Posts Tagged ‘money’

By Nicole Meltzer, RMT, CHt

Besides questions concerning childbirth, the next most frequent question I am asked by first-time expectant moms is “how do families afford the cut in income while on maternity (or paternity) leave?” From my own experience as a self-employed mom of two boys and from the ideas I received from mypostpartum moms over the years, I have compiled what I consider to be the top 5 ways to save money in the first year of your child’s life.

1. Breastfeed – Besides the well-documented health benefits for both mom and baby, you can’t find a better way to save money. The truth is formula is expensive and breastfeeding is free! Breastfeeding doesn’t come naturally for some women, so if you experience difficulties, seek out some of the fantastic support available from lactation consultants, postpartum doulas and La Leche League. Although there are some women who are unable to breastfeed due to medical reasons, most women, with the right support, are successful with perseverance.
2. Cloth Diapers – Disposable diapers are not only costly for your pocketbook but also for the environment. Cloth diapers are much more economical and are easy to use. If you can’t stomach the idea of washing them, there are cloth diaper cleaning services. However, if you really want to save money, wash them yourself. Once you’ve done it a few times you become desensitized! Anyway, once your baby is past the 3 week mark chances are you’ve already been peed on, pooped on and/or vomited on! My husband and I did a rough calculation on the money we’ve saved by using cloth diapers and it’s over $1000. The best part about using cloth diapers with your first child is, with subsequent babies, you don’t have to repurchase diapers!
3. Make your own Baby Food –The best way to ensure you know what your child is ingesting is to make the food yourself. It’s very simple and is quick if you have the right tools. Take a class to learn how – the investment of time and money will pay off!
4. Join local mom/dad’s groups – There are many groups who meet regularly at each other’s homes. If your days are filled with play dates at parks and others’ homes, you are less likely to feel the need to fill them with costly programs! The benefit too, is the potential for long-lasting friendships – for parents and children.
5. Learn to budget – Budget doesn’t have to be a bad word! Set up a simple spreadsheet with a column for inflow of money and a column for outflow of money. Each time you receive a bill or bank statement, enter it into the spreadsheet. You’ll quickly see where you’re money is going and where you can cut some corners. And as a bonus, you are setting a good example for your children on how to manage money!

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Nicole Meltzer, RMT, CHt is co-founder of Balanced Body Mind Spirit. Through her specialization in fertility issues & prenatal care she helps parents conceive and achieve balance while on their journey into parenthood. Nicole offers pre/postnatal & pediatric Massage Therapy; Hypnotherapy for children, fertility and childbirth; Reflexology; & Reiki. She teaches a variety of classes including, Hypnosis for Childbirth, Tools for the Birthing Partner, Focused on Fertility, and Infant Massage. To learn more, visit www.balancedbodymindspirit.com

In a June 2008 article, financial columnist Gordon Powers wrote, “Too many people don’t really understand how to manage money, which may be why they have so little of it to work with”. In his article, he quotes Finance Minister, Jim Flaherty who said “many Canadians struggle with unmanageable debt, fail to save adequately for emergencies, college or retirement, and generally make countless other poor financial choices that eventually leave them worse off. The root cause? Financial illiteracy”.

On January 27, 2009 Minister Flaherty tabled “Budget 2009: Canada’s Economic Action Plan”. In his speech he announced new measures “to raise the level of financial literacy” of Canadians by “establishing an independent task force… on a cohesive national strategy on financial literacy”.

At Moonjar, we believe that teaching financial literacy needs to begin at a young age. Since 2001, Eulalie Scandiuzzi, the creator of Moonjar, has been providing fun products that focus on financial life skills and the art of communication for independent young minds.

The Moonjar Moneybox, a teaching bank divided into three individual compartments for Saving, Spending and Sharing. It is a tool parents can use to teach positive money habits to their children and that helps create opportunities for conversations about money.

Brent Dobson from Moonjar Canada says “teaching children about money can be challenging for parents. The Moonjar Moneybox is a tool that helps open the money conversation and provides valuable financial skills. Children will visualize what their money can be used for. Moonjars offer an opportunity for kids to manage their money by teaching them how to

use it – through the concepts of Save, Spend and Share. They provide parents with a fun, financial literacy tool for their family.”

Moonjar offers these tips to parents for starting the conversation about money:

• Talk with your young children about money concepts. Most children, beginning at age 4 or 5, are visual learners, so using hands-on tools like cheque registers and moneyboxes can better help them learn concepts such as allocating funds and what interest means.

• Set goals and prioritize. Use pictures to help them visualize their goals and then prioritize what they are saving for, what the want to spend their money on, and with whom or with what they want to share their money. Set short and long term goals then discuss where the balance should be spent and shared on an ongoing basis.

• Discuss the difference between wants and needs. Working with them to set goals will help in overcoming the desire for “instant gratification”.

