Shauna Barfuss, Empowering Financial Wellness Program Coordinator

​Have you ever noticed the word GRIT is in the word INTEGRITY?  It’s kind of crazy to me, I have written the word integrity countless times, but not until recently when a friend & coach pointed it out, did I realize that integrity contains GRIT! GRIT...mental toughness and courage, as Mirriam-Webster defines it. 
 
Since that moment, I have pondered on and appreciated this thought a lot: my money management integrity takes GRIT!  To look even closer... how about we dive into the word GRIT focusing on the letter R! It takes GRIT to: 

​Knowing that most everyone appreciates a little more green in their wallet, especially as we head into holiday season, I’d like to share my most recent epiphany. I was reading about “America Recycles Day”, where each year, on or near November 15, the U.S. Environmental Protection Agency (EPA) recognizes the importance and impact of recycling to our nation’s economy and environment. The EPA’s website, epa.gov, provides fantastic information about greener living, recycling and reducing waste. As I perused an infographic on the website titled “Think Green Before You Shop”, I suddenly realized that the three R’s of environmental sustainability: reduce, reuse, and recycle, could also be called the three R’s of budget sustainability.

​Needs vs wants.  Who hasn’t fought that budgeting battle?  Tough as the struggle may be, it is a fight that can be won.  The reasoning is pretty simple, right?  A need is something that is essential for you to be able to live and work.  Needs include housing, transportation and food.  Wants, on the other hand, are expenses that help you live life more comfortably. Wants include entertainment, travel, and toys.  It seems straightforward enough, but what about those gray areas where needs and wants overlap?  On occasion, our wants may seem so powerful that we can’t imagine living without them. Consider an item such as housing. Shelter is a need; however, it may become a want if you’re paying more for rent or a mortgage in order to live in a larger home or upscale area.  And clothing? That, too, is a need, but if you buy expensive brands or are buying clothing just because it’s on sale, it can quickly fall into the want category.  There are several strategies to help you win the needs vs wants battle.

GUEST CONTRIBUTOR: MELANIE DABB, USU EXTENSION ASSISTANT PROFESSOR

Receiving a windfall of cash (money that you were not planning on or expecting) can be really exciting! The temptation is probably to go on a spending spree. But, taking the time to explore other alternatives may just turn that windfall into an opportunity to build your wealth or get ahead. If you don’t need your unexpected cash influx to pay your bills, here are two important questions to ask yourself: