Money and Finances Archives - Page 56 of 66

I’m So Glad I Spent Money On…

May 6, 2015 | 1 Comment

There have been many instances in my life where I kick myself for wasting money. Sometimes it’s not really a big deal but there have been times I’ve wasted hundreds on crap that I either didn’t need or wasn’t exactly what I was looking for. I’m happy to report though there have been times that my husband and I have spent a few extra dollars on something and it’s been well worth it. With a family to look out for we’re especially cautious with our money.

Our Mattress

We were sort of fortunate that when our apartment flooded we were given a substantial replacement cheque for certain items, including our bed. The bed that was ruined in the flood was purchased for $100 off a friend. When we were handed a $3,000 cheque to buy all new bed and bedding we were excited. When we went bed shopping we didn’t look at price initially but went by feel. Thankfully the bed we fell in love with was on sale and rang in at $1,200. It’s worked out very well for us.

After owning it for about three years we noticed some deformation on one side of the mattress but because it was covered under warranty they replaced it zero questions asked. Many years later and we’re still happy with the purchase.

Engagement Ring Warranty

I’m so glad I wasn’t with my husband when he bought my engagement ring, though I would have talked him out of it, I’m so glad he got the extended warranty on my ring. I think he paid an extra $140 for the lifetime warranty and I have used it at least 10x over this price. The warranty includes all sizings, repairs, scratch removals, lost diamonds, you name it and it’s covered. In the last eight years, I have had my ring sized (no joke) probably six times, rhodium plated (redripping in gold to remove scratches) probably 10 times, repaired twice and cleaned a bazillion times. All the work I had done would have cost me at least $1,000 and thankfully I paid zero dollars. It’s been a huge help!

Treadmill

About five years ago my husband and I were trying to decide if we wanted to re-join a gym. Instead of joining we decided to save our money and buy a good quality treadmill instead. We looked for sales and in the end found a $3,000 treadmill on sale for less than $1,000. It has worked out very well for us and it gets used regularly, especially in the winter! I was worried it may become a place for clothes to hang but I’m happy to report we use it. Especially with a young child it’s nice to have the ability to get some exercise in without being required to leave the house.

I love looking at a purchase and knowing we made a good decision. We work hard for our money so it’s nice to see it being used and enjoyed.

What are some of the best purchases your family has made?

Catherine

Catherine is a first time momma to a rambunctious toddler. When she isn’t soaking up all that motherhood has to offer, you can find her blogging over at Plunged in Debt where she chronicles her and her husbands journey out of debt. You can also follow her on Twitter.

plungedindebt.com

10 Inexpensive – but Priceless – Gifts for Mom for Mothers Day

April 25, 2015 | Leave a Comment

Mother’s Day is just a couple of weeks away!

Some Moms love flowers. Some Moms love jewels. Some Moms love candy. Some Moms would just love some piece and quiet — at least for one day. I’ve got great news for all of you, who are trying to come up with a Mother’s Day gift. You honestly don’t have to spend a lot of money, to let the special woman in your life know that she is loved and appreciated.

Nope! You really don’t. That’s the great thing about Moms they love anything their kids (and hopefully their husbands) give them, even weeds from outside.

My boys gave me weeds they thought were flowers. These sat in a cup, in my kitchen for over a week. When I finally threw them away the boys asked me where they went. After I explained that they were all wilted and I had to throw them out — they promptly set off to get me some more. Aww!

Since I am a Mom, I have a Mom, I’m friends with lots of Moms and I worked in the retail industry for many years — I guess I would be considered and expert on the subject, of what makes a great Mother’s Day gift. This is why I have decided to share what I know, with anyone who might be having a hard time coming up with the perfect gift.

Below you will find a list of some really fantastic – if I do say so myself – ideas. I am very confident that there is something for everyone here and that there will be at least one item on this list to fit your budget.

1. Kids’ Hand Prints

Moms love anything that are handmade by their children and it’s especially sweet when it contains the child’s hand prints. This can be as easy as using some paint and construction paper to make a beautiful card. The hand prints can be used to make a wreath or flowers.

