UW-Extension Helps Families Cope With A Drop In Income

            Knowing what to do when you’re faced with an abrupt drop in income due to a layoff, salary reduction, illness or divorce can seem overwhelming.  To help people find ways to make ends meet in the midst of turbulent economic times, UW-Extension Family Living Program has developed a new financial management tool.

            A website titled “Managing Your Personal Finances in Tough Times” is designed to share proven resources used and developed by UW-Extension financial education professionals.

            The site focuses on five main areas:

• Talking with family and managing stress
• Creating a budget
• The balancing act:  Cutting expenses and Increasing Income
• Keeping up with credit and debt
• Considering foreclosure and bankruptcy

To learn more, visit http://fyi.uwex.edu/toughtimes/

For more information on managing your family finances, contact Gail Peavey, Family Living Agent, at the UW-Extension Office at 715.485.8600.