THE

BIG
BUDGET
BUNDLE
It’s time to take control
of your finances
Table Of Contents

Simple Steps To Save Money.....................1

Fritter Finder...........................................17

Periodic Expenses....................................19

Saving Goals Worksheet...........................20

SIMPLE STEPS
TO SAVE
MONEY
(AND IMPROVE YOUR FINANCES, TOO!)

1
Since 1955, Apprisen has
been providing counseling and
education to consumers on a
wide variety of personal finance
issues. This guide contains some
helpful answers to one of our most
frequently asked questions –

“HOW CAN I SAVE MORE MONEY?”

2
GETTING STARTED
Building a savings habit is a great way to work towards financial stability and to build
wealth. While it may seem overwhelming, you can get started today if you break it
down into individual steps.

The first question you should ask Review and track your spending for
yourself is: what do you want to a few weeks. You will be surprised
save for? Setting specific financial at what you learn! Look for ways to
goals and timelines to reach them cut back on non-essentials in order
will help you focus your saving to have money to put into your
efforts. Then determine how much savings account.
you need to save out of each
paycheck to reach that goal.

Make sure you have a “rainy day” You can set up multiple savings
fund. Developing a savings account accounts to build savings for
for emergencies will help you several goals at one time.
reduce reliance on credit cards or Your financial institution can
other costly forms of borrowing. assist you with this process.

Save automatically. Use direct

deposit from your paycheck into a
bank account and the savings will
grow painlessly. Direct deposit
offers the additional advantages
of convenience, security, and
immediate access to your money.

3
GOAL SETTING WORKSHEET
Express your goals as positive statements. Be specific and realistic.
Place your most important goals at the top of your list.

SHORT-TERM GOALS TIME FRAME

(1 Year or Less) FOR COMPLETION

i. e. Pay off credit cards 9 months

1.

2.

3.

MEDIUM-TERM GOALS TIME FRAME

(1-5 Years) FOR COMPLETION

i. e. House down payment 4 years

1.

2.

3.

LONG-TERM GOALS TIME FRAME

(5 Years or More) FOR COMPLETION

i. e. Build college fu nd 6 years

1.

2.

3.

4
PAYCHECK BY PAYCHECK BUDGET WORKSHEET
Regularly occurring bills need to be budgeted every month and assigned
to a specific paycheck. Enter the amount of your total monthly expenses
into the budget column and then break your payments out by each of
your pay periods.

EXPENSES BUDGET CHECK 1 CHECK 2 CHECK 3 CHECK 4

$ $ $ $

Mortgage/Rent
Electric
Gas
Water
Telephone
Groceries
Savings
Spending

Credit Cards

Student Loan
Car Loan 1
Car Loan 2

Insurance
Child Care
Clothes
Medical

Other

Set Aside
Amount

5
BUDGET TIPS:
• Have a written spending plan and review it frequently.

• Involve the whole family in setting goals and sticking to the budget.

• Find a regular time to pay bills and reconcile your bank account.

• Make sure your budget includes your goals. Earmarking money for
saving or paying down debt is the only way to get it done.

HOUSING NOW REVISED CLOTHING NOW REVISED

Mtg./Rent $ $ Clothing $ $
Second Mtg. Dry Cleaning
Home Equity Laundry
Household Insurance Total
Taxes
Electric TRANSPORTATION
Heat Vehicle Pymt./Lease
Water/Sewage Gas & Oil
Phone Repairs
Cell Phone Car Insurance
Cable Total
Trash
Security System FOOD
Total Groceries
Lunches Out
MISC. EXPENSES Dinner Out
Allowances Household Supplies
Barber/Beauty Toiletries
Contributions Total
Tobacco
Gifts CREDIT CARDS AND OTHER DEBTS
Entertainment
Name Balance Payment
Medication $ $
Pet Supplies
Tuition
Childcare
Lottery/Gambling Total
Newspapers
GRAND TOTAL EXPENSES
Misc./Rental Pymt.
Savings
Other INCOME
Total Take Home Pay (after taxes) $
Other
PROTECTION Total
Life Insurance
Medical Insurance
Total

6
SET-ASIDE FUND PLANNING FOR EXPENSES
THAT OCCUR PERIODICALLY
Certain major expenses occur throughout the year on an irregular basis. It may be
difficult, if not impossible, to pay these bills, along with your regular bills, from a single
paycheck. The most convenient way to pay for these expenses is to set small amounts of
money aside regularly in a special account so that it is available when the bills arrive.

Review this list and write in the amount that you anticipate you will need when these bills
come due. Estimate for occurrences like car repairs, medical bills, and holiday spending.

The calendar below is a good way to help you think ahead to these expenses. Write the
expense under each month it is due. Total up the annual amount needed and divide by
12 to get a monthly amount you need to set aside.

