Saving Money Archives - Page 9 of 11

How to Save Money – 35 Top Ways for Parents to Save Money

May 15, 2017 | 2 Comments

No matter what you earn in a year, if you’re raising a child, then saving money is going to be a huge part of your life. You’ll save for diapers, school supplies, soccer cleats, and college. To help in your frugal efforts, here is a master list of how to save money.

Many of these tips came from real parents discussing this important topic via SavingAdvice.com.

How to Save Money – 35 Top Ways for Parents to Save Money

This is one of those articles that can be a useful resource for you, time and time again. As you read through, there will be things you can apply to your life today, but some tips may not apply til later. I suggest you bookmark or pin this post to ensure you have access to you it later.

Switch to bank accounts with no fees.
Cancel unused memberships.
Cancel subscriptions. Examples include magazines, newspapers, online entertainment, dating, or networking memberships.
Skip the cafe and bring home brewed coffee to work.
Eat out less; cook at home more.
Save money on your electricity bill. Install a smart meter (some libraries loan them out for free) to measure how much electricity your appliances are using. You could be saving more by simply unplugging what you can.
Contact your cell phone provider to ask how to save money on your bill. They may have a discount plan to offer.
When other phone companies cold call you, ask if they can beat your current company’s price.
Are you looking at a phone for your child that’s only to be used for emergencies? Try buying a prepaid phone rather than something on contract.
Comparison shop. This is huge for every major purchase in your life – from cribs to colleges.
Don’t buy “convenient foods” when you can make something from scratch. Frozen meals are quicker to prepare but you pay for the convenience and they’re often much less healthy for you.
Buy in bulk versus smaller quantities at traditional supermarkets (Costco, Amazon’s Subscribe and Save).
Batch your meals on the weekends. By preparing a large quantity of breakfast or snack foods during the weekend, you’re setting up your week to be more frugal and freeing up a considerable amount of time.
Save those pennies and dimes. Designate a family piggy bank for all your coins. When it’s full, go do something fun together.
Don’t balk at used items. Yard sales, thrift stores, and online garage sales may have just the items you’re looking for at a fraction of the price. Children’s clothing is a prime example, especially when they’re very young. They grow so fast!
Whenever you can, shut off your heat or air conditioning and throw open those windows. You’ll save a considerable amount on your utility bill in the long run.
Get creative with transportation. Can you carpool, ride a bike, or even walk to work? These may seem like extremes, but they’re also fantastic ways to save money on gas as well as preserve the life of your vehicle.
Reconsider that credit card “deal.” As popular as it is to accumulate airline miles or to snag that 30% savings at Kohl’s consider the long-term drawback your experiencing.
Be mindful of your spending habits. If you’re bringing home a paycheck, but there’s nothing left at the end of the week to drop into savings, then it’s time to dig in and evaluate what you’re really spending.
Clip or download coupons. Apps like Cartwheel or Paribus or RetailMeNot can give you convenient methods for saving on weekly expenses.
Wait at least 24 hours before making a large purchase. Give yourself a chance to come down from your “fever” to make a more thought-out decision.
Check your wallet. By knowing how much money you have before you walk out the door, you’ll be aware of what you can and cannot spend throughout that day.
Pack your lunch.
Find some free hobbies.
Identify wants versus needs.
Lower your car insurance by combining policies or paying it annually instead of monthly.
Learn how to save money on child-related taxes. See a full run-through of your options here.
Launch a “No-Spend Challenge”. Choose a spending category (i.e. fast food) and set a time for not spending any money in that category.
Try the 52-Week Money Challenge. Learn how to save over $1,300 a year here.
Use a monthly budget. I know from experience that this will help you conquer debt more quickly and save money before you ever spend money elsewhere.
Find deep discounts on Amazon merchandise through SnagShout.com.
Don’t spend your tax return; save it.
Automate a monthly transfer into savings. You’re much more likely to stick with it!
Pay $100 extra on your mortgage each month. This doesn’t save money in the short-term, obviously, but you’ll save thousands in interest over time.
Get accountability. However you’re saving money for your family, one of your most powerful tools is support. Not only does my spouse hold me accountable on a continual basis, but I love feeding off the positive energy in a supportive Facebook group of like-minded savers called “Your Debt Freedom Family.” We only discuss things related to our families and our finances – no spam or marketing. If you’d like to join, you can do so here!

