How to Develop
Techniques and Practices
Excerpted from "The Money Instruction
by Paul S. Richard - ICFE Executive Director
- Write down all of the poor spending Practices that you need to change.
- Write down how you plan to bring about the changes in each area.
- Construct a cash-flow sheet showing income and outgo.
- Set up and implement a spending-plan.
- Discontinue all use of credit cards.
- Begin collecting and making notes on your cash purchase receipts.
- Review all insurance coverage for duplication, higher deductibles, etc.
- Begin saving one dollar-a-day (or dollars) and all pocket change, everyday.
- Look for alternatives and substitutes to spending.
- Start utilizing cents-off coupons and mail in for rebates.
- Wait for the sales. Comparison shopping can save more than 50 percent.
- Take advantage of seconds, rebuilt and used items where practical.
- Start doing things for yourself that others were paid to do previously.
- Have weekly meetings on improving spending with other family members.
- 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.