• But… let them make a few mistakes. Children, like adults, learn from their mistakes. From time to time, allow your child to buy a toy you believe will not be enjoyed very long, for example. Sure, they may be disappointed in a few weeks, but many lessons can be learned from this experience. Encourage them, without guilt, to plan their future purchases, weigh the cost and the benefit of their choices and to think twice next time, even sleep on it.

• Encourage young giving and youth philanthropy. Help your children understand that they are part of a larger world community through discussions about sharing their money and/or donating time to causes of their choosing.

• Be a good role model. Make sure your children see you doing the things that you are teaching them. Let them in on your bill paying, savings and investment plans and charitable giving. Discuss your attitudes and philosophies about money and tell them your dreams for how your money can fuel your passions.

Above all, keep the conversation about money open and honest and help teach your kids valuable money lessons.

Aritlcle by Bent Dobson of Moonjar Canada.

It’s that time of year for fresh starts and organization.  Marcia Garcia shares with York Region Parent some ideas to get your bills organized!

1. KEEP YOUR PENDING BILLS TOGETHER, IN ONE DESIGNATED AREA. As soon as your mail arrives, or at your designated mail sorting time, sort through the mail, separating your pending bills from all of your other mail. When done sorting, immediately place your pending bills in a bill paying system. Of course, we recommend the Get Organized Now!^TM Easy Bill Paying System!

2. DO NOT SEPARATE EACH PENDING BILL INTO A SEPARATE FOLDER. Whatever you do, don’t put your utility bill in one folder, your car insurance bill in another folder and your membership dues bill in another. All pending bills should be together so they can be paid without having to search 10 different places to find them.

With the Get Organized Now!^TM Easy Bill Paying System, all of your pending bills are conveniently placed together in the very first pocket. All paid invoices then get filed in the individual categorized pockets that follow. This system works like a dream!

3. DESIGNATE 2 TO 4 REGULAR DAYS PER MONTH TO PAY YOUR BILLS. Ninety-nine percent of the time, you don’t have to drop everything you’re doing when you get a bill in the mail to pay it immediately. Designate 2 to 4 consistent days per month and do all of your bill paying on those days.

My husband and I pay our bills on the 8th and 22nd of each month. You may do the same, or perhaps you might want to pay any pending bills one day per week, such as, every Friday.

4. PAY YOUR BILLS IN ONE PLACE AND KEEP ALL OF YOUR BILL PAYING ESSENTIALS TOGETHER. In order to speed up your bill paying efforts, always pay your bills in one place, whether that place be your desk, the kitchen table, etc. Wherever it is, this area should be equipped with your bill paying system, checkbook, envelopes, stamps, pens, pencils, a calculator, tape, a stapler and return address labels. Keep all of these supplies in a plastic container.

5. IMMEDIATELY RECORD YOUR PAID BILLS. As soon as you pay each bill, immediately record the payment in your check register or computer software register. Don’t wait until later because if you do, there’s a good chance you will forget. And once you forget, you’ll have to waste time and money later dealing with overdrawn account fees.

6. IMMEDIATELY STORE PAID INVOICES AND RECEIPTS. Once you pay your bills, mark your copy or section of the invoice with the Date Paid, Check Number and Amount Paid. Then, file each into the appropriate pocket of your Bill Paying System with one pocket for each category; i.e. Utilities, Insurance, Credit Cards, etc.

7. ORGANIZE YOUR CANCELLED CHECKS AND CHECKING ACCOUNT STATEMENTS. Every month you will receive checking account statements, and possibly cancelled checks, from your bank. Immediately place them in a folder until your designated monthly date rolls around to reconcile your checking account. Then, keep your statements and cancelled checks all together in a folder for the year. You may need to retrieve them later for your accountant when tax season rolls around.

By the way, any bank statements and/or cancelled checks more than a year old can be stored away in a different area than your current files. You may also consider checking with your accountant to determine how long he or she suggests you need to keep this information.

8. CONDENSE YOUR CREDIT CARDS. The more credit cards you have, the more difficult it is going to be to keep them organized, and the longer it’s going to take you to pay your bills. Whenever possible, condense your many credit cards into 2 or 3 credit cards, and get rid of the rest.

9. PREPARE ENVELOPES FOR RECURRING BILLS BEFOREHAND. For recurring bills, such as mortgage, rent or loan payments, you’ll save a lot of time preparing a bunch of envelopes for each beforehand. For example, let’s say you have to pay the rent each month. Make a year’s worth of envelopes out with your landlord’s name and mailing address, your return address and a stamp. This way, everything will be all set to go each month. You just write out a check, place it in the prepared envelope and mail.

