frugal but fun - CignaBehavioral.com

FRUGAL BUT FUN
Making the most of your money
Presented by Cigna
Employee Assistance Program
SEMINAR GOALS
• Explore the concept of seeking good values at low cost and
what can get in the way
• Understand the benefits of a frugal lifestyle
• Review budget basics
• Learn frugal living money saving methods
• Discuss low-cost destinations and activities
• Review the benefits of the Employee Assistance Program (EAP)
Use and distribution limited solely to authorized personnel. © 2012 Cigna Some content provided under license.
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HOW CAN FRUGAL BE FUN?
penny
pincher
Reluctance to
ney saving
spend
Momoney
for any reason
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frugal
methods
Getting items
or experiences
that you value,
at low cost
3
CHECK YOUR MINDSET
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Money equals happiness illusion
Need for immediate fulfillment
Unrealistic standard of living
Outmoded spending patterns and norms
Thinking short term instead of long term
Learn to rely on your
interpretation of value,
not that of others,
including the media.
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4
EMBRACE THE PHILOSOPHY
• Enjoy the “thrill of the hunt”
• Be motivated by fun, not fear
• Get family members on board
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5
Beyond saving money
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Puts you in control
Keeps your spending options open
It makes you feel good
Avoid “unfun” feelings of overspending
Often involves healthier behaviors, choices
Shift to valuing people and experiences over things
Shape kids’ attitudes about spending
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6
MONEY MANAGEMENT
• Examine your relationship
with money and credit
• Master some budget basics
• Beware of frugal frenzy!
Credit card users have
been shown to spend about
12 to 18% more than
shoppers who pay cash.
(Beattie, 2012)
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MONEY SAVING METHODS
1. Plan ahead and follow through
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Do your research
Keep an eye on the calendar
hods
t
e
m
g
n
i
v
a
s
Coupon
ey
Monclipping
Remember the rebates
Don’t waste a warranty
Use and distribution limited solely to authorized personnel. © 2012 Cigna Some content provided under license.
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MONEY SAVING METHODS
2. It’s new to you!
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Borrow, lend, hand-me-down
Rotate what you have
Share and share alike
Consider a co-op
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MONEY SAVING METHODS
3. Explore new avenues
• Think outside the box
• Consider bartering
• Get out of your comfort zone
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MONEY SAVING METHODS
4. You can do it!
• Do It Yourself (DIY)
• Make your own
• The gift of time
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11
GIVE IT A TRY!
entertainment options
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Learn resources for low-cost tickets
Track discount days or get-in-free days
Explore free destinations
Love the library
Take community ed classes
Stay home
Do a sitter swap
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GIVE IT A TRY!
frugal food
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Bring lunch to work
Split large restaurant meals
Be alert for time-sensitive specials
Make cooking at home fun
Go potluck for parties
Stock up / buy in bulk
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13
GIVE IT A TRY!
out and about
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Outdoor recreation
Park systems
Nature centers
Rivers, lakes, beaches
Gardening
Community teams and yard games
Carve out a space
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GIVE IT A TRY!
travel tips
• Gas-saving driving habits
• Try camping
• Consider a staycation
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15
GIVE IT A TRY!
shop wisely
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Be open to buying used
Shop off-season
Avoid temptation
Take time to consider before buying
Don’t be fooled by packaging or brands
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Frugal fun forever!
• Don’t slip into penny pincher mode
• Keep it fresh, keep it fun
• Enjoy the rewards of the lifestyle
Use and distribution limited solely to authorized personnel. © 2012 Cigna Some content provided under license.
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Benefits of
the EAP
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Face to face sessions
Confidential
Prepaid
Unlimited telephonic consultation
Available 24 hours a day, 7 days a week
Household benefit
Work/Life support such as eldercare,
childcare and pet care
• Financial services
• Legal services
Benefits vary by employer. Please check with your HR for your specific EAP benefits.
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References
About.com. (n.d.). Coupons/Bargains. September is national coupon month. Retrieved
March, 26, 2012 from
http://couponing.about.com/od/smorgasbord/a/couponmonth.htm
Beattie, A. (2012.). Should you pay cash? Investopedia. Retrieved from
http://www.investopedia.com/articles/pf/08/pay-in-cash.asp#axzz1qd0qrRCp
Don’t Quit Your Day Job (DQYDJ), 2012. What will save you more money at work?
Bringing lunch or buying it? Retrieved from: http://dqydj.net/silly-thought-experimentsbringing-lunch-vs-buying-lunch-at-work/
MacDonald, K. (n.d.). One red paperclip. Retrieved March 28, 2012 from
http://oneredpaperclip.blogspot.com]
U.S. Department of Energy. (2012). Drive more efficiently. Retrieved from
http://www.fueleconomy.gov/feg/driveHabits.shtml
Use and distribution limited solely to authorized personnel. © 2012 Cigna Some content provided under license.
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