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21 ways to develop smart young shoppers and savers

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Learning to save money instinctively is critical to developing money smart kids in the Capital Region. By starting early, and turning saving into a habit, you’ll be preparing your kids to grow into financially stable adults. Check out these easy tips--and make it a family affair. (Source: "How Money Works for Kids.")

  1. Add to a savings account regularly.
  2. Stick to a budget.
  3. Set savings goals.
  4. Instead of hiring a contractor to do household jobs, do them yourself (i.e. washing the car or painting the house).
  5. Eat out less.
  6. Learn basic plumbing or auto repair.
  7. Give handmade gifts and cards.
  8. Shop sales.
  9. Use coupons.
  10. Compare prices--don’t buy anything at full retail cost unless you have to.
  11. Get familiar with eBay and Craigslist, as buyer or seller.
  12. Read library books instead of purchasing them.
  13. Consider buying secondhand computers, cars, DVDs/CDs, etc.
  14. Don’t carry money; cultivate the art of window shopping.
  15. Check out thrift shops, yard sales and the classifieds--you can often find brand-name items in excellent condition for a fraction of the retail cost.
  16. Repair rather than replace.
  17. Take good care of your possessions.
  18. Buy well-made products that won’t need to be replaced as quickly as others.
  19. Stick to a shopping list--avoid impulse buying.
  20. Buy in bulk--shopping at warehouses or stores that sell in bulk is a great way to save money.
  21. Go to matinees at the movies instead of full-priced shows or rent DVDs instead of buying them.

Developing smart young shoppers will benefit your household now and down the road.

Dave Balog teaches financial literacy. 355-0967.



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