The biggest progress I made when I was trying to figure out how to save money as a parent was remembering my “Why.” In my case, it was the little one growing rapidly in my tummy. She didn’t know it at the time, but my first child gave me strength, every day, to cut back, live on the budget, and save. It was worth it for her.

What’s one money-saving tip you’d add to this list? We’d love to hear about it in the comments below!

Are you a stay-at-home mom? Check out these bonus resources just for you!

Why a Costco Membership is Beneficial for Our Family

July 27, 2016 | Leave a Comment

When we first became homeowners six years ago, the first thing we did was go out and invest in a Costco membership.

I couldn’t wait to buy 30 rolls of toilet paper, an enormous bag of coffee or 5kg of chocolate chips whenever I wanted. It didn’t take us long to realize we really didn’t yet need a Costco membership though. We were only two people and one of whom was traveling a lot for work and rarely home.

When the year was up we let the membership expire and didn’t really miss it. This all changed four years ago though.

Looking at Why It Didn’t Work

The biggest mistake we were making at the time of our initial membership was not pricing out our groceries. We were horrible at meal planning and figuring pricing out. We were wasting money in not planning. We also hadn’t looked outside food enough such as baby items (at the time not relevant) or stuff like cat litter.

After I started my first maternity leave, and were forced to have a good long look at how we were spending money, and when I look at our big areas of spending I realize how beneficial the membership actually is to our family.

Baby Stuff

I think my newborns entire infant wardrobe came from Costco. They have amazing and affordable baby clothes. Their price on things like diapers and wipes also made the drive over well worth it.

After we got our membership back I no longer had to scour the sales and wait for a deal when it came to things like diapers because I knew they would be cheaper at Costco than any regular store sale. Now that we’re expecting baby #2 I know exactly where we’ll stock up on diapers and wipes!

Propane

We have always loved to BBq and try to do it year round as it can be an affordable way to cook. The price of propane at Costco is more than half the price that we were paying at the local gas station. Given that we fill it up every few weeks in the summer we save quite a bit of money.

Coming next year we’ll also get our gas from Costco too.

Produce

With an official third mouth to feed, and a husband who was now home more than before, we were going through quite a bit of produce. I did the math and for a lot of our favorite items, it is more times than not cheaper to buy at Costco.

Sometimes it’s cheaper for us to buy seasonal items from local stores (like when we have local apples) but non-seasonally, Costco prices and quality is always much better than most local grocery stores.

Services

We have capitalized on many services that comes with our membership such as photocenter or pharmacy. Again the pricing always makes the trip in worth it.

Our city has had a Costco for as long as I remember but the 30 minute drive made it hard to justify becoming a member given than we’d be driving at least an hour return for our trip, but about six years ago we got one closer to us and now it’s a part of our regular grocery shopping routine. Costco also has a really great return policy, so I know that pretty much anything we buy at Costco we can return – no questions asked.

I’ve become price-savvy enough to be able to shop around and know if and when to wait for our Costco trip. It’s a fee we don’t mind spending as we definitely do save way more per year than our membership costs. We’re also at the point now in terms of Costco spending to justify getting the executive membership which, if anything like I expect to earn in cashback, will end up being essentially free for us.

Do you have a Costco membership? How do you make it work for your family?

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

The Difference Between Being Cheap and Being Frugal

March 23, 2016 | Leave a Comment

The other day two of my patients were arguing in my room while I was treating their daughter. The parents were arguing about their upcoming house purchase and what they needed to finish up before closing. The conversation quickly turned from excitement to a full-blown argument about how cheap the wife was. The husband wanted to buy all new furniture for one of their rooms while she wanted to use what they had for a while longer. Her argument was that she wasn’t cheap, but rather frugal, and had the family’s best interest in mind.

