Learn valuable steps in preparing for and responding to a crisis.
Each person should be able to avoid or cope with a financial crisis with proper planning and crisis avoidance techniques which will greatly reduce financial stress and help ensure that they can pay for essentials. This program will address four crisis management subjects which are planning, avoiding crises, coping with crises, and recovery. Each section will discuss several specific steps to take to avoid crises, cope with any that occur, and recover from the financial malady. The presentation will suggest percentages of the student's funds that should be held in cash, certificates of deposit (CD), mutual funds including high risk - high return programs; and encourage students to avoid unsecure investments such as penny stocks and cryptocurrency. The steps presented are foundational to any discussion of financial well - being but in this program will be focused on preparing for and responding to a crisis. We will talk about the importance of taking at least a day to relax following a financial crisis, another day to plan steps to survive it, and then on the third day carefully and methodically start to implement the steps that he or she has developed. The recovery plan which is typically developed once the crisis is under temporary control can take a week or more to write and may include input from accountants and financial planners. While the facilitator for this class would like everyone to prepare for a crisis and avoid the stress and financial ruin that is caused by it, many people will not be prepared for it and will then struggle to stay afloat. The steps presented in the coping section will help a person to meet their essential needs and stop the financial freefall until they can reach the recovery phase.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Financial Planning
- It Is Best Not to Rely on Two Full Time Incomes
- Should Not Rely on Income in Addition to Full Time Salary
- Relying on Alimony and Child Support Is Risky
- You May Not Inherit Anything
- Should Not Assume Business Gross Revenue Will Increase
- Cannot Assume New Business Will Be Successful
- Your House May Not Appreciate, Be Refinanced, or Sold
- Each Child Costs Hundreds of Thousands or Millions to Raise
- Do Not Assume You Will Make Money Investing in Real Estate
- Moving Back Home Is Not Always an Option
Avoiding Crisis
- Save and Invest at Least 20 - 25% of Gross Income
- Keep at Least 25% of Your Savings in Cash and Cds
- Invest 75% in Stocks and Mutual Funds From Established Companies
- High Risk - High Return Mutual Funds Are Okay When Young
- Avoid Penny Stocks
- Avoid Cryptocurrency
- Avoid Greed
- Have at Least 8-10 Sources of Income
- Maintain a Healthy Lifestyle
- Have Two Health Insurance Companies
- Live 20% Below Your Means
- Prepare for 2 - 3 Years of Being Unemployed or Underemployed
- Be Qualified for 4 or More Jobs
Coping With Crisis
- Take a Day to Relax
- Take a Day to Make a Plan
- Call Utilities
- COBRA
- Write a One Page Resume
- Write Down Several Ways to Make Money
- Not Waste Time at a Minimum Wage Job
- May Have to Do Dirty Work
- Call Employment Agencies That Do Not Require a Fee
- Ask for a Reasonable Wage
- Call Doctors and Arrange Payment Plans
- Call Credit Card Companies
- Avoid Getting Loans
- Use Credit Cards as Little as Possible
- Apply to Jobs You Have a Good Chance of Getting
- Make Lots and Lots of Cold Calls to Employers
- Get Unemployment Insurance
Recovery
- Once Finances Are Stable Take a Week to Make a Financial Plan
- Begin the Planning Process
- Prepare for Another Crisis
- Switch Careers If Necessary
- Get Better Health Insurance Policies
- Go to the Gym Three Times per Week
- Improve Your Diet
- Stop Drinking
- Lose Weight
- Color Your Hair
- Get a Reliable Car
- Move to a Nicer Place
- Get a Support System
- Fix Computer, Internet, and Email
- Buy a Smart Phone
- Get Certificates and Degrees
- Take Training and Personal Enrichment Classes
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More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on October 29, 2025.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Keith Warwick
Keith Warwick, P.E.
Keith Warwick, PE
- Licensed civil engineer in New York, California, and Illinois
- B.S. in civil engineering from the University of California at Davis
- Owned consulting firm since 2008
- Served on two accident investigation boards
- Led an investigation of an aircraft crash
- 35 year engineering, environmental, and construction career
- Performed 28 construction cost estimates
- Published 6 academic books and journal articles
- Life member of the American Society of Civil Engineers
- As Civil Engineering Branch Chief supervised 3 employees
- As Technical Manager supervised 17 testing staff at a construction materials testing company
- Conducted 210 environmental, safety, and health site visits
- Conducted 105 construction site visits to verify billing, schedule, and budget
- Verified that construction was acceptable at 85 buildings, most valued at over $50,000,000
- Taught 4 semester long college engineering classes as an adjunct engineering instructor
- Conducted 12 webinars on engineering, environmental, safety, and construction
- Taught 240 days of in-person OSHA, HAZWOPER, and DOT safety classes
- Tutored 360 hours on engineering and general interest subjects
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More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
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- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
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