Smart Ways To Teach Children About Money

November 14, 2019 Leave a Comment

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Being able to make good financial decisions doesn’t just happen. We have to teach our children the value of money and do so in ways appropriate to their ages. It’s never too early to get these lessons started, especially nowadays. Since marketers have begun aiming ads at children with every media channel, they must understand that certain purchases aren’t worth the investment. If you don’t teach your children how to manage money, someone else surely will. But that isn’t a risk you want to take. With that in mind, here are ten smart ways to teach children about money. 

 

Play Classic Board Games

Many classic board games are more educational than most people realize. Rather than just teaching board game etiquette, Monopoly introduces children to important life skills, like saving for retirement and purchasing real estate. Playing these games as a family gives you a chance to explain to your children how the rules of the game apply in real life. Other childhood games, like house and grocery store, also teach kids about finances, along with cooking and cleaning. 

 

Write Letters To Santa

Once the weather turns frosty, children get excited for Christmas. They want to decorate the house, make gingerbread houses, and, most importantly, write letters to Santa. Although this is a fun annual activity, it could be an educational experience too. Rather than letting your children ask for whatever they want, give them a spending limit. Having a spending limit makes your kids consider what gifts are really important to them. This is a great opportunity to practice math too. 

 

Make Them Earn Money

Although Christmas is a time for giving, that rule doesn’t apply for the rest of the year. Instead of handing over money whenever your children ask for it, you should make them earn it. Depending on their ages, there are a few ways to do this. Teenagers can take on summer jobs, while younger children carry out chores at home. Entrepreneurship is another option to consider. Even a lemonade stand throughout the summer is a business, so teaches many important lessons. 

 

Chat With Financial Experts

A financial adviser is an important resource, both for adults and children. Taking your kids with you the next time you speak to money experts gives them a chance to ask questions. If you have a living trust set up for your children, allow them to meet your living trust attorney too. At this meeting, you can explain what a living trust is and under what circumstances your child would be given money from it. Having these meetings now will make financial experts seem less scary. 

 

Open A Savings Account

After meeting with your financial adviser, you might decide to open a savings account for your child. When you do so, make sure that you take them to the meeting. Explain exactly what a savings account is, how interest works, and how to access that money. If your child has earned their own money, ask if they would like to invest that into their savings. Once your child is old enough, you can open a checking account. This would give them greater control of their money. 

 

Shop For Groceries Together

Certain chores take much longer with children in tow. Shopping for groceries certainly makes that list. However, that doesn’t mean that you should leave your little ones at home. After all, shopping is an important chore and life skill. Unless your children know how to shop smartly, they’ll waste money when they’re older. Before heading to the store, write a grocery list, make a budget, and gather coupons. Each of these tasks is important and helps with money management.

 

Download Money-Related Videos

Most parents are always trying and failing at limiting their child’s screen time. While you shouldn’t give up this battle entirely, you could be flexible. The internet doesn’t just waste time and can instead be incredibly educational. YouTube is a great example. Although there are many pointless videos on the platform, you can find a few that teach children about money. These are fun, interactive, and fairly short, which means your child could easily see one during a car ride. 

 

Choose Different Bedtime Stories

Just like videos, books can be both fun and informational. When choosing your child’s bedtime story, pick a book that talks about money. There are hundreds out there that focus on different financial topics, including entrepreneurship, investing, and money trouble. If you don’t own any books about money, then head to your local library. Without having to spend a penny, you can take home a variety of books. Alternatively, you can download and listen to audiobooks. 

 

Set A Good Example

Children learn by what they see. This means that, if they see you managing money well, they will understand that they must do the same. Unfortunately, the opposite is also true. Overspending, lying about money, and other bad financial habits can make your kids question your teachings. That is why you must set a good example for them. Make sure you also explain what you’re doing when using an ATM or writing a check to help your children learn basic money concepts. 

 

Leave Room For Mistakes

Part of allowing your kids control of their money is letting them make mistakes. While you can explain to someone the consequences of bad money management, they’ll never truly understand them until faced with them. While it’s tempting to step in and steer children away from costly errors, doing so could hold them back. A mistake might seem disastrous to them now, but the lessons they learn from it would benefit them later and keep them from making a bigger blunder. 

 

Money is a topic many children think very little about. With parents buying everything they need, kids usually assume that money comes easily. Teaching your children the value of money will not only benefit them in the future but help you now. Once a child knows that things cost, they usually become less demanding. Hopefully, the tips above help you teach your kids about money.

Filed Under: Budget Tagged With: , , ,

4 Ways To Boost Your Savings With Change

October 21, 2019 Leave a Comment

When you’re trying to save money, drawing up a good budget is the best thing that you can do. But making small savings here and there is also a good way to boost your savings account. A lot of people don’t bother saving small change because they don’t think that it’s worth it, but that isn’t true. If you do it right, you can actually earn a lot of money by saving your small change, and it’s a great way to add to your savings without having to make any changes to your overall budget. There are a few simple tricks that will help you get the most out of your change. These are some of the best ways to save more change. 

Image From Pixabay CCO License

 

Save Bigger Change 

 

When people save change, they usually just put their small change in a jar, but you should consider saving bigger change. The best way to save a lot of change is to empty your pockets whenever you come back home. If you start putting in dollars instead of pennies, your change jar will build up a lot quicker. All of that change you have in your pocket is likely to get wasted anyway, so you may as well save it. 

 

Get More Change Jars 

 

When you find loose change lying around the house, it’s easy to shove it in your pocket but you’ll end up spending it later on. But if you have change jars dotted around the house, you’ll be more likely to save all of that change. It’s a good idea to put on in each room to encourage you to save more regularly. 

 

Small Investments

 

Now that you’ve boosted your change, you need to start doing something with it so you can turn it into a more substantial amount. When people think about investing their money, they usually assume that you need a huge amount of money, but that isn’t the case. You can get started with small amounts, so if you save your change for a year and invest that money, you can watch it grow. 

 

If you want to make a bigger return on your money, you could even put the money into casino sites. If you look for deals at deluxcasinobonus.com, you can get free games when you put money in. Ordinarily, it’s not the best way to spend your savings, but if you have extra money from saving change, it could be a good way to earn more. 

 

Change Apps 

 

It’s not just physical change that you should think about either, you should try to save change when you are spending on a card as well. A lot of people find that they don’t have much change because they hardly ever use cash. But if you use prepaid cards like Revolut or round-up apps like Acorn, each purchase that you make will be rounded up to the nearest dollar, and the spare change will be saved. Check out Forbes.com for a good list of the best round-up apps. Some of these apps even put the money into investments automatically.   

 

These are all great ways that you can turn a bit of spare change into some real savings for the future.

Filed Under: Budget Tagged With: , ,

20 Ways to Save Money on Everyday Items….

February 12, 2018 Leave a Comment

Growing up money was tight, I learned at a very young age you had to work hard for everything you want in life. This also taught me the importance of money. Saving it, making it and especially how to spend it.

After marriage and graduating college money issues were not as “tight”, but I still took those young values I learned with me and it has paid off!

Here are ways I like to save money!