This differentiation is one that many people confuse. Though they may seem like similar terms, they’re actually quite different in their meaning. To help clarify the issue here are a few instances concerning being cheap and being frugal.

Dining Out

A cheap person may eat out frequently but elect to never tip. If you can’t afford to properly tip when dining out, don’t bother going, it’s cheap to not tip service.

A frugal person may elect to not eat out at all, or much more infrequently, as they would rather spend their money elsewhere. When they do make the decision to eat out they pay for everything, proper sized tip and all.

Product Selection

If a cheap person needs a new mattress for example, they will go out and buy the first cheap mattress they find, the deciding factor being the dollar amount. Even if this mattress falls apart in a few months they see nothing beyond initial dollars spent.

A frugal person will elect to not buy the mattress until they have saved up a dollar amount that will allow them to buy a quality product that will last them years. While they are saving for their upcoming purchase, they may elect to forgo other activities they don’t feel are as important as buying the mattress they need.

* This was the argument the wife in my office was trying to make. She didn’t want to buy the cheap couch her husband wanted but wanted to wait until the new year and buy a better quality one even if it meant moving into a brand new house with ‘crappy old furniture’.

Socializing

When it comes to socializing with friends and family, a cheap person may elect to go to events where they know (or assume) someone else will pick up the tab, or avoid going out, ever, because they don’t want to spend the money. This eventually leads to alienation from friends and family.

Someone who is frugal will go out but will likely be pickier about when and where they go but they won’t avoid socializing all together. They will also likely come up with alternative social ideas like taking turns hosting a nice dinner in, rather than spending money at a restaurant.

Frugality is a way of life. It can be very advantageous when used wisely and lead to many more opportunities in your life. Being cheap however usually ends up in wasted money and missed experiences. Only one of these ways of life knows the true value of a dollar earned.

Catherine

plungedindebt.com

Saving Money This Halloween

October 28, 2015 | Leave a Comment

Like most holidays, Halloween can be expensive. For us, the costs are split between costumes, decorations, candy to give out and stuff to make for our daughters Halloween party at daycare. I was hopelessly optimistic that we could accomplish all of this for under $30. Boy was I wrong.

To start, the cost of candy was significantly more expensive that I remember (even from just last year). I want to be prepared for at least 100 kids and a box of 50 candies was coming in at $15. Half my budget. I accepted we would be over budget so I did what I could to re-coop costs in other areas.

Here’s how we’re saving money this Halloween.

Costumes

I was happy when our daughter announced she would be a princess and wear her favorite pink dress-up dress which we already owned (on clearance last Halloween so scour those racks this November!). The only request she had was that she wanted ‘’princess gloves’’ which my husband found for less than $5.00.

If you don’t already own the costume that you require, look into making it. Making it isn’t always cheaper though, especially if it requires a lot of items you don’t already own, but look into materials cost as a start. Also consider time to make the costume. Another option is to look online or second hand stores for used costumes. Costumes are often only worn a handful of times and usually in pretty good shape.

If you know someone you could borrow from, this is also a great option.

Use the Dollar Store

I love the dollar store. Especially when I’m preparing treats for my daughters daycare parties. I admit to spending too much time admiring what others accomplish on Pinterest but when you’re working full-time, and the party falls within the workweek, time is limited. For less than $10, I was able to buy everything I needed at the dollar store (as well using a few pieces of candy we had already purchased) to make up little treat bags for a handful of toddlers.

The dollar store was also where we found the crown and jewels for our daughters princess costume.

Avoid over-decorating

I wouldn’t decorating at all if it was up to me, but my daughter wanted to know why we couldn’t. She would ask every day if we could decorate ‘like they did at daycare’, and like her Auntie does. I was about to give in and head to my local dollar store for a few items (I was a kid once who loved to decorate for Halloween too) but thankfully my Halloween-obsessed sister-in-law had some extra stuff laying around which we could borrow for free!

Unless you love Halloween more than some people love Christmas, don’t spend too much money on decorations. If you enjoy a few decorations buy a few that you can reuse rather than one-shot deals that you’ll throw out.

