Spenders we all are, so how do some
get a bigger bang for their dollars?

A closer look: Comparing a spender's lifestyle and a saver's lifestyle

San Diego, CA - You are an over spender if: (1) you regularly spend more than you earn, (2) all your bills are paid on time but, you have little or no savings, and (3) you routinely pay too much for things. Consumers who fall into one of these three categories may be wasting up to 30 percent of their income every month because of poor spending practices and habits.

Whether you are a part-time student worker taking home about $125 a week or a professional taking
home more than 10 times that, the all important everyday spending and life-style decisions determine,
rather quickly sometimes, how well you will be able to treat yourself when you are in your 60s, 70s
and 80s, said Paul Richard, a registered financial consultant (RFC) and executive director of the
nonprofit Institute of Consumer Financial Education (ICFE), a San Diego based nonprofit group
helping people of all ages improve their spending habits, increase their savings and use credit more

People are surprised to learn their everyday spending decisions, and especially the credit-based ones,
will do far more harm to their financial future than any investment decisions they might ever make.
The following chart represents how different life-style decisions determines how much may be saved
and, of course your life-style, a spender or saver. Which one are you?

(Note to readers - email formats may differ and the comparisons below may not be exactly lined up - use the space and delete keys to line up correctly - thank you.)

Some typical monthly expenses:

Spender's Lifestyle Spending Saver's Lifestyle Spending


Rent: $800 $550 (rents a bedroom for $250)
Utilities $65 $45 (renter pays $30)
Cable TV $85 (200+ channels) $35 (basic cable)
Telephone $40 (unlimited calling plan) $25 (basic + 5 cents per min

Total spent $990. $655 = lifestyle savings $335


Groceries $260 (ave $60 a week) $234 (ave $54 a-week uses coupons )
Restaurant lunches $84.50 (3/week @ $6.50) $56.33 (2/week @ $6.50)

Restaurant dinners $147.33 (2 a-week@$17) $73.67 (1/week @ $17)

Total spent $491.73 $364.00 = lifestyle savings $127.73


Gasoline* $147.33 (full service pumps) $136.50 (self service pumps)
Movie/snacks/park** $190.67 (2 movies per week) $138.67 (1 movie, 2 rentals/week)

Total spent $338.00 $275.17 = life-style savings $62.83

Grand Total Spent: $1819.73 $1294.17 Total lifestyle savings $525.56

* ($34 a week)
** (movie $9.50, snacks $9. and parking $3.50/ video rental $5)

NOTE: The comparison are based on the following: Single individual lives in
a two bedroom apartment @$800 per month, pays own electric and gas.
Optional expenses are telephone and cable TV.
Transportation: owns a 1999 mid size 2 door sedan, runs on 87 octane fuel.

For more information on mending your spending and switching your
life-style from a spender to a saver, plus some financial education courses,
books and videos, please send $1 and a self-addressed, 60 cent, stamped
envelope to: ICFE Resource Center PO Box 34070 San Diego, CA 92163.
OR. please visit : www.icfe.info.