Kids Ain't Cheap

But They Sure Are Worth It

5 Tips to Get Your Business Off the Ground This Year

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get your business off the groundToday there are so many businesses you can start for very little money. This has made being a small business owner a very popular choice – especially for stay at home parents! However, just because it’s easy to get your business up does not mean it’s easy to actually make money.

As a small business owner I can tell you that your attitude will most likely determine your outcome. However, there are also some technical aspects that you should pay close attention to along the way.

Here are five tips to get your business off the ground.

Start Small

Once you have your business idea you need to make a plan. I don’t mean the normal kind of stuffy business plan but instead you need to map out your expectations for your business over the next several years.

After you have your goals set you need to decide how you’re going to reach those goals. Make a list of small daily steps that you can take to get you in the right direction.

It’s better to take small consistent steps than it is to try and do too much and set yourself up for failure.

Get the Right Help

Having the right help is pertinent for business growth. Many small business owners make the mistake of trying to do everything themselves, which we all know just isn’t possible.

There are tons of places you can find good help for your business. If you’re a UK reader you can find necessary personnel through this service by posting a job. If you’re a US reader you can find virtual help online or advertise a job opening through word of mouth. The possibilities are endless. It is important, however, to have a very good screening process for new hires.

Having the right employees can catapult your business to success.

Be Consistent

Consistency is important no matter what business you’re going into. If you’re not consistent with your efforts then you’re not going to get very far.

Like I said above, your attitude will determine your outcome. You’re going to face plenty of ups and downs in your first few years of business. Your ability to preserve and stay consistent will help determine your rate of success.

Keep a Tight Eye on Your Financials

For a new business money can be tight. Remember, your business is an investment in your life. You need to be analytical when it comes to incoming and outgoing money.

Constantly monitor your expenses and income and determine if there are changes you need to make at various stages in your business.

Don’t Give Up!

It can take a while for you to get your new business off the ground. If you take small steps toward your goal every day, find a team, constantly monitor your expenses, and keep your consistency, you’ll make it.

Expect minor setbacks but if you can get past those everything will work out.

How Do You Control Money Given To Your Kids?

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What do you do when money is given to your kids? There are two options: make them save it or let them spend it. But, which is the right option?In the past people have given money to our daughter. Sometimes there was explicit direction given with the money, like deposit it in her savings account, and other times there I have been told to spend it on whatever she wants or needs and so my husband and I have gone out and done just that. Usually putting the money towards a need more than a want, she’s only 2.5, she doesn’t have many wants.

Now that she’s getting older though I will be allowing her to make some decision about how her money is designated. While I fully expect the first few times to be about buying the latest toy, it won’t stop me from explain the importance of saving some money too. If she does, great, if she doesn’t- it is her money.

Money to Be Saved

As she gets older I will stress the importance of saving more, but with some exceptions. Any income earned, like if she gets a babysitting job or part-time work doing something fun, I will fully expect that she contributes to her savings account and help save for something larger she may want or need, however I have no problem with allowing gift money to be spent however she wants.

Money to Be Enjoyed

Most money given as a present is expected to be enjoyed. While I would like if she saved some or all of it I have no problem if she decided to blow it all on clothes, toys or whatever else she wanted as she gets older. AS long as it is an informed decision.

If she empties her cash in a mall food court and couldn’t tell me where the money went, I’d have a problem but it would be 100% her mistake to make. If she convinced me she really wants something, and was given the money to buy something, I will totally allow it. At the same time if I notice after some time it’s something she isn’t using or was wasted money, depending on what it was, I would encourage her to sell it and regain some of the lost money.

It’s easy for me as a personal finance blogger to get all too excited about saving and keeping all money tight to the vest but I can’t forget that money is meant to be enjoyed. For a three year old, long-term savings isn’t quite as fun as the newest Elsa doll or Olivia book and I get that, as long as she is really enjoys it isn’t money wasted in my eyes.

I fully expect my children to make mistakes with their money. Mistakes made are often the best learning opportunities. I just hope most of the mistakes are made in the comfort of our family home before she moves out and has a full plate of financial responsibilities. Financial peace is about balancing wants, needs and responsibility as long as I can instill this, she should be just fine.

How do you decide how gift money given to your kids is ”spent”?

3 Ways to Pay for Your Christmas Expenses

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Worried you're going to bust your Christmas budget? If so, check out these three ways to pay for your Christmas expenses!Christmas can be a very expensive time of year. For most, waiting until November to deal with all the impending expenses won’t work and cause undue stress.

The easiest way to manage Christmas expenses for most is to start early. That is, immediately following Christmas! Yet after saying this, I find most people have a hard time thinking about the following Christmas before this one is even finished but arguably the easiest way to manage your Christmas cash is to set aside the money every month beginning in January.

An alternative is that you actually buy presents every month until December by taking the number of people you have to buy for and divide by 12. I have done both and personally prefer to save the cash every month.

Here are some other ways you can keep Christmas from blowing your budget.

Sell your stuff.

Opening an account where you can save any extra money is a great way to not interrupt your daily cash flow and still save for Christmas. Again if you start early and save year-round you may be surprised how much extra money you can come up with, especially if you hold a yardsale(s) in the warmer months!

Get a second job.

Though I never actually did this, plenty of my friends did. They would pick up a seasonal job that allowed them to bring in extra money and get discounts at some of their favorite stores. Conversely I had a friend who would get a second job at her favorite clothing store every year and buy almost her entire year wardrobe during her employment there, saving all of her clothing spending money year-round for Christmas.

Use extra paychecks.

My husband and I are paid bi-weekly but budget monthly. This means there are two months of the year where we’re actually paid more. Rather than budgeting this extra money in our monthly cash flow we opt to use it for one-off expenses, Christmas being one of them. One of our pay-periods is October or November depending on when payday falls and of that extra pay we take out our extra money and use a portion of it for our Christmas expenses. While this works well for us I understand it’s not for everyone! Point in case, we won’t be completing our shopping until middle of December this year. For some that may stress them out but we’re so used to it we’re both very organized and are able to go out in one to two trips and get everything accomplished.

Whatever method you use to pay for your Christmas expenses, the point is that you do whatever you can to limit stress on you and your family. Please also remember that not doing gifts can also be perfectly acceptable and don’t be afraid to suggest it!

Though I prefer our current method to all other suggested I’m curious to know how other people manage Christmas expenses. Where I’d rather not even think about it until at least November I feel like most people in my life prepare year-round, what do you do? Do you use different ways to pay for your Christmas expenses?

Why I’m Asking for Cash for Christmas in Lieu of Gifts for My Daughter’s

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This year we asked family and friend not to buy toys for our daughter but instead give a small amount of cash. Here's why.Christmas is fast approaching and almost every day I get phone calls and text messages asking about gifts for our daughter. Everyone wants to buy her something. Friends, grandparents, cousins, neighbours. She’s only two and half years old! There isn’t much of anything she actually needs and really she’s still too young to know if she wants anything. While we as parents can get away with it (i.e. before she’s old enough to ask for stuff) we’re asking that people limit or exclude physical gifts for her.

We as her parents take care of her wants and needs and I think we do a pretty good job. She has all her needs taken care of and more than enough ‘’extras’’ in her life in the form of toys, books, treats and special events. Selfishly I don’t want a house overrun with her toys and ‘’stuff’’ either. I think it’s important to keep the level of ‘’stuff’’ she’s surrounded with at a realistic level. While I accept that people like to buy things for her, she doesn’t need much and so I would rather have the cash instead.

Cash for Christmas

With a cash gift, instead of another stuffed animal or doll, we can do more for her. First we could invest it her post-secondary savings account. I would much rather have $20 invested for the next 16 years than a toy she’ll play with for a few days which we’ll then end up donating or throwing away depending on its condition. We could also put it towards a special event or experience for her. This coming year we have plans to enroll her into a few dance classes for example. I would rather see her experience something new and exciting that can really help form her as a child than a simple toy she won’t have much interaction with.

