Having a Spending Plan is Critical

A spending plan or budget is a plan for spending and saving family resources to meet identified goals.

money and records


What is the type of expense?

• Fixed expenses occur on a predetermined
schedule and are for a set amount (such as a car
payment or rent).

• Variable or flexible expenses usually occur on a
predetermined schedule, but may change in
amount (such as a cell phone or utility bill).

• Discretionary expenses are ones that are
totally up to you …

Keep Lines of Communication Open

Importance of Communication

• When the family is facing tough times, family
members need to lean on each other more
than usual. Talk to each other respectfully and listen to
each other’s concerns.

• Conflict and disagreements are normal, especially when family members are stressed. Give each person a chance to share his or her view of things, without interrupting or judging. Keep an open mind and listen for new information and good ideas.

• In tough times, family schedules …

Accepting Your Feelings

ACCEPTING YOUR FEELINGS

People respond to a personal crisis with many feelings: anger, anxiety, outrage, self doubt. They may be hostile – lashing out at those closest to them. Or, they may become moody and depressed. Their tension may show up as restlessness, loss of appetite, loss of interest in sex, insomnia, and feelings of apathy and exhaustion. While some of these symptoms may be unpleasant, they are normal, predictable reactions of people experiencing a loss or critical change in …

Tips for Teens: How to Contribute to Family Needs During Tough Times

If your family is going through tough times
financially, consider ways you can contribute.

Asking your parent(s) to talk with you the family budget and being
willing to take some action to help is the first
step to gaining respect and to demonstrate
responsibility as a family member.

teen with cash

Cost?savings things that you can do to help with family expenditures are:

• Turn off lights, televisions, or other
electronics when not in use.

• Take shorter showers to cut down on …

When Prices Rise: Living on Your Income

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An increase in the price of goods and services can be traumatic. When you have to pay more for things like gasoline, food and health care, other difficulties may arise, especially if you are retired and/or are living on a fixed income. Realizing that your income does not go as far as it used to, even in covering the basics, can be alarming.

An increase in the price of one essential product may trigger an increase in the price of …

Financial Security: Managing Money in Tough Times

Man looking at camera, appears to be troubled

More Americans feel added stress and anxiety about their financial future as talk of rising consumer debt, falling housing prices, rising costs of living, and declining retail sales bring up worries about the nation’s economic health.

Money is often on the minds of most Americans. In fact, according to the American Psychological Association’s 2007 Stress in America survey, money and work are two of the top sources of stress for almost 75 percent of Americans. Add to the mix headlines …