(MUSIC) DO YOU HAVE A WRITTEN HOUSEHOLD BUDGET?
CHANCES ARE THE ANSWER IS NO.
THAT'S BECAUSE VERY FEW OF US WRITE DOWN OUR BUDGETS AND INSTEAD WE BUY WHAT WE WANT WHEN
WE WANT.
AND WHILE THIS MAY SOUND LIKE FUN, THESE SPENDING PATTERNS CAN KEEP US FROM GETTING AHEAD FINANCIALLY.
AND IF AN EMERGENCY STRIKES THERE ARE NO RESERVES TO FALL BACK ON.
WELL, TODAY WE HAVE SOME IDEAS ON HOW TO SAVE FOR A RAINY DAY NO MATTER WHAT YOUR INCOME
THIS IS POSSIBLE.
ESPECIALLY WITH THE HELP OF MY NEXT GUEST.
DIEDRA GWEN, MANAGING DIRECTOR OF SPRING LEAF FINANCIAL.
DEIDRA GREAT TO HAVE YOU IN THE STUDIO.
THANK YOU JULIE.
THANKS FOR HAVING ME.
YOU KNOW, I JUST WANT TO GET RIGHT TO THE POINT.
WHY DO YOU THINK PEOPLE STRUGGLE WITH CREATING A HOUSEHOLD BUDGET?
BUDGETING TAKES COMMITMENT AND DISCIPLINE AND IT'S VERY TOUGH TO DO.
IT'S REALLY A MATTER OF SITTING DOWN AND LOOKING AT YOUR FIXED AND VARIABLE EXPENSES AND WRITING
EVERYTHING DOWN AND IDENTIFYING WHAT YOU CAN GET RID OF, WHAT YOU CAN ELIMINATE TO IMPROVE
YOUR FINANCIAL SITUATION.
AND WHY IS A RAINY DAY FUND SO IMPORTANT IN YOUR OPINION?
WOW.
LIFE HAPPENS.
YEAH.
AND WE CAN ALL IDENTIFY WITH A JOB LOSS OR AN EXPECTED MEDICAL OR CAR EXPENSE.
AND OR JUST ANY OTHER EMERGENCY, ANY OTHER MAJOR FINANCIAL ISSUE THAT WE NEED TO HELP
SUPPORT THE BUDGET.
AND WE HAVE TO REALLY THINK ABOUT THAT.
THAT'S SCARY.
LIFE HAPPENS BUT IT JUST DOES.
SO WHAT ARE YOU IDEAS ON HELPING PEOPLE TO SAVE?
WELL, LET'S START WITH THAT CUP OF COFFEE THAT WE LIKE TO HAVE EVERY MORNING.
THAT EXPENSIVE CUP OF COFFEE.
IT COULD BE SOMETHING THAT SMALL BUT THAT'S A CONSTANT EXPENSE THAT WE HAVE THAT WE CAN
ELIMINATE AND THAT SMALL CUP OF COFFEE ADDS UP AND YOU ADD IT UP ON A MONTHLY BASIS AND
THAT'S SAVINGS THAT WE CAN HAVE IN THAT AREA.
BEING ABLE TO BUDGET, AS WE MENTIONED EARLIER, IS VERY IMPORTANT.
SO, TAKING A LOOK AT YOUR EXPENSES AND BEING ABLE TO SET MONEY ASIDE FOR THAT RAINY DAY
FUND.
AND YOUR COMPANY HELPS AND CAN HELP OUR VIEWERS AND MYSELF GUIDE US THROUGH WAYS TO BUGDET
AND WAYS TO SAVE, RIGHT?
YES.
WE HAVE A BUDGETING TOOL ON SPRINGLEAF.COM THAT CAN ASSIST WITH BUDGETING.
WE ALSO HAVE CREDIT SCORING, VANTAGE SCORE THAT CAN ALSO HELP YOU IDENTIFY WHAT YOUR
CREDIT SCORE IS.
AND CREDIT SCORES BRING UP A GOOD POINT.
