Manage Your Money, Lesson 2: Where Does Your Money Go?, Action Steps for Lesson 2

Ohio State University Extension/Research

Manage Your Money

Lesson 2: Where Does Your Money Go?

MYM-2-03

Action Steps for Lesson 2

Complete the following checklist of activities for Lesson 2.

Action Steps Ö Take Action Now

Check each step after you have completed it.

Continue keeping your Spending Log/Dollar Tracker

Complete Worksheet 2-A: Know What You Owe

Use the Financial Calendar (Worksheet 2-B) for dates bills are due and income is received

Summarize expected income, Worksheet 2-C

Project Fixed Expenses, Worksheet 2-D

Estimate Regular Flexible Expenses, Worksheet 2-E

Outline Occasional Expenses, Worksheet 2-F

Action Steps	Ö Take Action Now
Check each step after you have completed it. Continue keeping your Spending Log/Dollar Tracker Complete Worksheet 2-A: Know What You Owe Use the Financial Calendar (Worksheet 2-B) for dates bills are due and income is received Summarize expected income, Worksheet 2-C Project Fixed Expenses, Worksheet 2-D Estimate Regular Flexible Expenses, Worksheet 2-E Outline Occasional Expenses, Worksheet 2-F

Source

Clements, Jean, Diane E. Johnson, Kathy Michelich, Christine F. Olinsky. Know What You Owe, In Over Your Head, Bulletin 891 (Columbus, OH: Ohio State University Extension, reprinted 1/2002), pp. 3-5.

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Written by Ella Mae Bard, Extension Agent in Family & Consumer Sciences, Knox Co., Carolyn McKinney, Family Resource Management Specialist, Consumer & Textile Sciences Dept., Nancy Hudson, Northeast District Family & Consumer Sciences Specialist, and Diane Johnson, Extension Agent in Family & Consumer Sciences, Darke Co., Ohio State University Extension. Portions adapted from "Managing Your Money," prepared (1994, 1996) by Eleanor Ames, former OSU Extension Agent (Madison Co.) in Family & Consumer Sciences.

For more information about family life issues, visit http://families.osu.edu

Manage Your Money is a six-part self-study course. The lessons include:

Getting Started
Where Does Your Money Go?
Stop Spending Leaks

How Much Credit Can You Afford?
Develop Your Budget
Your Net Worth and Financial Records

Appreciation is expressed to Marjorie McCullough, Office Associate, Consumer and Textile Sciences Department, who worked with several drafts of these materials.

This material is intended only for educational purposes. Mention of a proprietary product, trademark or commercial firm in text or figures does not constitute endorsement by Ohio State University Extension and does not imply approval to the exclusion of other products, firms, or organizations. For specific, consult your financial or legal adviser.

All educational programs conducted by Ohio State University Extension are available to clientele on a nondiscriminatory basis without regard to race, color, creed, religion, sexual orientation, national origin, gender, age, disability or Vietnam-era veteran status.
Keith L. Smith, Associate Vice President for Ag. Adm. and Director, OSU Extension.
TDD No. 800-589-8292 (Ohio only) or 614-292-1868