I’m not a total scrooge. I understand that for her toys are fun and we will be buying her some new fun toys and books to play with but if I allowed everyone person who has inquired our house would be littered with too much stuff. Too much stuff can lead to unnecessary expectations for her too. I don’t want her growing up with extreme Christmas expectations either. Gifts, though fun, are not the main focus of the season.

In me explaining that we would rather have cash (and/or books) in lieu of gifts has been very well received by people who have inquired. Once I explained what our plan was and why we wanted to limit the volume of gifts she got people seem more than happy to give cash in her name instead (one less gift for them to buy too!). People loved the idea of contributing towards something much ‘’larger’’ in terms of post-secondary or experience such as her dance classes. I have also accepted that some people (aunts and grandparents) genuinely enjoy buying things for her and that’s ok, as long as they don’t go too crazy 🙂

It is too easy to go overboard this time of year. I don’t want people feeling like they need to get her anything and if they do I just want to give the option of contributing to something more.

How do you manage request and gifts for your children for Christmas?

How to Get By On a Low Income

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how to get by on a low incomeSurviving on a low income can be difficult, especially if you have family members who are depending on you to provide for them.  To help you relieve some of the stress and help you manage your finances, here are a few tips from LILA for single parents and families to help make finances a little easier.

Budgeting

If your income is limited, it is important that you maximize what resources you have and eliminate unnecessary expenditures.  Creating and maintaining a budget will help you track what you earn and how you spend it.  Here are the basic steps to get you started:

  1. Make a list of all income, debt, and monthly expenses.
  2. Create a budget based on necessary expenditures and a plan to build savings.
  3. Track monthly spending to help you recognize your spending habits.
  4. Review your budget on a regular basis and make adjustments as needed.

Take Advantage of Entitlements 

The government offers a variety of programs that provide financial support for low income earners.  Depending on your financial assistance, you may be eligible for certain programs or entitlements.

  • To determine if you are eligible for government benefits, child support, or income support payments, contact via phone or visit the website sponsored by the government, looking at both state and federal.
  • If you are supporting a family, visit the state government website to see what they can do for you.

Shop Around for the Best Bank Account or Loan

Every institution offers a variety of financial products and services that cater to a wide income bracket.  The fees will vary greatly depending where you go, but if you are shopping for a basic savings or checking account, look for:

  • Accounts with no keeping fees
  • Free or online monthly statements
  • No required minimum deposit
  • No overdraft fees 

There are also several charitable organizations that help people make a financial plan to reach their savings goal.  If you are in need of immediate cash for vital repairs, services, or household items, then you may want to consider a FDIC cash program. These initiatives are designed to help low income earners and those receiving welfare benefits access the credit they need with no interest fees.

Get Control of your Bills

Debt is one of the greatest obstacles facing low income earners.  In order to stay ahead of your bills, here are a few suggestions to keep you out of debt.

  • Mark your calendar so you know exactly when your payments are due.
  • Build your savings by setting aside a small amount of money from each paycheck in case of emergencies or special expenditures.
  • Ask your utilities provider about “bill smoothing” to set up an installment payment plan.
  • If you receive benefits from the government, ask about personal finance assistance options, such as direct-bill paying service to help you manage your monthly bills.

Ask for Help

If you are in over your head or simply don’t know where to start, ask for the financial guidance you need to get back on track.  There are financial counselors who provide free services for those facing financial hardships.  These experts can help you establish a budget and prepare for the future.

No matter what circumstances you are in, there is always help available.  You do not have to face your financial difficulties alone.  There are people and services available to help make life easier and create a brighter financial future.

Best Ways to Stop Your Kids From Making In-App Purchases on Your Mobile

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Tips to stop your kids from making in-app mobile purchases Smart phones are truly amazing. Your very daily existence is defined by a hub of activity that emanates from your fingers and onto the digital senses of your mobile friend. Calls, text messages, social networking, news, games and books are just some of the uses you get out of your smart phone during an average day.

