Money Management Archives

Best Places to Find Cheap Christmas Gifts

canstockphoto15267563Christmas shopping can get quite expensive. There is a long list of family and friends that you want to shop for. Buying expensive gifts are unnecessary and will potentially leave you in a lot of debt if you aren’t careful. The good news is you don’t have to empty your wallet to provide a lovely, thoughtful Christmas gift for your loved ones.

Before heading out to the mall to do your Christmas shopping, make sure that you make a list of people you’re planning to buy gifts for. Planning ahead will help to ensure that you’re not leaving anyone out and this will also allow you to have your list handy while shopping. You can maximize your savings by writing down the maximum amount that you’re going to pay for each item to prevent going over your budget.

 

If you want to learn more about where you can find the best Christmas gifts on the cheap, here are a few ideas to get you going:

 

1. Homemade gifts. If you choose to give away homemade gifts, it is well received since you have taken a lot of time and effort to create it. There are a variety of homemade crafts that you can make with very little time, money and effort. For example, if you love to cook, you can bake a cake or even make canned jelly or preserves. You can simply use an old family recipe or search online for more ideas.

Other handmade gift ideas include scrapbooks, handmade jewelry and greeting cards. Personalized gifts show the recipients that you took a lot of time and thought to make them a special gift.

2. Visit thrift stores. This is another great way to save on Christmas gifts. Many of the items that’s sold at thrift shops are gently used, and will make great gifts. As you walk down the aisles, keep an open mind about the best gifts for the people on your list. In addition to selling clothes, most thrift stores have books, toys, household wares and other items that’ll make great gifts. This will help you find the hidden gems while you’re doing your shopping.

3. Look for deals at flea markets. Although flea markets are looked down by some, it’s still a great place to find high quality products at low prices. There are reputable vendors that sell anything from designer clothes to the latest gadgets. When shopping at flea markets you’ll have a better chance of negotiating a lower price with the sellers since they are trying to get rid of the merchandise.

4. Take advantage of Black Friday and Cyber Monday sales. Waiting in long lines can be stressful, but the items that you’ll find may be well worth it. Look for advertisements in the newspaper and make a list of the items that you would like to purchase. Keep in mind that you may have to include alternative gift ideas since these products will be taken off the shelves rather quickly. If you want to avoid the long lines, visit bfads.net to find the best deals from popular retailers.

 

Christmas shopping can be very stressful, especially if you don’t have a lot of money to spend for expensive gifts. You will save a lot of money by searching for great deals and making your own gifts. Your family and friends will enjoy the gifts and spending the holidays with you. Merry Christmas and a Happy New Year!

canstockphoto3162840What is the most effective, reliable and a secure means of managing your money? The answer to that million dollar question is by Opening a Bank Account. The bank is an effective means of cashing your check, managing your finances and  providing a variety of services that will help you build your savings. It is really amazing that many people think it is better to hide their money under the mattress than to put their money in the bank.

Here are 3 key reasons why you should open a bank account today.

 

Build Your Savings

You are required by most financial institutions to maintain a balance in your checking and savings account. This means that whenever you make deductions from your account, some banks will require you to save a minimum amount of money in order to continue using their services. This will lead to force saving on your part, which is a good thing.

Another benefit that’s provided by banks is the fact that you are free to continue adding money to your account as much as you would like. Your money will remain safer in the bank than hiding it under the mattress. For example, if your home is burglarized and the thief get his hands on your money, you will have to suffer the loss. You will be better off leaving it in the bank since most financial institutions are FDIC insured.

 

Build Interest on Your Savings

You are actually earning interest on your money while it’s sitting in your account. What are interest rates? These are payments that are made by the bank to your savings account for allowing your money to stay for a long period of time. Whenever you make a deposit, your bank uses a portion of it in its loan operations where it subsequently will earn interest on the loan. The income that’s receive will trickle down to your savings which is one of the ways that banks are able to make a profit.

The more money you save in your account through your deposits, you will end up receiving a higher return on your savings.

 

Build Your Nest Egg

Banks will allow you to open a high yield savings account. Certificate of Deposits (CDs) and other types of investments will require you to leave your money for a long period of time and the return on your investment will possibly be double the amount than what you would normally earn in a regular savings account.

You should take advantage of their services by speaking with a financial consultant about opening a retirement account. This will allow you to have enough money to live on when you retire from your job. Don’t put this off.

The sooner you build your nest egg, you will better prepared for emergencies and have a financially free lifestyle.

 

You have the option to open a bank account either in your local area or online. Make sure you do your homework by finding out which bank offers the highest interest rates. You also need to be aware of the amount you will need to pay for monthly fees, especially if you choose to open a  checking account. Also check out the amount that’s charged for overdraft fees in case you spend over the amount that you have available in your account.

