Sunday, 15 May 2011

5 Tips for parents to teach children to save

Tips for parents to teach children to save:

• Set goals. Have children list all the things they want and the anticipated cost.

• Open a savings account. Around age 5, children begin to understand the process of managing money. That’s a good time to open a savings account with them.

• Pay a modest allowance. Try a dollar a week, or a set amount, for each year of the child’s age. More important than how much is that everyone understands the rules up front — including the completion of necessary chores — and that you pay the allowance consistently and on time.

• Make a plan for spending, saving and giving. Encourage children to divide their allowance and any additional earnings three ways: money for spending, money for saving and money for giving to charity.

• Use free resources. There are many free and reputable places where you can find helpful guidance to teach children about savings and finances. These include your public library or Hands on Banking, a program available free.

Sunday, 8 May 2011

Ideas for Saving Money

Ideas for Saving Money

1. "Reuse paper. Tear open used big size envelopes and use the insides to make notes. Take your own mugs to work - one for water the other for coffee." - Gop

2. "Unload: Remove unnecessary weight from your car (no, this doesn’t include your spouse). Lighten the load by 100 lbs. can improve your gas mileage by 2%." - Dough Roller

3. "Go to the grocery store with your belly full. You won't buy too many things because you just aren't hungry." Dough Roller

4. "Check your insurance coverage. Are you paying for something you don't need? We removed the maternity part of our coverage because we're not having any more children." - Miranda

5. "Try a No Spend Month, Week or Day. It forces you to think carefully about what you are spending on, and serves as a big eye opener for most people." - CentsibleLife

6. "Use old newspapers instead of paper towels with an eco-friendly cleaning product to wipe glass surfaces." - Tip Jar Team

7. "If you get the impulse to buy something wait 48 hours and see if it is still there." - asgreen

8. "Use kitchen towels and cloth napkins instead of paper products. Stop using plastic straws, you know how to drink out of a cup?! Avoid buying/taking plastic utensils. If you must, bring home, wash, and reuse. Most can be washed in dishwasher." - Mindful Mom

9. "Make it a habit to turn off the lights when you are the last person to leave a room." - Marcelo, San Francisco

10. "When shipping a package, add helium filled air pillows to reduce its weight - thereby saving on postage, helping the plane fly and reducing emissions." - Beekman, Chicago

11. "Don't buy an expensive all in one printer if you're only going to use it for documents, get a cheap laser. It will last longer, and even though the toner is more expensive, it last much, much longer then inkjet ink." - lord xeon, NY

12. "Don't buy the most expensive piece of equipment even if you think you need it. Technology gets cheaper every 3 months so today's top line is tomorrow's average and the day after tomorrow's low-end." AlexD, Romania

13. "Before you purchase anything online, go to Google and search for the name of the store + coupon and see if anything comes up. You will be presently surprised how many coupon codes are available online." - Allison

14. "Cancel your cable TV and watch free, legal internet video on various industry-run websites. Using a media center extender or small PC, connect it by VGA to your HDTV. Instead of TV on *their* time, now you can have daily shows and podcasts for free" - Sugaku

15. "Turn off the TV! Did you know that leaving the television on is the number one electricity waster in the world? When everyone is finished watching television, especially before going to sleep, turn it off." - Choose to Save

16. "Ask your physician to consider prescribing generic drugs. Generic drugs can cost several hundred dollars less to purchase annually than brand-name drugs." - America Saves

17. "Master the thirty day rule. Whenever you’re considering making an unnecessary purchase, wait thirty days and then ask yourself if you still want that item" - Simple Dollar

18. "If you're young, CouchSurfing is a great way to meet new people and save money on lodging." Navin

19. "Use the bathroom at work. You save on paper, water, and you get paid at the same time." - Murdul

20. "Stay married. Divorce will wreck your finances and your spouse’s finances" - Roller

via Google Tip Jar

22 Tips To Save Money a Week

Buy a Water Filter
Purchasing bottled water hurts not only the environment but your wallet as well.  A family of 4 can save up to $55 a week by making the switch from bottled water to water filters.
Take Advantage of Power Strips
You can cut down on your utility bill by unplugging your appliances when you aren't using them. Make the unplugging process easy by purchasing a power strip for your appliances.
Make Shopping and To-Do Lists
It  is a Must to Make a list of everything you need before you shop. Make sure your list only consists of needs, not wants. Then, be sure to stick to your list.  Group together all your errands, to get everything done in one trip, saving you valuable minutes and gas money.
Never Withdraw From "Foreign" ATMs
Everybody had done it: using the bank card at another bank's ATM to withdraw some extra cash. But every time Consumer do this, they get hit with a wonderful little fee. 
Buy Generic
Everybody can save 30 to 60 percent by purchasing generic brand food and drugs.
Cancel Your Landline
In an age when everyone has a cell phone, landlines are not necessary. You can also utilize free computer-to-computer calling, which beats using the phone because if you have a webcam, you can see the person you are talking to.
Utilize the Library
Instead of hitting up Netflix or Blockbuster every time you want to watch a movie, head to your local library for your movie rental needs. Or, if there is a new book you want to read, borrow it from your library instead of purchasing it at the bookstore.
Bye-Bye Gym Membership
Most exercises you do at the gym can be modified and done at home. Better yet, the most beneficial exercises out there are walking, pushups, and squats, all of which you don't need a gym to do.
Take Your Lunch to Work
Instead of going to the deli down the street for lunch, brown bag your lunch. You can make a week's worth of sandwiches on your own for the price you would pay for one or two sandwiches at the deli.
With gas prices on the upswing, filling up the tank can be a huge money drain. Organize a carpool with your coworkers to save money.
Walk or Bike
Ditching your car completely will save you a ton of money not just on gas but also on wear and tear on your car.
Avoid Convenience
Wash your own car, cut your own fruits and veggies, and clean your own house. If you don't think you have enough time to wash your own car, remember that there are 24 hours in the day. Even if you spent 10 hours at work, 8 hours sleeping, 2 hours cooking, and 2 hours hanging out with the family, you would still have 2 hours to wash your car or clean your house.
Pay Bills On Time
Most banks offer free electronic bill payment services that will automatically pay your monthly bills. It only takes a few minutes to set up. Do it today and never pay a late fee again.
Beautify Yourself
Beautify Yourself Instead of hitting up expensive salons, try trimming your own hair or getting a value haircut from a beauty school.
If you are going out for a night on the town, pre-game before you leave. This way you will spend less money on expensive drinks at your favorite hot spot. You can spend up to $5 for a beer at the bar or find a 12 pack that's on sale and pay just over $1 per beer.
Cancel Cable
With the ability to watch TV shows online for free, the need for cable is virtually nonexistent. Yes, it may be nice to see a show as soon as it airs, but it's much nicer to have extra money in your bank accounts. 
Make Your Own Food
While it may not be as convenient as going to the drive through or having food delivered to your house, making your own food can save you a ton of money.
Stay In
Sure, it may be mellower than going out, but cooking your favorite meal, making your favorite drink, and watching a DVD can be just as fun as a night on the town.
Make Your Own Coffee
This is a tried and true money saving technique that we have all heard, but it bears repeating. Make your morning cup of coffee at home instead of paying way more than you should for a cup  at your favorite coffee shop.
Avoid Bank Fees
Setting up direct deposit for a certain amount can often eliminate fees associated with keeping an account open. You can avoid paying overdraft fees by linking your checking and savings accounts, or by signing up for fee e-mail alerts that tell you when your account is getting close to the limit.
Use Coupons
A tried and true money saving method: before you head to the grocery store, check the ads to see if there are any coupons for the items you need.