Worksheet # 1

Let's Talk About Money

Money is often a source of conflict in families. It is a difficult topic to discuss. This worksheet will help you learn more about your values and feelings about money. Each spouse should use the sheets provided and answer separately. Then take some time tocompare and discuss your answers. You will also want to include other family members in some of these discussions.

Credit Card Debt	$ Select One 0 1 - 2,499 2,500 - 4,999 5,000 - 7,499 7,500 - 9,999 10,000 - 12,499 12,500 - 14,999 15,000 - 19,999 20,000 - 29,999 30,000 - 39,999 40,000 - 49,999 50000+
Other Unsecured Debt	$ Select One 0 1 - 2,499 2,500 - 4,999 5,000 - 7,499 7,500 - 9,999 10,000 - 12,499 12,500 - 14,999 15,000 - 19,999 20,000 - 29,999 30,000 - 39,999 40,000 - 49,999 50000+
Number of Creditors	Select One 2 3 4+
Status of Bill Payments	Select One Up to Date About to Fall Behind 1 Month Behind 2 or More Months Behind
I want to	Select One Eliminate My Debt Consolidate My Debt Seek Advice
Own a Home?	Yes  No

1. You've just won $10,000 in the lottery. What will you do with the money.
   

   $________for______________ $________for__________
   $________for______________ $________for__________
   $________for______________ $________for__________
   
   

2. You have just been laid off of your job. You must make a major cut in spending. What would you cut first?
   
   
3. I'd like to see us spend more money on____________ and less money on______________.
   
   
4. Do you know how much money is spent monthly on the following?
   Rent or mortgage payment: $ ________ Groceries: $________
   Car payment: $ ________ Utilities: $________
   Entertainment: $ ________ Clothing: $________
   
   
5. What money problem is the most frequent cause of arguements?
   
   
6. What is the most foolish thing you've spent money on?
   
   
7. What is the most sensible thing you've spent money on ?
   
   
8. How do you feel about buying on credit ?
   
   

Do you agree or disagree with these statements? Circle your answer.

Worksheet # 2

Income and Expense Worksheet

Balancing Your Budget

Everyone can't use the same budget or spending plan. Your family is special and different from every other family. It has special needs, wants and resources. You should manage your money to get what you want and need and to get the most from your income. Take the time to complete each of the five steps to keeping your budget balanced.

Step # 1: Estimate Your Income

TOTAL INCOME FOR THE PLANNING PERIOD $__________________

NOTE: Your household accounts are the best sources of information for expense estimates. Adjust the figures to reflect changes that have occurred in your own situation. If you do not have a system for keeping household records, START NOW to "keep track" of your expenses so you can control unnecessary spending leaks and get more mileage out of your income. One possible system is suggested in "Keeping Track of Spending," HYG-5001-83 and also available is the 'Home Account Book.' Check the local Extension offices for copies of these materials.

Step #2: Estimate Fixed Expenses and Savings