Knowing 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 email@example.com Free financial coaching is available.