Presented by Jeff WitherspoonExecutive Director

Consumer Credit Counseling Service, Inc.

Who we are…Non Profit Agency – Community BasedServing Kansas Since 1985 (28 Years)Provide Individual Counseling Sessions About Debt

Elimination, Credit Issues, Bankruptcy and Housing

Offer Debt Management PlansTeach Financial Seminars Throughout the State

Including SchoolsRegulated by the State of KansasMember of the Better Business Bureau A+ RatingFunded Mostly by Grants Including the United

Way and the OSBC

Scary StatisticsThe US had had over 2.7 million bankruptcies and 1.5

million home foreclosures in the last 2 years. US unemployment is at 7.5 %, (KS is at 5.5) with 20%

more people reporting being underemployed. We have more payday loan locations than McDonalds,

Burger Kings and Wendy's combinedThe average college student graduates with $28,000 in

debtThe average social security check is about $1,230 per

monthThe US national debt is over $16 trillion dollars. Your

share is $52,000. Real wages have been stagnant for the last 5 years.What is going on?

Money Saving Tips

How to Keep More of Your Money at the Grocery Store

How to Save More of Your Money at the Grocery StoreTry to only buy items on sale and with a coupon Do not take the kids to the store with you.Buy store brands if name brands aren’t cheaperShop from a list and stick to it!!Stock up on non-perishables when you get a good

priceAlways compare items per pound, per ounce or by

unitShop at Aldi’s if you have one in your areaHave a “cheap night” dinner once a week-meatlessTake a calculator to the store

How to Keep More of Your Money on Your Car

How to Keep More of Your Money on your CarSLOW DOWN!! Aggressive driving uses 30% more

gasUse Consumer Reports before you buy your next car.

Look at overall costs of a vehicle, not just priceProperly inflate your tiresMaintain your vehicle according to the schedule in

your owners manual and use coupons Anticipate stoplights and coast to a stopTry to keep your vehicle for at least 10 yearsHave your children ride the bus instead of driving to

school if it is available. Make your kids wait to drive

How to Keep More of Your Money on Car Insurance

How to Keep More of Your Money on Car InsuranceRaise your deductible to at least $500. $1,000 is betterCheck prices on combined policies, auto and home. Compare rates with at least 5 companiesMake sure your credit score is as high as possibleAsk for all discounts available from your insurerKeep your teenagers from driving as long as possibleIf your car is paid for and is worth under $4,000, drop

comprehensive and collision coverageTry to drive less, rates are based on mileage

(13,000/yr)Paying in advance will sometimes get you a discount

How to Keep More of Your Money on Phones

How to Keep More of Your Money on TelephonesConsider using a prepaid plan such as Virgin

Wireless, GO Phone, Tracfone, Net 10 or iwirelessText as much as possible, it is cheaper than callingFor an inexpensive kid’s plan, consider using

KajeetFor home telephone consider a Voice Over IP

system such as Magic Jack , Vonage or OomaIf you have high speed internet -consider SkypeBundling services with the same company is

usually cheaper

Keeping More of Your Money on Utilities

Keeping More of Your Money on Utilities

Buy a programmable thermostatTurn down your water heater to 110 degrees

(medium)Wash your laundry in cold water and air dry towels Buy a low flow showerhead and toilet to save waterUse a surge protector to shut off electronics at

nightChange your furnace filters monthlyGo to Westar.com for great tipsInstall an attic fan.Consider a heat pump

The “ Hidden Costs” of Life(The most important expenses you forget)

These are Expected expenses that occur at least once a year, not monthly, that people

tend to forget Examples: Car tags and taxes Certain types of insurances Anniversaries, birthdays,

mother’s and father’s day Vet costs And the big one- CHRISTMAS

• Back to school expenses• Vacations and travel• Vet bills

So how do we plan for these “hidden costs”?First you need to know how much you need to save per

month:

Hidden Cost: Yearly AmountCar tags and taxes $ 350School Costs $ 680Vacation $ 1,170Birthdays/Other $ 400Christmas $ 1,300 Total $3,600

Big Scary Number Divide by 12 months = $300/per month

Two Largest Controllable ExpensesExample:NetIncome$2,500/MonthFromGross of$3,000

17

20%

30%

CAR

HOUSE

EVERY-

THING

ELSE

$500

$750$1,250

Jeff’s Top 10 ListDevelop a spending plan you can live with-include spouse and

childrenEstablish an emergency fund of at least $5,000Start your retirement plan and make sure you are funding it

properlyOnly borrow money when necessary and stay within guidelinesStart a savings account for the hidden costs of lifeLearn to say NO. To yourself, your children and your spouseBe healthy-fasting rising cost you are facingBecome financially literate keep studying and set goalsGet out of debt and stay out!Enjoy life-but on a budget

Contact

Jeff WitherspoonExecutive Director

Consumer Credit Counseling Service316-265-2000

jeffw@kscccs.org