Ok, so I know I have been blogging about embarking on the wonderful journey of explaining money and budgeting to my kids. Well, turns out, it isn’t as easy as I thought it would be. It Is so hard to teach kids about budgeting when they have a very, very simplistic view of money.
Before you roll your eyes and say ‘I told you so!’, let me just say that I haven’t given up on this project. In fact, I enlisted the help of my mommy friends (who also happen to be Psychology majors) to give me some tips and ideas about how to do this without breaking my brain. Here is what I have come up with: THE PIGGY BANK SAGA.
Ok, I know. You are probably saying ‘but the piggy bank is old news’. Well, there is a lot of value in things that have lasted decades, and this little object is one such thing.
Some background to the idea behind the pig:
Turns out, the piggy bank has been in existence for apparently 4000 years and way before money saving websites like LoveMoney.com! Way back when, when every object was made of clay, jars were created to store money. These were called “pygg jars”, ‘pygg’ here referring to the kind of clay used to make the jar. By the 18th century, this object began to take the shape of its animal namesake and was made from plastic, plaster, or glass. Another explanation states that, based on German folklore, a pig is a symbol of good fortune, therefore a vessel for money in the shape of a pig means more wealth or coming wealth. Whichever history you believe, today the piggy bank is defined by Wikipedia as:
Piggy bank (sometimes penny bank or money box) is the traditional name of a coin accumulation and storage receptacle; it is most often, but not exclusively, used by children.
Here is a picture of a piggy bank (c’mon, humor me here).
Ok, so here is the idea. Take the generic piggy bank and have one for saving, spending, and donating. First of course, you need to define the terms. I use the most simplistic explanations so I would say something like saving is when we keep the money so that we will have enough to buy ‘x’ item. Thankfully my son and daughter know the word ‘buy’ so I don’t need to explain that term anymore. Donating would be giving and spending is using the money to buy ‘x,y,z’ items. Or someting along those lines, you get my drift.
I am thinking, and my mommy-psych major friends agree with me, that this will teach the kids the following things without the trauma of deprivation.
- One, it will give them the idea that there are different actions connected to money.
- The general idea behind saving, spending, and donating.
- The value of patience.
- The value of waiting for something.
- The value of effort for something desired.
Doesn’t it sound like a marvelous idea? It is so great when you can teach so many lessons with one simple thing. It is really easy to start on this project. The materials you will be needing are very inexpensive. All you need are three piggy banks, or one that has segregations. If you want to use separate piggy banks, getting the ones with see-through body is best as it give a visual picture of the theory/lesson/activity. See the pictures below:
Since the concept here is teaching about money and budgeting, you don’t really HAVE TO stick to the traditional piggy bank (although there are a lot of really cute ones for boys and girls these days). You can opt for other money carrying objects:
It does not really matter what you use, as long as you get the point of the exercise across.
Now, you also don’t have to go out and buy any kind of money saving vessel. You can use any old jar, tin, or container. A lot of my friends save the pretty seasonal tins for tea and use those for odds and ends. That would be perfect for this project. Similarly, you can use any mayo jar or cheese spread jar, create a slot for the coins and bills, and you have your pot! A suggestion to get the kids excited is to have them decorate their piggy banks. I know the idea of arts and crafts really gets my kinds excited and quite dedicated.
So, I hope you see some merit in this simple money-saving lesson plan.
Have fun!
Vicki
I don’t want to brag or anything but I’ve got to tell you that our electric bill has been very low for the past four months or so. It had nothing to do with me though. Here in the Pacific NW we had a fairly cool summer, which for some people was a huge bummer — but not for me. I don’t like being too warm anyway and even if I did, I sure couldn’t balk at the fact that we only had to use our air conditioning for one or two weeks total!
We have also had a nice fall. Not too cool and not too terribly rainy, so I actually didn’t even turn our heater on for the first time until a few weeks ago! Again, our electric bills have been outstanding and instead of dreading the bill, I’m actually excited to see how low it is (I know that sounds a little weird but it’s true).
Ah, but those glorious days are quickly coming to an end as we enter the colder months. I am so sad to say goodbye to low electricity bills but do I really have to? Maybe not. I have been thinking about ways to cut our heating costs so if nothing else, they don’t get as high as they did last year!
