Financial Resources

About

The UVA Faculty and Employee Assistance Program contracts with an outside firm to provide employees a free, 30 minute consultation with a financial counselor on a variety of financial issues. Consultation topics include, but are not limited to: 

• Budgeting Techniques 
• College Funding 
• Corporate Bonds 
• Credit After Bankruptcy 
• Credit Cards with Lower Interest Rates 
• Credit Repair Scams 
• Credit Reports 
• Debt Counseling 
• Divorce Planning 
• Insurance Buying Strategies 
• IRA Rollovers 
• Medicaid 
• Medicare 
• Money Market Accounts 
• Mortgages 
• Retirement Planning 
• Reverse Mortgages 
• Saving for Financial Emergencies 
• Social Security Benefits 
• Small Business Financing 
• Student Loans 
• Tax Issues 
• U.S. Savings Bonds 
• Utility Bills - Late 

Eligibility

All UVA employees and their immediate family members.

Contact

Contact FEAP for a referral to the financial counseling service: 434.243.2643

UVA FEAP Website

About

Its easy to spend too much if you don't know how much money you have or how much you have spent.  Developing a budget lets you

• track how much money you have
• know what money is coming in, when it goes out, and how much you have left
• make smart decisions about how to spend

By downloading our budget template and following the instructions below, you will be on your way toward making educated decisions about how you spend your money. Planning in advance will enable you to be thoughtful and smart about how you spend, and can identify areas where you might want to cut back on spending or where you can save some money.

As important as this is, it can be hard or confusing.  If you would like some personal help, contact Stuart Munson at scm5rw@virginia.edu or 434.243.2672; he will be happy to help you!

Instructions

Step 1 – Click on the Make A Budget form
You can fill this out on the computer or print it out and fill it in with a pencil. 

Step 2 – Complete the My income this month section 
Completing this section will tell you how much money you have to spend

• Paychecks box - Put the actual amount you took home from your last UVA paystub – in the first light blue income box on the top right of the form
• Other income box - Combine all the other money you take home from other sources, such as a second job
• Now add them together and put the total in the third white box. This is the all the money you have to spend in a month without borrowing any

Step 3 – Complete the Housing Expenses section 
Completing this section will tell you how much you need to spend each month on where you live

• Rent or mortgage box – Put the amount you pay your landlord or mortgage company each month in the first blue box
• Renter’s insurance or homeowners insurance box – If you have insurance to help you pay for things broken, stolen or destroyed where you live, or have insurance to pay you back if your house is damaged, put that amount in the second blue box 
• Utilities box – Add up all the money you pay electricity, heat, water, trash – any bill you pay monthly to keep your home running
• Internet, cable and phone box – add all these together and be sure to include the bills for the phones for everyone in the family

Step 4 – Complete the Food section 
All the money you spend in a month on food of any kind as well as cigarettes, etc.

• Groceries and household supplies – put the amount you spend at the grocery store on food, soap, shampoo, cleaning supplies, etc.
• Meals out – Include all the money you spend on fast food, food at convenience stores and ready to eat food from any location.
• Other food expenses – Include any other money you spend on anything you eat in this box – snacks you don’t buy at the grocery store, cigarettes, etc.

Step 5 – Complete the Transportation section 

• Public transportation and taxis – this section should include money you spend for Uber, buses, etc.
• Car loan – Put the amount of your car loan payment in this box.  If you think it is too high, ask about getting a lower interest loan from the UVA Credit Union
• Other transportation expenses – Any other money you spend on getting around every month should go in this box, things like money you give friends for taking you somewhere, etc.

Step 6 – Complete the Health section

• Other health expenses – any other money you spend on keeping yourself healthy every month should go in this box

Step 7 – Complete the Personal and Family section

• Money given or sent to family – this is where you include the money you give your kids or other family members regularly. If you don’t know for sure, take your best guess
• Laundry – estimate how much you pay at the laundromat if you do not do your wash at home
• Other personal or family expenses – include all the money your family pays to get their hair done or cut, nails done, etc.

