Financial stress can come about from being in debt, low earnings, the expense of raising kids, or even being married to someone who mismanages money. Reducing your financial concerns will allow you to focus on essential areas and relax, knowing you have a plan to handle your financial situation.

 One way to reduce financial stress is to create a spending plan that aligns with your vision and keeps your financial goals on track, whether that’s paying off debt or planning for a large expense such as buying your first home or car. It’s also an easy tool to help you pay your bills when they are due and create a way to measure your progress.

Follow these 6 steps to build a spending plan:
1. Write down your financial goals.
2. Find out where your money is going; record your expenses and bills.
3. List all your sources of monthly income.
4. Know what your bills are and when they are due.
5. Determine if you’re living on what you make.
6. Develop a plan and stick to it.

If your goal is to pay off debt, use Power Pay (http://powerpay.org). Keep in mind that decluttering your finances can be helpful in targeting debt. Consider cancelling subscriptions and lowering your internet service by reducing or eliminating what you no longer use.

If you’re interested in a free money management calendar, reach out to jennyarodriguez@ufl.edu.

You can also view our class schedule on ocextension.eventbrite.com. Here you will find a class on Taking Control of Your Money.

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