Our financial program at K-State Research and Extension Sedgwick County consists of two programs at this time. We offer workshops on basic budgeting and also to help women understand the basic aspects of investing.
Budgeting is making sure that you're spending less than you're bringing in and planning for both the short-term and long-term. It's a proactive approach to managing your money.
Budgeting is an itemized summary of likely income and expenses for a given period. Typically, it is created using a spreadsheet and it provides a concrete, organized and easily understood breakdown of how much money you have coming in and how much you are spending. It's an invaluable tool to help you prioritize your spending and manage your money - no matter how much or how little you have.
Planning and monitoring your budget will help you identify wasteful expenditures, adapt quickly as your financial situation changes, and achieve your financial goals. When you actually see the breakdown of your expenses, you may be surprised by what you find; this process is essential to completely grasp how things can add up. Creating a budget will decrease your stress levels because, with a budget, you will be able to adjust or adapt to any surprises.
Workshop: Budgeting Basics - K-State Research & Extension Sedgwick County offers this two session workshop to groups, schools and churches in the community. Plan for 1-1/2 hours per session.
- Budgeting Basics - How we manage our money is an individual matter but a very important part of our lives.
- You and Your Money Quiz - Family members often have very different approaches to money management.
- Wants, Needs, Goals - Differences
- Tracking Your Spending - Use an 8-1/2" by 11" sheet to get eight spaces (by folding three times) and write the days of the week on each space.
- Does Your Money Have Wings? - Ways of saving
When Your Income Drops
Many circumstances can lead to an abrupt reduction in income: a factory layoff or cutback, loss of a job, reduced farm income, or loss of a second income from a spouse. Just the threat of any of these situations is a serious blow to individuals and families struggling to survive economically in difficult times. The fact sheets in this series can help you begin to find your way when your income drops.