2. Give Mom a Day Off

We love being with our kids but sometimes it’s just nice to take a day – or even a few hours – and spend it anyway we would like. So a nice thing to do might be get her a gift card to one of her favorite places. It doesn’t have to be expensive just something you know she would enjoy. Or you can assemble a homemade gift certificate that she can redeem -to spend some time – doing whatever she wants.

It may sound silly. You may think “She can take time and do whatever she wants anytime. She doesn’t have to have a gift certificate for that.” For some Moms, they may feel guilty taking time for themselves, or they just don’t do it. If this sounds like someone you know, then this is perfect. If you get a little bouquet of flowers to go with it — that’s even better!

3. Have Her Car Detailed

The car is mom’s mobile command center – she’s driving the kids around all day long, and chances are they aren’t the cleanest bunch. Things spill. The car gets dirty. And mom just doesn’t have time to clean it up all the time. Even when she does have the time, it’s not likely at the top of her list.

There are a lot of ways to get the car detailed – you can do it yourself, take it to a car wash, or even take it to the car dealer. We recommend the car dealership because they detail cars everyday, they usually do it very well, and the prices are very reasonable.

4. Make Mom Feel Special All Day

Let her sleep in, make her breakfast, leave the house or get the kiddos outside for a bit so she can get ready for the day, in peace. Try your best to make the whole day revolve around her. Do whatever it takes to keep things as stress free as possible. The rule for the day is that Mom isn’t to do any household chores. She’ll probably try, but keep it to a minimum. My husband did this for me last year and I really appreciated it!

Remember Catherine’s rant last year about What Mom’s Really Want For Mother’s Day? Yes, remember that.

5. Pamper Mom

There are so many thing you can get for Mom that are pampering. A great smelling bath set, lotions, candles, super comfy slippers, a gift certificate for a manicure and pedicure, etc. — just think about what she enjoys, and you are sure to come up with the perfect gift.

You can even combo this with #4 and give her a full day of pampering.

6. Have Kids Write a Story

Maybe it’s because I’m a writer, but I think a wonderful gift would be to help your kids make up a story all about Mom or Grandma. You can have them cut pictures out of magazines to illustrate the story, or they can draw their own. Depending on the ages of the children — this could get very interesting and fun. It will be a treasured keepsake and something she can bring out a read year after year.

7. Think Spring!

There is a very good reason Mother’s Day is in May and I think it is because – in most places – spring has sprung. All the flowers are in bloom and it is just a beautiful time of year. You can always run down to the local farmers market and pick up a beautiful bouquet of flowers — but they also have gorgeous hanging baskets and other flowers, plants, trees, bushes, etc. that can be planted and enjoy for many months — or for many years to come.

8. Photo Gifts

All Moms and Grandmas love photo gifts! There are so many things you can put together and it can really fit into any price range — photo mugs, photo books, mouse pads, office supplies, clothing, etc. I am featuring Snapfish for two reasons — 1. They run awesome deals! 2. They offer a 110% quality guarantee. They aren’t giving me anything to say this, I am just a really satisfied customer! Check them out. I’ve also used Walgreens and Costco with great success!

9. Jewelry

This may sound expensive but it doesn’t have to be. Sterling Silver charms are quite reasonable and can be placed on a bracelet or a simple silver chain. Craft stores also have beads – and other jewelry making supplies – so the kids can make something special that Mom or Grandma will love — and wear with pride.

10. Shower her with Love!

This should be the easiest, least expensive and most meaningful gift of all!!

“A mother’s love for her child is like nothing else in the world. It knows no law, no pity, it dares all things and crushes down remorselessly all that stands in its path.”– Agatha Christie

Do you have suggestions? What was your favorite Mother’s Day gift, you ever received? What was your favorite Mother’s Day gift that you have given?

Brian

Brian is the founder of Kids Ain’t Cheap and is now sharing his journey through parenthood.

Email • Google + • Facebook • Twitter

Sounds Like You Discuss Family Finances With Your Kids?