Halloween can be a fun but like anything, busting your budget is never fun. In the end we ended up spending closer to $50 on Halloween this year, an amount I know has the potential to be much higher in years to come.

How much will you spend on Halloween?

Catherine

plungedindebt.com

5 Tips for Planning a Cheap Family Getaway

September 3, 2014 | Leave a Comment

Last weekend I had the luxury of getting out of town with the family, even though we didn’t go very far it was so nice to just get out of our normal routine and boundaries. You don’t have to spend a ton of money to enjoy a family getaway. We managed a weekend away for less than $200 by finding some deals and capitalizing on cost savings, you can too.

Shop Around

We knew we’d need a hotel for the evening but weren’t interesting in spending a ton of money. I also knew we’d likely be spending a decent amount of time in our room given that we have a little on who is asleep fairly early so wanted it to be comfortable and spacious for my husband and I to enjoy while she was sleeping, without being overpriced. The internet makes searching for stuff like hotels a breeze. I found exactly what we needed for below the price we were willing to spend.

Look for Discount Options

We were planning to attend a specific event, if we signed up for notifications from the hosting vendor we would be granted a 25% discount on ticket price. Given that there we a total of seven of us traveling it saved us a decent chunk of money. We also saved on parking at the event itself because they considered us a carpool (more than 4 people), a nice surprise.

Enjoy and Seek Out Perks

I hate paying for parking at hotels, given the rate at which they charge you to sleep in a room I think it’s insane to charge upwards of $40 per day in some cities to park your car on top of room rate. I always look for hotels with free parking before ever paying. I also compare the room rate for breakfast vs. no breakfast included. At our particular hotel not only did we have free parking for only $10 more per night then the other hotel we were looking at, we got hot breakfast included. Our family of three certainly can’t eat (out) for less than $10. The hot breakfast is almost always worth the money to me.

Share Costs

A few family members were traveling with us to go to the same event to we decided to cut one of the cars out and share the cost in our vehicle instead. They save on wear and tear on their vehicle and we shared the cost of gas which was a help to both parties involved. We also shared a hotel room. Paying for the larger room and extra persons charge was still significantly cheaper than us each getting a room and it was nice to have the extra company!

Bring Your Own Snacks

Buying snacks on the road can get expensive. We always pack our collapsible cooler with drinks and light snacks for us and kiddo so we’re not tempted to waste money at gas stations and pit stop locations. We have a child who much prefers to graze throughout the day then eat larger meals so this works especially well for us.

With a little planning it is possible to plan a weekend away with your family and not break the bank. Proper budgeting will insure you can get away without worrying how you’re going to pay for it all when you get back!

Catherine

plungedindebt.com

Saving Money on Kids Birthday Parties

June 11, 2014 | Leave a Comment

This past weekend my daughter was invited to the birthday of a little girl we know.

She was turning six and all I knew was that there was a ”clown theme”. It was the first time I’ve actually attended the birthday party of a child (outside of me being a kid myself) and holy. cow. The party was over the top.

I certainly don’t remember ever having, or attending a party of such detail before in my life. It scared me a little into thinking there was some new expectation to have a huge party for kiddo’s upcoming birthday.

I was right, there was a clown theme which included:

Having a live clown perform or two hours making balloon creations for every kid present (at least 30 kids), a full kid-friendly magic show and all sorts of attention for the birthday girl.
Rented hall for event.
Full decoration (balloons, streamers, plates etc)
Toys for kids (clown noses, silly bowties, party hats)
Food (fresh fruit, candy in skewer form, cake, chips)
Multiple treat bags full of stuff for each kid.
And so many gifts!

