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.")
- Add to a savings account regularly.
- Stick to a budget.
- Set savings goals.
- Instead of hiring a contractor to do household jobs, do them yourself (i.e. washing the car or painting the house).
- Eat out less.
- Learn basic plumbing or auto repair.
- Give handmade gifts and cards.
- Shop sales.
- Use coupons.
- Compare prices--don’t buy anything at full retail cost unless you have to.
- Get familiar with eBay and Craigslist, as buyer or seller.
- Read library books instead of purchasing them.
- Consider buying secondhand computers, cars, DVDs/CDs, etc.
- Don’t carry money; cultivate the art of window shopping.
- 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.
- Repair rather than replace.
- Take good care of your possessions.
- Buy well-made products that won’t need to be replaced as quickly as others.
- Stick to a shopping list--avoid impulse buying.
- Buy in bulk--shopping at warehouses or stores that sell in bulk is a great way to save money.
- 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. firstname.lastname@example.org. 355-0967.