PERIODIC EXPENSES ANNUAL AMOUNT PERIODIC EXPENSES ANNUAL AMOUNT

Car Repairs $ Snow Removal/Lawn Care $

License Plates Vacation
Car Insurance Gifts
Medical/Dental Holiday Spending
Taxes Back to School Spending
Life Insurance Other
Household Maintenance

January February March

April May June

July August September

October November December

7
Now that you’ve identified
your goals and created a
spending plan, here are
some other ways to begin
or increase your saving.

PICK OUT A FEW OF THESE TIPS

THAT FIT YOUR LIFESTYLE:

8
SAVINGS BASICS

• Commit to saving your change • Make your savings automatic. Have your
and any gifts of money (birthdays, paycheck direct deposited, and then
Christmas, etc.). have a portion automatically transferred
into a savings account. Remember,
• Save your income tax refund – you can no amount is too small to get started –
now split your refund into both savings even $25 every payday will make
and checking accounts. a difference.

• Review your paycheck. Save your • Invest automatically with government

overtime pay. Save your year-end savings bonds. The government’s
bonuses. When you get a raise, TreasuryDirect program
save it. Continue to live on what (treasurydirect.gov) provides an easy
you made before. way to invest in two types of bonds:
I-Bonds and EE Bonds.
• If you eliminate an expense, save
it. For example, if you quit smoking, • Understand the magic of
save what you would have spent compounding interest, also known
on cigarettes. as the “time value” of money.
Take the number 72 and divide it
• Start a savings account early in the year
by your saving rate. That will tell you
to pay for holiday gifts. Banks and credit
how fast your money will double.
unions will open special accounts for
The higher your savings return,
that and many other savings goals.
the less time it will take to double.
• To earn the highest return on savings
with little or no risk, consider a certificate
of deposit.

9
CREDIT CARDS & LOANS INSURANCE
• Avoid late payment and over-the-credit • Review your deductibles on your
limit fees. Fees can be up to $39. auto insurance for collision and
comprehensive coverage. Talk to your
• Pay more on the credit cards with the agent about raising them to at least
highest interest so they are paid off first. $500 or, if you have an older car,
dropping these coverages altogether.
• Pay more than the minimum payment to
Call several licensed insurers to find
pay off balances quickly and save the
out what they would charge you for
money you would have paid in interest.
the same coverage.
By paying an additional $10 on a credit
card with a $2,500 balance, 3.5% • Review your life insurance premiums
minimum payment and an interest rate and coverage annually. If you want
of 15%, you can pay it off in a little over insurance protection only, buy a term
6 years as opposed to nearly 11 years life insurance policy.
you will save yourself nearly $400 in
finance charges. • Review your insurance coverage.
How long has it been since you last
• Try and get a lower interest rate on reviewed your insurance and do you
your credit card. How can you do that? have the appropriate amounts for your
Many times, it’s as simple as just asking. present situation? You should look
There is no incentive for a credit card at all types of insurance coverage,
company to lower your rate unless you including health, life, car, disability,
call. It’s simply an example of “the and home. Don’t forget to make sure
squeaky wheel gets the grease.” your beneficiary information is correct
and up-to-date.
• Switch to credit cards with lower annual
percentage rates (APR). Balance
transfers can sometimes save you
money, BUT read the fine print to
understand all terms and conditions.

• If you pay off a credit card, continue

making the payments to yourself into
a savings account.

10
UTILITIES MORTGAGE LOANS
• Make certain that appliances you • Shop for a mortgage with the lowest
purchase, especially air conditioners interest rate you qualify for and with
and furnaces are energy-efficient. the shortest loan term you can afford.
Information on the energy efficiency Utilize online loan calculators to
of major appliances is found on compare overall costs.
Energy Guide Labels.
• Be aware that the interest rate on most
• A home energy audit can identify ways adjustable rate mortgage loans (ARMs)
to save up to hundreds of dollars a year can vary a great deal over the lifetime of
on home heating and air conditioning. the mortgage. An increase of several
Your electric or gas utility usually percentage points might raise payments
provides these audits. by hundreds of dollars per month.

• Check with your phone company to see

whether a flat rate service plan will save
HOME IMPROVEMENT
you money. Check your phone bill to • Shop around. Select from among
see if you have optional services that several well established, licensed
you don’t really need. contractors who have submitted
written, fixed-price bids for their
• Low income subscribers may qualify
work. Check with your local
for discount service. Call your local
Better Business Bureau.
provider to see if you qualify.
• Don’t sign a contract that requires
• Long distance calls made at night or on
full payment before satisfactory
weekends can cost significantly less than
completion of the work, and don’t sign
weekday calls. If you make more than a
anything you don’t understand or let
few long distance calls each month,
someone pressure you into signing.
consider subscribing to a calling plan.

