"Don't Buy Stuff" Saving Strategies How is the economy today? Signs of Recovery DOW If you look at the 90-day rate it has been heading straight up — it has not receded. Local Economy High Electric Bills Decrease in Unemployment Rates December 2009 – 12.1\% March 2010 – 11.5\%
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is the economy today?
Each time you are paid, set aside a portion of your check to deposit into a high interest savings account.
A plan to manage your money for a specified period of time.
Family size of 4
Net household income of $4,542.
90 days delinquent on their mortgage (Monthly Mortgage Payment of $1,350).
Several charge-offs & collections on their credit report.
Dry Cleaning $240
Car Payments $952
Direct TV $115
Phone & Internet $350
Car Insurance $100
Vehicle Gas $260
Progress Energy $215
Bricks Alarm $35
Misc. Expenses + $450
Mortgage $1,350 + Monthly Exp. $3,567 = $4,917
Negative Monthly Cash Flow= -$375
1. Earn more money
2. Eliminate and/or cut back on expenses
3. Debt consolidation
-Medical Reimbursement Plan (Health Care FSA)
-Dependent Care Reimbursement Plan
“Don’t buy stuff you cannot afford.”
(Tips provided by NC GreenPower)
($2,000 x .15 = $300 a month)(12 months x $300 = $3,600!)
(365 days per year x .65 =$237.25)
(3 days x $8 = $24/week)(52 weeks x $24 = $1,248)