April 22, 2015 | Leave a Comment

I had a conversation with a woman I know recently about money and kids. She made a comment about hiding her income tax papers from her kids so they wouldn’t come across any details of her and her husband’s income. ‘’I don’t want them seeing our gross income and suddenly thinking we’re rich and they can have anything they want’’- she explained. She and her husband make decent income and she is doing her best to hide this fact from her kids. She is of the opinion that children shouldn’t be involved at all with their money.

She and I differ. I think kids should very much be in the know when it comes to family finances. They need to know and understand how money works and where else can they learn (multiple times), with the security that is home? Though I have learned quite a bit about personal finances, it was all self-taught, as an adult. In the situation of this couple, she has a learning opportunity with her kids to educate them. She can, and should, teach them how far money really goes.

I read something once that said the easiest way to teach kids about taxes is to eat 30% of their icecream. She can start with this point. Show her kids the number on paper and then show how much is taken away in taxes. Now there isn’t as much money, is there? Kids think $100 is a lot of money when in reality you’re only taking $70 home for every $100 earned and of that $70 it gets split between food, housing, savings, and family activities it really doesn’t go as far as a child may think and they need to see this, not be sheltered from all finances.

Saving is so important. Both Long term and short term savings goals are not only vital to financial success but help prevent debt- one of the most important financial lessons you can teach your kids. Even though it may be your retirement goals, kids need to see how much work it is to reach this goal. Maybe you’re saving for their post secondary, show them. Let them know how much of your money you put aside every year for their future goals.

Financial education is not something we can assume they will learn outside of the home. Unfortunately they don’t learn enough about it in school, despite it being one of the most important skills a child will ever learn. Kids will appreciate the trust you give them in discussing the family finances. There are many ways you can go about actually having the conversations and you can release as many or as few details as you want. I’m of the opinion that it’s a family unit and though there may only be one or two income earners the money if for the family, the more transparency they better.

Do you share financial details with your children? If so, how much detail?

Catherine

plungedindebt.com

5 Ways to Keep Family Costs Down

April 15, 2015 | Leave a Comment

A family, as a unit, is expensive. There are a lot of expenses when multiple people are involved and the costs add up- quickly. If you’re not careful these costs can bust a family’s budget but with a little planning you can find a decent balance. There are a few areas that are more obvious when it comes to the question ‘’where is all the money going?’’ but since being aware of it is half the battle you can try to avoid the creeping costs all together.

Meal Plan

Food is a massive portion of a family’s budget and meal planning is the easiest way to avoid going over in the food category. If you’re looking to keep costs down, meal planning is a must. Involve everyone in the family to make sure everyone has a say. You can also involve the older kids in the cooking of the meals they help plan.

Prioritize Extracurriculars

Most people have interests, hobbies and extracurricular activities. If everyone did everything they wanted all the time it would likely be much too expensive. Sit down as a family and prioritize what is most important to everyone and come up with a financial plan to keep both family members, and budget- happy. It’s not fair if one kids plays hockey, soccer, piano lessons and takes art classes but you tell kid #2 you can only afford for them to play soccer because there isn’t enough money left in the budget. Things need to be fair for everyone!

Limit Vacations

Vacations, especially ones that involve airfare, are expensive. Rather than trying to plan a vacation every year take some time off and enjoy cheap fun around home. Save the larger trips for every few years (if even that frequent) and find cheaper ways to enjoy time off. When (and if) you do plan a larger trip shop around and capitalize on reward programs as much as possible to keep costs down.

Shop Used

Certain things can definitely be purchased used, especially children’s items like clothes and toys. You can save huge amounts money by shopping around and looking online and in second hand stores. The speed at which kids grow gives a large selection of gently used great quality clothes and toys to choose from.

Limit Eating Out

Eating out is expensive especially when multiple people are involved. There are ways to do it (like capitalizing on kids eat free nights) but the best way to save money is to do just that- save it and eat at home. Save eating out for special occasions only and everyone will enjoy it much more when it’s an anticipated treat.

Though having a family has more costs than being single or a couple there are ways to avoid letting the family costs consume all your money. It takes a little planning and awareness but it is possible to keep family costs down!

How do you keep family costs down?