Saving Money on Kids Birthday Parties

Kid parties certainly don’t have to be so over-the-top though. You can have all sorts of fun without compromising the child’s memory. To save on kids parties consider doing these money saving tips:

Only invite the child’s friends/family. There was simply no way this little girl was friends with every child there. Invite only kids that your child actually interacts with. There is no rule about mandatory invitation to every child in their class.
Don’t have it during a time when a meal may be expected. Only serve snacks and keep them to a minimum. Depending on how many people may be present, buying in bulk at a store like Costco or Sams Club may be the best option.
If you do serve a meal make or buy something that is inexpensive but can serve a lot of people (lasagna, pizza, pasta, BBq burgers/dogs) or consider a potluck meal.
Look into group party discounts at local attractions. I know the local movie theater here offers a pretty good price for a large group (movie ticket, snacks, room rental and cake all included). If you’re only inviting close friends and family it can be a reasonable option.

If you start with extravagant parties, especially so young, there will be an expectation for years.

I’m not suggesting you shouldn’t have fun and celebrate their special day but keep it within reason. This can’t be the new norm! I remember having my friends over for pizza and games, as we got older possibly a sleepover, not an all-out afternoon event with every kid in the neighborhood. Put the focus on your child having fun, not money spent.

How do you save money on kids birthday parties?

Catherine

plungedindebt.com

The Top 3 Tips For Saving On School Expenses

February 6, 2014 | Leave a Comment

With skyrocketing education costs, rising fuel prices, and a lack of affordable housing over much of the country, finding ways to save money whilst at university is as important as ever. Luckily, there are a few things you can do while you’re in school to save money and avoid an excessive amount of debt. Sure, you still need to have a great time whilst you’re getting your higher education, but, if you want to have a bright financial future, then it’s wise to save what you can – wherever you can. Here are 3 tips that can save you bucket loads whilst you’re still at school.

1. Grants and Scholarships

We know this is an obvious one, but so few students actually put in the time and effort to apply for grants and scholarships. There are lots of companies and organisations out there who are waiting and willing to subsidize parts of, or all of your education. So do some research online, and speak to your university about all available options. You may just be surprised at what you find. By all means, apply to all those you’re eligible for. But don’t be put off approaching other independent organisations and companies about possibly securing some form of financial help. For example, if you already work part-time for a company, ask them if they’d be willing to pay for some part of your education. You never know, and god knows you could use all the help you can get!

2. Make a Budget

When it comes to the world of finances, having a budget never hurts. You need to be aware of how much you can realistically spend each week, without going into debt. Set aside a spare Sunday and write all your upcoming expenses down. Having an idea of all your outgoings, as well as your incomings, will give you a full picture of your financial situation, and help put things in perspective.
You’ll then know how much you can play with each week without going into debt. Also, if you currently have credit card debts with multiple companies, then it may be a good idea to see Fox Symes about debt consolidation. Lumping all your interest payments into one can save you lots of money at the end of each month. Of course, as with any budget, you’ll need to stick to it almost religiously if you want to come out of your degree in the black. But learning this kind of self-discipline during your early years will only help you in your future.

3. Live Off Campus

Another way to save money while going to school is to live off campus. Whether you choose to live with your parents or a group of friends, this can save you a lot of money in the long run. Of course, before committing to any lease, or promising to live at home, do some calculations to find out whether living off campus will actually bring your total costs down. Sometimes, transportation costs can offset any savings to be had by living outside the campus grounds.

There are many more ways you can save money whilst attending school. Keep an eye out for what your classmates are doing to save money, and see if those things can work for you too. But in any case, the above suggestions will give you a great start on your savings goals, and hopefully you can come out of your university years with a degree in hand, and little to no debt.

What other tips do you have to save money on school supplies?

Brian

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

Email • Google + • Facebook • Twitter

How to Save Money by Going Green

February 3, 2014 | Leave a Comment

Do you want to save money in an environmentally conscious way?

Going green can sometimes seem expensive. Especially when you compare the shelf prices of green products verses regular products. But, by trying to live a more environmentally conscious lifestyle you can help make the world a better place for future generations to come.

If you’re trying to go green without breaking the bank here are three ways you can do just that.

Make Your Own Cleaners

Going green is becoming increasingly popular and because of this many green items have a hefty mark up. One of these items is household cleaners.

