Taking
Time
by
Rebecca
Escott
FIGHTING FAMILY DEBT
In 1997, 1.3 million con
sumers filed bankruptcies with
an average debt of almost
$36,000. Family debt is an enor
mous problem in the United
States, and it not only affects
our pocketbooks, it affects our
marriages, our ability to parent
well, and physical health.
Studies record that consumer
borrowing has jumped 52 per
cent while savings have shrunk
23 percent over the past 25
years. United States consumers
save less than half of what con
sumers in Britain,' Germany,
Belgium, France, and Japan
save! It’s time to fight )>ack.
Cooperative extension aeross
the United States, and now here
in Pennsylvania, is sponsoring a
program, "Money 20G0." 4 Xhe
JULY 25, 1998
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goal of the program is to help
families either reduce their debt
by $2,000 or increase their sav
ings by $2,000 by December 31,
2000. We think families want to
fight debt, but they need encour
agement and ideas about how to
do that.
For instance, a family could
save a significant amount of
money by adjusting their car
insurance coverage. Make phone
calls to several agents and com
pare prices on similar policies.
Increase your collision
deductible from $250 to $5OO qr_
more. Both these actions could
save you money. Then apply the
saved money to an outstanding
credit card bill or place it in a
savings account. You have just
fought back against family debt.
A consumer can do the same
SPECIAL SUMMER ISSUES
price-shopping for mortgage
rates, car loans, or phone ser
vices. I recently asked to have
my long-distance carrier change
by calling plan, and it saved me
about $lO in the first month.
That's 10 that I can save for new
furniture or shutters for our
home.
Comparison shopping is one
way to "find" money to save.
There are some other ways to
trim expenses. Consider the
transportation portion of your
family budget. In the summer
time when it is nice weather, can
your children ride bikes or walk
to a neighbor's instead of asking
you to drive them? Can you car
pool to the little league game or
church? Put the amount of cash
that you normally spend each
month for gasoline in an enve
lope. Begin making deliberate
choices to drive less. At the end
of the month, put the money left
in the envelope in your savings
account or apply it to an overdue
bill.
A simple way to reduce your
grocery bill is to drink more
water. Instead of the soda, iced
tea, fruit juice or coffee, drink
water. Put the change you saved
in a jar and roll the coins at the
end of the month. If you are a
coffee drinker, fill up your travel
mug at home instead of swing
ing by a mini-market each
G PROGRESS DAYS
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AUGUST 15, 1998
morning. This may help you
"find" $1 to $2/day to fight fami
ly debt.
Another way to reduce
expenses is to pack picnic lunch
es for your family vacations and
outings. Even if you purchase
one less meal at a restaurant
than normal, that's money
saved. Check out last year's
expenses (or guess at how much
you think you'd spend eating
out). Put that money in an enve
lope. Now buy drinks (or take
water) raisins, sandwich meats,
veggies, apples, etc., at the gro
cery store using the money in
the "vacation food" envelope. Fill
your cooler and hit the road. If
you have money left in the enve-
0 4-H
HAPPENINGS
4-H Community Club
To Host Roundup
The annual roundup of the Elm-
Penryn 4-H Community Club will
be held indoors at Pleasant View
Retirement Community, Man
heim, on Saturday, July 18 from 6
p.m. to 8:30 p.m.
Club members have planned a
Gas jS&k
Stoves^^P
AND
1060 Division Highway
322 East, Ephrata, PA 17522
y CLOSED SUNDAYS, NEW YEAR,
Jf EASTER MONDAY, ASCENSION DAY,
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BUS. HRS. BOX 57
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FRI, 8-8, SAT. 8-12 BART, PA 17503
Lancaster Fanning, Saturday, July It 1998-B3
lope because you picnicked
instead of eating out, take that
money to the bank!
These are just a few simple
ways to fight back against fami
ly debt. The savings may seem
small, but if you are able to save
between $2 and $3 a day by tak
ing simple steps, you will be able
to save $l,OOO in a year. And if
you apply that $l,OOO to overdue
bills or a credit card balance,
you will save yourself LOTS of
interest payments. It’s worth
the effort
If you'd like to learn more
about the "Money 2000" pro
gram, contact your local exten
sion office for information.
fun-filled evening to culminate the
1997-1998 club year. The public
is encouraged to attend this event
A variety of games for the
young and young-at-heart will be
led by club members. Items from
club projects such as basketry,
rubber stamping, photography and
more will also be on display.
Members who have completed
their projects) and met the club
requirement will be presented
with a certificate of recognition
during an awards ceremony which
will close the event.
For more information about this
event or about the Elm-Penryn
4-H Community Club, contact or
ganization leader Cindy Stahl at
(717) 664-2055.
Fireplaces
1 Block Bast of Rt. 222
(717) 733-4973
800-642-0310
www.bowmantttovt.coin
Mon, Tun, Wad 10 to 6. Thurt
Fri 10to«,Stt 10 to 4