How to Develop Improved Spending
Techniques and Practices
Written by Paul Richard - ICFE Executive Director

1. Write down all of the poor spending practices that you need to change.
2. Write down how you plan to bring about the changes in each area.
3. Construct a cash-flow sheet showing income and outgo.
4. Set up and implement a spending-plan.
5. Discontinue all use of credit cards.
6. Begin collecting and making notes on your cash purchase receipts.
7. Review all insurance coverage for duplication, higher deductibles, etc.
8. Begin saving one dollar-a-day (or dollars) and all pocket change, everyday.
9. Look for alternatives and substitutes to spending.
10. Start utilizing cents-off coupons and mail in for rebates.
11. Wait for the sales. Comparison shopping can save more than 50 percent.
12. Take advantage of seconds, rebuilt and used items where practical.
13. Start doing things for yourself that others were paid to do previously.
14. Have weekly meetings on improving spending with other family members.
15. 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.