How to Save a Dollar
….when you don’t have a
dime to spare?
Insert name, county, date
Why do you want to save money?
$ To pay bills & make ends meet
$ Save up for a large expense
$ Save for emergencies
$ Pay off debt
$ Other reasons
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Do you think of saving as
striking a balance?
Or is saving money
or cutting back a
burden?
If you want to save
money, make plans
to spend it!
Ideas for Saving Money
$ Claim Tax Credits
Ideas for Saving Money
$ Have financial goals.
Personal Financial Goals
1 Year
3 Years
5 Years
What – When – How much?
What’s the Price Tag for Each Goal?
Goal = Better Car
Date Needed = 3 years / 36 months
Amount Needed = $3000
Amount to Save Monthly = $83
Ideas for Saving Money
$ Get (kind of) organized
Ideas for Saving Money
$ Look for the little leaks
“Small leaks can sink
big ships.”
-- Ben Franklin
Ideas for Saving Money
$
Find fun things to do that
don’t cost much money
(shopping, TV)
Ideas for Saving Money
$ Limit Bulk Purchases
Ideas for Saving Money
$ Buy it cheaper
$ Make it last longer
$ Use it less
Ideas for Saving Money
$ Look out for credit!
Save Money by Using Less Credit
Current Credit Card Balance = $1,715.24
Minimum Payment Due = $18
Due Date = 21 days
If you make no
additional charges on
this card and each
month you pay…
You will pay off the
balance on this
statement in
about…
And you will end
up paying an
estimated total
of…
Only the minimum
payment
12 years
$2,685 (969.76 in
interest)
$55
3 years
$1,977
(Savings = $708)
Subprime Types of Credit
•
•
•
•
Pay Day Loans
Rent to Own
Car Title Loans
Pawn Shops
• Rapid Tax Refund
Anticipation Loans
400-800%
40-700%
Ideas for Saving Money
$ Look out for debit too!
Overdraft Protection?
Option to opt-in to overdraft protection:
Debit card transactions
Withdrawals from an ATM
Does not include:
 Checks
 Automatic transfers
…One more idea for
Saving Money
$ Track your spending.
How do you know how
much money you’re saving
if you don’t know how
much you’re spending?
Ways to Track Spending:
$ Notebook
$
$
$
$
$
Receipts
Checkbook or Bank Statement
Calendar
Envelope Method
Computer (free programs on the
web or from some banks)
Compare income and
expenses once a month.
If something happens and
you can’t pay bills . . .
• Act now!
• Financial Counseling
www.debtadvice.org