Pic Credit

  1. Cell Phone bill – I had AT&T for years, I would call every so often and explain that I will have to cancel my account since the prices were constantly going up. It wasn’t until a blog conference that I recently found out Cricket is owned by AT&T. I did my research and found out they use the same towers and covered the same area. So I switched from a 160.00 for two lines to 100.00 for four lines.
  2.  Cable bill – I hated writing the 124.00 a month check to Directv every month so I did a little research and sure enough if you call them when they have promotions and ask for it, you can cut your bill to half of what it is. I now pay around 60.00 a month. The only reason we keep it is the husbands wants the SEC channel.
  3. Filters – Changing out your air conditioner/heater filters often will help save on the electricity bill. The more clogged they are the more the air conditioner/heater will have to run.
  4. Shop wisely – When I am browsing in a boutique, I usually take a picture of the tag of something I really, really, like 99% of the time I can find it online way cheaper than in the store!
  5. Dollar Tree – This place will save you 5.00 – 10.00 a week if you shop there first. I buy all my cards and gift bags from here and every now and then you will find something on your grocery list there for a dollar!!
  6. Wash your sheets – Keeping your bed clean will help you not to get sick as much. Besides the fact that clean bed is amazing!
  7. Coupons or Sales– Check for printable or app coupons before leaving to shop, plan meals around what is for sale that week. Regardless of how great the coupon is, only buy what you will use.
  8. Bulk – Take a calculator with you, if it is a lot cheaper to buy it in bulk then do it. I love when something in bulk is on sale and I have a coupon, I stock up!
  9. Budget – Make and stay on a budget regardless!! This is important to learn, I remember weeks when I would say we are going to have a “leftover” night or let’s find a meal at the “Dollar Store”. Really what I meant is that is all we could afford but wanted it to seem like a fun activity. Staying on the budget meant getting creative.
  10. Electricity – It is important to seal off any air leaks or making sure your home is insulated to reduce the electricity bill.
  11. Intrest Rate – Negotiate those as often as possible.  You will be amazed at how willing a company will be to work with you if you make payments timely.
  12. Pyramid payment – This took us several years to master but now I am happy to say we are debt free! You take your smallest bill rather if it is a 300.00 jewelry store account or 500.00 hospital account and you pay extra until it is paid and continue this until everything is paid off. We paid cash this year for my new Cadillac and it sure felt good!
  13. Savings – Regardless if you put 5.00 a week away, make sure you start and have a savings account. You need something to fall back on when you have an emergency!
  14. Education Degree – The more education you have or can receive the more you make in life, as a general rule. Try and get some type of degree even if you can only take one class a semester. There are so many grants and aids that can help you with this.
  15. Church – Most churches have a ton of really fun free activities you can do as a family. Church communities love to help out.
  16. Yard Sales – I can’t tell you how many times, my new wardrobe consisted of my latest yard sale finds. Most yard sales have clothes really reasonably priced. I clothed my children for years from yard sale finds.
  17. Garden – Plant a small garden of veggies your family likes. If you don’t have room for a garden put them in a pot, people love fresh veggies and it is a great way to give to others.
  18. Fix broken items – If there is an issue with something like a vacuum or dripping water faucet, fix it immediately. You will save money in the long run by taking care of it right away.
  19. Money saving sites – Shop sites like slickdeals.net before making online purchases to see if there are any great deal or prices. I recently found a 99.00 gift that I wanted to get my grandson for his birthday on there for 25.00 at a certain store. I was so excited!!
  20. Ebates – If you download Ebates to your dashboard every time you shop online it will pop up and tell you how much $$ you will make from the purchase not only that but it will find if there is any money saving coupons out there. I use it for every purchase and get a check in the mail!!

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These are a few of my favorite ways to save money! I am sure there are a ton more ideas and would love to hear yours!!

Filed Under: Budget Tagged With: , , , , , , , , , ,

The Big Problems With Living In A Big Mansion

July 10, 2017 Leave a Comment

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We have all dreamed of living in a huge house – a mansion – because we have always dreamed of more space. The idea of having eleven bedrooms and twelve bathrooms and three kitchens, all with Aga’s, and a garden that would rival Central Park in New York. However, for all the dreams that swirl around the world, the reality is often very different, and that is the case with mansion life. It just isn’t the simple life of luxury we all imagine it to be.

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Too Much Space

Yes, we want to enjoy more space, but not to the point that our home feels empty and bare no matter how much furniture we throw at it. Even if you just living in part of a mansion, one wing or one floor on one wing, trying to make two sofas fill a ballroom is like trying to make two drops of water fill an ocean.

 

Never Feel Cozy

High ceilings and vast spaces don’t add to the cozy feeling in any way whatsoever and this only gets worse when winter starts to creep in. Even in the height of summer, a mansion can feel abysmally cold as you spend a large fortune on logs for your fireplace and oil for your ancient heating system.

 

Never Enough Internet

Having the internet reach every corner of every room in your home is a luxury. Anyone that lives in a big house will know that this is hard to disagree with because in order to enjoy that same nuisance-free existence they have had to invest in multiple wifi extenders if they want any chance of getting any web browsing done. As for 4G, well, either it hasn’t reached that part of the countryside yet or it can’t penetrate the thick walls.

 

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Gardening Never Stops

If you live in a mansion with a mansion-sized garden then trying to keep on top of the lawn alone is like having a full-time job, except you don’t get paid to do it (and you don’t get paid to do your normal job because you are spending your entire life mowing). Not to mention that, once you’re done, you’re more out of breath than an amateur marathon runner that decided they could participate without any training.

 

Money, Money, Money

The only thing that leaks more than your roof is your money, with every cent you have seemingly being pumped into your home. Trying to repair broken beams, or replace another shattered pane of glass, or the leak in the roof, or discover where that god awful smell is coming from, or trying to keep the place warm, or whatever. It is a constant drain on finances, and we mean constant.