Catherine

plungedindebt.com

4 Ways to Get Organized for Tax Season

April 9, 2015 | Leave a Comment

This post is part of the TaxACT #BeatTheDeadline blog tour which shares tips on how to make tax time a smooth and easy process before the April 15 deadline. TaxACT provides the tools and guidance to help you confidently file taxes easy and fast. Do your own taxes today at TaxACT. You got this.

The tax deadline is quickly approaching and we all know that gathering up tax documents is half of the process when it comes to filing an income tax return.

Whether you’ve already filed your taxes or are still putting it off I want to show you a few different ways you can get (and stay) organized for tax season. Trust me, it will make filing so much easier.

Use an Expanding Folder or File Folder System

I’ve used an expanding folder for keeping my bills organized for years. It’s also an amazing way to keep your tax documents organized.

With expanding folders you can generally put tabs at the top of each section. This makes a great and super easy way to keep ahold of all of your tax documents.

You can make one section for income, another for expenses, and a third for investment documents, just to name a few. Since these sections expand so well they’re also perfect to hold the prior year’s tax returns.

If you’re not into the expanding folder another option is to just use regular file folders. You can keep all of your tax information in one folder or break it down by type.

Use an Income Tax Binder

Aside from the expanding folders I also have a thing for binders. Binders are an easily customizable way to stay completely organized.

To get started purchase a binder and tabs and then create sections for your individual tax situation. When documents come in just grab a hole punch and place them in the binder.

Go (Mostly) Digital

If you hate the idea of hanging onto a bunch of physical copies of your documents then consider going digital. You can scan your items into your computer and organize them in a folder on your desktop. This works especially well if you have a ton of receipts you’re keeping track of.

Just be sure to backup all of your data. You don’t want to lose everything you have in the event of a computer crash.

Use a Spreadsheet

In addition to using expanding folders and binders I also like to keep track of my income and expenses on a spreadsheet.

I record any applicable expenses all year long as well as all 1099 income. At the end of the year I know exactly who I should receive 1099’s from and how much they should be.

You can also create a spreadsheet to keep track of what tax documents you’ll be receiving and then check them off as they come. By doing this you won’t accidentally file your taxes before you have everything you need to report.

Get Organized, It Makes Taxes Easier!

Once you’re organized filing your taxes is easy.

If you still haven’t filed your taxes this year don’t worry, you still have time. Use the next couple of days to come up with an organizational system that works best for you and then get to filing.

If you can keep your system up all year long you’ll see how much time and stress you can save when tax season rolls around again.

Beating the tax deadline doesn’t have to be stressful. With TaxACT, everything you need to confidently prepare and e-file your taxes is right at your fingertips. You got this. File your simple or complex federal return FREE today with TaxACT Free Edition.

Brian

Brian is the founder of Kids Ain’t Cheap and is now sharing his journey through parenthood.

Email • Google + • Facebook • Twitter

Keeping Family Documents Safe

April 8, 2015 | Leave a Comment

Sometime between Christmas and summer I get an urge to clean and organize everything in our home. I think this comes from a combination of the influx of new gifts at Christmas (in with new, out with old), the fact that we spend more time inside in the winter so I’m surrounded by ‘’stuff’’ and the fact that come summer, I don’t want to do any of this so I want it done beforehand!

Things have changed for us a bit over the past few years. Since adding a child to our family suddenly there are a lot more important ‘’things’’ in our home. Things I want protected in the off chance something were to happen to us or our property.

Paper Documents

Passports, birth certificates, proof of insurance, you name it, if it’s very important we keep it in a fireproof safe. I thought about getting a safety deposit box but it seemed like more effort. I was lucky enough to receive a large safe from my in-laws for Christmas, which we use to all important original documents.

If it’s something you can have duplicates of (think insurance papers, not passports) scan them and keep a secondary copy on a computer or ideally in a cloud like Dropbox which you could access anywhere in the world.

Pictures

One of the things I am most thankful for in this technology age is digital pictures. I need to get better at backing them up but it’s a lot less stressful than only having that one single original picture like our parents. I have a memory card that I upload all my important pictures to which again, goes in the safety deposit box. I also like to print some pictures giving me an added copy.

