USU Ext ension Professors
Mela ie D. Jewkes, AFC®
Ama da H. Christe se , A FC ®
A drea Schmutz
Empowering Financial Wel lness Team
Vi ce za Vicari-Be tle , ChFC ®, AFC ®
® Kela Com be, AFC
Roc he lle All AFC ®
Laure Olse
McKe zie Walsh, CPFC®
Je Weller
Graphic Design
Micha el La ge he im
a ce. usu .ed u • ut ah mo atters.org
Why are you here today?
List three priorities encouraging you to give your finances greater attention.
Write down any new ideas you think about during the workshop that could help you.
One thing I'm proud of: One promise to myself:
One thing I'd like to change: One dream I have for myself: Who can help me? Date to complete:
Adapted from Consumer Financial Protection Bureau (n.d.). Your money, your goals. Building your savings? Start with small goals. https://www.consumerfinance.gov/consumer-tools/educator-tools/your-money-your-goals/booklets-talk-about-money/
Step 1: Input and total your income.
EXAMPLE:
Step 2: Input and total your expenses for each category.
EXAMPLE:
Step 3: Calculate the remaining income you have left to budget.
EXAMPLE:
(Fix ed Ex pense s)
TOTAL REMAINING
TOTAL REMAINING
SAVING / INVESTING
REMAINING
- If this is more than $0, go back and add more to categories of your choice.
- If it is less than $0, some categories need to be reduced so you are not spending more than you earn.
- If it is $0, you are done until it is time to track!
TOTAL
FIXED EXPENSES
EXPENSES
FLEXIBLE EXPENSES
TOTAL
REMAINING
SAVING / INVESTING ITEM EXPECTED ACTUAL
TOTAL
REMAINING
FINAL REMAINING
TOTAL REMAINING EXPENSES EXPECTED
PERSONAL / EXTRA DEBT / GOALS ITEM EXPECTED ACTUAL
- If this is more than $0, go back and add more to categories of your choice.
- If it is less than $0, some categories need to be reduced so you are not spending more than you earn.
- If it is $0, you are done until it is time to track!
Skills I have:
Programs I can consider:
Other options I have:
Fees I can avoid:
Plans I can change:
Utilities I can reduce:
Habits I can change:
Adapted from Consumer Financial Protection Bureau (n.d.). Your money, your goals. Building Your Savings? Start with Small Goals. https://www.consumerfinance.gov/consumer-tools/educator-tools/your-money-your-goals/booklets-talk-about-money/
Adjust W-4
Coordinate events (weddings,
Delivery services
Social media management
Run errands
Create a podcast
Become a virtual assistant
Rent out equipment (tools, baby supplies, etc.)
Create a blog
Provide yard work services
Offer photography
Create websites or domains
Tutor online/in-person
Drive for ride-sharing services
Write & self-publish a book
Rent out a parking space
Detail vehicles
Meal planning & cook at home
Buy generic brands insurance, etc.)
Shop sales & use coupons
Cut down energy usage
Reevaluate insurance policies
DIY home repairs
Limit impulse purchases
Cancel unused memberships
Use public libraries
Repair instead of replace
measures
Refurbish furniture
Use public resources or entertainment
Buy non-perishables in bulk
Grow a garden
DIY car maintenance
Step-1
Go out to eat every weekend and order appetizers, entrees, and desserts.
Step-2 Go out to eat every weekend but skip dessert.
Step-3 Eat out twice a month instead of every weekend.
Step-4 Cook at home and recreate your favorite restaurant meal.
A cash flow budget is all about tracking the timing of your income and expenses to make sure you have enough from week to week. How to use it:
STEP 1 Enter your beginning balance for the week.
STEP 2 Add all your income for that week to your starting balance and write the sum in the "total income" box.
STEP 3 Subtract all your expenses for that week from the number in the "total income" box.
STEP 4 What's left is your ending weekly balance.
STEP 5 Copy your ending balance for the week to the beginning balance of the next week. Repeat these steps for the rest of the weeks that month.
BEGINNING WEEKLY BALANCE: Your beginning weekly balance is your remaining balance from the previous week.
Add mone y you receive each week.
Subtract your weekly expenses.
Your beginning weekly balance is your remaining balance from the previous week.
Add mone y you receive each week.
Subtract your weekly expenses.
BEGINNING WEEKLY BALANCE: Your beginning weekly balance is your remaining balance from the previous week.
Add mone y you receive each week.
Subtract your weekly expenses.
I don’t know how much I spend in each category OR I overspend.
Solution: TRACK EXPENSES THROUGHOUT THE BUDGETING PERIOD
Helpful
My income is not the exact same amount each month.