Step 8 – Complete the Finance section  
All the money you spend managing money goes in in this section

• Prepaid cards and phone cards – If you already included what you pay for phone cards in the “Internet, cable and phones” box, don’t put it in here again.

Step 9 – Complete the Other section 
this is where any other money you spend regularly goes that does not fit in anywhere above

Step 10 – Add up all the numbers below where it says  “My expenses this month” and put that total in the white box across from “Total monthly expenses”.  Also put that number in the white box below it above the word “Expenses”

Step 11  - Seeing how you are doing
Take the number across from where it says “Total monthly income” at the top of the form and put the same number in the white box at the bottom of the form above where it says “Income”.  Now take away/subtract the Expenses number from the Income number. 

• If the number is positive, your family is not spending as much as everyone brings home so you have money left to spend or save
• If the number is negative, your family is spending more money you bring in and you are going in debt. If this is happening you can do a couple of things
  • Look back through your expenses and see how you are spending your money. Are there places you can spend a little less? 
  • Could members of your family contribute some money?
  • Look at your expenses and set limits on how much you want to spend in each area, think about how you want to spend that money, and when you hit that amount, stop spending.

If you would like free help doing any of these things, or help improving your credit or paying off debt, contact Stuart Munson, who will be happy to help you! Scm5rw@virginia.edu or call 434.243.2672

"Make a Budget" Template

About

UVA Community Credit Union offers a number of services to help with money management, including: 

Education Library 

A resource for online education materials, including the Home & Family Finance Resource Center and It's a Money Thing program!

Guide to Balancing Your Checkbook 

Sooner or later, anyone having a share draft/checking account learns that an essential part of managing a checkbook is balancing it. This is an easy task if kept up-to-date, but a nightmare if not. 

Steps to Creating a Budget 

Budget Blueprint encourages consumers to develop their own spending plans. This easy-to-use budget work sheet will help you see where your money is going and will help you adjust your spending where needed. The new online format allows you to input expenses and income while listing individual savings goals. It's a quick way to see where you are financially and plan for where you want to be.

Debt Reduction Strategies 

Review a list of articles, calculators, videos, and news to learn more about debt reduction strategies. 

Effective Strategies for Saving 

Review a list of articles, calculators, and news on effective strategies for saving and investing. 

Personal Financial Manager 

Central Finance is a personal financial management tool designed to allow users of UVA Community Credit Union Online Banking to manage financial accounts including checking, savings, credit cards, loans, and investments attached to multiple financial institutions all in the convenience of one safe and secure online site. 

Eligibility

Anyone who lives, works or attends school in the greater Charlottesville area may join.

Contact

Phone: 434.964.2001

Or visit the website below for branch locations

UVA Community Credit Union Website

About

Piedmont Housing Alliance counselors can help you in planning out your monthly and yearly income, expenses and savings.

They can also help you understand what is in your credit report. You need to bring a copy of your report from www.annualcreditreport.com to your first appointment or a report and FICO scores can be pulled for you for a fee of $25 per report. 

Without any expense to you, a counselor can also help you understand how to build credit. 

Contact

Fill out and submit the intake form and a counselor will contact you to get started. 

Or call: 434.817.2436

Piedmont Housing Alliance Personal Finance Resources

Here are helpful articles from the Federal Trade Commission Consumer Information (FTCCI) that may offer assistance:

• Choosing a Credit Counselor and Choosing a Debt Management Plan
• Settling Credit Card Debt
• Debt Relief or Bankruptcy
• Information on Credit and Loans

More Information about Saving, Spending, or Borrowing Money

About

UVA Community Credit Union offers products and services to help you meet your investment goals. Through Member Wealth Management, a full-service financial advisory program located at UVA Community Credit Union, members are provided with financial management services at no cost or obligation.

Contact

Phone: 434.964.2001

Or check the website below for branch locations

UVA Community Credit Union Website

About

UVA Health Patient Financial Services can help you find financial aid to cover your medical expenses, such as through UVA Financial Aid or the UVA Discount Program. Financial aid services are free. 