Kid and Family Stuff

Though we couldn’t possibly keep every little craft or picture she makes us, there are some things she has made that I can’t imagine ever losing. I have decided I can’t let it get out of control though, I bought a small airtight plastic container to save these things in and once it’s full we need to stop or cut back. Though this wouldn’t be any good if we were in a fire or something alike, it’s safe from everyday ‘house elements’ and I also take pictures of my favorite, special crafts which again gets backed up.

Computer Stuff/Digital Life

External hard drives can be a lifesaver. You’d think I would have learned my lesson when my computer crashed in university, losing everything, but it took losing my computer full of non backed-up photos of my child to really learn the lesson. I now back everything up on an external hard drive- which again can go in the safe, or a cloud- which I have access to anywhere in the world.

Life is suddenly more precious when an entire family is involved. If a fire hit our house I couldn’t care less about our clothes, dishes or appliances but if I lost my first Mother’s Day card I’d be devastated. Kids put everything into perspective, keep your family safe and make sure your important things are protected!

How do you keep your family documents safe?

Catherine

plungedindebt.com

Why Your Family Budget Should Go Beyond the Month

March 4, 2015 | Leave a Comment

Most people I know budget monthly. I don’t do this. I like to have a forecasted budget at least six months in advance. With a family to care for, I feel it is especially important to budget beyond the standard one month window.

Forecasting a Family Budget

Kids have various needs. For example, I already know at the end of the summer we will be enrolling our daughter into dance class, if I waited until July to figure these how we’ll pay for this we might not be able to do it, I wouldn’t know until the time came. With a forecasted budget, I can input the classes into the budget and start making arrangements, months in advance.

You don’t have to have a set income to budget beyond a month. Both mine and my husband’s income varies each month but that doesn’t matter because regardless of how we budget we always budget worst case in terms of income and opt to use any overage for savings goals or debt repayment.

For us our daycare costs are also variable. We only pay for the days that she is actually there rather than a flat monthly rate. I know this is more unusual than most, but given the variability I need to be able to see how the difference in days affects us month to month. When our babysitter takes two weeks off in the summer, I need to figure out how to best allocate those funds. Our daycare costs can vary as much as $300 a month and I like to know before the month actually happens how the monies will be dispersed.

While some people may choose to budget these variable expenses differently, maybe but putting a set amount into an account each month for said random events, I prefer to budget the exact amount within our given monthly funds.

I also like that if I budget one amount but it ends up being more or less how that affects the line, months in advance. While spending $50 extra here and there might even out for the month, six months of doing so may leave you a few hundred short. With this in mind I can either decide to keep expenses the same or it gives me time to make more money.

When I input our family trip into our budget, along with other savings targets we set, I could see we were short a little but not until August. This gives me six months of budgeting to make up this difference and balance it. It also gives me time to look more closely at our current budget, maybe I should cut down the budgeted amount for Mother’s day and Father’s day to make up the difference or maybe I should pick up a few more shifts at work.

Financial security is so important when you have a family to care for and having a family to care for usually means your budget has the potential to be more erratic and you’ll need some flexibility. Budgeting in the future gives you much more flexibility than month-to-month.

How do you budget for your family?

Catherine

plungedindebt.com

Should You Buy Your Kid a Car?

February 25, 2015 | Leave a Comment

I have friends who, for their 16^th birthday received a car as their gift from their parents. This concept was totally out of the question in my house and most other friends, but there were a handful of kids growing up who were given cars as presents.

Depending on where you live, a vehicle may be a necessity to live your life; I’m not talking about you. I’m talking about the average suburban family who chooses to spend a bunch of cash (or in some cases financing!) to give their kid a car.

I Paid for My First Car

I didn’t need my own car when I was a teenager. My mom has a pretty decent work schedule that would allow me to have access to the car pretty frequently. I had a job and was required to help contribute to the gas used and I also gave her $25 per month to put towards insurance. To me this was fair.

