MANAGING MONEY MANAGING STRESSSteps to Making Your Money Work for You

Sometimes when people are

under stress, they hate to think,

and it's the time when they most

need to think. 

~Bill Clinton

America’s Piggy Bank

In 1968, total consumer credit card debt was 8

billion. Today it tops 880 billion!

For households with existing credit card debt

the average amount of debt is $14,750.

Seventy two percent of Americans believe that

debt is a part of modern life and difficult to

avoid.

Utah is 9th in the nation for bankruptcy filings.

Financial Stress

Financial stress is the leading cause of stress in

75% of Americans.

Stress of any kind can have a detrimental effect on

personal wellbeing.

Emotional

Relationships

Physical

Mental

Unhealthy coping behavior

My Story

Laid off February 2009

Mikaela was born August 2009. We now had

two children under two!

Sold our home in November 2009 and

moved in with my in-laws.

December 2010 - Stopped ignoring the

problem and made a plan!

Step #1: Attitude and Reality Check

Accept your situation. No More Denial!

Ready to make and commit to a change. Prepare yourself mentally. Be happy with what you have.

Step #2: Make Goals

The first thing to do to get your

money working for you is to know

how you want it to work.

Decide what is important to you

now, 5 years from now, and later.

Set realistic goals

Step 3: Needs and Wants Are NOT the Same Thing!

Spend money on your needs FIRST!

Basic needs include: basic food, basic

clothing, basic shelter, basic transportation,

taxes, insurance, and savings.

Step 4: Know the Flow

Know what money comes in

You can only spend what you take home, if

you spend more you’re going into debt!

Know what money goes out

List all payments you make each month.

Track what you actually spend on food,

recreation, and other items for a week.

Multiply this number by 4 to get a

monthly total.

Step 5: Spending Plan

Create a spending plan. This will help you:

Stay out of debt

Avoid impulse spending

Save money for long-term

goals

Identify areas for potential savings

Establish financial control and direction

Give Yourself a Little Something

Pay Yourself First! Put at least 10%

of take-home pay into savings.

Savings can be a life raft in

emergencies like accidents, illness, or unemployment.

It’s recommended to have 6 months of expenses in an emergency fund.

All the Steps

AttitudeMake

SMART Goals

Needs vs.

Wants

Know the Flow

Spending Plan

Pay Yourself

First

Saving Money at the Grocery Store

What is couponing? Matching coupons with store sales, rebates,

and other offers to get the lowest possible price and to stock up on needed items.

Why coupon? To save money Give yourself a financial and emotional

boost in life.

Grocery Store Savings Cont.

Where can you find coupons?

EVERYWHERE!

Sunday newspaper Internet-Printable Coupons Coupon Mailers Magazines On the products themselves Loaded to your savings card

Getting Started

Pick one or two stores. Learn as much as you can about these stores.

Join any saving’s programs they have. Know the store’s coupon policy, if available.

Keep a copy of the policy with you.

Before You Go to the Store

Make a shopping list.

Gather any coupons you have

for the items you need.

Access the store’s weekly ad.

Combine sale items with your coupons

for the greatest savings!

At the Store

Stick to your shopping list! UNLESS…you find an amazing deal.

Look for items marked “clearance.” Have your coupons ready at checkout. Keep an eye on the cash register to

check that your coupons are deducted correctly.

Keep your receipt. Jump up and down in celebration!

Tips to Make Couponing Work For You

1. Get Organized.2. Think Smaller.3. Be on the Lookout.4. Don’t be Brand Loyal.5. Do it on Your Time.6. Take baby steps, be positive, and

remember…every coupon you use is money you

save!

Sources

Economides, Steve and Annette. America's Cheapest

Family Gets You Right on the Money. New York: Three

Rivers Press, 2007.

http://www.wellnessproposals.com/financial-fitness/financi

al-wellness-handouts/money-management-to-get-what-yo

u-want.pdf

http://www.quotegarden.com/money.html

http://www.hip2save.com/couponnewbie

http://www.youngmoney.com/credit_debt/money_manage

ment/budgeting/020809_06/

http://stress.about.com/od/financialstress/a/financialstress

.htm