10. SIMPLIFY EVEN MORE WITH INEXPENSIVE MONEY MANAGEMENT SOFTWARE. If you’re paying your bills manually, you may consider purchasing inexpensive, money management software. My husband and I use Quicken. It’s a breeze to set up and reduces the time it takes us to pay our bills by more than 50%. Plus, it’s a great time saver at tax time because it will automatically organize all of your income and expenses, with a print-out, ready for your accountant.

by Maria Gracia - Get Organized Now!TM

Want to get organized? Get your FREE Get Organized Now!^TM Idea-Pak, filled with tips and ideas to help you organize your home, your office and your life, at the Get Organized Now!^TM Web site
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How to fly, stay, and eat for less…

The weather’s bad and the news is gloomy; time to escape with the family for a week and decompress on a beach - right? Unfortunately, the economy is just as nasty as the weather and the news, and many are opting for “staycations” or canceling their travel plans altogether. For me, neither are appealing options… If I stayed close to home I’d never relax or let go of the chores that need tending to. If I cancelled our trip, I’d be even more miserable.

Back pre-baby, I was the cheapest traveler around. I flew on rickety airlines at awful times, I stayed at hostels and tiny b&bs, and I’d live for days on end on nothing but bread, cheese, and wine. But now that travel involves more than a backpack on my back and time on my hands, I’ve found it a challenge to travel on the cheap while still maintaining a certain level of comfort and safety for my daughter. However, I’ve now got a number of trips with her under my belt, and I’ve leaned some money-saving tricks along the way.

The economic crisis has affected the travel industry as well, so if you’ve already socked away your travel money, you may find it goes further than you were expecting it to with reduced prices on different types of packages. However, if you’re building a trip from scratch, here are some ways to fly, stay, and eat for less…

Kids, no matter what are awalys happiest on the beach!

Flying for less:

If you’re close (even close-ish) to an American gateway, it’s often worth the extra travel time to fly out of The States. For example, flying direct to Tampa from Buffalo added about 2 hours to our journey (we got lucky at the border) but the total cost for all 3 of us to fly was less than the cost of one fare on a Canadian carrier. Long-term parking from Buffalo airport worked out to less than $10 a day. Some hotels nearby even offer free parking for up to 2 weeks (plus shuttle to and from the airport) if you stay with them the night before your flight. Just a quick peek at some fares on US carriers for the third week of January: Buffalo to Tampa return: $215 USD, Burlington, VT to Cancun: $404 USD, Bellingham, WA to San Diego: $178.50. All prices quoted are taxes-in!

If a US gateway is not a possibility for you, keep your eyes peeled for seat sales and charter sell-offs. Also note that a mid-week departure is often significantly less than Saturdays or Sundays.

Staying for less:

They say that that travel is one industry that has been completely revolutionized by the Internet, and the Internet is your friend when looking for deals on accommodation. If you

‘re looking for a small, family-friendly motel or b&b, chances are they have a website and chances are there are reviews to be found online as well. One thing I’ve noticed over the years is that the hotels that are part of a package also book separately and the rate is often reduced. This works out well for you if you’ve done your research and found a great flight online! The types of deals usually to be had are 7 nights for the price of 5 and amazing mid-week deals as well. As with any brochure, the web site of any hotel is meant to sell the property and may very well glamorize the rooms and amenities. This is where online reviews come in. Once you’ve sorted out your flight and hotel, you can then prepare to save money elsewhere.

Eating for less:

In a word: self-cater (ok, technically that’s two!) This was never an appealing option for me as I thought cooking on holiday was not my idea of a good time. However, the more we’ve done it, the more I prefer it. Not only do we eat healthier and save lots of money, I’ve also come home at least the same weight as I left (I’ll admit to a bit of a self-control issue when it comes to buffets).

In order to make your self-catering experience as stress-free as possible, locate the nearest grocery store online before you go and have a few snacks and essentials on-hand so you’re not scrambling as soon as you check in. We also keep our breakfasts and lunches very simple, and go out for nice dinners. A loaf of bread, a few spreads, a box of cereal, milk, juice, cold cuts, fruit and pre-sliced veggies (and often prepared salads) have kept us full and satisfied with a minimum amount of fuss or dishes. We’ll indulge in a couple of great brunches to fulfill the requisite vacation bacon & eggs, but otherwise our mornings are less rushed and if our early riser decides to rise extra-early, we’re not constantly checking the clock to check out when the restaurant opens!

Beer and wine are usually available at grocery stores in most other countries, and usually at incredibly low prices. If you’re not renting a car, have one stay back with the kids while the other shops and grabs a cab back to your hotel.

The bottom line:

Travel is a luxury, and tough times often means giving up luxuries. But for me, travel has become a necessity, so I have to find ways to make our money go further. While this has sometimes meant staying in minimalist accommodation and/or curtailing fancy activities, my daughter only knows she’s on a fun adventure with mommy and daddy and their full attention. She was just as happy on the beach with a bucket & shovel as she was at Disney World, and so were we!

Corinne McDermott is the founder of Have Baby Will Travel - your online guide to traveling with babies and toddlers. For more information please visit www.havebabywilltravel.com or send a message toinfo@havebabywilltravel.com

Are you looking for inexpensive Christmas gift ideas this season?