I didn’t own my own car until I was 23 when it became a necessity with my university schedule. I had to be at clinic before any public bus could get me there from where I was living, and late nights at school were meaning me taking the public bus home alone and added a 50 minute commute (a drive I could do in 20 minutes).

When the time came for me to get my own (very used) vehicle I paid for it myself. I had a very limited budget but found a Toyota Corolla from an older man who couldn’t drive anymore. He sold it to me for $750, fully inspected.

We Won’t Be Buying Our Daughter a Car

When my daughter is old enough I don’t suspect we will be buying her, her own vehicle. If she wants one, we may help her in some way but it won’t be gifted to her without her asking and nothing will happen until she proves the maturity of owning a vehicle.

When she gets her first job, if she decides owning a car of her own is what she wants, then we will help her establish savings goals. It isn’t just the price of the vehicle, she will need to save enough for everything that comes with it (like plates, registration etc.). While we establish the budget and she is saving her money, she will still be driving with us in our vehicle where she will build her driving confidence. I also don’t want her owning a vehicle to take away all of her money because that’s just as irresponsible.

While we may help her financially, maybe matching a certain savings goal of her own, we won’t outright buy a vehicle for her sole use. In most cases I don’t think it’s necessary. It’s not like my husband and I plan on driving around town in $60,000 cars that we may worry she will crash either.

A car is a massive responsibility. Until she can afford the car, the maintenance, insurance and gas we won’t allow her to own one. I also want to have her build her confidence as a driver before owning her own vehicle. For these reasons ideally she waits a while before getting her own car.

Did you buy your child a car? Why/why not?

Catherine

plungedindebt.com

4 Personal Finance Tips for the Ages

February 23, 2015 | Leave a Comment

Money-making schemes come and go, but stalwart money management methods do not have expiration dates. Of course, it is wise to adjust your financial strategy throughout your life, guiding your efforts toward the greatest returns. But some financial tactics simply never fall out of favor.

Ongoing financial success builds off of solid fundamentals, so instead of focusing on passing fancy, the most disciplined money managers stick to the basics. Building and protecting credit, saving, and living a life you can afford are chief principles of effective money management, so these cornerstones are worth a closer look.

Live Within Your Means

Though it may seem like an obvious point, maintaining an affordable lifestyle is essential for anyone wanting to stay solvent. With a steady income and fixed expenses, cash flow is easily managed from month-to-month. Freelancers and self-employed workers may face greater challenges reconciling irregular income and spending, but even entrepreneurs find ways to balance their books.

It is difficult to manage finances on-the-fly, so the best way to account for your expenses is to track spending, and then create a budget. Treat your personal cash flow just like a business would, staying atop deposit income as well as outgoing payables.

To create a workable budget: First, divide your customary buys into manageable categories, to illustrate exactly where your money goes. Next, fill-in payments and other spending to create a sample snapshot of your finances. Use at least one month’s worth of data, but try to accumulate budget information for a full quarter (three months).

Once you’ve determined where your money goes, it is easy to reel-in savings. Though fixed expenses, like mortgages and other recurring payments may leave little room for cutbacks, discretionary buys like entertainment, travel, food, and fashion can be pared for positive financial gains.

Strive to Save

It is easier said than done for many well-meaning families, who make ends meet with little room for savings. Even small sums go a long way; however, as money set-aside mixes with time to produce positive long-term gains. Whenever possible, designate a monthly sum to add to your savings, perhaps taken aside from your paycheck. As savings grows, the dividends it earns also appreciates, compounding its value again and again.

Savings accounts have not been terribly profitable in recent years, with returns sometimes failing to beat the rate of inflation. And to make any progress at all, deposits must be held in fixed-rate accounts for a particular span of time, before gains set-in. To make the most of your savings, consider investments with greater upside potential, like stocks and other holdings.

Protect Your Assets

The recent mortgage meltdown shed light on personal financial security, as hundreds of thousands of borrowers faced foreclosure and default. Many lost everything they had worked hard to acquire. To increase your financial security, your debt-to-income ratio must be preserved within reasonable limits.

Insurance cover is another essential feature of your comprehensive financial plan. Without adequate home and car cover, your assets are at risk. And additional policies may be required to cover mortgages, unemployment, and even disability.

