This booklet on financial plans, 1 in a series of 12, covers all the basic aspects of personal- and family-money management. Suitable for use by high school and college students as well as adults, this handbook presents an easy-to-use plan for managing income and reaching financial goals. The importance of planning is discussed first. The next five sections are a step-by-step guide through the processes involved in setting up and effectively managing a basic financial plan. These steps are described: (1) setting family goals, (2) determining present financial situations (income and current expenses), (3) setting up the plan (calculating the income and estimating fixed, flexible, and periodic expenses), (4) balancing the plan (reducing flexible and fixed expenses), and (5) managing the plan effectively (choosing a chief money manager, organizing materials, record keeping, bill paying, handling the money, adjusting to change, and living with inflation). Some sample forms are provided. A listing of suggested resources (organizations and books, pamphlets, and periodicals) is appended. (YLB)