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New Easy Budget Kit is Introduced to Help Families with Debt, Spending - Family Financial Network offers easy-to-use budget workbook and software

With savings levels hovering at all-time lows, Family Financial Network is releasing its new Quick & Easy Budget Kit: 4 Steps to Manage Spending, Save Money, and Build Financial Security. Featuring a unique and easy-to-use CD, as well as an entertaining workbook, Family Financial Network’s Budget Kit couldn’t be arriving at a better time.

That’s because only six percent of those who owed taxes on April 15th actually budgeted for their tax bill, according to the Million Dollar Round Table. Some 21 percent said they had to sell stocks, get a loan or charge a credit card to pay their tax bill.

“With all their taxes paid, many consumers are now disappointed that their hard-earned money did not go towards the things that really matter to them,” says Jennifer Openshaw, CEO of Family Financial Network and frequent guest commentator on CNN. “But with records gathered and organized, now is the best time to decide what is important and to plan for next year’s spending. The Quick & Easy Budget Kit was designed to help those managing the family’s money to get a grip on their finances, ease stress and achieve important financial goals.”

The Kit features an easy-to-use CD and workbook, which can be used independently or together. The CD allows users to create more than one personal budget so that family members – such as a spouse, partner or teenager --- can also create their own budgets.

The Quick & Easy Budget Kit allows people to:
• Create, print and follow a customized budget in four steps
• Find out where their money is really going
• Cut spending without sacrifice using the unique “flexibility” tool
• See how their spending patterns compare to other Americans
• Free up money to pay off debt and save for retirement
• Get simple tips to save thousands

“Sex and money are still taboo topics for most couples,” says Openshaw, who’s been featured on Oprah to discuss her first book, “What’s Your Net Worth?”, now a Public Television show. “Yet it’s money issues that are the number-one cause of marital disagreements. I hope the Budget Kit will help remove some of the anxiety that couples face around money.”

The Budget Kit differs from existing books or tools in the following ways:
• A focus on managing spending – The Budget Kit is designed to address one of the biggest issues facing Americans – spending – not to be a comprehensive or complicated money management solution.
• A clear philosophy and approach to helping consumers spend less than they earn. This differs from most books and spreadsheets that simply ask the user to fill in the spaces without any clear guidance as to whether they are overspending.
• Easy-to-use software created for even the most inexperienced computer user, as well as a straightforward workbook.
• Personalized action plan designed to hold the user’s interest until they complete a realistic and detailed budget.

“More and more people are overextended and, in fact, are encouraged to go spend and spend,” says Openshaw, who has been featured on Oprah and who appears frequently on CNN. “This unique Budget Kit will, I hope, help bring Americans back to reality and ensure their paycheck goes toward the things they really need.”

The Quick & Easy Budget Kit can be ordered at www.amazon.com or at Books-a-Million bookstores.

Facts
• 67% of couples believe the most serious conflict in their first year of marriage is over spending money, according to a study by the Association of Bridal Consultants
• Financial concerns are a leading cause of stress and depression. 16 million Americans will be treated for depression in their lifetime. National Comorbidity Study, National Institutes of Health, Journal of American Medical Association
• Over 40% of US families spend more than they earn (Federal Reserve)
• 45% of all workers have total household assets, excluding their homes, of less than $25,000 (Employee Benefit Research Institute).
• Eight out of ten consumers expect to have less debt this year. Of those surveyed, 72% plan to limit credit card usage while 40% expect to limit ATM visits during 2004 (Cool Savings).
• 57% expect to put more money away in savings in the new year (Cool Savings) although .
• Strategies for saving more are varied: consumers will track spending manually or with a computer program (44%), sign up for direct deposit to savings account (39%), contribute to tax free retirement accounts through payroll deduction (37%) and many will just keep their cash in a savings/checking account (36%).
• Half of Baby Boomers aren’t saving enough to maintain their standard of living during retirement (Congressional Budget Office)
• 96% of all Americans will retire financially dependent on the government, family, or charity. (U.S. Dept. of Health & Human Services)
• One in seven families will file bankruptcy by the end of the decade (The Two-Income Trap)
Family Financial Network was recently formed to serve middle-income Americans by ensuring there’s a level playing field and providing unbiased, objective financial advice. It can be found at www.familyfn.com. Openshaw previously founded Women's Financial Network Inc. in 1999, now a division of Siebert Financial (NYSE:SIEB).
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