Unexpected expenses or emergencies disrupt my plan.
My expenses vary every month because of irregular expected expenses (e.g., birthdays, car registration/oil changes, holidays, etc.).
Helpful Tips:
1. Start small, saving for one or two irregular expected expenses.
2. To jumpstart the account, consider using your tax return or other extra funds.
3. Be patient. It may take a few months of consistent contributions before you can use it to its full extent.
Budgeting is too strict and makes me cut out all the fun things.
Helpful Tips:
1. Open an additional account (checking or savings).
2. Automate 1%-2% of your take-home pay into this account.
3. Spend or save your personal allowance but don’t borrow against next month.
My income does not cover my expenses.
Helpful Tips:
1. Evaluate each expense on bank and credit card statements. Which purchases are easy to trim? Can you pause or cancel subscriptions or memberships to free funds?
2. If you get a large tax return, consider adjusting your W-4 withholdings to have less tax deducted each paycheck.
3. Don’t cut out fun completely; consider what you can reduce (frequency of activity) OR what you can replace with frugal activities.
4. Make a plan to increase income. Some options include: job growth, increased hours, second job, or career change.
The timing of my income and my bill due dates don’t align.
Solution: USE CASH FLOW CALENDAR
Helpful Tips:
1. Call bill companies (utilities, credit card, etc.) and ask to move due date.
2. Move non-bill expenses to different times of the pay period.
3. Utilize a bill pay/cash flow calendar to organize pay periods with due dates (pg. 16).
Life transitions upend my budget.
Solutions: GOALS, EMERGENCY SAVINGS, ADEQUATE INSURANCE, REDUCE DEBT
Helpful Tips:
1. Write down the costs of life transitions you anticipate in the next 5 years.
2. Make sure you have adequate insurance (life, home, auto, disability).
3. Create a dedicated savings account for those long-term expected life transition expenses (home, marriage, baby, auto purchase, education, etc.)
I have trouble remembering to save, track, or pay bills on time.
AUTOMATE
Helpful Tips:
1. Automate savings first by creating an automatic transfer the day you get paid, or by setting up your direct deposit to be split between a checking and savings account(s).
2. Find a way to automate all important money decisions, i.e., saving, investing, paying bills, etc.
3. Making a decision once, such as saving money, is easier than making it every month.
1. Make a list of all loans, credit cards, and other debt you have, including: the balance, interest rate, and minimum monthly payment.
2. Create a free account on PowerPay.org to calculate your debt payoff time.
3. Compare making minimum monthly payments only (paying one debt off at a time), to a PowerPay method. How much time and money will it save you to streamline debt payoff with a PowerPay method?
4. Make a plan to stop adding to your debt and commit to making at least minimum monthly payments.
5. Always apply any extra payment above the minimum required to the principal balance of the debt.
6. For motivation, think about what you can accomplish with the money you are currently spending on debt payments.
Tithing/Charity: $700
Housing: $1,800
Auto: $650
Childcare: $900
Credit Card A: $75
Credit Card B: $50
Student Loan: $275
Internet: $50
Phones: $130
Disney+: $17
Apple: $13
Anniversary: $100
TOTAL= $ 4,760
($7,700 - $4,760)
REMAINING A= $2,940
Emergency Fund: $150
Home Maintenance: $150
Vacation: $150
Revolving Savings: $70
1% Fund: $70
TOTAL= $590
($2,940 - $590)
REMAINING B = $2,350
INVESTING:
Retirement Partner A: $400
Retirement Partner B: $200
Roth IRA Partner A: $50
Roth IRA Partner B: $50
TOTAL= $700
($2,350- $700)
REMAINING C = $1,650
FLEXIBLE EXPENSES:
Gas: $150
Groceries: $600
Utilities: $112
Dining Out: $100
Kid's Allowance: $40
Pet Expenses: $60
Personal Care: $130
Date Night: $40
McDonald's Diet Coke: $10
Spending Cushion: $100
TOTAL = $1,342
($1,650 - $1,342)
REMAINING D = $308
Partner A: $50
Partner B: $50
TOTAL = $100
($308 - $100)
REMAINING E = $208
Credit Card A = $50
TOTAL = $50
($208 - $50)
REMAINING F = $158
GOALS:
Goal 1: $50
Goal 2: $50
TOTAL = $100
($158 - $100)
REMAINING G = $58 (Move to anniversary)
REMAINING = $0
FIXED EXPENSES: (updated)
Anniversary: $100 + $58 = $158
TOTAL = $4,760 = $4,818
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the U.S. Department of Agriculture, Kenneth L. White, Vice President for Extension and Agriculture, Utah State University. © Utah State University 2024 | Revised November 2025