11
MAJOR APPLIANCES FOOD PURCHASES
• Check Consumer Reports, available • Watch where you shop for food.
online (consumerreports.org), Convenience stores typically
for information about specific brands charge higher prices.
and how to evaluate them. There are
often price and quality differences • People spend less on food if they
among brands. shop with a list, and if they go when
they are not hungry.
• Once you’ve selected a brand, check
online to learn what stores carry this • Compare price-per-ounce or other
brand and to find the best price. unit prices on shelf labels. Buy generic
brands. If you can use them by the
expiration date, buy a more economical,
PRESCRIPTION DRUGS larger size.
• Ask your physician and pharmacist for
• The higher-priced items in a store
generic drugs whenever appropriate.
are usually located at eye level.
Since pharmacies may charge different
Lower-priced items can usually be
prices for the same medicine, call
found below or above eye level.
several locations.
Try to avoid ready-made dishes,
• When taking a drug on an ongoing they command premium prices.
basis, consider using mail-order
• Cutting coupons can save up to
pharmacies, which often charge
20% on your weekly food bills.
lower prices.
Get a Sunday newspaper and check
• Many big chains and pharmacies now online for coupons. Many stores
offer selected drugs for $4, or even free. accept competitor coupons,
Make sure you check around to find the or will price match.
best price.
• Get a store frequent buyer card.
They can give you instant access
to sales and savings.

• Mind the scanners. Computer errors

and human errors can turn into costly
mistakes. Watch the clerk ring up each
item and check your receipt.

12
GENERAL SHOPPING TIPS
• Plan your shopping trips. This sounds • Be a comparison shopper.
basic, but planning makes you think With all the choices we have today,
ahead as to whether or not you really comparison-shopping is even more
need an item, and where you can get it important. Look at ads and consider
at the lowest cost. Stick to your list and all sources such as wholesale clubs,
you will breeze through the store. outlets, and even thrift stores. Price is
only one thing; make sure the company
• Avoid impulse buys. This goes will stand behind its products.
hand-in-hand with creating a list. If you
see something you want to buy that • Keep your receipts and watch the ads.
wasn’t planned for, give yourself a little Most stores will refund the difference if
test. Ask yourself: Will I use it soon? the item you bought goes on sale, or if it
Will I need it later, but can save money is further marked down shortly after you
by buying it now? Does it fit within my bought it. Take the receipt back to the
budget? Make sure you ask yourself if store and see if they will give you the
you really need the item or just want it. same price.

• Be an informed shopper. Do your • Before you buy from someone online,

homework. Many companies, know whom you are dealing with.
government agencies, and consumer You can usually feel pretty confident
groups are providing a lot of information dealing with nationally known brands
on products. You can get unbiased or retailers. However, just because they
information online to help evaluate are small doesn’t make them bad.
if you are getting a good value for You can check out a business through
your money. Again, remember to the Better Business Bureau (bbb.org) in
decide if you need the item or your area to see if they conform to their
just want it. online business ethics.

13
BUYING CARS CAR REPAIRS &
• Consider whether a late-model used
MAINTENANCE
car, costing thousands of dollars less • You can save hundreds of dollars a year
than a new vehicle, would meet your on gas by keeping your engine tuned
needs. The biggest cost in owning a and your tires inflated to their proper
new car is depreciation. Some new pressure. Use the lowest octane called
cars drop in value by as much as for in your owner’s manual.
20% in the first year on the road.
• Most important—find a skilled,
• When buying a used car, compare the trustworthy mechanic. Spend the
seller’s asking price with the “bluebook” time and look for a mechanic who has
or other guides to car prices found done work for a friend, co-worker or
on the Internet. Have a mechanic family member, and discuss repair
check the car. options and costs.

• Before leasing a car, consider the price

of the car, the trade-in allowance, any TRAVEL
down payment, monthly payments,
• Air fares may be reduced by as much as
various fees such as excess mileage and
two-thirds if your trip includes a Saturday
excess wear and tear. What is the cost
evening stay-over, and by purchasing
of buying the car at the end of the lease?
the ticket 2-3 weeks in advance.
Read Look Before You Lease, published
by the Federal Reserve Board and • Consider low fare no-frills air carriers or
Federal Trade Commission, and visit alternative airports.
ftc.gov for more information about
auto leasing. • When renting cars, shop around for the
best basic rates and check the Internet.
Ask about any additional charges (other
drivers, gas, drop-off fees) and special
offers. Also, check with your insurance
agent and credit card companies in
advance to avoid duplicating any
coverage you may already have.

