Money Matters

6 Effective Ways to Motivate Kids to Save Money

Posted Fri, 01/29/2010 - 11:14 by Staff

Money burning a hole in your kids’ pockets? Do your kids seem to think money grows on trees? Then it may be time to begin teaching your kids how to save money.

The good news is, establishing good saving habits in your kids may not be as difficult as you think. Here are six ways to help get them on the road to financial freedom:

1. Match their savings dollar for dollar, or quarter for dollar, or whatever fits your budget. What kid doesn’t like free money? Okay, so it may not be free to you, but the saving habit you are establishing now will save you a lot of money later on.

2. Give them interest on their savings. You can customize the interest rate so that their account can grow at a faster rate. This is another example of “free” money and over time will introduce them to the power of…

Six Tips to Raising Saving Savvy and Money Smart Kids

Posted Mon, 01/04/2010 - 11:18 by Staff

Want to know the secret to raising financially savvy kids? It’s simple, really. The hardest part is consistency. But once that’s mastered, the rest falls into place. And that’s a good thing because financially savvy kids are more likely to grow up to be financially savvy adults who will make spending, saving, borrowing, and investing decisions in a way that positively influences their well being.

The secret? Get money into the hands of kids on a regular basis and then let them make the decisions about what happens to that money…within reason, of course. It’s about real experiences with real money and can start as early as 5 or 6 years old with the introduction of an allowance program. The program will allow kids to “practice” money. And practicing money is how they’ll learn to be effective money managers.

Here’s how to set up the program to put your kids on the road to becoming saving savvy and money smart:

The $8000 Incentive to Buy A Home in 2009

Posted Sun, 03/15/2009 - 11:00 by sharon

Great news for anyone thinking of buying their first home or who anyone who hasn't owned a home for the past three years.

An $8,000 federal tax credit, available to people who are buying their first home this year, coupled with continued low interest rates, is fueling what may be the start of a housing sales upswing. Real estate agents say the credit, signed into law last month, has the potential to lift an ailing real estate market, which saw home sales plummet this past year.

The funds are available to first-time home buyers or someone who has not owned a home for at least three years. They must purchase a home by Dec. 1, and their adjusted gross income cannot exceed $150,000 for a joint tax filing or $75,000 for an individual.

The legislation is part of the American Recovery and Reinvestment Act of 2009. Buyers also can receive the $8,000 this year when they file their taxes, if they bought a home in early 2009.

Go Obama Go

Posted Tue, 01/27/2009 - 14:51 by Staff

I could not believe it when I heard that Citigroup was planning to buy a $50 million dollar corporate jet to replace their two "old" ones. And this is just a few months after they received $45 billion in bailout money from the government. What corporate greed.

Obviously, Obama is sick of this corporate greed also ... he just let Citigroup know that they'd better "forget" the new jet. I am so happy to have a real president in control ... a kind, human and caring president at that.

Keep up the great work President Obama ... Go, Obama, Go!

Save Money and Stop Wasting Printer Ink & Paper

Posted Fri, 01/16/2009 - 10:56 by Staff

Are you tired of running out of ink at quicker than you think you should?
Often the culprit is printing off web pages that contains lots of colorful areas or ads.

There is now a Firefox (Web Browser)
plug-in called Aardvark that you can download in 1 click which will allow you to delete big ads or elements on the page before printing the web page. Over time, this will save you from unnecessarily wasting ink.

It has 72 reviews and a 5 star rating. It was also recommended by PC World.

Go to:
https://addons.mozilla.org/en-US/firefox/addon/4111 to download the Firefox plugin.

This will only work for users that are using the Firefox Web Browser, not Internet Explorer.

Coffee Lovers - How You Can Save $1000 A Year

Posted Sun, 01/11/2009 - 11:44 by Staff

I love Starbucks just as much as any coffee drinker. I even asked for a Starbucks card for a Christmas present. But I just read something that came as a big shock to me. If I start making my coffee at home and put it in a stainless steel thermos instead of buying that $4 cup of coffee that I have become accustomed to, I can save about $1000 a year. Yes, you read that right!

Figure. If you buy one (only one, mind you) $4 cup of coffee every working day of the week, that will total $1040. Most of us have more than one cup on occasion, so we will take that into consideration and round up to $1100. But if you buy a thermos for $20, filter/papers for $10 and coffee for a year for around $60. (assuming you already have a coffee maker, as most coffee drinkers do)... and make that morning cup of coffee to take with you ... you will save a hefty $1000 during the year.

Save Money by Shopping at Thrift Shops & Second-Hand Stores

Posted Thu, 12/11/2008 - 21:20 by sharon

As an avid thrift store shopper, I guarantee that you can save a bundle of money by shopping at second-hand stores. It always amazes me that I can leave with hundreds of dollars worth of merchandise for less than twenty dollars or less.

Some of my favorite pieces of clothing have been purchased at thrift stores. You can often find clothing that has never been worn, with tags still attached. If you pay attention to some of the most eclectic NY apartments featured in magazines, some of their most unusual finds have been from thrift shops or discarded for trash.

If you live in a fairly large city, your options are increased since you will find a greater number of thrifts to choose from. The best items usually can be found in areas that are located in more upscale communities. But don't forget to check out any thrift shop close by. You never know when you might come across that great find. Some great pieces of art have been purchased this way.

2009 Recession Survival Guide

Posted Wed, 12/03/2008 - 08:31 by sharon

As we start to think about the new year that will be starting soon, we are all trying to find ways to cut back on our expenses. Many of us have gotten used to buying anything we wanted whenever we wanted. Obviously, this has contributed to the financial state of the economy.

We all have to tighten our belts now and here are some strategies to help.

1. COMPARISON SHOPPING
If you really need to buy something or are still doing limited shopping for the holidays, use the many comparison shopping websites to check prices and also find free shipping if you are ordering online.

2. NEGOTIATE
When buying anything, whether it is clothing, applicances or a car, ask for a discount or if they can do better. You can even ask your existing credit card companies for a lower rate, especially if you have been a good customer of theirs. Remember that paying cash increases your chances for a discount, since retailers can avoid paying credit card transaction fees.

Help Kids Save Money With This Cute Savings Chart

Posted Tue, 11/11/2008 - 13:22 by sharon

As we all know very well it can be difficult to save money, even in the best of times. That is why it is essential for us to teach our children, at an early age, to save money. If more of us had been in that habit, perhaps so many of us wouldn't be in such a touch financial situation right now. It's a known fact that people, particularly in the U.S., have been spending beyond their means for quite some time. It's been way to easy to get credit cards and run them up to ridiculous amounts. Poor stewardship and now we are all paying the price.

But ... the good side to all of this is that we can now try really hard to immpart to our children the importance of saving money. Even if they only earn a quarter here or there, we can teach them to start being financially responsible.

Teach Your Kids About Money- Early Lessons About Saving, Spending and Donating

Posted Fri, 11/07/2008 - 14:02 by Staff

Kids Helping

Green makes the world go round.  It seems more than ever before, many kids today do not understand how parents make money, how they decide to spend, save, donate and invest their money or how they have to allocate the household income.  To many kids money is just a means to an end.  They want something and they need money to get what they want.  With the prevalence of television, computers, radio and peer-pressure present in a majority of kids daily lives, children are bombarded by more and more commercials and messages to consume more and more material possessions than ever before.  And many parents give in and buy their kids many of the possessions their kids beg them for.

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