Tag: Finances

Your Valuable Records

In an emergency, would your family or trusted friend know who to contact? Your bank? Your financial adviser? Your insurance company?

Free resources from K-State Research and Extension are available online for downloading and printing, including https://bookstore.ksre.ksu.edu/pubs/MF685.pdf, which can help anyone gather important information in one place. That information can be kept in a safety deposit box or other secure location and can be invaluable in emergencies.

The form includes space for family members’ names, birthdates and more, plus contact information space for key advisers, such as attorney, executor, doctor, religious adviser, insurance agents, and banker. It can also help gather basic information about vehicles and other property and credit, bank and retirement accounts.

More information about this and other resources is available at K-State Research and Extension Post Rock District offices. Links to resources also may be found on the K-State Research and Extension COVID 19 page https://www.ksre.k-state.edu/.

Source: https://www.ksre.k-state.edu/news/stories/2020/05/preserve-valuable-family-records.html

By: Brenda Langdon

Check Your Credit

One in five people have an error on at least one of their credit reports according to a study conducted by the Federal Trade Commission. When is the last time you checked your free credit report? Check your credit from once a year to once a week.  You can access your credit report from each credit reporting agency – Equifax, Experian, TransUnion@annualcreditreport.com.  Be sure to check your credit and keep errors off your account.  Especially if you are postponing bills, using more credit than usual, applying for loans.

By: Brenda Langdon

Planning Your Summer Budget

Summer is almost here!  The weather is warm, and that’s good enough for us. Start preparing your summer budget (spending plan) by taking a few minutes to plan for upcoming extra expenses.

Here are some reminders of things to include in your summer budget so you don’t go overboard.     

  • Father’s Day
  • Vacations
  • Wedding Season
  • Staycations
  • Farmers Markets
  • Sunscreen
  • Lawn Care
  • Seasonal Clothing
  • Gardening
  • Swim Lessons (Water Activities)
  • Air Conditioning (Higher utility and water bills)
  • Outdoor Barbecues
  • Back to school clothes and supplies

By: Brenda Langdon                                             

Balancing Income and Expenses

Brenda Langdon, Family Resource Management Extension Agent

The 5 C’s are a great starting point to assist people who are struggling to balance income and expenses in economic good times or bad such as trying to reduce debt, ​establish an emergency fund, save for retirement, or reach a personal financial goal.

Control – As much of the situation as you can.  Recognize that it is natural to feel the effects of stress.  Developing and following a plan can reduce stress and help you maintain control of your financial position.

Communicate – Talk with family members about available income and resources.  Decide what the family needs now, soon and in a few months.  Then make a plan together.

Be Prepared to Change – To make it through the hard times, look for ways to reduce expenses, use the things you have longer, swap items with others, trade services.

Claim benefits that are due to you – Apply for unemployment, SNAP, utility assistance, and local resources as soon as possible.

Confer with creditors – Don’t ignore the situation.  If you can’t make credit payments contact creditors and work out realistic payment schedules.

By: Brenda Langdon

State Resource List

If you are needing assistance, here is a list or state resources/agencies that may be of help to you and the service that they provide.

  • Supplemental Nutrition Assistance Program (SNAP) This program will provide nutrition benefits to supplement the food budget of low-income individuals and families helping them afford the food they need to eat. This website has links at the top of the page to apply for assistance. http://www.dcf.ks.gov/services/ees/pages/food/foodassistance.aspx
  • Special Supplemental Nutrition Program for Women, Infants and Children (WIC) Healthy foods and services to low-income pregnant and breastfeeding women, new moms, and kids under age 5. Find out how to apply by using this website http://www.kansaswic.org/families.

 

 

  • Summer Food Service Program, provides free nutritious meals and snacks to all children 18 years old and under at approved summer food service program sites when school is not in session.

 

  • Senior Nutrition and Resources, provides prepared meals for eligible seniors through various settings such as congregate meal sites, home delivery or grab and go locations. Contact area agency on aging for a site near you.

 

  • Temporary assistance for needy families (TANF), monthly financial support to qualifying low-income families with children to help them pay for basic needs, including utilities, diapers and transportation. https://cssp.kees.ks.gov/apspssp/sspNonMed.portal

 

  • Hero Relief Fund provides childcare subsidies for essential workers who have countable gross income at or below 250% of the federal poverty level. http://ksherorelief.com/

 

 

 

 

  • Evictions or Foreclosure Protection, Executive Order 20-10 issued by Governor Kelly, temporarily prohibiting certain foreclosures and evictions in Kansas due to the COVID-19 pandemic. This protection extends until May 1, 2020 or until the statewide State of Disaster Emergency expires, whichever is earlier.

By: Brenda Langdon

Plan Ways to Stretch Your Resources

Substitute

  • When grocery shopping, compare the cost per serving/unit
  • Buy generic or store brand
  • Maintain your car to avoid costly repairs or replacement
  • Shop around for interest rates and financing terms
  • Buy clothing when on sale
  • Sew at home

Conserve

  • Pay attention to dates on food packages to use the older foods first
  • Use leftovers for lunch the next day
  • Maintain vehicle and get recommended service
  • Maintain your house with minor repairs
  • Conserve energy with insulation, weather stripping, storm windows, or plastic. Close doors and windows to retain heat.
  • Keep clothes clean, follow care instructions and store clothes properly
  • Reuse and recycle

Use your own resources

  • “Brown Bag” your lunch
  • Plant a garden
  • Sell unwanted items online or through a garage sale
  • Wash car yourself

Use Community Resources

  • Use parks, trails and other recreation areas
  • See if you qualify for SNAP benefits, the TANF program or similar programs
  • Use and support school transportation
  • Use the public library
  • Participate in activities and use the services available through your local K-State Research and Extension office.

Source: https://bookstore.ksre.ksu.edu/pubs/MF3501.pdf

By: Brenda Langdon