Budgeting and Debt Management - Introduction

Introduction to Personal Finance

An Overview for State Family Program Directors, Wing Family Program Coordinators, and Families.

BUDGETING AND DEBT MANAGEMENT

2. Budgeting and Debt Management – Introduction

Many people find they are spending more than they bring in. It’s difficult

to increase your net worth (and meet your financial goals) if you are constantly

falling behind on the income front.

After reviewing the information you entered on the Monthly Budget

Worksheet, you might have to ask some hard questions. For example:

Are you spending more on entertainment or other nonessential expenses than your income supports?
Are you spending more than you have to for necessities such as housing, an automobile, clothing, or other similar items?

The answers will probably point you to one or more possible solutions,

such as cutting back on the nonessentials or finding less expensive

alternatives. Then, you can put the money you save to work toward

meeting your goals.

Right-click on the hyperlink and choose “save target as…”

to download all

worksheets used in this course, including Worksheet 2: “Monthly

Budget Worksheet.”