Everyone has habits - good and not-so-good. They are our usual ways of acting in everyday situations. The good and worthwhile habits reward us with su

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2 Everyone has habits - good and not-so-good. They are our usual ways of acting in everyday situations. The good and worthwhile habits reward us with success and satisfaction. The notso-good habits reward us with waste, inadequacy, and maybe destruction. Value of a product, service, or habit, is measured by its: (1) financial worth, (2) contribution to a need, or (3) satisfaction to an individual or group. Waste is anything which has no present or future value. Because of wasteful habits many families have experienced:. money leaks and financial problems or crises brought on by unwise choices of goods, buying unnecessary or needless goods and services, overpayment for goods or excessive use of credit.. lack of time for worthwhile activities because time was squandered on less productive or satisfying activities.. an accumulation of surplus goods which offer no-use-value but must be stored.. mental fatigue and feelings of depression caused by dissatisfaction, worry and stress. - WHY TOLERATE WASTEFUL HABITS? No law says we must put up with wasteful habits. If we are not satisfied, each of us must decide and work to change or improve habits. To Stop Wasteful Habits 1. Study family member s actions in using money, time, talents, and goods or services. a. What do they do? b. Are actions satisfactory? 0. Does any waste of resources -- money, time, goods -- exist? 2. Refer to the section on thrifty habits for ideas on avoiding waste. a. Identify habits of family members which offer profits in dollars and/or satisfaction. b. Identify those habits which have no value. 3. Select one, wasteful habit for each individual or the family. Change it into a profitable habit. 4. Continue to improve habits until waste is eliminated and satisfaction is achieved, and your family gets full value from its money, time, and talents. WASTE breeds DESTRUCTION THRIFT breeds and nourishes SUCCESS YOU choose WHICH HABITS to follow. "YOU enjoy or suffer from the CHOICE. THRIFTY HABITS 1-9- Learn and practice thrifty habits for optimum living. The successful individual or family must have a set of firm policies which promote thrift and which are habitually followed. This set of thrifty habits has been beneficial to many families. Could following them help your family achieve a more meaningful life?

3 DOLLAR 2. Cooperate and work together as a S-T-R-E-T-C-H E-R-S family for whatever is important. Members should:. discuss and agree on what is important and needed.. be willing to share or sacrifice individual needs for family needs and work together to achieve what is important.. be willing to do without rather than using credit.. support and contribute efforts toward achieving family goals.. minimize expensive personal habits that make big demands on the family s money. 3. Moonlight for extra funds when needed. Various family members might use Dollar stretchers are only wise money time and talents to: management habits. When these ideas become a habit that is practiced in everyday. do odd-jobs for money or as comlife, one gets more for one s money. munity contributions. 1. Acquire the know-how for stretching. work over-time. your dollars. To do this you must:. learn to budget money-- to use it for the most important needs and wants and to save maybe 20 percent or more by getting the best buy for your money in the marketplace.. learn to keep effective records of money use, be able to locate the money leaks, evaluate the success of your budget, and make budget plans for the future. study labels, ads, and literature for facts and worthwhile information about products needed.. learn to makeor do as many things as possible for improved living-- wise buying, proper use and care of products, sewing and renovating, making repairs, creative cooking, and skills for earning.. read educational literature, attend programs, and talk with friends for ideas on better use of the dollar.. improve skills for increased earning power.. use special talents or skills for income-producing activities. 4. Plan famin spending. Spending'without a plan is the biggest waste of money. Money leaks here and there to satisfy this impulse or that one. The result is too much week or month for your money. Family members should: identify and agree on what is needed.. agree on how much can be spent for different things such as food, clothes, transportation, recreation and similar items before any money is spent. '. make a list of things needed before going to the store.. keep a record of how money was us ed.

