Money problems affect us all, no matter how much or how little we have. That's why financial planning is so important. It's hard to think about the future when pay day is a week away and the checkbook is empty. You can make your money stretch further if you learn to manage it carefully.

Credit Card Debt	$ Select One 0 1 - 2,499 2,500 - 4,999 5,000 - 7,499 7,500 - 9,999 10,000 - 12,499 12,500 - 14,999 15,000 - 19,999 20,000 - 29,999 30,000 - 39,999 40,000 - 49,999 50000+
Other Unsecured Debt	$ Select One 0 1 - 2,499 2,500 - 4,999 5,000 - 7,499 7,500 - 9,999 10,000 - 12,499 12,500 - 14,999 15,000 - 19,999 20,000 - 29,999 30,000 - 39,999 40,000 - 49,999 50000+
Number of Creditors	Select One 2 3 4+
Status of Bill Payments	Select One Up to Date About to Fall Behind 1 Month Behind 2 or More Months Behind
I want to	Select One Eliminate My Debt Consolidate My Debt Seek Advice
Own a Home?	Yes  No

You can make your money stretch if you:

• Know what you want to do with your money.
• Know where your money goes.
• Know how to keep your money longer.
• Plan your spending in advance.
• Know and keep within your credit limits

That's what this and the next five lessons of Managing Your Money will help you do if you follow through with each of the lessons.

What's Important to You?

Why do you spend your money the way you do? If ten people were given a $100 bill, they would most likely spend it in entirely different ways. Why? Because people are different and value different things. The deep rooted beliefs you have about what is desirable and good are known as values. Values grow from personal experiences. You have, and will continue to make choices based on your values. Values are not necessarily right or wrong; they express what is most important to you.

Families set goals based on their values. A major reason why many couples argue about money often involves differeing values and goals between partners.

Try This Activity

Read over the list below. Put a "1" beside the things that are MOST important to you. Put a "2" by the things you consider somewhat important and a "3" by things that are not important to you. After you've completed the list, ask your partner to do the same.

_____ religion

_____ education

_____ vacation

_____ saving money

_____ our own business

_____ jewelry

_____ family

_____ health

_____ cultural events

_____ sports

_____ job success

_____ food

_____ insurance

_____ lots of money

_____ friends

_____ new car

_____ pay off debts

_____ clothes

_____ entertainment

_____ boat

_____ other?

Now that both you and your partner have completed the list, take some time and compare.

Do you both value the same things? Do you want more new clothing when your partner would prefer to go on a fishing trip?

It's hard enough for one person to decide which is more important, but even harder for two people to agree on the same things.

Do you and your partner agree on your spending values? Are you spending money on the things that are really important to both you and your family? Take some time to compare your actual spending to your rated priorities to see if they really do match.