Instead of purchasing cleaners from a big box store you can make your own for much less money. Here are some natural alternatives to chemical cleaners:

Baking Soda: cleans and deodorizes.
Lemons: kills household bacteria.
Isopropyl Alcohol: can be used as a disinfectant.
White Vinegar: will remove grease, mildew, and some odors.
Cornstarch: can be used as a window cleaner or as furniture polish.

There are also all types of combinations you can create to replace your favorite name brand cleaners. You can easily find a natural recipe for the cleaner you need online.

In addition to household cleaners you can make your own toothpaste, soap, and laundry detergent.

Don’t Throw Away – Recycle

The next time you think about throwing something out check and see if it can be recycled. By recycling you can help out the planet and even put some cash back in your pocket.

You can recycle things such as aluminum cans, copper, steel, plastics, and paper. You should also think about recycling appliances and electronics. You can reduce your carbon footprint by practicing computer recycling, cell phone recycling, and the recycling of your other electronics. You just need to find a recycler like Vernon Technology Solutions to help.

Don’t forget about up cycling, either. A lot of times you can breathe new life into an old item. Things like small furniture, fabric, and old flower pots can be refurbished or turned into something new. If you don’t want to up cycle an item consider selling it or donating. This way your unwanted items won’t wind up in a land fill somewhere.

Rent Instead of Buy

Another great way to reduce your carbon footprint is to rent instead of buy- this is especially true with electronics.

If you occasionally need a tablet you can rent ipads instead of buying them. The same goes for renting computers. When you’re in a bind you can rent a computer for a specified time rather than shelling out hundreds of dollars for a new one.

Other Ways to Be Green and Save

Reducing the amount of harmful impact you do to the environment isn’t limited to just these three things. There are others things you can do to help out the planet and your pockets.

Here are a few:

Shop for clothing at thrift stores
Take shorter showers
Unplug appliances and electronics not in use
Don’t waste food
Drive your car less

There are many green things you can incorporate into your everyday life. The little things you do can have huge impact.

How do you save money by going green?

Brian

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

Email • Google + • Facebook • Twitter

Saving Money While Traveling With Children

January 19, 2014 | 1 Comment

I previously wrote about how my family was getting ready to partake in a family vacation together. The event was a family reunion and our first vacation with our daughter. Even though she’s still quite young, I can already see how the expenses are adding up with factoring more that just a plus one in your travel plans. Kids eat, sleep and partake in events just as adults do and costs add up!

Getting Ready to Travel

A key to saving with traveling is to prepare appropriately. I like to prep for travel by trying to earn as many points as possible for my travels. For example, with the TD Aeroplan Card, I can earn points faster, and they also have a 2-for-1 travel special. Since my daughter is still young, she can fly on my lap. And with this card, my husband and I can travel for the price of one ticket. Then, you add in points, and we’re well ahead on our path to save money traveling.

Saving Money on Travel with Children

I don’t need to tell anyone that airfare is expensive. While bartering or negotiating posted airfare prices isn’t an option there are other ways to save on travel costs.

Most airlines don’t charge for children under two years of age so travel away with your babies! Younger children will often get discounted tickets as well. Another option for saving on additional ticket costs is to look into any rewards you may have through credit cards or point redemption programs. Even if you don’t have enough rewards for your whole family, having enough to help offset some travel costs will be beneficial on your travel budget.

While flying would have been a fast and convenient option for our family, we chose to drive. The cost of driving the 2800 km (1750 mi) round trip was significantly cheaper than paying for the airfare for our family and, in my opinion, much more fun. We made the road trip fun and apart of the vacation fun.

Saving Money on Events

The easiest way to save money on events is to attend events where kids are free or discounted. We didn’t attend a single event that we had to pay for our child. Even though she’s young (14 months), most places were free under six anyway. Only the professional sporting event would we of had to pay if she didn’t sit on our lap, an event well worth the money should we needed to pay.

Prioritize the events the family wants to do and come up with a budget that suites everyone’s wants.

