The Biggest Saver TV Show

1. Biggest aver
Television Show
October 2010

2. Concept
• Build awareness nationwide through a Biggest Saver TV show that
features some of the worst savers in America as they undertake
debt reduction and build savings
• Partner with a national TV network to broadcast the show to
millions of households across the country
• Winner has the highest percentage of debt reduction or highest
percentage increase in savings over course of program
• Winner receives monetary incentive to be placed into savings
vehicle – 529 fund, certificate of deposit or other
• Offer interactive, online activities for Americans watching the
program to begin their own savings programs
– Online pledge to save money, reduce debt
– Educate millions on the importance of good financial health

3. Meet the Smiths
Husband, age 40 – software developer, wife, age 39 – teacher
daughter, age 10, son, age 8
Both parents work, kids in private school

4. Smith Family Financial Goals
• 10 more years of private school tuition
• Annual family vacation
• Build emergency fund
• Fund retirement
• Pay for 8 years of college for 2 children

5. Smith Family Finances
• Income: $115,000 annual
• Emergency fund: $6,000
• Investments: $75,000
• Mortgage: $450,000
• Credit cards: $25,000
• Annual private school cost: $20,000
• Car payments: $600/month
• Utilities: $400 (cable, electric/gas, etc)
• Food: $400/month
• Savings rate: 4 percent

6. Meet the Browns
Husband, 53 – lawyer, wife, 50 – work at home, daughter, age 19
Husband works, wife volunteers, daughter in state college

7. Brown Family Financial Goals
• Continue to build retirement fund
• Pay down debt
• Pay off mortgage
• 3 more years of college for daughter
• Retire and travel

8. Brown Family Finances
• Income: $100,000
• Emergency fund: $15,000
• Investments: $400,000
• Mortgage: $100,000 left
• Credit cards: $15,000
• Student/parent loans: $12,000
• Car payments: $300/month
• Utilities: $300 (cable, electric/gas, etc)
• Food: $300/month
• Savings rate: 8 percent

9. Meet the Adams Family
Engaged couple, future husband, 26 – nonprofit professional
future wife, 24 – public relations professional

10. Adams Family Financial Goals
• Pay for wedding
• Pay off student loans and debt
• Plan for children
• Buy a house
• Begin saving for retirement

11. Adams Family Finances
• Income: $55,000
• Emergency fund: $1,000
• Investments: $2,000
• Rent: $800/month
• Student loans: $60,000
• Credit cards: $15,000
• Car payments: $300/month
• Utilities: $300 (cable, electric/gas, etc)
• Food: $300/month
• Savings rate: 1 percent

12. Meet the Williams Family
Husband, 62 – retired scientist, wife, 56 – nearly retired government worker
Three children already graduated from college

13. Williams Family Financial Goals
• Pay off mortgage
• Hit $1 million in retirement savings in 5 years
• Pay off children’s college loans
• Plan for medical expenses and long-term care
• Travel

14. Williams Family Finances
• Income: $70,000
• Emergency fund: $10,000
• Investments: $850,000
• Mortgage: $20,000
• Student/parent loans: $120,000
• Credit cards: $5,000
• Car payments: $300/month
• Utilities: $300 (cable, electric/gas, etc)
• Food: $300/month
• Savings rate: 6 percent
• Have been pulling from retirement already

15. Meet the Jones Family
Divorced father, 45 – project manager, two children ages 14 and 16

16. Jones Family Financial Goals
• Pay down consumer debt
• Rebuild credit score and savings following
divorce
• Build some savings for college
• Save for retirement

17. Jones Family Finances
• Income: $60,000
• Emergency fund: $0
• Investments: $80,000
• Rent: $500/month
• Child support: $900/month
• Legal fees: $5,000
• Credit cards: $20,000
• Car payments: $0
• Utilities: $100 (cable, electric/gas, etc)
• Food: $300/month
• Savings rate: 2 percent

18. Biggest aver – WEEK 1
• Identify family/individual financial goals
• Work through why each family/individual is in
debt
• Homework: Create a budget and identify areas
to save
• Challenge: Who can identify most areas to cut
expenses
• Feature celebrity financial expert

19. Biggest aver – WEEK 2
• Develop plan to reduce debt
• Develop plan to build retirement
• Homework: Cancel unnecessary expenses
• Challenge: Debt reduction/savings increase
update from each family

20. Biggest aver – WEEK 4
• Focus on adding additional income to pay down
debt
• Kids can find a job – babysit, mow lawn,
internships
• Evaluate skills and opportunities to freelance
• Homework: Identify freelance opportunity and
make $50 in a side gig
• Challenge: Who makes the most in a side gig?
• Debt reduction/savings increase updates
• Feature expert freelancer or entrepreneur

21. Biggest aver – WEEK 6
• Housing financial education
• Identify opportunities to refinance
• Homework: Each family to meet with
mortgage company to determine individual
feasibility and options for home savings
• Challenge: Debt reduction/savings increase
update from each family. Did anyone
refinance? How much did they save?

22. Biggest aver – WEEK 10
• Feature menu planning and grocery savings
• Discuss once-a-week or once-a-month family
cooking to engage whole family in food savings
• Homework: Clip coupons, buy generic and cook
all meals on one day
• Challenge: Who can lower overall food bills the
most in one month? Debt reduction/savings
increase update from each family
• Feature expert couponer

23. Biggest aver – WEEK 12
• Evaluate family taxes – withholdings,
deductions
• Homework: If appropriate, change
withholdings at work, increase take-home pay
to pay down debt
• Challenge: Debt reduction/Savings increase
update from each family

24. Biggest aver – WEEK 16
• Finale
• How much did each family save?
• What percentage of debt was paid down?
• Winning family receives $100,000 to be
deposited into selected savings vehicle – 529
account, certificate of deposit, basic savings,
mutual funds

25. Engage the nation in savings
• Online savings pledge
• Online/virtual savings buddies
• America’s vote to give $$ or challenges to
season participants - during season
• Downloadable budgeting tools
• Access to financial professionals
• Financial hotline
• Host competition for future seasons

26. Give back with financial education
• Host free series of financial education classes
to promote show, sponsored and provided by
TIAA-CREF
• Donate $$ to scholarship funds for nationwide
participation in savings
– $1 for every savings pledge or $0.10 for every
dollar saved by Americans

27. Biggest aver – Follow Up
• Feature Where are They Now? stories
• Feature online participants who saved a lot of
money

28. Innovation
• The Biggest Saver TV show brings to light the
very issue many people won’t discuss with
others – financial health, savings and debt.
• The program will feature real-life families as
they build savings and reduce debt.
– Viewers will be able to relate to real-life families
throughout the process

29. Feasibility
• Work with a national network to develop pilot
program and secure families to participate
• Create interactive, online activities to engage
viewers in building their own savings
– Online pledge, savings buddy, free financial
support

30. Effectiveness
• With the ability to reach millions of viewers through a
national network, the program builds awareness for
the topics of saving and debt reduction
• Highlighting diverse families with varying backgrounds
provides relatable content and discussion points for
viewers
• With calls-to-action throughout the show, viewers will
be encouraged to engage in their own financial health,
ultimately understanding where they are and how to
reach their financial goals.

31. Thank you.
Thank you for considering the Biggest Saver TV
show as a finalist for the TIAA-CREF Raise the
Rate Challenge.
Best of luck.