Plan for the Worst – Hope for the Best

Sage advice for personal money managers includes a contingency plan. While you hope never to call on your emergency scheme, having one in-place protects you from financial disaster. An emergency fund, for example, covering 3-6 months’ worth of fixed expenses, hedges against income lapses and ensures your bills are paid until conditions normalize.

In addition to cash reserves, keeping credit lines available further enhances your ability to endure temporary financial hardship. When credit accounts are pushed to their limits, on the other hand, interest pressure adds to your problems and the safety-net disappears.

Wills and other documents carry-on financial responsibility in the event of your demise. Maintaining the proper documentation protects your family members and ensures your financial resources remain available to them.

Financial security is a lifelong pursuit, requiring commitment and discipline. While each situation is unique, time-tested principles bring success to dedicated money managers. To ensure the best outcomes for yourself and family, maintain an affordable lifestyle and protect your assets. Savings and backup plans add extra comfort, preparing you to fend off unexpected financial difficulties.

Brian

Brian is the founder of Kids Ain’t Cheap and is now sharing his journey through parenthood.

Email • Google + • Facebook • Twitter

Where Are The Kids!? Missed Money Making Ventures

February 11, 2015 | Leave a Comment

Kids in my neighborhood, and seemingly every neighborhood of every friend and family member I know, are missing out on huge money making opportunities. What am I talking about? Shoveling snow.

Living in a winter climate, shoveling snow used to be a lucrative business for kids.

Growing up my sister and I actually asked for shovels for Christmas one year, not because we really wanted them but we really wanted the opportunity to make money using them. We used to go all around our block looking to see who needed help post snowfall. We would charge $10, $5 each, and save it all winter.

There wasn’t much competition in our neighborhood since we were the oldest kids by a number of years. Given that we had the monopoly on the shoveling duties we’d make out pretty well. Friends of ours a few blocks away would get frustrated since there were ‘more boys’ and could never make money. Each storm we’d make an easy $50. Sometimes our neighbors would have the driveway done but ask us to do the walkway around the house or help shoveling off the deck so they can let their dogs out a little easier.

Since my husband and I bought our house, almost five years ago, we have only ever had one kid offer to do our driveway. When he approached us as asked if he’d like help for $15 we gladly paid. It allowed us to rest and him to make some cash. He did a great job but we haven’t seen a single kid since. They exist since we see them on a daily basis playing outside, and we live within walking distance to three schools.

Kids are missing out on a huge opportunity to make some money (and help their neighbors out). There is nothing I’d like more some days than to be more productive with my time than pushing snow around.

There were three days of no school last week due to school/storm cancellations and not a single kid knocked on our door. Maybe I should put a sign in my window that I will pay upwards of $20 to have it done? Another lady I knew was due to have her baby any day and her husband was sailing at sea with the Navy, she posted an add via online classifieds begging someone to help with her driveway so she could get out ASAP when baby came, and it took her three days to get a response!

Simple tasks like shoveling snow, mowing lawns and selling treats at yard sales are a great opportunity for kids to start learning about money. How to earn it, how to manage it and all the work involved. Learning about money can never start too young and there is no better satisfaction that earning your own.

Do you encourage your kids to go out and earn their own money? Would you be encouraging them to shovel if they lived in a winter climate?

Catherine

plungedindebt.com

Valentines Fun For Kids

February 4, 2015 | Leave a Comment

I admit that I’ve never really loved Valentine’s day. I’m one of ”those” who believe it’s an over commercialized day which encourages us to spend money we otherwise wouldn’t out of guilt.

I won’t make my husband feel bad if he doesn’t show up at home with a dozen roses and chocolates and fully expect to cook dinner . I know a lot of people who love it though. They love everything about it, making reservations at fancy restaurants months in advance. Flowers delivered to work, roses at home and chocolate for dessert. While I don’t really ”get it” I respect that as long as people are happy, the over commercialized holiday doesn’t bother me.

Then I Had Kids….

