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ICFE eNEWS #16-04 - February 4th 2016

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 practices:

  1. Create a plan of action to make the necessary changes.
  2. Construct a cash-flow sheet showing income and outgo.
  3. Set up and implement a monthly spending-plan.
  4. Discontinue all use of credit cards.
  5. Collect cash purchase receipts.
  6. Review insurance coverages for duplication.
  7. Begin saving one dollar-a-day and all pocket change, every day.
  8. Seek lower cost alternatives to spending, such as rentals, reconditioned products.
  9. Utilizing cents-off coupons and mail in for rebates.
  10. Wait for the sales. Comparison shopping can save more than 50 percent.
  11. Take advantage of seconds, rebuilt and used items where practical.
  12. Start doing things for yourself that others were paid to do previously.
  13. Have meetings on improving spending with family members.
  14. 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 shopping trips.

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 overspending.

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 finances.

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 info@militarysaves.org.

Paul S Richard PhotoICFE eNEWS is available FREE upon request by visiting our Web site and filling out the contact form, and selecting "Yes" for "Add to Mailing List. 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: StudentDebtHelp.org

Sent by:

Paul S. Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation).  The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. 
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org).  CASDRAP disbanded in 2010, shortly after the web site project was completed.  In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.

The ICFE is also an on-line help for consumers who spend too much.  ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org.  Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G,  a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.

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