by Mrs C | Dec 15, 2021 | Blog
The holiday season is one of the most magical times of the year. People are kinder, more generous, and it offers a great opportunity to show your love and appreciation to those around you. And one of the most established traditions of the holiday season is gift giving. But gift giving can easily become a huge expense, and this expense can make it difficult for many to give the gifts they want. But it doesn’t have to be that way. Here are a few ways that you can save money during your holiday shopping this year.
Use Coupons
Coupons are basically free money. When you use coupons to save money on your holiday shopping, you are honestly just manifesting additional money, and making the holiday season less expensive for you. Look online and check in-store flyers for coupons on items from electronics to wine and cheese. If you can’t find a good gift with a coupon, then you aren’t looking hard enough. Search far and wide, you will be blown away by all the options and variety that there is amongst coupons out there during the holiday season.
Look For Holiday Deals
If you aren’t finding any specific coupons that are speaking out to you, then you should look for specific holiday deals. Around the holidays, many stores and retailers participate in holiday deal days, where almost everything in their stores is on a steep discount for the holiday season. This is a great time to buy almost anything, including mattresses. Mattress deals can last far into the holidays starting around Black Friday and Cyber Monday. Look online or ask a store associate in person when they are anticipating having their holiday sales and plan your shopping accordingly, you could save hundreds or thousands of dollars.
Make Gifts at Home
Another great way to save money with holiday shopping is to make gifts at home when you can. While this isn’t always doable for every present you hope to give, sometimes doing a little something homemade special can help you save some money here and there on fluff items that you don’t need. Making CD’s, a painting, a handwritten card, or a scrapbook are all great and thoughtful homemade gifts that your loved ones are going to cherish.
Holiday season means gift giving season which means shopping season. And the cost of holiday season shopping can very quickly add up if you’re not careful. Try these three tips to help you save some money on your holiday shopping this year.
Read this next: How to Avoid Higher Gas Bills This Winter
by Mrs C | Dec 9, 2021 | Blog
Everybody talks about how expensive children can be, and it’s true. But just because children can get expensive doesn’t mean that your spending has to get out of control.
As your little ones grow up into not-so-little ones, the amount of money you’re shelling out tends to grow as well. Here are a few areas that you can expect to see an increase in spending as your kids get older.
Food
This may go without saying, but just in case—get ready to spend A LOT more on food! As your offspring leave childhood and head into the teenage years, you can be sure that you’ll be spending more of your income on food. In fact, teenagers need more calories per day than any other age group, simply because of the rate at which they are developing.
To prepare for this increase in appetite, plan to spend more time shopping for healthy, wholesome foods and snacks as an alternative to fast food. Fast food may be quick and accessible calories, but it generally doesn’t provide much nutritional value and too much of it can contribute to obesity and other health issues.
Braces
Braces and other dental procedures can often be an unforeseen expense. Dental work can get notoriously expensive, but sometimes having dental insurance can be sort of a catch-22. Dental insurance can cut the cost of braces in half. But at the same time, paying for years of dental coverage when you’re not sure how much you’ll be utilizing it is somewhat of a risk. Ultimately, the choice is up to you.
Entertainment
As kids head into the teenage years, entertainment (and for you, paying for entertainment) becomes a much bigger deal. Teens like to go shopping, hang out with friends, and spend money on eating out and having fun. In fact, teens account for about $250 billion of consumer spending per year.
Keeping up with teen spending can seem overwhelming, but it’s also a good opportunity to teach your kids about money management, work ethic (i.e., getting their first job), and self-control. Try looking at it as a learning opportunity rather than a hole in your wallet.
The teenage years can (and probably will be) some of the most challenging, financially, mentally, and emotionally. But knowing what to prepare for may help you feel more confident with the situation and help you to make better decisions in the future.
Read this next: Responsibilities You Have When Caring for Dependent Senior Loved Ones
by Mrs C | Dec 9, 2021 | Blog
For many adults, home ownership can feel like the most important accomplishment they are working towards, but it can also feel impossible to achieve. That said, homeownership is attainable, and it comes with some pretty amazing benefits for all homeowners. If you are on the fence about buying a home, it is important that you know what that step could do for you.
No More Rent Increases
The first thing you should be thinking about is that when you own your own home, you no longer have to worry about rent going up. Instead, your mortgage payment will stay constant and can even get lower if you pay extra to reduce the interest you’ll need to pay. You can also decrease your mortgage costs further by refinancing at a good time to acquire a better interest rate. Dealing with rising rent is a huge struggle, but if you own your own home, that is not a challenge you have to deal with anymore.