14
There are many websites that can
help you with money management
questions. Here are just a few:
Saving Money Credit Reports and Scores
americasaves.org equifax.com
treasurydirect.gov transunion.com
experian.com
General Topics annualcreditreport.com
apprisen.com scoreinfo.com
yahoo.com/finance
money.msn.com Home Preservation
bankrate.com and Homeownership
mymoney.gov hud.gov
moneychoices.com fanniemae.com
tomorrowsmoney.org freddiemac.com/creditsmart
aarpmmp.org
ftc.gov

Additional information for making better purchasing decisions is

available at local libraries, which can also provide Internet access.

Remember, we are here to help. Many people just like you contact us
every day to get important information and to discuss their options.
If you need more information or feel a confidential, personalized
counseling session at one of our local offices might be right for you,
please contact us at:

800.355.2227
apprisen.com

15
YOUR LOCAL, PROFESSIONAL SOURCE
FOR PERSONAL MONEY MANAGEMENT
COUNSELING AND EDUCATION.

Since 1955, we’ve helped people in all stages

of their financial lives master the essential
skills for successful money management,
wise credit use, and wealth-building.

Apprisen

800.355.2227
apprisen.com

16
FINANCIAL SERVICES HOW MUCH SHOULD YOU SIMPLE STEPS TO
SPEND PER MONTH? SAVE MONEY

Comprehensive Financial
FRITTER
Category % of take-home pay Set specific financial goals, then
Counseling decide how much you need to
save each week to get there.
Clothing...................................... 7%

FINDER
Financial Education Start a savings account and
Food......................................... 12%
have a portion of your paycheck
Debt Repayment Program Housing.................................... 30% directly deposited.
Insurance..................................... 5% If you pay off a loan, continue
Housing Counseling
Mad Money................................. 2% making the payments to yourself
Bankruptcy Counseling/ into a savings account.
Medical....................................... 5%
Education Save your change and any gifts
Recreation................................... 4% of cash.
Savings........................................ 8%
Pay your bills on time to avoid
School/Childcare......................... 3% late payment fees.
Contact Us
Transportation............................ 17% Use store coupons and store
800.355.2227
frequent buyer cards.
apprisen.com 17 Utilities........................................ 7%
FRITTER FINDER
Do you ever wonder where all your money goes? For one week,
carry our Fritter Finder with you and track where you spend your
money. At the end of the week you’ll have a clear idea of just
where those extra dollars could be hiding.

In the future, you can use funds you currently fritter away to
increase savings, pay off bills or buy something special.

ITEM COST
Exa mple: Lu nch at work $5.8 7

TOTAL
18
Periodic Expenses

How to Plan for Occasional Expenses

Certain major expenses occur throughout the year on an irregular basis. It may be difficult, if not impossible, to pay
these bills, along with your regular bills, from a single paycheck. The most convenient way to pay for these expenses
is to set small amounts of money aside regularly in a special account so that it is available when the bills arrive.

Review this list and write in the amount that you anticipate you will need when these bills come due. Estimate for
occurrences like car repairs, medical bills, holiday spending. The calendar below is a good way to help you think
ahead to these expenses. Write the expense under each month they are due. Total up the annual amount needed and
divide by 12 to get a monthly amount you need to set aside.

Periodic Expense Annual Amount Periodic Expense Annual Amount

Car Repairs Household Maintenance
License Plates Snow Removal/lawn Care
Car Insurance Vacation
Medical/Dental Gifts
Taxes Holiday Spending
Life Insurance Back to School Spending
Other Other

January February March

April May June

July August September

October November December

Apprisen
690 Taylor Road, Suite 150 1-800-355-2227
Gahanna, OH 43230 www.apprisen.com
19
Savings Goals
Worksheet
Think of goals as dreams with deadlines. The first step in personal financial planning is to know what you want
and then make a plan on how to get there. Be S.M.A.R.T. when establishing your goals: Specific, Meaningful,
Attainable, Realistic, and Time-Related. In establishing your financial goals, remember to include building an
emergency fund and paying down debt. Use this form to help you identify your need for emergency savings, short-
and long-term financial goals, and a time frame for achieving them.

Step 1: Short Term Goals

Financial goals you wish to achieve in one year or less.
Item Specific Cost Target Date Amount To Save Comments
Monthly

Step 2: Mid Term Goals

Financial goals you wish to achieve in one to five years.
Item Specific Cost Target Date Amount To Save Comments
Monthly

Step 3: Long Term Goals

Financial goals you wish to achieve in five or more years.
Item Specific Cost Target Date Amount To Save Comments
Monthly

To keep motivated in achieving your financial goals, write them down on a piece of paper and put them in your
wallet or displayed around your house to remind you of what you are working for.

Apprisen
690 Taylor Road, Suite 150 1-800-355-2227
Gahanna, OH 43230 www.apprisen.com
20