1. “Your survival guide for though times!”

2. Step 1: Pay Attention  Record Transactions  Check your balance  Read your statement  Take action if problems occur.

3.  Figure out how much income you have and find out where it is going.  Make a list of expenses that occur outside the monthly cycle: Doctors bills, taxes, home repairs, etc.  Figure out how much money you need for daily life, such as social events, food, and rent.

4.  Your plan should meet three goals: 1. Meeting ongoing expenses without incurring additional debt; 2. repaying existing debts in a timely manner; and 3. saving money for day-to-day emergencies and long-term goals.

5.  Control your short-term spending.  Save up for what you want to do, instead of throwing your money away.  Setting goals will help you spend your money wisely.

6.  Your credit score determines whether a financial institution will give you a loan and how much you’ll be charged in interest. Rule 1: Get your credit Report. Rule 2: Pay on time. Rule 3: Pay down balances. Rule 4: Keep and use old credit cards. Rule 5: Use a mix of credit cards and installment loans. Rule 6: Open new credit lines with restraint.

7.  Carrying a credit card balance.  Borrowing from a 401(k)  Making personal loans to friends and family.  Receiving payroll payments as checks, instead of direct deposit.  Relying on payday loans or other “predatory” lenders.

8. Pay attention. Create a spending plan. Turn your budget into a plan for spending, saving, and repaying debt. Set Goals. Protect yourself. Avoid unwise spending.