PLAN AHEAD

Money sources You're responsible for paying for your retirement, but a few devices can help you along the way.

FIRST STEPS

COBRA COBRA, or the Consolidated Omnibus Budget Reconciliation Act, is among the most costly options, but it works for people with pre-existing medical conditions. - All businesses with 20 or more employees must have COBRA, which offers a continuation of group health coverage.

Throughout Hampton Roads, an abundance of organizations and agencies offers help to those facing hard times amid the economic crisis.   STATE HELP Social services

FICO Where does it come from? FICO is short for the credit score system offered by Fair Isaac Corp., the company that invented the credit risk score model most widely used by the financial industry.   What is a credit report? A credit report lists credit card accounts and loans you have, as well as how timely your payments are.

THE RIGHT BANK Cutting down on fees You should not have to pay a monthly fee for a checking account. If you do, ask your bank to waive it. If it won’t, try one of these approaches: - Ask whether the bank will waive the fee if you set up direct deposit of your paycheck. - If you have more than one account, see whether you can link them to meet minimum balance requirements.

GETTING STARTED  Spending ABCs - First, sit down and figure out where your money is going. Look at your checkbook, credit card statements, ATM slips, receipts, etc. - Next, see if your spending is in line with your goals. - Find the places where you can cut back and still be happy.