Budget911 Personal Finance Crash Course


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If a budget emergency strikes, your best response is to act quickly. This course will teach you to live a more wallet-friendly lifestyle so you can weather any budget crisis. We’ll also help you find ways to save more of your income rather than spending every dime.

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Budget911 Personal Finance Crash Course

  1. 1. Budget 911 Flickr/MikeSchmid For more information go to: Credit.org/Blog/Courses
  2. 2. 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
  3. 3. Learn how toSave money &live a frugal lifestyle Flickr/MikeSchmid
  4. 4. Learn how tocategorize expenses Flickr/NewtonFreeLibrary
  5. 5. Needs vs Wants
  6. 6. needs wantsUtilities Cable TVHousing Designer clothingFood MagazinesTransportation Fast food Mobile internet
  7. 7. Anything that isnecessary for you to earn a living is a need
  8. 8. NEEDS Household ExpensesFlickr/CaptPiper
  9. 9. • Homeowners should try to refinance their mortgage • Contact a HUD-approved housing counselor • Find a less expensive home to rent NEEDS HousingFlickr/samuraislice
  10. 10. GO TO:www.HomeOwnership.orgFlickr/samuraislice
  11. 11. 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
  12. 12. 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
  13. 13. 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
  14. 14. 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
  15. 15. 12% to 25% of all food bought in the U.S. is eventually discarded. Source: GoodCooking.com
  16. 16. Americans throw out 11 BILLION POUNDSof fruit and vegetablesevery yearFlickr/Weidmaier Source: US Dept. of Agriculture
  17. 17. I Coupons! Flickr/Bob.Fornal
  18. 18. 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.
  19. 19. 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
  20. 20. Up to 60% of manufacturer’scoupons are never redeemed.
  21. 21. Budget 911BudgetBusters WANTS
  22. 22. 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
  23. 23. Entertainment WANTS • Entertainment spending is impulsive • Start an entertainment fund • Be disciplined and only go out when you can afford itFlickr/willmontague
  24. 24. Window shopping WANTS • Retail shopping is impulsive • Don’t consider it a form of entertainmentFlickr/djackmanson
  25. 25. 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
  26. 26. 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
  27. 27. • 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
  28. 28. Contact UsWant a Free Budget Analysis?Talk to a Nonprofit Personal Finance Coach 1(800) 896-0030
  29. 29. Contact Us Personal Finance Education Questions:1(800) 449-9818education@credit.org
  30. 30. /CreditDotOrg Like Us Flickr/LaughingSquid
  31. 31. YouTube.com/SpringboardOrg Watch Us