Eligibility

Eligibility requirements include: 

• You do not have health insurance or workers’ compensation 

• You are not negotiating a personal injury settlement with a third party that pertains to the reason you were seen 

• You do not qualify for any other financial assistance program 

Contact

Phone: 434.924.8718 or 866.320.9659

Email financialassistance@virginia.edu

UVA Health Patient Financial Services Website

About

Alliance for Interfaith Ministries (AIM) helps qualified clients stay in their homes and avoid eviction. AIM provides case management to ensure clients receive the wrap-around services necessary to support them through their crisis. 

Eligibility

The following criteria must be fulfilled in order to receive AIM Assistance: 

• Be a resident of Charlottesville or Albemarle County. 
• Normally have enough income to pay all monthly bills if it weren’t for a one-time emergency.  An emergency is an event that caused applicant to lose income or that required them to pay expenses that are above and beyond what is normal for their household. 
• Provide documentation of the specific emergency that prevents payment of the expense or bill for which they are requesting help (i.e. job termination notice, doctor’s note of medical emergency, receipt for unusual expense, etc.) 
• Provide documentation of household income. 

Contact

To apply for AIM emergency assistance, please fill out the form below and you will be called to discuss your application: 

 Assistance Form 

AIM Website

About

The Temporary Assistance for Needy Families (TANF) program provides eligible families with a monthly cash payment to meet their basic needs. The exact amount provided monthly depends on income. 

Eligibility

To be eligible for this program, the child must be:

• Under age 18, or if 18, will graduate from high school before age 19
• Going to school regularly if he is between the ages of 5 and 18
• Living with a parent or other relative
• A U.S. citizen or an eligible immigrant

Virginia's TANF program emphasize personal responsibility. Participants may be provided with services such as job skills training, work experience, job readiness training, child care assistance, transportation, and other work related expenses.

Contact

You can apply for TANF and other State of Virginia benefits on the CommonHelp website

or

in person at 1600 Fifth St, Charlottesville where someone can help you fill in the forms. 

TANF Information Website

About

The City of Charlottesville is providing grants to help lower and middle income homeowners with paying their property taxes. Homeowners who are behind on their property taxes, or who need help with their taxes, may be able to receive grants of $375 or $525 depending on applicant income.

The funds provided will be applied to the December property tax bill of qualified Charlottesville homeowners once their application is approved by the City.

Eligibility

Among eligibility requirements include:

• The assessed value must be less than $365,000 
• You must own no other home

Contact

Call 434.970.3333

Property Tax Assistance Website

About

UVA Community Credit Union offers free, non-itemized tax return preparation for households earning less than $55,000 in 2018.       

These services include:

• Preparing basic returns, including those with Health Savings Accounts (HSAs) or Marketplace Insurance Certificates (form 1095-A)*  

• "Drop off" appointments so there is no need to sit and wait while a return is prepared

Eligibility

Free, non-itemized tax return preparation is for households earning less than $55,000 in 2018. 

To be eligible for free VITA tax preparation service, in addition to the household income restrictions, your tax return cannot include the following:

• Itemized deductions requiring a Schedule A
• Self-employment income requiring a Schedule C
• Tip income
• Rental income
• Farm income
• Military income
• Adoption credits
• Foreign income
• Complicated or Advanced Schedule D (Capital Gains and Losses)

Contact

Phone: 434-964-2001, option 5

UVA Community Credit Union Tax Preparation Website

About

Cville Tax Aid provides free tax preparation assistance and promotes the use of the Earned Income Tax Credit (EITC) and other credits for eligible taxpayers.

Free tax preparation assistance for the 2019 tax season will be available January 28-April 15, 2019 through Cville Tax Aid. There will be eleven tax sites operated by the coalition in Charlottesville and Albemarle, Greene, Fluvanna, Louisa and Nelson counties. Make sure you have everything you need to file your 2018 federal income tax return by using our resources.

Eligibility

Households making less than $55,000 a year qualify for free tax filing with an IRS-certified tax preparer. 

To schedule An Appointment Contact

Phone: 434.972.1703

United Way Tax Assistance Website