ICFE eNEWS #16-04 - February 4th 2016
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AMERICA SAVES and MILITARY SAVES WEEK - February 22-27, 2016
Promoting automatic savings to help people reach their savings goals
As part of America Saves Week and Military Saves Week, scheduled for
February 22 - 27, 2016 , the ICFE is spreading the saving message
and urging its community of certificants to encourage people to make
savings automatic as part of America Saves Week. And Military Saves
Week. It is a great opportunity to help people in our community to set
a goal, make a plan, and save automatically," says the ICFE.
The ICFE's 14 tips to help anyone and everyone improve their spending
practices and increase their savings accumulation.
Do you hear 'spend, spend, spend' when your money talks? Consumers who
do, may later discover themselves in a nightmare of debt instead of
living the American dream, says the ICFE who is helping consumers become
better spenders, regular savers and wise users of credit. The ICFE
offers the following tips to help consumers improve their spending
People whose spending may need a little mending in order to come within
suggested budget and expense guidelines, often discover they are paying
too much for things because they fail to comparison shop. That,
like borrowing to meet regular expenses, is another form of
- Create a plan of action to make the necessary changes.
- Construct a cash-flow sheet showing income and outgo.
- Set up and implement a monthly spending-plan.
- Discontinue all use of credit cards.
- Collect cash purchase receipts.
- Review insurance coverages for duplication.
- Begin saving one dollar-a-day and all pocket change, every day.
- Seek lower cost alternatives to spending, such as rentals,
- Utilizing cents-off coupons and mail in for rebates.
- Wait for the sales. Comparison shopping can save more than 50
- Take advantage of seconds, rebuilt and used items where practical.
- Start doing things for yourself that others were paid to do
- Have meetings on improving spending with family members.
- Separate shopping trips (when comparing prices, value, reparability,
etc.) from spending trips (when actually making the purchase). Avoid
carrying credit cards, much cash or a checkbook on the
It is everyday spending decisions, and especially credit based spending
decisions, that will cause severe erosion of one's financial future.
For information about "Mending Spending," monthly budgeting guidelines,
visit the ICFE's Web page.
The site also includes a helpful section on
"How to set up and implement a spending-plan"
(with a one page work sheet) for personal and/or family
America Saves Week is coordinated by America Saves and the America
Savings Education Council. Military Saves Week is coordinated by The
Military Saves Team. Contact
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Please pass this eNEWS on to your peers and interested others and
invite them to subscribe for free. Also, visit the ICFE's new Web site:
Paul S. Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)
ICFE - Institute of Consumer Financial Education -