 

Talk to an advisor at your bank about Opening a Bank Account. They offer a variety of services and your money will be in good hands. Start building your savings today and watch your money grow.

canstockphoto16950235Teen years are an important time for learning the value of money. Even though they are taught reading, math, science and history, it is unfortunate that the educational system don’t educate children when it comes to money management. How can teenagers learn the value of a dollar? For many teens, their idea of earning money is by receiving an allowance from their parents. Some parents give their children an allowance based on household chores while others don’t require their children do anything.

Getting a Summer Job is one of the best ways to teach them about hard work and  becoming responsible young adults. Below are other lessons teens can learn from securing a job during the summer.

 

1. A Summer Job will teach teenagers discipline. If your teen have a habit of staying up late and have difficulty waking up when it’s time for school or other appointments, getting a job is the best way to help them change their behavior.

The best lesson teens will learn is they are required to show up on time at their workplace. If they have a habit of tardiness, some employers will deduct their earnings or they will be terminated. This is an excellent way of learning how to balance their schedule.

An employer expects all tasks to be completed as directed, unlike parents who are forgiving if their teens’ chores aren’t done on time or correctly. Not following directions can mean they are without a job. This is a hard lesson to learn that they will never forget.

A disciplined environment can help your teen to appreciate hard work and the benefits of working in a cooperative and systematic manner. Earning a regular paycheck and gaining confidence will prepare your teen to become a responsible adult.

 

2. Hard Work Pays Off. When your teen is working in a disciplined environment, she will have a better appreciation of the value of money. She will know exactly what it took to earn her first paycheck and will less likely spend her money frivolously.

She will also learn how many hours it took of her labor to earn that money and a sense of accomplishment at being recognized for her hard work in this way.

Earning money instead of receiving it will also give her a sense of self-reliance and experience that will encourage her to take on more responsibility in the home and in the community.

 

 3. It will teach teens to balance their time. They are not adults and will need time to enjoy age-appropriate activities. Summertime is a great time for securing employment, but should be balanced with spending time with family and friends as well as enjoying their favorite hobbies.  For example, they can work a part-time job while participating in piano lessons before or after work.

 

Getting a Summer Job instead of depending on an allowance will teach teens the value of hard work and the value of a dollar. The next time your teen ask for a raise on her allowance, just say “Have you ever thought about getting a part-time job this summer?

canstockphoto3417830In today’s economy, it is important for moms to look for ways to make their dollars stretch. Being frugal is an excellent way to control your spending habits. Many people mistake frugality for giving up all things that they enjoy the most for the sake of saving a dollar. This is not the case. It actually allows you to look for ways to prevent overspending. There are several methods you can use to save money on your favorite things whether you’re shopping at the supermarket or for clothing.

 

Here are Five Money Saving Tips For Moms to stay on top of their budget:

 

Cook Dinner at Home. Preparing your own home-cooked meals instead of eating out is an excellent way to save you money. The food at restaurants are often overpriced and the portion sizes are not worth the money spent. For example, the price of one adult meal can possibly feed your family for two nights.

 

Clip Coupons. Clipping coupons is an important money saving strategy that will minimize the amount of money that you spend at the grocery store. Perusing flyers, preparing dinner by what’s on sale and using coupons can maximize your savings. Clipping coupons will help lower the cost at the cash register. Many supermarkets also double the face value of coupons up to 99 cents.

 

Pack Your Children’s Lunch. You should pack your children’s lunch rather than have them spend money buying school lunch or at the vending machine. The food and drinks in the vending machine are loaded with sodium and sugar. You will be better off packing their lunch with healthy snacks and avoid the prices of school lunch which have been steadily increasing over the last few years.

 

Make Your Own Coffee. Making your own morning cup of coffee instead of going to the café will add up, especially if you consume it on a daily basis. If your husband has a job and you’re a stay-at-home mom, prepare a travel mug for him as he is getting ready for work instead of spending money for coffee day after day.

 

Shop at Thrift Shops and Close Out Sales For Clothing. Most of the clothing at the thrift stores are gently used. Typically, worn out clothing is not accepted by thrift shop owners. It is possible that you will find brand name clothes at a small fraction of the regular price.

Another way for you to save money on clothing is by looking for close out sales. Find out if there are clothing shops that are going out of business in your area. They often have products at rock bottom prices to get rid of all of the items before they close their shop for good. You can even look for items at places like Walmart and Sears/Kmart on the clearance racks.  Shopping at back to school sales and on major holidays such as labor day and  black out sales will save you money on your favorite designer clothes.

 

Clipping coupons, cooking home-cooked meals for your family, preparing lunch for your children, making your own coffee and shopping at thrift shops are five best Money Saving Tips For Moms. Take these ideas and roll with them. It won’t be long before you will find other ways to save money on your purchases. Your budget will thank you for it.

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