4 . evaluate the success of the spending plan. Identify leaks or valueless buys and be on guard against these in the future. 5. Provide financial security against major needs and risks. Fire, serious accidents or illness, unemployment or death can quickly use up a family s assets. Families can build some protection against such risks by:. saving a part of every pay check. Pay yourself first by saving is sound advice.. placing savings safely, but to earn maximum interest.. practicing safe and healthful living habits and reducing medical needs for accidents or illnesses.. obtaining regular medical checkups.. buying the right-type of insurance against expensive risks-- accident and hospital, property damage, and life-- which are likely to occur. 6. Practice wise shopping techniques and save money. Be sure to:. make a shopping list before going to the store and stick to the list.. carefully read and evaluate advertisements; everything advertised is not a miracle, bargain, or markdown.. compare qualities and prices of products to get the best buy. Remember that everything labeled Sale is not a good buy, nor is everything a mark-down at a discount store. On the average as much as 25 cents of every dollar can be wasted by getting the poorest rather than the best buy.. buy rather than be sold. Know what you need and want and don t let the salesman talk you into buying amore expensive item or one lower in quality than is needed.. buy only what is needed and can be used to advantage. Surplus or needless items and convenience features waste money, storage space, and maintenance efforts. Check the items purchased on shopping trips for the various family members. What items were really not needed? How much money does this represent?. buy last year s model-- equipment, auto, clothes when satisfactory. A savings of 20 percent or more can usually be realized.. read ads and take advantage of worthwhile specials or store leaders. The specials in a grocery store can yield a saving of 10 to 15 percent, and a saving of 20 percent or more can be realized on good buys in clothing, equipment or furniture special sales. The secret to getting bargains is knowing what you want and need, knowing regular prices of merchandise, and having the money to take advantage of areal bargain when it occurs.. beware of peddlers or door-to-door salesmen. Items sold this way are usually much more expensive than similar items at local stores. Repairs or adjustments may be difficult or impossible to get. avoid buying better quality than is needed or prestige brands. Store brands, imperfect or second quality, or used items, if satisfactory, can save money. Examine second quality carefully before buying. plan carefully and avoid buying surpluses. Is a second car really needed? How much waste results from left-over food, fabrics, notions, cosmetics, or from clothes which children have out-grown? Is money wasted on housing or auto accessories? How much food is lost from spoilage? use coupons and trading stamps wisely. You get approximately two cents worth of stamps for every,, a, if { ;

5 dollar spent. Products are usually more expensive at stores where stamps are given. Exerting extra effort to obtain stamps may be a waste of effort and transportation costs. Don t use your stamps for items which can be purchased in a store for less than retail price. Products in the stamp catalogues are usually valued at the manufacturer s list price. Therefore, it is wise to use your stamps for items which cannot be purchased locally for less than full retail price.. buy no more perishable items than you can use or safely store, no matter how low the price.. 'plan for future needs for staple foods, household supplies, personal-care products, clothes, furnishings, recreational equipment and tools. Be alert to special sales and purchase products at best buys.. plan ahead for gifts. Purchase gifts on special sales when possible. Use the store s free gift-wrapping service. buy a minimum of convenience products-- foods, cleaning products, and equipment features. The built-, in convenience may not be worth the price. Cut out expenditures for needless items such as: (a) excessive snack foods andbeverages; nutritious meals promote better health. (b) household tools and gadgets which are seldom used. Use something on hand for those once-in-a-while needs. (0) the latest household cleaning supplies. Stick with the basic supplies which are effective and adequate. (d) numerous children s toys. A few stimulate the child s imagination; encourage him to create play activities. (e) excessive bric-a-brac or decorative objects which cost money and require maintenance and storage. (f) books or magazines which are not read. Instead use library for at least part of reading supplies.. when buying products choose those that require inexpensive maintenance-- washable clothing and furnishings, appliances with a minimum of automatic features, durable furniture that wears well and requires few repairs, no larger motor in auto than is absolutely needed.. reduce services bought-- meals out, dry-cleaning, car maintenance, recreation, or personal care. Practice more do-it-yourself services. 7. Use credit wisely. Remember to:. use credit only for the things which are absolutely necessary. Credit carries a price. It can be a convenience or quicksand for shoppers.. when credit must be used, keep. credit purchases to a minimum. Money spent on finance charges could often be used more effectively for something else. Consider what you are paying for credit; then decide if it is worth the cost.. pay total amount due for credit card purchases; otherwise you pay charges on both the unpaid balance and the payment made. before using credit, compare costs at different sources and get the best credit buy. before signing credit contracts, carefully read and understand them and be sure all blank spaces are filled in or crossed out. ' 8. Reduce transportation costs. Why not:. buy an economy or standard-size car with a minimum of accessories?