Saving Money on Food

We saved money on food a few ways. One, we stayed in a hotel that had breakfast included. The hotel had a hot breakfast selection every morning which was great because it kept us well satisfied until late in the day. We often skipped lunch, opting for a snack instead and having a normal dinner. We also had the option of requesting a mini fridge and/or microwave in our room which made things quite easy. We were able to buy some foods at the grocery store and store in our room for the week. This was especially good for having a little one with us and being able to keep her favorite snacks and fruits on hand.

Like the event option, choose restaurants where kids eat free, or cheap. We went to one restaurant where kids ate for $0.10 per pound of body weight. I don’t know if they actually enforced the weigh-in and fee or if they had a generic kids price, but there was a discount for kids.

Travelling with children will be more expensive but with a little more planning you should be able to make it work. Vacations should be about making memories not stressing about money!

How do you make your family vacations more family/budget friendly?

Catherine

plungedindebt.com

Saving Money By Throwing Themed Parties, Showers and Events

October 29, 2013 | 2 Comments

First comes love, then comes marriage, then comes baby…

At least in my case this is how it went. I started dating my husband when we were just kids in high school. We got engaged and started planning our wedding seven years after we started dating. Since we had already lived together in a small one bedroom apartment, there wasn’t much that we needed in terms of wedding gifts nor did we have much room to store anything for our future home.

If you’re a parent planning a party, shower or event for you kids, or are helping a parent plan an event like this, you need to read this post!

Planning a Shower

I didn’t think having a wedding shower was necessary, but being the first wedding on both sides of the family in many years we attending a lot of events because other people insisted. I made it quite clear that I did not need a shower. It was unnecessary and in my mind, a whole lot of wasted money on, what I pictured to be, kitchen gadgets and pre-baby ”nesting” supplies. I thought everyone was on board with saving money and not throwing me, or us, a shower.

One summer evening after the summer of our wedding we decided to meet up with the rest of the family for a weekend of camping. Hubby-to-be picked me up after work and we drove the hour to the campground where the rest of the family had been since the day before. We went right to our site to set camp up before dark and proceeded to head on over to the main site where everyone was getting ready to have dinner.

Decorating a Fun Event

When we arrived we realized that t he site had been decorated with balloons and signs saying ”Happy Camping Shower”. Our family was throwing us a camping shower instead of a wedding shower! They got the message loud and clear that we didn’t need anything for our home, so instead had a camping shower where under the open sky of the camp site, we opened gifts, all related to camping, our favorite past time. It was amazing.

Having a themed shower, especially if you’re planning an event for your child’s wedding, can be a great way to save money.

A themed shower limits what people buy. In our case, camping stuff, but if you wanted to have a ”kitchen shower” people would likely understand that buying a large picture frame for wedding pictures is not an appropriate gift. Having a themed event is also a great way to make sure you get what you want. Though we didn’t ask for this event, I’m so glad my mother-in-law thought of it.

Other Ideas

When my sister-in-law moved out, instead of having a housewarming party we threw her a ”fill their pantry” party where, instead of plants and homey stuff, people brought non perishables for their pantry. Everything from spices to baking supplies. They really did fill their pantry!

Parties, showers and events alike can get quite expensive but with a little planning and creativity, it is possible to save money. Coming up with a theme is just one of many ways!

Catherine

plungedindebt.com

Raising a Saver

October 2, 2013 | 3 Comments

Growing up, I didn’t have much in terms of financial role models. My mom used to say blanket statements like ”debt is bad” and ”always pay your credit card balance in full” but she never explained details about money. Details about how to manage my money, how to allocate savings or even encouraging me to save. I think she was just relieved that when I got a job she was no longer on the hook to ‘support’ me and my social habits.

My History

I grew up always spending any money earned. I managed to save a few bucks for my wedding but that was the extent of my savings. Even though I started working when I was 15, it wasn’t until I was in my mid 20’s that I began to understand the logic behind emergency funds and planning for a ”rainy day”. Though I had a savings account my entire life, it remained empty 99% of the time.

Educating your children early on how and why one saves money is so important. When I think about how much money let pass through my fingers over the last 15 years a small piece of my soul dies.

Start Young

If you want to raise a child who understands and respects money, it is so, so, important that you start young. Giving an allowance before they start earning their own money is an easy way for children to learn the ins and outs of money management.