A funny thing has happened since having a kid though. I love all holidays. I find myself wanting to celebrate every small holiday because I can make it fun for her. Kids love having fun and I love seeing my kid have fun. I’ve already bought her Valentines cards which she’s signed (scribbled all over) for her friends at daycare, and even bought her a little present. Something I never thought I would buy into, but kids just have so much fun with even the smallest of holidays I can’t help but have fun with it too.

Valentines day fun with kids doesn’t have to be outrageously expensive though! We spent a total of $15 and bought her valentines cards for friends, a small chocolate, some stickers and a toy she always sees in a particular store, which we got on clearance. There’s no doubt she’ll have just as much fun with the day as the kid whose parents may have spent significantly more money.

Here are a few fun, and cheap Valentines fun for kids ideas!

Start the day with all things red, pink, white and heart-shaped

I remember growing up, my mom once made us pancakes and cut them with a heart-shaped cookie cutter. I, to this day, don’t love pancakes but those heart-shaped chocolate chip pink pancakes were delicious! This would work for french toast as well. Adding a small drop of red food coloring in milk to make pink milk might be a fun idea as well. Paper doilies and sprinkling powdered sugar over the pancakes or toast also gives a pretty design that is sure to impress kids.

Special Treats

Every kid has a favorite treat. Spending time to make their favorite dessert or treat is a nice gesture. If you don’t have time (or baking skills) to make the treat pick it up in store.

Plan a family night in

Family fun doesn’t have to involve going out to spend more money. Spend Valentines Day with the family at home over a nice meal and some form of family fun. I plan on finding a few Valentines Day printables on the internet and giving the kid some crayons to go nuts with. She loves having us sit beside her and help her play with crayons. Might not be super romantic but she’ll have fun and when you have kids, as long as they’re having fun you’ll be happy!

Do you have any fun plans for your kids Valentines Day events?

Catherine

plungedindebt.com

How I Save: The Cost of Raising a Child

January 15, 2015 | Leave a Comment

This post is part of the TaxACT How I Save blog tour which teaches you ways to keep more money in your pocket. Last year, TaxACT saved America over $240 million on tax preparation. How much can you save? To learn more about tips and strategies on saving, click here.

I’m always blown away when the media reports that it costs hundreds of thousands of dollars to raise one child. The breakdown of this number usually contains an absurd amount of spending on things like clothing, entertainment, and food.

The truth is, unless you’re stuck with thousands of dollars in medical bills the cost of raising a child is not tens of thousands of dollars.

Here’s how I am able to raise two children for well below the “average” cost.

I Limit the Amount of Toys that Come in My Home

When my kids get new toys they’re usually interested in them for a maximum of two days before they get tossed aside. They have more fun playing outdoors than they’ve ever had playing with a toy. I think this rings true for most kids.

Kids do not need all the latest and greatest toys to be happy. It can be easy to go overboard but the truth is a handful is all they really need.

I Buy Clothes Secondhand

If you buy your kids brand new clothes and shoes every time they move up a size you’ll be spending a lot of money in clothes! That’s why we’ve opted to buy secondhand.

The truth is by shopping garage sales, thrift stores, and consignment shops I can get higher quality clothes for $1/piece than I would buying brand new from a retailer.

Shopping secondhand is not only a great way to save money but it’s also a great way to find quality.

I Take Advantage of Free Entertainment

While I do want my kids to have plenty of opportunities in life I’ve come to realize that the best opportunities don’t cost a dime.

The times where I feel our family is the closest is when we are enjoying each other’s company, usually outdoors. We take walks through the woods and creeks, fish, play in the snow, and make leaf piles. Other times we just snuggle up on the couch and watch a movie.

We don’t go on a huge family vacations or partake in other costly activities each year. We can have a good time together right where we are!

I Know a Want vs. a Need

Kids don’t need to go to Ivy League Preschools, wear brand new clothes, and be waited on hand in foot. All kids really need is love and stability and that’s something money just can’t buy.

While I completely understand a parent wanting to lavish their children with monetary gifts it’s just not necessary. In the long run you’ll be better off by having your kids work for what they want rather than handing them everything on a silver platter.

You can have a happy, healthy family without draining your bank account.