 

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Permanent Paranoia

Big, old houses make loads of noises, and most of them are really eerie noises. Something will fall down between the walls or the sound of a ghost will interrupt your dinner. But that isn’t all because there is also the constant worry that someone will break in through any number of easy to lift windows or shrunken doors that don’t seem to lock properly anymore. Just walking around a big house can be terrifying and you’ll start to curse your own imagination as time goes on.

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Retiring Into Old Age Successfully

June 27, 2017 Leave a Comment

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We don’t realize it, but retirement is a game. And, like all games, there is a winner and a loser. Now, no one likes to lose because winning is fun and addictive. But, no one wants to lose at retirement because a loss can have a major impact on the rest of your life.

 

There is no doubt that you don’t want this to happen. After all, our golden years are supposed to be the time when we enjoy the fruits of decades of hard labor. Still, it happens to people all of the time, and it happens because they are ill prepared.

 

As such, you have to be ready if you want to win. And, to do that, you have to know the tricks of the retirement trade. So, here is everything that you need to know to retire into successful bliss.

 

Good luck.

 

Be Mentally Prepared

 

The biggest mistake everyone makes is to assume that retirement isn’t a big deal. Sorry to burst your bubble, but it is a huge deal because your life is about to change forever. Yes, the idea of slowing down and pottering around the garden is appealing, yet it is still a transition. Indeed, when was the last time you took the time to relax? Exactly, and now you’re going to do it for the rest of your life, which can be intimidating. To avoid any scares, you should try and get used to the idea. Then, there is no need to wake up in a cold sweat in the middle of the night. People often focus on the physical, yet the mental aspect of retiring is just as important.

File

 

Continue To Work

 

‘What?! I’m never going to work again!’ Okay, you have every right to think this way, particularly after 40 years of hard work. However, not to be critical, but it is a little short-sighted. Although working hasn’t always been enjoyable, it has given your life structure. And, sweeping that structure from under your feet is a recipe for disaster. It is no secret that the golden generation suffers from boredom, and working is one way to relieve the monotony of life. Plus, it adds value because it gives you something to look forward to every week. Of course, it is your decision how much to take on because you are not fully employed. Still, one or two days should break up the week nicely.

 

Stay Physically Active

 

Again, ‘letting yourself go’ is another benefit of quitting work and getting old. But, again, it isn’t a good idea if you want to win the war as well as the battle. Staying healthy is the key to a long and happy life, and that never changes. It doesn’t matter how old you are or how many dues you have paid in the past. Your body still needs maintaining, and exercise is the only method that works. Now, there is no reason to get down with the kids because that is too much. But, there are ways to get the blood pumping without encouraging a heart attack. Walking is the ultimate example, as is gardening. Try and opt for activities that are active but not too strenuous.

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Get Your Finances In Order

 

Anyone that doesn’t work full-time has to be financially savvy or else retirement could be more of a nightmare than a dream. One thing you have to understand is that your earning potential has limits. As a result, it’s imperative to use what you have to your advantage. To do that, you need a working total of all your assets, and you need to write them down. Next, work out your expenses and how much you pay out every month. The total that is left is your overall budget and the trick is to stick to it as much as possible. Sure, there will be some expenses that are bigger than others, yet these are the anomalies. On average, your monthly payments must hit a certain figure. If the number is too low, consider cutting back. It isn’t nice, but it is necessary.

 

Consider Living Arrangements

 

An example of cutting back is moving out of your home. Let’s face it – a house is expensive and may be too big for your needs. The logical thing to do is to downsize or consider the alternatives. For example, living with one of your children may be on the cards if they have the room. Or, moving into a residence with in-home care facilities is also a popular choice. Whatever you decide, it’s essential to be logical and analytical if possible. No one likes the idea of leaving their home, especially if it has sentimental value. However, sometimes it is the only option if your finances are not in order. Hopefully, you’ll be able to keep your independence for the foreseeable future, but you shouldn’t assume that to be the case.

 

Talk It Through

 

The important aspect of a successful retirement is making an informed decision. Usually, this can’t happen without having a conversation with the people you love. Quite simply, your life and theirs are intertwined, so your actions impact their lives. As a result, you need to sit down and inform them that you plan on retiring. That way, everyone can bounce positives and negatives off one another and cover all of the issues. It may be that you’re not ready to quit work for financial reasons, or you’re only doing it because you think it is right. At least when you have a discussion, you will realize if it is the right move or a mistake. Don’t forget that people do make retirement mistakes all of the time, and you don’t want to be another statistic.