With so much of your day consumed by this device, it’s unsurprising to learn that a recent study found that a smart phone user will check their phone nine times an hour on average. Unfortunately, along with the joys that a smart phone brings to your life, you also have to be wary of certain pitfalls. One of the potential issues that you should be aware of is leaving your phone unattended, particularly if you have children.

Much like adults, children love to constantly play with smart phones and tablets, and with hundreds of apps available, these devices are an invaluable way to keep them entertained and even educated for hours. However, the tendency of children to play with their parent’s smart phone devices unsuspectingly has started to land some people in murky financial waters.

Recently, some parents were face with large iTunes phone bills, as their children had unwittingly downloaded apps and in-app purchases. This ongoing issue resulted in Apple agreeing to fund at least $32.5 million (about £20 million) to those parents that had accrued enormous bills though in-app purchases in the US, as part of an agreement to settle a complaint from the Federal Trade commission. In this settlement, Apple was required to change its billing practices in order to help prevent the above mentioned scenario from reoccurring in the future.

If you have an Apple device, there are steps you can take to prevent your children from unintentionally purchasing unwanted apps on your phone and running up high bills. You’ll have such peace of mind once you’ve followed these steps, which you can even get Euro Palace on your Mobile and not worry about other family members playing online games without your knowledge.

Here are useful tips:

Enforce better restrictions

You should be aware that, when you enter a password on your Apple device, the password will not have to be entered for another 15 minutes. During this period, children could accidentally download expensive in-app purchases.  To prevent this from happening, go to Settings, tap on General, and then on Restrictions. Change the Require Password setting to Immediately. This will ensure that your children will have to type in a password before any in-app purchase is made.

Restrict or turn-off access to apps

You can also ensure that your child doesn’t download any apps by going to the Restrictions menu and changing the Installing Apps slider to off (will turn from green to white). You also have the option of turning off in-app purchases completely from this menu, by looking for the on/off slider towards the bottom of the restriction options.

Turn on device pass codes

Children can inadvertently purchase apps from any website. It is therefore advisable to set up general device pass codes that will prevent them from being able to access the phone at all. To set up this pass code, you simply need to go to Settings, tap on General, and then tap on Pass code Lock and Turn Pass code On.  Slide Simple Pass code to off and you’ll be able to type a word rather than a default 4-digit number.

Create a new Apple ID

If you have children over 13, Apple recommends that you should create an individual Apple ID for them. This will ensure that your child’s Apple ID does not have a credit card on file, which means that there won’t be money in the first place for them to spend.

4 Tips for First Time Home Buyers

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first time home buyersBuying your first home is an exciting time. The thought of looking at houses and finding that one house that you love is an amazing feeling.

But soon after you start your home search you begin to realize that being a first time home buyer comes with many responsibilities. And since buying a house will probably be the biggest purchase of your life you need to do things right.

Here are four important tips for first time home buyers.

Save a Large Down Payment

Your number one goal in purchasing a house should be saving a large down payment. There are three reasons why:

  1. If you don’t put at least twenty percent down on a home you’ll be stuck paying PMI. PMI, or private mortgage insurance, is simply insurance covering the bank if you default on your loan. It’s an extra expense to you and you need to avoid it.
  2. Many banks won’t loan money unless you’re able to put a large down payment on the home.
  3.  The more you put down on the house the less you owe. That might seem like common sense but is often overlooked. In today’s economy where jobs are uncertain it’s important to be financially prepared.

Don’t skimp on saving. I know that you’re anxious to buy your first home but you need to be financially prepared first.

Get a Fixed Loan

When it comes to mortgages there are two common types: fixed loans and adjustable rate mortgages.

With an adjustable rate mortgage your interest rate, and therefore mortgage payment, will change. And since interest rates are currently at an all-time low, chances are your ARM will only go up.  Fixed rate home loans make planning payments easier and allow you to budget more effectively for the future by locking in a set interest rate for a specific period of time.