6 10.. cut out unnecessary trips? For example: make one trip per week to the grocery store instead of three. If your auto costs are $.15 per mile: 3 trips x 10 miles x $.15 per mile trip x 10 miles x $.15 per mile 1.50 Savings $ when possible, walk instead of riding?. follow manual for repairs and maintenance of auto? Learn and do the maintenance and minor repair jobs- consider what you are saving. 9. Increase home production. Substitute time and ability for money. You can save by:. renovating or repairing items-- clothes, furniture and furnishing -- for extended service or for some needed use.. being creative and using left-over foods for future meals-- casseroles, salads, soups.. making gifts instead of buying them.. giving proper care to personal and home products so they will last longer.. improvising and using something on hand when possible instead of buying a new item. Look through what s on hand-- it s usually amazing what can be done with what s available.. putting to use items which lie idle in storage. '. using talent to mix foods rather than buying the convenience or ready-to eat foods.. making simple home repairs-- plumbing, electrical, appliances, housing-- instead of hiring a repairman. Use public facilities and services when 11. possible. Taxes and private donations provide these facilities. You have an investment in them, so why not: use health department for some medical needs? use parks and community buildings for recreational activities? use library for family reading materials? use educational agencies-- Agricultural and Home Economics Extension, and technical schools-- for publications, programs, and special questions about family living, family business affairs, consumer pro ducts, housing and lawn maintenance, farming, gardening, special do-ityourself skills? Conserve energy. Major ways to do this include: insulating home for efficient heating and cooling.. operating heating and cooling units at minimum levels for comfort.. using electrical appliances for energy efficiency-- only when really needed, with full loads but not overloaded, and with thermostats and controls set at proper temperatures and speeds for purpose (cooking on high temperature after food has begun to boil is a waste of energy).. maintaining electrical appliances for efficient functioning-- cleaning filters and making needed repairs. using small electrical appliances instead of range for specialized jobs such as toasting, frying, broiling. reducing consumption of hot water-- substitute cold for hot when results are satisfactory.. turning off unnecessary lights.

7 TIME S- T-R-E-T-C-H-E-R-S 3. Follow time plan. Putting things off wastes time and the pile-up of responsibilities is frustrating. Make adjustments in schedule as the need arises. 4. Develop effective work habits. You might:. prevent needless work-- work smarter, not harder.. use conveniences as time savers-~ telephone, convenience foods.. organize work area and tools for efficiency-- store tools in area of use and where they will be easy to remove from and put into storage,. organize routine tasks of family living-- establish a definite time and efficient procedure for doing them.. promptly begin and finish tasks-- delaying a task only makes it more difficult. Idleness, procrastination-- putting off tasks, and inefficient work practices are the greatest time wasters known. Time wasters and the many opportunities for time-consuming activities demand efficient use of time. _ To achieve more of whatever is important, practice these time stretching techniques: 1. Establish clear-cut aims for use of time.. Identify all worthwhile activities ' which will consume your time.. develop a faster working tempo-- brisk work pace increases blood circulation and feeling of well-being.. do two things at the same time when possible. 5. Periodically evaluatgyour use of time. Identify and eliminate any time wasters. TALE NT and ENERGY S- T-R-E-T-C-H-E-R-S. Rank activities in order of importance to you or your family. 2. Plan for the use of time. You will need to schedule all activities-- putting the most important activities first and designating a realistic amount of time for each activity. Be sure to keep schedule flexible for adjustments and to include some free or unscheduled time. Use your talent, ability and knowledge wisely to achieve the things which are important to you. You might:

8 1. Improve skills for employment or doit-vourself activities. Improved skills provide opportunities for employment and wage increases. Selfhelp activities save money and reduce wasted time and talents, and may even earn money for you. 3. Practice efficient work habits, and rest before excessive fatigue occurs. For other ideas refer to rule 4 under Time Stretchers. Create and invent for more enjoyable living. Talents at rest have no value. Be innovative, use imagination and ability to add interest and spice to your work, home, and recreational activities. Additional information about the ideas on stretching money, time and talents may be obtained by: 1. Contacting the Home Economics Extension Agent at your County Agricultural Extension Office. 2. Reading How to Live Better and Spend 20% Less by M. E. Dowd (borrow book from library). north carolina AGRICULTURAL EXTENSION SERVICE Helping people put knowledge to work. Prepared by: Thelma Hinson, Extension Family Resource Management Specialist p Published by THE NORTH CAROLINA AGRICULTURAL EXTENSION SERVICE North Carolina State University at Raleigh, North Carolina Agricultural and Technical State University at Greensboro, and the US. Department of Agriculture, Cooperating. State University Station, Raleigh, NC, Chester D. Black, Director. Distributed in furtherance of the Acts of Congress of May 8 and June 30, The North Carolina Agricultural Extension Service offers its programs to all eligible persons regardless of race, color, or national origin, and is an equal opportunity employer M (Reprint) HE-176