The allowance money should come from your budgeted monthly amount for your children. If, for example you have allocated $50 per month for ”kids” which can include anything from haircuts to lunch money, give your child a percentage of that money for them to manage. This will be done within you guidance but have them learn about money; spending, saving and budgeting. Have them help you shop and budget for their things. This way they will understand that they only have $25 to buy pants, therefore rather than whining in the store about the why they can’t have the $50 jeans they will need to shop around.

A percentage of their allowance needs to go into savings. Teach them early about the importance of saving for things. If they really want those $50 jeans, they’re going to have to save up for them. Not everything can be purchased immediately and will require financial planning and preparation. This is applied to everything from the purple My Little Pony they want to the university education they aspire to obtain.

Saving as Your Child Grows Older

As kids get older, give them opportunity to make more money. Money that can be made beyond upholding normal household expectations (ie don’t pay them for making their bed). If they’re saving for something or would like to have extra money for something have them work for it. This will depend on the age but something like cleaning dads car for $20, helping clean the yard in preparation for winter for $30 sort of thing. The point is that kids need to understand early that money comes from hard work, and building savings, not from mom and dad’s wallet. If children grow up assuming money will just appear when they need it, they will fail.

When kids get they first real paying job it is important that a percentage of their pay goes directly into savings. This will be decided upon between kids and parents but agree on a spending and savings amount and enforce it. Saving early will establish long-term good habits.

Did you start saving young? How are you encouraging your kids to save?

Catherine

plungedindebt.com

Saving Money With Back to School Shopping

August 13, 2013 | 4 Comments

I can’t believe we’re already nearing the end of the summer. This past week the flyers were delivered and jam-packed full with back to school shopping deals. I feel like we were just talking about Easter! Time goes too fast.

When it comes to grade school, back to school is a time of year when pressure is put on parents. Kids need to go to school and they will require some new items for their pending academic year but it doesn’t have to be as expensive as your children will have you believe. Kids have a funny way of making it seem like they couldn’t possibly succeed without ‘x’ item and guess what? As parents, we will occasionally get duped by our kids. We will inevitably purchase an item we didn’t have to, sometimes because we’re suckers and believe them and sometimes because we just love them. Back to school shopping can be very expensive but there are a few ways to save!

Budget

This isn’t exactly about saving money per se, but if you know your child will be needing new supplies every year, budget for it! Determine how much money will be spent on each child and budget the amount equally over the year so you’re not faced with a huge bill come school shopping time. This should include any supplies, clothes and gadgets they will need. Once you’ve set a budget shopping will be a lot less stressful, especially if you’re able to set ground rules with kids in advance.

Wait for Sales

The normal price for a pack of looseleaf paper at my local Walmart is $1.79/pack, this week it is on sale for $0.15. Needless to say if I was shopping for my child I would be buying enough paper to last the next 10 years at that price.

In many places, there are also tax free days for back to school shopping, which can at least give you a little break on the taxes you pay on your school supplies.

Reuse

When I was in elementary school I needed a new backpack every year. I’d find a flaw in my current one just so mom could buy me a snazzy new one. Eventually she caught on and bought me a good quality backpack with the stipulation that I took care of it and it was to be the last one she ever bought me. Fair enough. That bag ended up lasting me all the way through university, money well spent.

Same thing goes with things like sneakers ad clothes, unless your child is growing a legitimately doesn’t fit in their current size, or their shoes are really falling apart they don’t need a new pair just because it’s the start of a new year. Though I respect wanting a new outfit or two for the new year it doesn’t have to be a full wardrobe overhaul.

Share What Can Be Shared

If you have more than one child to shop for, and there are items that can be shared, capitalize on this. Each child does not need their own computer. Trust me, I know they will have a very elaborate explanation as to why they do, but unless you have a household of five plus children all in school, one computer for the children will suffice.

Back to school is a stressful time for families with the drastic change in routines, shopping for supplies shouldn’t be!

How do you save on back to school shopping for your kids?

Catherine

plungedindebt.com