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By Mary HightowerU of A System Division of AgricultureMarch 25, 2016
Fast facts:
(436 words)
LITTLE ROCK – About 40 percent of consumers have trouble making ends meet some months, but a “crash budget” can help get finances back on track, said Laura Hendrix, an extension personal finance expert for the University of Arkansas System Division of Agriculture.
“That’s a troubling statistic from the Financial Industry Regulatory Authority – that so many consumers have trouble on a month-to-month basis,” Hendrix said. “However, a crash budget can help those consumers eliminate all unnecessary spending for a short time to help get back in black.”
She offers five quick tips for crash budgeting:
“Entertainment spending is a great example,” she said. “Rent a DVD instead of going to the movie theater or borrow a movie for free from your local library. Look for free community events. Play board games at home. Visit local parks and recreation areas.”
The Cooperative Extension Service is your source for reliable, research-based information to improve quality of life. Discover the latest recommendations for creating a spending plan, managing credit, building your savings and investing for the future. Learn more at www.uaex.uada.edu/life-skills-wellness/personal-finance.
The University of Arkansas System Division of Agriculture offers all its Extension and Research programs to all eligible persons regardless of race, color, sex, gender identity, sexual orientation, national origin, religion, age, disability, marital or veteran status, genetic information, or any other legally protected status, and is an Affirmative Action/Equal Opportunity Employer.
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Media Contact: Mary HightowerDir. of Communication ServicesU of A Division of AgricultureCooperative Extension Service(501) 671-2126mhightower@uada.edu
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