save money Posts

5 Things to Consider Before Opening a Kids Savings Account

Are you thinking about opening a savings account for your kid? Are you a bit scared about taking the first steps and actually going through the process? Fret not, you are probably just one of the many other parents who feel the same way. The good thing is that nowadays, people are provided with options that were not easily available in the past. For one, there is Goalsetter which offers kids and parents savings options they both can benefit from. But how would you know if you are on the right track? Consider these five steps before opening a savings account for your kids.

Opening a Kids Savings Account

1. Know your options.

With the wealth of options in terms of savings account these days, make sure that you know what different choices you have. Don’t easily settle for a random suggestion from one acquaintance. Instead, do your research and ask around too. There are plenty of information readily available on the Internet now and while this can help you take a step forward, don’t forget to do your due diligence and ask from people who have already done this before. They might be able to give you some useful tips.

2. Consider convenience.

Every now and then, your kids might want to take the savings they put together to buy a new pair of shoes or what not. But not only this, there might also be times when there are emergencies that you would need an easy access to an ATM machine. Make sure that the bank you choose to open up a savings account for your kids are conveniently available.

Opening a Kids Savings Account

3. Make sure you understand the fees clearly.

Banks always have corresponding fees for various accounts. In order for you to avoid regrets along the way, don’t be scared to ask about service fees and other charges that might be incurred as you go along the savings journey. This way, you may also have a better understanding of how best to manage your kids finances.

4. Make an educated choice.

Settling for the first option you come across with is never a good move. Keep in mind that the best way to go forward is to always have options. Compare the offers and the fees and how one is better than the other and so on. If you you have to write them down together, do so. Make a list of the pros and cons if you have to. This may seem like a bit of work, but it sure would help you in making the best choice.

5. Keep your kid informed about these decisions.

If you want to raise financially literate children, then don’t just manage their finances for them. Make them part of the journey and explain it to them just how it was explained to you. Okay, maybe a little less technical, but you get the idea. After all, it’s their money and soon enough, they will have to take care of it on their own. By making them an active part of the savings journey, they will acquire the knowledge they need little by little until they are responsible enough to make their own financial decisions.

Important Money Lessons for Children

If you’ve glanced at any popular financial news outlet or seen any millennial-focused humour, you’re probably aware of the statistics… millennials are still living with their parents. While there are all sorts of reports done on the topic, the general consensus is that millennials live with their parents longer than Generation X or the Baby Boomers.

Important Money Lessons for Children

There are so many factors at play with this social trend that it’s hard to draw any general conclusions. Still, it can be said that a serious lack of financial education is part of the problem in the delayed financial autonomy of this generation. For those who find themselves struggling to balance loan repayment, bills, and unexpected costs, easy ways to borrow some money through online payday loans can end up saving the day.

Plan for Success

Quick payday loans from online sources like GoDay provide fast, reliable, and trustworthy short-term loans for those that need it and have a source of income. But how do you set up the next generation for financial success?

Surely you don’t want to plan for consistent use of payday loans, it feels much better to be in control. Financial education and financial literacy are invaluable skills to teach your children. Here are some important money-based lessons for children and the easy ways to teach and enforce them.

Start Early

You can start teaching pre-schoolers and kindergartners about money early on with the simplest of techniques: using a clear jar for savings. Piggy banks are cute and classic-looking, yes, but without a visual of what money represents, the children can’t see the money growing. As their collection of coins and the occasional birthday bill from grandma grows, talk them through what’s happening and try to convey some excitement about their growing funds.

Lead by Example

The University of Cambridge conducted a study on habit formation and learning in young children in which they found that money habits in children are formed by the time they are seven years old. That’s pretty young and it means that your behaviours towards money have an impact on how your kids see it by an early age.

Do you pay with credit card a lot of the time? Do you argue about money? Do you maintain beliefs that it shouldn’t be talked about? The little ones will be noticing, so it’s incredibly important to set a positive example that they can emulate when they grow older.