I don’t know about you but on our bill, the power company provides a side by side comparison of the current month and how much energy we used in the same month the year before. My goal this year is to try to improve on last year’s electrical costs. It always seems like we do worse and worse each winter but no more! Having a goal (and making a game out of it) is very motivating for me. So yes — once again, I accept my own challenge!
Now – in no particular order - here are some simple ideas to cut your heating costs:
(photo credit lowes.com)
1. Set your thermostat to a reasonable temperature. Listen, I am pretty much always cold but we keep our thermostat at a cool 68 degrees. If I’m too chilly I put on a sweater or something. It’s amazing just how much money you can save by knocking the temp down a few notches.
2. Have a thermostat with a timer. Before we had the boys we programmed our thermostat to drop the temp while we were sleeping. I’ve always been worried about the boys kicking off their blankets and being too cold so we just keep our thermostat the same temp all the time. Now there are two schools of thought on this issue: 1.) If you constantly have your temperature drop and go back up, your heater is working harder to and using more energy to get the temperature up to what it is during “normal” times. So keeping the temp the same at all times is best. 2.) Reducing the temp during times when you are sleeping or away from home saves a good amount of money because there is no reason for the house to be a perfect temperature when you aren’t awake or even at home. I don’t know which is right and if you do please off your opinions or information in the comment box below 
(Photo Credit www.lowes.com )
3. Make sure you have enough insulation. This can be in your attic, crawl spaces, walls and around hot water heater and pipes. If your hot water heater is inside your house it isn’t an issue but if your water heater is in the garage it is. Wrap insulation around your water heater and around the pipes so the water heater doesn’t have to work harder to keep the hot water hot. Another thing we learned when we had to replace our water heater is that you can get a foam disk that sits between the cold cement garage floor and your water heater which helps quite a bit as well.
(photo credit www.amazon.com)
4. For many people windows and doors are the main culprits of energy wasters. If you don’t have the money to replace windows and doors with energy efficent ones don’t worry, there are still some things you can to to help keep your heat in. Using thermal insulated curtains or liners on your windows can help cut heating costs. I also found a helpful how-to video from Home Depot about how to seal your windows and doors to prevent the cold air from leaking in. Purchasing a door and window draft blocker can be helpful in keeping your home warm and your heating costs low.
What are some ways you winterize your home to keep heating costs down? I would love to hear them!!!
Thanks for Reading!
Christie
Now that we here in the East have survived a week of nothing but cold and rain the sun is finally out! It was warm at about 70 degrees Fahrenheit and everybody was outside. The amazing thing was how much everything had grown during the week of rain! The grass had been cut right before the rain started and it was over the boy’s ankles already. Of course this then makes me nervous because of the ticks. There is always something to be concerned about.
With the grass and mud I have learned that even a 13 yr. old and a 10 yr. old are in their glory. But, it was also time to pull out the yard tools and get to work. There is always some pulling of teeth (so to speak) to get the boys to want to help. The preteen years are a bit of a juggling act. Ask them if they want to help and they would rather climb a mountain. Tell them they HAVE to help and then you get the “eye-rolling silent breathing gasp treatment”. Finding a happy medium takes not only a concentrated effort on the parents’ part but also amazing is the fact that these almost full-blown teens have the answers to EVERYTHING. And finally, the family is working as a team…sigh.
After getting the work done we all sit outside and relax. My 13 yr. old wants a dirt bike. My 10 yr. old wants anything with a motor. Again we have the “talk” about how if you want something you will have to work to earn it. They both answer at the same time that they know. If they KNOW then why do we need to have this discussion at least once a week?
So we are back to discussing how fast everything grows in the rain and the newest toys they now want/need. They are going to work for what they want and have asked for extra chores. This is going to last until the middle of the week when they have to be reminded if they want those things they need to do the chores.
Two things come to mind when I think about the day. My kids are growing and changing as much as nature has shown us today. As with the flowers and grass my kids need to be fed and guided and yes pruned back every once in a awhile.
Teaching my kids they have to work and earn what they want is very important. I want them to learn how it feels to have earned something rather than just have it handed to them. They will learn that if they really want something it is worth working hard for and in the end it will show them that they can do pretty much anything they want if they put their minds to it.
Do you give your children chores? Do they earn the money for the extra things that they want?
Before I begin talking about barbecuing - I feel it is important to note - that Memorial Day- which was once known as Decoration Day – is a time to honor all those brave men and women who have lost their lives serving our great country. The first Memorial Day was observed on May 30th 1868, when flowers were placed on the graves of Union and Confederate soldiers — at Arlington National Cemetery.
