How to Evaluate Financial Health

1). Your willingness to make changes in daily habits is absolutely necessary to change your financial condition.

• Spending habits. Some changes involve your actual
• Some changes involve life attitudes (i.e., teamwork, driving habits, etc.).

2). Assess your present situation.

• To help locate source of problems.
• To help realize where your money goes.

3). Determine "have to’s, "need to’s, and "want to’s.

4). Determine total "take home" income.

• How much money is coming in from all sources?
• When is the money coming in during the month?

5). Determine present expenses.

• Priorities, basic needs, standard of living.
• Cut down and cut out frills.

6). Subtract expenses from income; this will show if you are financially "right-side up" or "upside-down."

7). Record Keeping is a key element to making your budget work.

• Keep simple, but accurate and complete records.
• Will help to predict future needs and problems.

8). Set aside funds for irregular or unexpected expenses.

9). Start a Savings - Single most important element in developing financial self-sufficiency.