“Things Cost Money”

This is an incredibly straightforward statement but it can be hard for children to grasp if they don’t actually experience and understand it. Give children the opportunity to take money from their piggy bank and hand it over to a cashier. Explain that if they choose to buy one treat at the grocery store, they can’t get another one. This will help them learn to weigh decisions and evaluate different outcomes, laying the groundwork for smart financial decision-making for the rest of their lives.

How to Get Free Stuff and Save Money

Who doesn’t love free stuff? Getting free stuff is one of the easiest ways to save money on monthly expenses. It is true that I love free stuff and I always get free stuff that is useful for me or for my family.I hope that you like to get free stuff too.But,if you don’t know how to get free stuff in order to save money from your monthly expenses,let me help you with some quick and easy tips!

How to get free stuff and save money

Below are some of the ways I get free stuff which are helpful and essential for the life and as a result save money from my monthly budget.

Get free samples

How to get free stuff and save money

Most of the brands give samples free. These are ranging from baby milk formulas, diapers to cosmetics. Don’t ignore the value of these products simply because these are free. Popular baby brands such as Huggies, Friso and Nestle offers free samples free when you join with their parents club. There are also other cosmetics brands which offer free samples when you join with their newsletter. Check these opportunities in your area and join with them. You will love it when there are free stuffs in your post box!

Join with freebie sites  

There are some freebie sites such as JustFreebies which shares latest freebie offers. Instead of joining with many individual brands which shares free product samples or free offers, you can easily join with one such freebie offers site in order to get information about latest freebies.Sites such as  JustFreebies shares latest free offers in one place.As they categorize the free stuff details into different categories such as baby stuff,household stuff and so on,it is always easy to navigate such freebies sites to find relevant details for you.

This is one of the easiest ways to get the news about freebies and offers. If you like the freebie offer, then simply follow the instructions to claim your free stuff. It is really easy!

Get free stuff for review purpose

How to get free stuff and save money

Writing reviews is another way to get free stuff. Some business owners like to know the actual user experiences with their products. In exchange of your review, they will send you a full product sample free. If you’ve noticed, I share product reviews in this blog and after the review is posted I keep the product sample for my use. This is another interesting way to save money in exchange of opinion.

Above are some of the easiest ways to get free stuff. Try all these methods, you’d love it! It is always a cute surprise when you receive a free stuff by post! I know this with my experiences!

Best Tips to Buy Baby Products for Deal Price

I always love to buy cute and lovely products for my son. At the time he was born, I had great time making him beautiful with cute socks, onesies , caps and other accessories. It is really a lovely experience. Anyway I didn’t have much time to visit local shops. Instead I started shop online and it is really easy and a convenient way to buy baby products from home while attending other tasks.

With online shops, you can check a good collection of styles and designs before you order. This is one of the advantages of online shopping.

However, when you know some tips on how to save both money and time on online shopping, you can easily take the advantage of online shopping. Here are some of my tips to buy baby products for deal price. Hope these tips are helpful for you.

buy baby products for deal price

Shop all required items in one shop

When you shop more than one item from the same shop, you can save money on shipping. Most online shops offer free shipping after certain amount of purchasing. You can always utilize these offers.

Shop with deal sites

Have you noticed deal sites? These websites offer huge deals daily for selected items and sometimes the prices are really cheap as they give more than 50% discounts.

For example, check Frisky Deals. This online shop offers huge discounts on products including activities such as restaurants, spas and hotels and products which include baby socks and toys.

Check deal sites such as Frisky Deals and buy your essentials whenever there is a huge deal going on. This is one of the best ways to save money on baby items.

Find Coupons

buy baby products for deal price

Coupons are another great way to save money. Once you shop with an online store, before check out you can search for a coupon for the store. In this way you can easily save some percentage of money from your items.

Above are some of the ways I save money on online shopping. Currently there is a deal going on for infant baby socks and other household items on www.friskydeals.com.You can check and save more than 60% of your bill!

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