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Topics. Tips for Money Management Budgeting Cost-Cutting Tips Debt Management. Tips For Money Management. Organization. Files Personal Goals Plan for Extras Put aside for Christmas or Holidays. Important Documents. Social Security Card (with correct name) Marriage Certificate
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Topics • Tips for Money Management • Budgeting • Cost-Cutting Tips • Debt Management
Organization • Files • Personal Goals • Plan for Extras • Put aside for Christmas or Holidays
Important Documents • Social Security Card (with correct name) • Marriage Certificate • Birth Certificate • Children’s Birth Certificate • Will • Power of Attorney?
Comparison Shop! • Negotiate-”can we do better?” -Furniture -Car buying -Jewelry • Day Care • Counseling Services • Health Services
Budgeting • Fixed Expenses • Variable Expenses • Savings -Do not skip this! -$5 a week X 52 weeks=$260 saved! -$20 a week X 52 weeks=$1040 saved! • Income • Bills- you can move around your due date
Maintenance and UpkeepTransportation Dollars • Tire upkeep -Pressure kept up -Wheels aligned -Rotate your tires!
Maintenance and UpkeepTransportation Dollars • Oil changes • Check your belts • Tune ups • Use the car with better gas mileage • Gasoline -$.03 X 12 gallons=$.36 -$.36 X 52 weeks= $18.72 savings
Maintenance and UpkeepTransportation Dollars Check Consumer Reports -gasoline mileage -maintenance rating -safety ratings
Shopping • Cut Coupons • Buy less expensive brands • Medication -ask a pharmacist and buy generic brands -regular Sudafed $6.00, generic $3.00
Maintenance and UpkeepHome • Turn down the heat or air when not at home. • Buy appliances with energy saving ratings • Seal leaky windows and doors • Fix leaky faucets • Check the outside vent on your dryer
General Cost-Cutting • Review your cable service • Review your telephone service -are cell phones cheaper -phone cards
General Cost-Cutting • Coffee -$1.50 a day (5 day workweek) X 52 weeks=$390 (can you fill up at home) -$3.50 a day (5 day workweek) X 52 weeks=$910 • Eating out for food -$4.00 X 3 days=$12 X 52 weeks=$624 a year
Credit Cards • Compare interest rates -Consolidate cards that have high rates • Check your credit rating! • Is your minimum payment lower than your finance charge? • How long is the promotional rate for and what is the rate afterward?
Loans • Compare interest rates • When you make a payment make sure it goes to your principal! • Balance checks • Can you afford to make an extra payment now? • Early pay-offs