For many people, Memorial Day is also when they spend some good quality time – with friends and family. The holiday is viewed as the official kick-off of grilling season. Since Memorial Day provides a good number of us with a long weekend, this seems like the perfect time to get friends and family together – to eat, play and enjoy each other’s company. Like many Americans – you may be thinking of planning a Memorial Day BBQ. However, sometimes budget restrictions can make you feel like you can’t have people over – because you simply can not afford it.
Fear not! I have some great ideas (if I do say so myself) on how you can plan a fun and festive Memorial Day BBQ — and spend less.
{Tip#1} Save on Invites
It’s always nice to send invites but you don’t have to go to all the trouble – and expense – of buying invitations and mailing them out. In today’s world, there are so many ways - of letting people know – about the get togethers we are planning! Evite is one of my favorites! They have great invitations, for just about any occasion. Using Evite is not only frugal — but eco-friendly as well. You probably wouldn’t send wedding invites out this way, but for birthday parties - and other informal get togethers – it is just perfect!
If most of your friends are on Facebook– there is a great event application there as well. With Evite and Facebook events — it also makes it super simple for your guests to RSVP and for you to send out reminders. This will help to ensure that you get an accurate head count, so you can plan accordingly.
*In the invite, remind people to wear their sunscreen and to bring their bug repellent. These are two very important things to have for any BBQ!
{Tip #2} Save on Food
Hosting a BBQ potluck is another great way to save money on your Memorial Day celebration. If your friends and family are anything like mine, they are very thoughtful and always ask – or insist – on bringing something to the party. This is not only a kind gesture and money saver — it also helps take some of the stress of planning, off of your shoulders. The less food you have to prepare — the more time you’ll have to spend on other things, so you can enjoy the BBQ along with everyone else.
Keep it simple. Your guests don’t expect you to do anything elaborate. Grilling up burgers, hot dogs, and sausages — are just perfect for an event like this. If you can find a good deal on ribs, fish or other cuts of meat go for it — but you certainly don’t have to.
{Tip#3} Save on Decorations
Do decorations from parties past – linger in your garage, attic, or some other storage place? Awesome! Get them out, dust them off and put them to good use. There is no law - that I am aware of anyway - which states that you can not re-use decorations. While it might not be appropriate to use your child’s 1st birthday banner, there are other decorations that might work beautifully – even last year’s 4th of July decor will work quite nicely.
If you don’t have any old decorations to use, head you your local dollar store as see what they have on hand. If you don’t want to do that, you can just buy a fun table cloth and put some fresh flowers out – and you’ll be all set!
{Tip#4} Save on Entertainment
You don’t have to spend a lot to keep your guests entertained. Most people like to just sit around and chat – but if you want to add some other activites for your guests to do, there are a few ways to do this.
*Get out the board games or even a deck of cards and have some fun.
*Potato sack races? Why sure – that sounds like a fine idea!
*Host a scavenger hunt. This is great for kids of all ages!
*Do a good ol’ fashion egg toss. Hard boil the eggs if you like — or don’t hard boil them, this adds a little more drama to the competition
*Flag football! Just cut up some old t-shirts – or towels - for the flags and away you go!
*You can play croquet, volleyball, Frisbee or badminton depending on how much space you have. If don’t have these games, a friend or family member might.
What are you planning this Memorial Day weekend? Do you have some other suggestions on how people can save on these types of parties? I’d love to hear them!!!
Thanks for Reading and Happy Memorial Day!
~Christie
Well my daughters wedding shower was a huge success! We all worked hard to have things go off without a hitch and we had enough food for double the amount of people that were invited. I think people took home more than they actually ate at the shower.
Having a big event like a double bridal shower can also be very expensive but there are things that can be done to help save.
- Make your own invitations. K and I bought the blank invitations at the local large craft supply store. We were EXTREMLY lucky because we have a close friend who loves to make these things. I spent about an hour on the computer and couldn’t get the things lined up right. After about an hour of me trying then breaking out in a cold sweat K took over and that didn’t go so well. So in panic we called a friend.
- Buy bulk items that are not perishable long before the date. If you can hit the sales even better. Store it away and keep a list handy so that you know what you have and still need.
- Breath!
- Put cash aside for the “little” things that may be needed last minute.
- Breath!