Check Insurance Rates as Soon as Possible

The property tax and home owner’s insurance need to be factored into the cost of your home. And I’ve found that first time home buyers are often shocked at the price of homeowner’s insurance.  For instance, if you are purchasing an older home that is not near a fire department your cost of insurance will most likely be high.

Check insurance rates as soon as possible. You don’t want to be surprised by the cost when you go to close on the home you chose.

Get a Home Inspection

Last, but certainly not least, you need to get a home inspection.

Just because a home looks sound doesn’t mean that it is. A home inspector can take a look at the house and find issues like electric, plumbing, or structure that you’re not going to catch.  Home inspections typically cost a couple hundred dollars but are worth every penny.

Conclusion

Buying a home is exciting. But if you want to make a smart purchase you need to be prepared. Start saving for your home well in advance and check on all the other costs like interest rates and insurance. The more prepared you are the higher your chances of being a successful first time home owner will be.

Why Your Family Absolutely Needs an Emergency Fund

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emergency fundIf you don’t already have one I’m here to tell you why you, especially with  family to care for, you absolutely need an emergency fund established.

My husband is currently in a precarious position with his job. There are some possible issues on the horizon regarding the stability of the company and the direction he’ll go in professionally. He is well-liked and educated in his area of work and I know he’ll land on his feet but the thought of something happening while he’s lining all his ducks in a row scares me. We can’t afford to have him off work for more than a few days at this point in our lives.

We are not currently in a position to have a large emergency fund of the standard three to six months’ worth of expenses. While we’re working on paying off the rest of our student debt and car loan, we have a small emergency fund that won’t float us more than two weeks if something does happens to his job.

Losing a Job

Reason #42764 I want to get this debt paid off is to beef up our savings so if we’re ever in a situation with one of our jobs we don’t have to worry. Especially when children are involved you need to be prepared for the possibility that something may happen to your employment situation regardless of how secure your job may seem. Unforeseen circumstances are always a possibility. You need to be prepared if your financial safety net (ability to bring in income) come out from underneath you.

Medical Emergencies

The second biggest reason why your family needs an emergency fund is medically related. We always hope something doesn’t or won’t happen but bad things happen to good people all of the time and you need to be prepared. There’s nothing worse than having stresses, especially financial, on top of being sick or caring for a sick family member. There is a local family of five and both parents, within two weeks of each other, were diagnosed with two different forms of cancer. Life isn’t always fair. They have managed to rally the community together to help the children in any way possible because the family has a long road ahead of them. With a proper emergency fund in place the parents can focus on overcoming this illness rather than how they’re going to afford the childcare bill or keeping the house warm this winter.

It doesn’t have to be as dramatic as getting diagnosed with cancer though. My husband was diagnosed two years ago with something that requires regular medication, the initial few weeks of medication and supplies, even with private insurance, still cost us a few hundred, un-budgeted for, dollars. It was after this diagnosis that we started saving for our emergency fund. The stress of the unknowns, and how it could possibly effect his ability to work (leading to decrease in pay) was enough to scare me.

Life is unpredictable. No matter how well you forecast, there will always be unexpected expenses, if you have the funds in place to pay for them you can move through life relatively stress free.

How to Talk to Your Family About Life Insurance

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life insuranceLife insurance is an important financial tool meant to protect your family in the event that something happens to you or your spouse.

And when you have kids to watch out for life insurance becomes a must-have. But talking about life insurance and the kind of coverage you need can be a tough topic to bring up. No one wants to think about leaving their family, but unfortunately that will day will eventually come.

There are too many times when a family loses a loved one who was once responsible for the financial well-being of the family with no life insurance. In these cases the family suffers not only mentally and emotionally, but also financially.

If you want to keep your family protected but need to figure out a way to bring up life insurance here are some ideas.

Talk About the Future of Your Children

As parents we all like to think about the future of our children. And as a responsible parent you can recognize that finances play a part in a bright financial future.

While you and your spouse are talking about the future of your children bring up the idea of a will and life insurance. Talk about what would need to be done if something happened to one or both of you. Who would take care of your children? How much money would you need to leave?

