled out a Budget
Planner. Together, he and the Citizens Banking Specialist set up his
Money Organizer account.
|
Category
|
Amount
|
Category
|
Amount
|
|
Monthly Income (Doug’s salary & Linda’s unemployment benefits)
|
$2,360 after taxes
|
Monthly Income (Doug’s salary & Linda’s unemployment benefits)
|
$2,360
|
|
|
|
|
|
|
BILLS/EXPENSES
|
|
BILLS
|
|
|
Rent
|
$700
|
Rent
|
$700
|
|
Utilities (electricity, heat, internet)
|
$200
|
Utilities (electricity, heat, internet)
|
$200
|
|
Cell Phone plans
|
$120
|
Cell Phone plans
|
$120
|
|
Credit Card Payment
|
$100
|
Auto Loan & Insurance
|
$200
|
|
Other
|
$1,640
|
Credit Card Payment
|
$200
|
|
|
|
TOTAL
|
$1,420
|
|
|
|
|
|
|
|
|
SPEND
|
|
|
|
|
Entertainment/restaurants/cable
|
$240
|
|
|
|
Groceries
|
$380
|
|
|
|
Gas
|
$180
|
|
|
|
TOTAL
|
$800
|
|
|
|
|
|
|
TOTAL BILLS AND EXPENSES
|
$2,760
|
TOTAL BILLS AND EXPENSES
|
$2,220
|
|
|
|
|
|
Results: Using Money Organizer to budget and control spending, Doug
& Linda were able to stop getting further into debt and even to start saving.
If you think Money Organizer could help you, complete a Budget
Planner, either online or with a Citizens Banking Specialist, and bring
it to a participating branch or call 1-888-860-4700.
|