The downloadable winter 2010 Budgeting Basics, (PDF) and Budgeting Basics PowerPoint presentation.

Basic budgeting skills can be the difference between financial success and unexpected financial distress.

This is much more easily said than done. Staying organized can be one of the most difficult steps for anyone trying to keep a balanced budget.

Putting together and following a spending plan can be overwhelming at first thought— particularly if you have never worked with a budget before. However, once you have done the initial work of getting your financial situation down on paper, the monthly upkeep can be accomplished in about 20 minutes.

The goals of this chapter are:

1. To give you an understanding of how common your situation is.
2. To outline benefits and process for creating a spending plan.
3. To discuss financial priorities and goals and the steps needed to achieve them.

Take-away messages:

1. Write it down – make a budget.
2. Set priorities/ goals and keep track.
3. Talk to your family about your situation – they need to understand how financial choices are made.
4. Plan for the unexpected.
5. Take action if income drops.
6. Don’t rely on credit.