Given how much the cost of college increases over time, saving for your child’s future education may seem like a drop in the bucket. It is true that U.S. households use a variety of sources of money beyond savings to fund their children’s education, but saving for college plays a special role in helping pay […]
Families interested in saving for college have a variety of options over where to save their money, maybe too many options. This page describes some of common options and provides links for more information. The information on this page is provided for educational purposes only and does not imply an endorsement of any specific financial […]
Managing Your Personal Finances in Tough Times is designed to share trusted resources used or developed by UW-Madison Division of Extension Financial Education professionals. It is designed to help people make sound financial choices in tough times. All materials are free for personal use. Extension financial educators who can help you find resources and come […]
When your income drops, the paychecks may stop coming, but the bills don’t. You’re legally obligated to pay all debt, but when you don’t have enough money to cover your monthly expenses and pay your creditors the minimum amount due, you face some tough decisions. If you owe a large amount of money and your […]
You hate to let a temporary financial setback impact your good standing with your creditors and lower your credit score for years to come. If you find that money is tight and you won’t be able to keep up with bills, take action right away. Not all creditors will accept payment plans, but they’ll be […]
Sometimes people lose income due to having an illness or accident that has lasting effects. This section provides information and resources to explore for Social Security disability benefits or supplemental income. Social Security Disability Benefits To qualify for Social Security disability benefits, a person must first have worked in jobs covered by Social Security. See […]
There are steps you can take to get a handle on your finances – and your financial stress. The very first step is to figure out if your income covers all of your current expenses. An increase in expenses or a drop in income usually means a change in lifestyle. The sooner you look at […]
Sometimes a household’s income drops suddenly because of a job layoff, an illness or death, or a divorce. It’s natural to feel shocked or panicked or to want to ignore the situation. Whatever the cause, the best thing you can do is to figure out if your new income covers all of your current expenses. […]
We often hear that people are “resilient.” They manage to not only get through tough times but end up actually stronger than they were before their troubles began. While it may sound a little trite, research actually has found that individuals and families can indeed be resilient. When confronting stressful challenges, many do have the […]
Talking with Your Family about Financial Difficulties A drop in income, whether it’s due to being laid off from a job, a drop in hours, or a decrease in income from investments is a scary and unsettling situation for both adults and children. It is important to talk through the situation with family members as […]
When Your Monthly Budget Needs a Tune Up Whether it’s due to a drop in income, a big unexpected expense, or the cost of everyday living overtaking your paycheck, there are steps you can take to get a handle on your finances – and your financial stress. The very first step is to figure out […]
When Your Income Drops Sometimes a household’s income drops suddenly because of a job layoff, an illness or death, or a divorce. It’s natural to feel shocked or panicked or to want to ignore the situation. Whatever the cause, the best thing you can do is to figure out if your new income covers all […]