Last but not least just remember to stay as relaxed as possible. These events can be very stressful and Moms get VERY tired. After it was all done and over and the kids were happy we are happy with the way it turned out.
The day before the wedding shower was the Royal Wedding. Did I watch? Oh yes, I did! I have a daughter getting married in August. Did I get emotional all by myself? You betcha! Oh, and Christie, I was thinking about you too. J
Want to know my last words while watching the wedding on my television? If the royal family can do it well then I can too!
If there is anything any parent these days knows, it is that a family really needs to save to make sure that there is extra money for the things that really matter. The economic slump in my country has been the norm for many years now. Here, it really is a matter of how much you are taught, how skilled you are when you leave school, how much schooling you get and the kind of schooling you get as well, that will help you in carving out that great future for yourself and for your family by getting that high paying-high reward kind of job. Now knowing this, know that education in my country is by no means cheap. There is public schooling much the same way there is in America wherein parents only pay a minimum amount for the education but, with the arguable exception of the State University High School, the quality of these schools is not good enough for a high paying job in the future. It is a cold, hard, unfortunate fact. Our schooling system is dying for improvements and the funding that will enable fantastic teachers to continue teaching…but that is another issue altogether.
That said, you can imagine how hard it is for parents to make ends meet. If you want quality anything, you have to pay- quality health care, quality education, quality housing. I do not know how it is in America but I do know that, in the United Kingdom for example, there is some support from the government. There is very little support for single parents as well (I think I have mentioned this before). So, if you are a single mom like myself, you will want 1) a good paying job 2) still decent work hours 3) to live in a good area of the capital city or in a good area in any of the other major cities across the country 4) a good budget. These are all essential in the creation of a base that will allow for giving children the right education and rearing they need to succeed. Does it sound medieval? Victorian maybe? Well, again, it is the cold, hard fact of life.
So, there are ways to cut expenses in a household that may differ somewhat from what those people who live in the U.S. or U.K. know.
1. Cut on electricity as much as possible- in my country there is one electric company and this electric company seems to increase and give rebates on electrical costs when they feel like it (it feels a lot like increases more than rebates to be honest). This is also a tropical country so you really feel only one of two things- heat or humidity. There are air conditioners in almost every viable office and a lot of homes can boast of one air conditioner as well. Naturally there is the refrigerator and television. Aside from this, there are households- those of middle income earners mostly- that also use such items as a rice cooker, toaster, coffee brewer, washing machine and dryer, iron, and a microwave oven. One way to cut on electrical costs greatly is to cut out all the peripherals and to keep only the essential and to use these really only when absolutely needed. So, in my house, I have gone back to basics. I use the old-fashioned pot to cook rice, I hand wash most of the time, iron once a week for a couple of hours maximum, nix the brewer, toaster, and microwave oven. Air conditioning use is strictly regulated to 6-8 hours a day only, and the rest of the day being cooled by electric fans. I keep energy-saving bulbs and try to shut lights whenever possible. I can say this works because this brought my bill down from a 7000 bill to a 3800 bill.
2. Create a grocery list that reflects your budget and stick to this- I do my grocery once a month for most things. I think most people will agree that, when you buy in bulk, it is cheaper. So I get bulk cereal and oatmeal, bulk milk, bulk kilos of meat and fish, etc. The things I reserve for weekly purchase are easily consumed items like eggs, butter, tea, and vegetables. After experimenting with half month grocery shopping and weekly grocery shopping, I have found that this is the best way to buy food that will last, on a budget. Here we do not have coupons or discounts so every peso counts. My kids, naturally, want everything every time I go to the grocery and this just isn’t realistically possible (I also really do not believe on giving them everything they want, every time and any time they want it). So I shuffle the items around a bit making the months menus very different. This way, I stick to the budget and the people in the house do not get bored. It is a trial for me to resist the urge to buy those perishables before the end of the week but sticking to the budget and the plan is a key element in making the whole thing work.
3. Save water- this is the easiest bit. This really just requires regulating your laundry days to three to four times a week. This is for many reasons. One, too much laundry at one time is taxing on the person washing. Two, the amount of water used for large bulks of clothes is a lot of water. Three, big batches of clothes may be too much for any extended clothes line to carry as well.
These are the three things I find I can control in order to have a budget that will include all the basic living requirements, the kids to go to good schools, and to have a family life as well however simple.
How do you cut costs at home where you live? Is it any different?