WHAT ROLE DO THEY REALLY PLAY AND ALSO LOAN DEBT, WHAT DOES THAT PLAY IN YOUR FINANCIAL
PICTURE?
YOUR CREDIT SCORE AFFECTS EVERYTHING YOU DO FINANCIALLY.
IT WILL AFFECT YOUR INSURANCE RATES, IT WILL AFFECT MORTGAGE AND CREDIT CARD RATES.
IT WILL AFFECT YOUR ABILITY TO GET A LOAN WITH A BANK.
YOU MAY END UP GOING TO A PAY DAY LOAN COMPANY AND PAYING TRIPLE INTEREST RATES ON YOUR CREDIT
JUST BECAUSE OF IT.
SPRINGLEAF IS A DIFFERENT TYPE OF COMPANY AND WE REALLY CARE ABOUT OUR CUSTOMERS AND
THEIR FINANCIAL HEALTH AND WE WANT TO MAKE SURE THEIR CREDIT IS PROTECTED AND THAT THERE
ABILITY TO REPAY THEIR LOAN BACK.
FANTASTIC.
AND WHEN PEOPLE THINK OF BUDGET, WHY DO YOU THINK IT TAKES ALL THE FUN OUT OF LIFE AND
THAT IT, I THINK THAT IT HOLD FOLKS BACK FROM WANTING TO BUDGET.
IT DOES AND IT'S REALLY NOT THE CASE.
IT'S REALLY BEING ABLE TO PLAN FOR A FUN VACATION WITH YOUR FAMILY AND SAVE THAT MONEY AND HAVE
THAT PLAN A YEAR IN ADVANCE.
AND MAKE IT HAPPEN AND ACCOMPLISH IT IS A GREAT FEELING.
AND OR SETTING ASIDE 5 OR 10 DOLLARS A WEEK AND PLANNING A GIRLS WEEKEND OR A
SPENDING SHOPPING SPREE.
YEAH.
THAT TYPE OF THING IS SOMETHING THAT YOU CAN LOOK FORWARD TO AND YOU GO AFTER IT.
THAT'S A GREAT IDEA.
I LOVE THAT.
BEFORE YOU GO.
IS THERE ANYTHING ELSE THAT YOU REALLY FEEL THAT PEOPLE SHOULD KNOW ABOUT BUDGETING AND
ABOUT HOW THEY CAN USE SPRINGLEAF.
THEY HAVE TO HAVE A COMMITMENT TO THE BUDGET AND IT'S IMPORTANT.
AS I MENTIONED, YOUR CREDIT AFFECTS EVERYTHING YOU DO SO HAVING A STRONG FINANCIAL HEALTH
IS IMPORTANT.
TAKING THE TIME TO SIT DOWN AND RIGHT DOWN EVERYTHING, YOUR EXPENSES, AND FIXED AND VARIABLE,
AND CREATING THAT BUDGET GOES A LONG WAY.
USING OUR BUDGET TOOLS.
WE HAVE THE BUDGET TOOLS ON OUR WEBSITE AT SPRINGLEAF.COM/BUDGETTOOLS
AND ALSO THE VANTAGE SCORE AND MONEY SKILLS ARE ALL IMPORTANT THINGS THAT WE HAVE ON OUR
WEBSITE THAT ARE HELPFUL TO CUSTOMERS.
AND THEY ARE ALSO FREE, RIGHT?
AND THEY ARE FREE.
THAT'S THE BEST PART.
VIEWERS LOVE TO TAKE ADVANTAGE OF THAT.
DEIDRA THANK YOU SO MUCH.
GREAT ADVICE, GREAT INFO.
AND WE LOVED HAVING YOU IN THE STUDIO.
THANK YOU JULIE, I APPRECIATE IT.
ALRIGHT, YOU WANT TO KNOW MORE, LOG ON TO THEBALANCINGACT.COM
YOU CAN ALSO FOLLOW US ON FACEBOOK AND TWITTER.
(MUSIC)