Calculate how much money would be necessary to cover all of your debt and to leave money for expenses, like your children’s college education.

Set Up a Meeting with Your Insurance Agent

If you feel like you and your spouse have a lot of unanswered questions then call your insurance agent and set up a meeting.

Your agent can answer all of your questions, provide you with quotes, and help you calculate how much money you need to stay protected. Talking to an experienced advisor can help your feel at peace with the decisions you make.

Bring Up Some Statistics

State Farm recently conducted a survey on life insurance with some pretty interesting statistics. For instance, when asked if life insurance has been an important part of their family’s financial plan for generations, almost half (48 percent) of Americans agreed and 22 percent strongly agreed.

Another interesting insight from the survey was that parents of children under 18 are more likely than those who aren’t parents of children under 18 to say life insurance is an asset (58 percent versus 47 percent).

You can find more results from the life insurance survey on Good Neighbors. These points can help you spark a conversation with your significant other.

Getting Protected Isn’t Hard

Unless you have a health issue life insurance isn’t terribly expensive. Regardless, it should be a line item built into your budget and looked at as an asset rather than an expense.

As a parent you shouldn’t leave the fate of your children in someone else’s’ hands. Life insurance can help you map out a plan for your family’s futures.

Have you made life insurance part of your family’s financial plan yet?

Disclosure: This blog post was written as part of a sponsored program for State Farm to raise awareness about the importance of life insurance. All views expressed are entirely my own, and were not influenced or directed by State Farm. You can learn more about this blogger program and life insurance at GoodNeighbors.com, PlantingMoneySeeds.com, and by following #StartLiving on Twitter.

3 Creative Ways to Save for Your Child’s College Education

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saving for collegeWhen my child was only five weeks old we opened a registered education savings account for her.

Neither my husband or I had any financial help for our education from our parents and ended up taking on significant debt to pay for it. While our intentions are not to pay for everything she may need for post secondary education we will be saving and contributing to it somewhat.

What we save is what she will have at her disposal, we won’t be compromising our own financial goals to pay for her education but that doesn’t mean we won’t still be able to contribute a decent chunk of money towards her savings. It just means we have to get creative.

Here are three ways we’re saving for our daughters college education.

Ask For Money

Given that she is the first child born into the family in quite some time, she is well taken care of.

People love to buy her little gifts and shower her with affection. There is very little she actually needs as so we have made it very clear that especially while she is still so young and doesn’t know, that rather than people giving her unnecessary toys or gifts, that they contribute to her post secondary fund instead.

We would rather the $10-$20 invested and gaining compound interest for the next 16-18 years than a toy she will play with for a few days before it gets lost in the shuffle. While some people aren’t comfortable with giving money (and that’s fine) most people are more than happy to not worry about what to get her and hand us a little cash to deposit on her behalf. This saves mom and dad on toy space and helps contribute to one of the best gifts she’ll ever receive, a good education.

Sell Their Stuff

Some things we’re holding onto for potential future children but other stuff we plan on selling. We just don’t have the room to store every item of clothing or every toy that enters our house. Given that these things were purchased for her, the money made from the sale should be reinvested into her. In our case we will be putting monies gained from selling her stuff into her education fund.

Have Them Save Their Own Money

While she’s so young we obviously manage her money now but in the not so distant future she will be managing her own. Birthday gifts, babysitting money and part-time jobs will give her a cashflow she will need to manage herself (with our guidance obviously).

Once she starts being responsible for her own money it will be important that she starts saving for things she wants, especially her education. We will teach her the importance of helping save towards her own goals, even if they seem impossibly far away. While she’s a kid living under our roof there will be very little that she will need so it will be expected that most of her money go into savings. I’m confident she will thank us on her graduation day!

Though not every kid pursues post secondary education it is money that needs to be in place in case they do because it can be a very costly venture if there are no funds in place, trust me, I know.

How to Find a Decent Job

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decent jobYou found yourself unsettled, whose fault is this?

