The Springboard 31-Day “Live Within Your Means” Challenge

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Agency Encourages Consumer to Spend Less and Save More

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Learning to live within one’s means is an essential money management skill.

For the month of July, Springboard Nonprofit Consumer Credit Management, Inc. (“Springboard”) is challenging consumers to put away their credit cards and live within their means. Established in 1974, Springboard is approved by the U.S. Department of Housing and Urban Development to provide housing and credit counseling nationwide. Springboard’s team of certified financial counselors has helped more than 2.4 million families rebuild their financial lives and realize financial health through confidential credit and debt counseling.

“Learning to live within one’s means is an essential money management skill,” said Melinda Opperman, Springboard’s senior vice president. “Consumers who have trouble meeting this challenge may benefit from professional help to better manage their finances.”

Springboard offers three steps to get started with the challenge:

1.    Spend less than you make. Look at net income versus expenses. Necessary expenses of mortgage or rent, food, utilities, medical needs and transportation costs come first. Also account for credit card and loan installment payments. Some expenses, like food and gas, can vary depending on personal choices.

2.    Don’t reach for a credit card. During the challenge, Springboard encourages consumers to try not to use their credit cards at all. If a credit card is used, be sure that the charge can be paid off within 30 days.

3.    Start saving something. For consumers who are unaccustomed to saving, starting small is a good first step. Even $5 or $10 a month will add up over time. The ultimate goal should be to save 10 to 15 percent of net income. Consumers should also save separately for periodic expenses that are not paid monthly but will come up, like auto tag renewals.

At the end of the month, consumers should evaluate how well they fared. Consumers who had trouble meeting the challenge might benefit from the services of a qualified credit counseling agency like Springboard.

About Springboard Nonprofit Consumer Credit Management, Inc.
SPRINGBOARD® Nonprofit Consumer Credit Management, Inc.(“Springboard”) is a 501(c)(3) nonprofit personal financial education and counseling organization founded in 1974. Springboard is a U.S. Department of Housing & Urban Development (“HUD”) approved housing counseling agency, and is accredited by the Council on Accreditation (“COA”) signifying the highest standards in the industry for agency governance, fiscal integrity, counselor certification and service delivery policies. Springboard is a member of both national industry associations, the National Foundation for Credit Counseling and the Association of Independent Credit Counseling Agencies. The agency offers personal financial education and assistance with credit counseling, housing counseling, debt and money management through educational programs and confidential counseling. The agency provides pre-bankruptcy counseling and debtor education as mandated by the bankruptcy reform law. The agency offers nationwide phone counseling services and has locations in California, Arizona, Nevada, New Mexico, Texas, Massachusetts, and South Carolina for in-person counseling sessions. Not all types of counseling are available in-person at all locations, please call for details. For more information on Springboard, call 800-449-9818 or visit their web site at

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