Budget911 Personal Finance Crash Course
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911 Budget Flickr/MikeSchmid For more information go to: Credit.org/Blog/Courses
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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.
Transcript of Budget911 Personal Finance Crash Course
911Budget
Flickr/MikeSchmid
For more information go to: Credit.org/Blog/Courses
About us
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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 by providing quality financial education and counseling...We are here to help.
www.Credit.org/Blog 1(800) 896-0030
Learn how to
Save money
live a frugal lifestyle&
Flickr/MikeSchmid
Learn how to
categorize expensesFlickr/NewtonFreeLibrary
Needs Wantsvs
needs wantsUtilitiesHousingFoodTransportation
Cable TVDesigner clothingMagazinesFast foodMobile internet
Anything that is necessary for you to
earn a living is a need
Household
Flickr/CaptPiper
Expenses
NEEDS
HousingNEEDS
Flickr/samuraislice
• Homeowners should try to refinance their mortgage• Contact a HUD-approved housing counselor• Find a less expensive home to rent
www.HomeOwnership.orgGO TO:
Flickr/samuraislice
Make your home
energy efficient
Flickr/notashamed
NEEDS
• 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
Cut the cord!
Flickr/starttheday
NEEDS
• 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 TV
Trade DownNEEDS
• 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
Flickr/J-P F
• 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
FoodExpenses
NEEDS
Source: GoodCooking.com
12% to 25% of all food bought in the U.S. is
eventually discarded.
Source: US Dept. of Agriculture
Americans throw out11 BILLION POUNDS
of fruit and vegetablesevery year
Flickr/Weidmaier
Flickr/Bob.Fornal
Coupons!I
FREEFind Couponswww.Credit.org/Blog/Deals
www.Redplum.comwww.CouponCabin.com
www.Valpak.comwww.SmartSource.com
www.Ebates.comwww.Coupons.com
www.CoolSavings.comwww.CouponMom.com
Tip!Don’t forget to sign up for these websites’ newsletters and email coupon updates.
• 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
FREEFind Coupons
Up to 60% of manufacturer’s
coupons are never redeemed.
WANTS
BudgetBusters
911Budget
Flickr/mag3737
Dining out
• It is 5 times more expensive to dine out• Only dine out once a month or when you budget for it
WANTS
WANTS
Flickr/willmontague
Entertainment
• Entertainment spending is impulsive• Start an entertainment fund• Be disciplined and only go out when you can afford it
Flickr/djackmanson
Window shopping
WANTS
• Retail shopping is impulsive• Don’t consider it a form of entertainment
Flickr/travisseitler
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 clearances
Flickr/zero101
Movies
Flickr/scypaxpictures
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%
FinalThoughts
• Know what is a want and a need
• Pay your housing expenses first
• 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 Us
1(800) 896-0030
Talk to a Nonprofit Personal Finance CoachWant a Free Budget Analysis?
/CreditDotOrg
Flickr/LaughingSquid
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