You Can Improve Your Household Budgeting

Yay! Love those leftovers. Two of my favorite ... 

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If your household expenses seem too high, and you’re having a hard time making ends meet, you may need to take a new look at your household budgeting. Here are a few small things you can do to improve your income.

Leftovers

How often do you throw away leftovers after dinner? It’s time to start eating them. Some food items are much cheaper when you buy them in bulk. Make more quantities of favorite meals and freeze them in individual or family size servings. For example, a bag of dried beans will make enough to fill about half a dozen cans. One bag of beans costs less than one can.

Other foods that freeze easily without losing their texture and flavor are chili, grilled chicken, soups, and even cookies. All of these things are fairly cheap to make homemade. You’ll save a huge amount of money in the long run if you ditch the processed foods and make and freeze your own.

Clothesline

Clothes fresh off the line smell so good. It really doesn’t take any longer for most things to dry on the line, either. If you don’t like stiff towels and sheets, pull them down right before they completely dry and throw them in the dryer for few minutes. However, use the line. It will save you money on your electric or gas bill, and you can stop buy dryer sheets.

Use Ammonia and Vinegar to Clean

One gallon of lemon scented ammonia costs about $1.99. Vinegar is less than $1.00. Ammonia can replace surface cleaners like 409, and vinegar can replace window and glass cleaners. You can also mop with ammonia and just a squirt of dish soap. These are old-fashioned, inexpensive solutions that work.

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Does Your Child Have a Savings Account?

Her first credit card 

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Today’s adults are not so good at saving money. Many have over-extended credit cards, expensive cars, and huge mortgages. They don’t have any money to fall back on, either. It may be too late for you, but don’t set you child up to fail. If he doesn’t have a savings account, get him one, and teach him how to save his money.

Kids are impulse driven. The younger ones have no concept of value or the cost of goods. Therefore, they’ll spend $1 as quickly as they’ll spend $20. As they’re learning the value of money, you can also teach them a thing or two about personal finance and budgeting.

If your child gets $20 for his birthday, make him put $15 in his savings account, and tell him the other $5 is his to manage and spend wisely. He’ll immediately understand that he needs to protect his cash; not only by saving it, but by thinking about what he purchases. If you really want to teach him some finance lessons, set up some spending scenarios and have him work through them.

  • Candy v. Video Game Download - if your child wants to buy a $2 bar of candy, and he’s also bugging you to download a $1.99 game app onto your phone, give him a choice. Ask him which choice will give him more pleasure for his money? The candy gets eaten once. The game gets played several times.
  • Give you a dollar v. loan you a dollar - what a great way to make him understand credit. Tell him you’ll pay the loan back with interest, just like you do to the bank.

Make your child’s relationship to money interactive, and the savings part will be easy.

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