Managing your personal finances in tough times

Managing your personal finances in tough timesKnowing what to do when you’re faced with an abrupt drop in income due to a layoff, salary reduction, illness or divorce can seem overwhelming. To help people find ways to make ends meet in the midst of turbulent economic times, the UW-Extension Family Living Program has developed a new financial management tool.   A website titled “Managing Your Personal Finances in Tough Times” provides  proven resources used and developed by UW-Extension financial education professionals.  The site has a variety of resources focused on five main areas:

  • Talking with family and managing stress
  • Creating a budget
  • The balancing act: cutting expenses and increasing income
  • Keeping up with credit and debt
  • Considering foreclosure and bankruptcy

To check it out, visit http://fyi.uwex.edu/toughtimes/

For more information on managing your family finances, contact Amanda Griswold, Crawford County Human Development & Relationships Educator at (608) 326-0223 or e-mail her at amanda.griswold@wisc.edu   Free financial coaching is available.