Budget911 Personal Finance Crash Course

Budget 911 Flickr/MikeSchmid For more information go to: Credit.org/Blog/Courses

About us Springboard is a non-profit agency formed in 1974 by business leaders and credit grantors. Our mission is simple, yet vital: Our people improve the lives and financial well-being of individuals and families by2 providing quality financial education and counseling... We are here to help. www.Credit.org/Blog 1(800) 896-0030

Learn how toSave money &live a frugal lifestyle Flickr/MikeSchmid

Learn how tocategorize expenses Flickr/NewtonFreeLibrary

Needs vs Wants

needs wantsUtilities Cable TVHousing Designer clothingFood MagazinesTransportation Fast food Mobile internet

Anything that isnecessary for you to earn a living is a need

NEEDS Household ExpensesFlickr/CaptPiper

• Homeowners should try to reﬁnance their mortgage • Contact a HUD-approved housing counselor • Find a less expensive home to rent NEEDS HousingFlickr/samuraislice

GO TO:www.HomeOwnership.orgFlickr/samuraislice

NEEDS Make your home • Add weather stripping to doors and windows • Turn furnace thermostat down to 68° in the winter • Turn the AC down to 78° in the summer • Unplug appliances when not in use • Use a clothesline energy eﬃcientFlickr/notashamed

NEEDS Cut the cord! • Downgrade landline to local-only calling • Use Google Voice or Skype to make free calls. • Cancel extra services such as called ID, voicemail, etc. • Remove add-ons like texting and mobile web access • Cancel your cable or satellite TVFlickr/starttheday

NEEDS Trade Down• Review your insurance coverage, and raise deductibles• Talk to your insurance agent about lower rates• Trade down to a cheaper, more fuel- eﬃcient vehicle• Join a carpool

Food NEEDS Expenses • Shop at multiple stores and plan ahead • Prepare your own meals at home • Visit a Farmer’s Market • Don’t shop for food when you are hungry or tired • Pay attention to your receipts • Sign up for your store’s rewards program • Buy non-grocery items at discount retailers Flickr/J-P F

12% to 25% of all food bought in the U.S. is eventually discarded. Source: GoodCooking.com

Americans throw out 11 BILLION POUNDSof fruit and vegetablesevery yearFlickr/Weidmaier Source: US Dept. of Agriculture

I Coupons! Flickr/Bob.Fornal

Find FREE Coupons www.Credit.org/Blog/Deals www.Redplum.com www.CouponCabin.com www.Valpak.com www.SmartSource.com www.Ebates.com www.Coupons.com www.CoolSavings.com www.CouponMom.com Tip! Don’t forget to sign up for these websites’ newsletters and email coupon updates.

Find FREE Coupons • Look on the back of your receipt for coupons • Double-value manufacturer coupons • Get your coupons organized • Be ﬂexible with coupons and stock up • Look on Facebook and Twitter for coupons

Up to 60% of manufacturer’scoupons are never redeemed.

Budget 911BudgetBusters WANTS

Dining out WANTS • It is 5 times more expensive to dine out • Only dine out once a month or when you budget for itFlickr/mag3737

Entertainment WANTS • Entertainment spending is impulsive • Start an entertainment fund • Be disciplined and only go out when you can aﬀord itFlickr/willmontague

Window shopping WANTS • Retail shopping is impulsive • Don’t consider it a form of entertainmentFlickr/djackmanson

Overspending WANTS • Don’t overspend or buy things you don’t need • Sometimes buying in bulk can save you money • Keep an eye out for sales and clearancesFlickr/travisseitler

Movies WANTS • Use coupons or attend a matinee • Rent a one-day movie at a kiosk • Find a free movie on TV • Beware of the snack bar • Popcorn at the theater has a 1,275%Flickr/zero101 Flickr/scypaxpictures

• Know what is a want and a need Final• Pay your housing expenses ﬁrst Thoughts• Make your home energy eﬃcient• Reduce on utility and mobile phone costs• Trade down to a cheaper vehicle• Buy only the food you plan to eat, and don’t dine out• Use coupons to keep your grocery expenses down• Keep your “wants” spending to a minimum

Contact UsWant a Free Budget Analysis?Talk to a Nonproﬁt Personal Finance Coach 1(800) 896-0030

Contact Us Personal Finance Education Questions:1(800) 449-9818education@credit.org

/CreditDotOrg Like Us Flickr/LaughingSquid

YouTube.com/SpringboardOrg Watch Us

Budget911 Personal Finance Crash Course

by Springboard on Mar 14, 2011

Accessibility

Categories

Tags

Upload Details

Usage Rights

Statistics

Budget911 Personal Finance Crash Course — Presentation Transcript