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Develop a spending plan


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Based on what you learned as you kept track of your spending and income you can develop a spending plan for future months. Your income and spending amounts must balance so that you are living within your means and saving enough money to cover unexpected expenses and to reach your goals.

The following resources may assist you in developing a spending plan:

Talk About Money

Deciding Where to Spend Your Money

Setting Up a Spending Plan”

Creating a Spending Plan


Having a Child Tasks

1. Protecting against risk
2. Updating your estate plan
3. Arranging child care
4. Revising your spending plan
5. Saving for your child’s education

Revising your spending plan Subtasks

1. Set financial goals
2. Determine your income and expenses
3. Develop a spending plan
4. Understand the income tax impacts of having a child

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