 

Finally, don’t do it too early. The idea of retiring and emigrating to somewhere hot is always appealing. However, it also means you have a lot of time to sit around and do nothing. Even if you work part-time and look after the grandkids, it is still a long time.

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It’s a Family Thing #wowsummit #blogher17

June 3, 2017 1 Comment

I have blogged part-time, on and off, for the last 6 years. My first site was Reviewing For You. It crashed when e-rice closed. I was ready for a change anyway and decided to start my new site in November 2014.

My sister Terri @ http://shabbychicboho.com/ has blogged full-time for over 10 years, she was my inspiration. So when I sold my business last year, I decided to blog full-time and I haven’t looked back since!!

Recently, we have enlisted our mom to help be our VA and have since introduced Terri’s daughter Tiffany @ http://www.itstotallytiffany.com/ and my daughter Hannah @ http://beachylady.com to the blogging world.

I love it, I love meeting new people, promoting my page and still get excited when I receive emails about working with a new company. Of course, I didn’t really expect to make money doing it, I was mostly doing it because I have to stay active. The main perk was receiving cool stuff for my three amazing grandsons.

This last month, I decided I would start tracking my income and was surprised at the amount my site is making. I wanted to get a little more organized since we decided to go to two blogging conferences this year #blogher17 and #wowsummit.

Hopefully, I will learn even more at the conferences and plan to do a monthly budget and set goals. I know most people do this to make money, I just wanted something to do to stay busy and find some amazing products, the making money part is just a plus.

I love the flexibility blogging offers me. I can help my daughter to build her blog site and spend time with my grandsons. Mostly I love working by the pool. If you are wondering if you can make money blogging, the answer it yes. If you have patience, work a lot of hours and don’t expect to be rich over night. You have to have a passion for it and enjoy what you do to be successful in anything.

 

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The Top Three Worst Excuses For Not Tackling Home Repairs

June 2, 2017 Leave a Comment

 

[geralt / pixabay]

 

Household repairs are a pain. As much as they’re necessary, they’re also just plain annoying.

 

For one thing, it’s a financial cost on something that is just so unsatisfying. If you go through a redevelopment or renovate a room, then you at least have all the disturbance in exchange for a shiny new area of your house. However, with repairs, you have all the disturbance but none of the newness. All you get is your house returning to how it should be – and that, no matter which way you slice it, just isn’t as exciting.

 

Given this reality, it can be tempted to convince yourself that putting repairs off is a tempting and viable way of managing your house. Doing this tends to involve a series of carefully calculated little white lies; the untruths you try to convince yourself are reasonable.

 

Now, not to burst a bubble, but… that’s not going to work for long. If you find yourself recognizing any of the below excuses, then it might be time to finally launch yourself at that repair work. A little DIY or calling in the right pro could mean you no longer have to convince yourself of the below “truths”, which – as you will see – don’t stack up to that much scrutiny anyway…

 

“It costs too much money!”

 

Finances are tight. Everyone gets that; it’s been awhile since the populace as a whole seemed to have plenty of money to spend on whatever they chose. However, the immediate way of responding to this instinct is… it’s never not going to cost money. There’s no way you’re suddenly going to be able to find yourself considering the costs and realize everyone is charged $0 for the work.

 

Then there is the fact that it could end up costing you more in the long run. If you let issues go unmanaged, they will continue to deteriorate to the point where they will cost far more than they would have done to fix initially. If you have major structural issues with the foundations or external structure of your home, then these costs could spiral from the ‘expensive’ bracket and into the ‘can we afford to live here’ section. The cost of foundation repair and other major structural work is only going to increase.

 

“I don’t have time!”

 

This is the constant – and sure, we’re all busy people… but are you going to get any less busy any time soon? It seems unlikely. There’s never a ‘good time’ for a household repair; it’s always going to involve juggling other commitments and demands on your household finances.

 

Unless you have a block of time coming up when you will have nothing to do but your household repairs (and we’re talking weeks here), then not having enough time simply isn’t a believable reason for not getting down to the work.

 

“It’s such a big job!”

 

Well – as above – the one thing to keep in mind is that that’s not going to change any time soon. Leaving it isn’t going to make the job any smaller. In fact, as covered, time is probably going to make the issue even bigger. So tackle it now while it’s still as small and as manageable as it’s ever going to get.

Filed Under: DIY Interior, Home Tagged With: , ,

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