You Have More Control
When you’re renting, your landlord is in charge of almost every decision you make about your home. But when you own your own home, you can make the decisions yourself. You can make choices that save you money and make your home more comfortable. For example, split HVAC systems are one of the most efficient air conditioning systems for your home. When you own your home, you can decide on everything from the colors of your walls to your HVAC and even the way you get electricity into your space. All of those choices help you to turn your house into a home.
It’s an Investment
Generally speaking, homeownership is one of the safest investments you can make. Rather than renting, when your money goes to someone else, your mortgage payment goes towards building equity in your home. Over time you can make money from your home that you can use to relocate, or even just to improve the home you are in. Making those kinds of choices can help you to improve your home and get more out of the place where you live.
Your home should be working for you, and when you rent, it is working for someone else. Taking the step to become a homeowner can feel overwhelming, but it comes with many benefits. Start saving for a down payment so you can get closer to the home of your dreams.
Read this next: How to Avoid Higher Gas Bills This Winter
by Mrs C | Dec 8, 2021 | Blog
Investing is an important part of building your finances. Families need to be investing as they think about their money long-term. Starting early with investments is a great way for families to ensure their long-term security and happiness!
Prepare a Stable Financial Future
According to Earnest, investing money for the long term allows you to take control of your future. At some point you will either need to or want to stop working. When that day comes, you will want to have enough to support yourself. In this way, investing is not about building wealth for right now, but building yourself stability for the rest of your life and your family’s after you are gone. A great way to set your family up for the long term is to invest in retirement funds. You can make contributions into 401(k), 403(b), Roth IRA, or traditional IRA’s.
Rising Costs
Cost of goods and services are subject to inflation over time. These rising costs can mean that your hard-earned money doesn’t go as far over time. Some items subject to inflation are the cost of living, transportation, electricity, fuel, and medication. According to Xevant, the rising cost of medications is due largely to specialty drugs. Your wages may not rise at the rate of inflation to meet these higher prices. To combat this, you should look to invest your money in a place that will give you returns greater than the rate of inflation.
Wealth Creation
Investing your money, rather than putting it in a regular savings account, will ensure that it grows. When you invest you get returns long term that compound and create more money. This can help you be more financially free in the present, as well as contributing to your stable financial future. Investing can help you reach your financial goals such as buying a home or car. It would help you to do this faster because the returns on investments are higher than a bank’s savings account. According to Business Today, a saving’s account in a bank would yield 4 percent, while an investment could yield 20 percent or more, for example, given the right circumstances.
Starting early is the best option when it comes to investing. This is because the longer you have money invested, the more it can compound and offer you greater returns. Families should think about investing as soon as they can so they can build wealth now and prepare for the future.
Read this next: How to Make Extra Money with What You Already Own
by Mrs C | Dec 3, 2021 | Blog
Caring for a dependent senior relative can bring up a lot of new challenges. Whether the situation was planned for or came up suddenly, becoming responsible for another adult often forces caretakers to rethink their priorities in life. Here are a few things that you may need to step back and recalibrate in your life when becoming the sole caretaker for a dependent senior.
Everyday Care
If you are now responsible for your senior loved one, you need to concern yourself with their everyday care. This can get tough, both for you and your loved one. You may be feeling overwhelmed at first, and your relative may be a bit embarrassed or frustrated about having to ask for help with common, everyday tasks. If it’s possible, you should try and prepare beforehand for caring for your senior loved one, and even consider hiring a visiting nurse service. There are many resources out there to help you and your older loved one cope with your new reality.
Managing Finances
Now that you’re the caretaker for your older relative, you’re likely also responsible, or at least partly responsible, for managing their finances. You’ll want to start by making a list of expenses and then setting an appropriate budget. The list of new expenses can get pretty long, especially if you’re going to be living on one income. Thankfully, there are ways to get help. Healthcare expenses, which can get quite high in the latter years, are alleviated by signing up for Medicare or Medicaid. Medicaid can help cover healthcare expenses if they have a low income.
Emotional and Mental Health
You’ll also want to start becoming aware of your loved one’s mental and emotional health. Sudden changes such as going from living independently to being a dependent can give rise to a variety of emotions such as depression and feelings of worthlessness. It’s a good idea as well to familiarize yourself with the signs and symptoms of mental health disorders in the elderly, such as Alzheimer’s disease or dementia. Knowing the signs and what to look for early on can help you prepare for and make an easier transition.
Becoming a caretaker on some level for your loved one isn’t an easy thing. It can be a difficult adjustment mentally, physically, and emotionally. But doing some research and becoming familiar with your new role will help you learn how to make an easier transition.
Read this next: How to Help Your Aging Parents Retire Securely