You are unemployed and in vain for quite a long time tried to find the job that would satisfy at least some of your needs. Don’t think that this is your fault, you’re not the only one. The situation on labor market remains unstable and fluent. And these days the level of unemployment remains high and tends to grow. It doesn’t mean that the state ceased to need qualified specialists or simply working force. The current economic and social situation dictates new rules of labor relationships that lead to massive turnover due to failed adaptation. Today one must be flexible and alert to keep one’s place and rely mostly on own recourses. Here comes the age of individuality.

What to do to get out of unemployment.

Once you decided what you need in life you have to think about the ways to get it. To make stable your future first stable your present and clear all your demands. Check your abilities and opportunities to apply them in order to receive a deserving reward. Remember that your place of occupation must not only implement your talents and bring sufficient income but also describe you as a person. This is the right way to be satisfied with what you do and experience personal growth not constant fatigue and yearning on the week-ends. If you agreed to less than you had planned soon you’ll have to search for another job and start all from the beginning.

Some vocations however are predisposed to professional fatigue and require long leaves and different encouraging such as travel expense benefit, meal allowances and many others. Among them the most popular are teaching and nursing. If you check nurse jobs in mass media and the Internet resources you’ll find that there is always fresh blood needed. Also you could find all RN nurse job vacancies on JobTonic, Indeed, Monster and other job search sites. Choosing this profession you must be ready for hard days and sleepless nights.

How to make it faster.

Try different ways while searching for a new occupation. Don’t rely on news-papers or bulletin boards only. Involve your personal contacts and make everybody know you’re in need of a suitable job vacancy they may accidentally come across. Browse the Internet, it gathered people with the same purposes all over the globe. On-line bulletin boards now offer huge data base. Most modern companies have own sites where post the information about vacancies you may be looking for. Improve your communicative skills and self-discipline while preparing for the interviews you are to be invited. And never give up, success always comes in the long run.

5 Smart Ways to Save on Back to School Supplies

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save on back to school suppliesIt’s hard to believe that we’re more than half way through August. Depending on where you live and the type of school system you’re in, kids may already be back to school but the majority of kids have a couple more weeks to enjoy before hitting the books again.

There is a local radio station trying to fundraise and gather a bunch of school supplies for local underprivileged children.

It’s funny, I always think about stuff like food and shelter but don’t often think about the necessity and cost involved with stuff like school supplies, after all it was something my mom always just took care of. The station has been quite successful and I’m glad too since having school supplies may be the key to getting out of poverty for some of these kids. There’s no doubt that proper school supplies are expensive but there are, like most things, way to save.

Reuse

I used to beg my mom for a new zipper closed binder every year and most times she’d say no since there was nothing wrong with my old one. Since she was buying I didn’t have much room for argument but she was right. If there is something that can be reused (zipper binders, book bags, math sets) do it! If you take care of your stuff there’s no need to re-buy everything each year.

Buy Used

At least this is the case with post-secondary kids. There is often no need to buy brand new text books. I never had any issue (in two university degrees) buying used books. Unless the texts were changed entirely, and they rarely are, I could always get away with using an edition one to two years old, the profs often giving the readings to multiple editions for this very reason.

Stock Up

If there’s a really great sale on an item you’ll know you’ll use (like paper and pens) stock up for a few years. I remember one year packages of loose-leaf paper were on sale for $0.09 with no limit. My mom bought enough for almost four years’ worth of education for my sister and I. Obviously this is space limited for certain items.

Shop the Sales

Pay attention to local sales and shop around. A lot of larger box stores will not only price match but beat by 5-10% with can add up to a large savings in the long run especially if you have more than one kid!

Buy Year Round

For things like school clothes, though there are good sales late summer pending fall return to school, I find the best sales for clothes to be after Christmas. Though this is often an expensive time of year anyway, if you can, it may save you money for upcoming school years to buy clothes then instead of August/September.

School definitely isn’t free, there are plenty of costs involved from supplies, clothes and projects year-round. If you have time to properly plan what, when and where you’ll buy certain things though, it could save you a ton of money!

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