Financial Empowerment: Smart Financial Moves Single Women MUST Make This Summer

 

Smart Money Moves for Single Women This Summer

As the warmer weather ushers us into summer, it's the perfect time for single women to reassess and revitalize their financial strategies. Achieving financial independence is a crucial aspect of a fulfilling life, and with the right money moves, single women can set themselves on a path of security and prosperity. So, let’s explore smart financial decisions single women (like myself) should make this summer.

Budgeting Bliss

Here’s an oldie, but a goodie…budgeting. The foundation of any sound financial plan is a well-structured budget. Single women can take control of their finances by creating a detailed budget that accounts for income, expenses, and savings goals. Utilize budgeting apps and tools to track spending patterns and identify areas for potential savings.

Emergency Fund Essentials

Life is unpredictable, and having a robust emergency fund is vital for weathering unexpected storms. Single women should aim to save at least three to six months' worth of living expenses in an easily accessible account. And, trust me. I know this can take a while, but this financial cushion provides peace of mind and protects against unforeseen challenges.

Debt Elimination

High-interest debt can be a significant obstacle to financial freedom. Single women should prioritize paying down debts, starting with those carrying the highest interest rates. Consider debt consolidation strategies and negotiate with creditors to explore more favorable terms.

Investing Insights

Building wealth requires more than just saving money. It involves strategic investing. Single women can explore various investment options, such as stocks, bonds, and mutual funds, to grow their wealth over time. Diversify the investment portfolio to mitigate risks and align investments with long-term financial goals.

Retirement Readiness

Planning for retirement is a critical aspect of financial preparedness. Single women should take advantage of retirement savings accounts like 401(k)s and IRAs. This may be the long game, but planning for retirement is vital. Maximize contributions and consider consulting with a financial advisor to ensure an optimal retirement strategy.

Insurance Intelligence

Protecting oneself from unforeseen circumstances is paramount. Single women should review and update their insurance policies, including health, life, and property insurance. Ensure coverage aligns with current needs and circumstances.

Career Advancement Strategies

Increasing earning potential is an essential component of financial empowerment. Single women can explore professional development opportunities and negotiate salary increases.

Real Estate Realities

For those considering homeownership, summer is an excellent time to explore the real estate market. Single women should conduct thorough research, consider affordability, and explore mortgage options. Homeownership CAN be a valuable long-term investment.  

However, homeownership can also be a LIABILITY for single women. Why? Because homeownership can lead to added expenses. If you are a follower of “Rich Dad, Poor Dad”, then you know that some people feel that purchasing a home is NOT a smart move.

I am straddling the fence. I do believe that owning a home can cost you money. But, I feel that it is a smart investment.

Educational Endeavors

Investing in education and skill development can open new doors of opportunity. Single women can consider pursuing further education or certifications that enhance their professional skills and marketability. This investment in oneself can lead to increased earning potential.

Prosperity Mindset Shift

Cultivating a positive and prosperity mindset is crucial for financial success. As single women, we must focus on building confidence in financial decision-making, practicing gratitude for current financial achievements, and embracing a growth-oriented attitude towards money.

This summer, single women have the opportunity to take charge of their financial destinies. By implementing these smart money moves, we can pave the way for greater financial independence, security, and a brighter future. From budgeting and emergency funds to investing and career advancement, each step contributes to a comprehensive and empowering financial strategy.

Other Articles to Read:

https://2cuteclassroom.com/the-most-important-financial-steps-teachers-should-take-now-to-create-a-secure-financial-future/

Videos to Watch: 

https://www.youtube.com/watch?v=THGMH-8j6cw

https://www.youtube.com/watch?v=lltgN_nZD0g

How to Keep Your Kids from Blowing Your Budget this Holiday Season

Teaching Your Kids Money Management this Holiday Season

Black Friday and Cyber Monday is almost upon us! If you’ve ever taken your kids shopping with you, then you know that trying to get them to understand the importance of careful spending is almost impossible. The holidays can be especially difficult with all those tempting items on full display. Even a disciplined adult can find those Black Friday deals hard to resist. So, what do you do to keep your kids from blowing the budget this holiday season?

Allowance

Start with an allowance. Your kids need to know what it means to receive and manage money. An allowance is a great place to begin teaching them about financial responsibility.

Setting and keeping financial goals

Your children are more likely to stick to the budget if they have something to work toward. You can help your kids set financial goals. Maybe, they are working toward that hot, new electronic game or some other piece of tech gear. Maybe, they simply want to buy toys. No matter what their goals are, you should sit down with them and help them to figure out how much money it will take for them to accomplish this goal.

Distinguishing Between Wants and Needs

Our kids can have a hard time discerning wants from needs especially during the holidays.  I use the following technique to get my son to identify the difference: When he asks me about making a purchase, I ask him these questions, “Is this an absolute necessity? Will this fit into your budget? Will this help or hurt your efforts to reach your financial goal?”  Then, I make him wait at least 24 hours before making the purchase. This gives him time to actually think about the purchase and decide if it is the right one for his budget.

Visual Reminders

 “Out of sight, out of mind.” It is easy to forget what your financial goals are when confronted with things that offer instant

gratification. It can be hard to resist those designer clothes or latest electronic gadget. I know it is for me. And, chances are pretty good that your kids find it even harder. So, what is the solution? Keep visual reminders.

You and your kids can keep a mini copy of your budget with you while you shop. There are a variety of apps available for you to choose from to help keep your goals visual.

Help them Create a Realistic Budget

Help your children create a budget. There are some great budgeting apps out there to help your kids get on track with learning how to manage their money. Some apps to consider are:

FamZoo

Rooster Money

Bankaroo

Piggy Bank

BusyKid

GoHenry

GreenLight

Be sure to check out this video by Brittany Flammer for more information on these apps and to see if they are a good fit for you and your kids:

https://www.youtube.com/watch?v=pSLmPosyAeg

My son is sixteen, and I want to teach him about money without putting my money with his. I also want to teach him some simple investing skills so, BusyKid is the app I’m most likely to get.

However, I still like to use pencil and paper first. You can decide for yourself which way you like the best.

You can begin by having your children write down all of the money that they have coming in. This should include their allowance, gift money, or many from any odd jobs. Next, have your children list any expense that you plan on having deducted from that money. This should definitely include the things that they want to buy during the holiday season. Then, do the math together. This will help give them a realistic idea of how much money they have, how much the desire item costs, and if they can afford it. By helping your children create budgets, you are helping them learn how to control impulse spending.

Coupons & Codes

Another way you can help your child to stick to the budget is to help them look for valuable coupon codes or discounts on the things they want to purchase. Some stores have rewards programs that reward its members with discounts. These discounts can prove invaluable especially during the holidays. Also, there are apps like Fetch and Ibotta that give points to its users that can be redeemed later.

I have both apps. However, my favorite is Fetch. It’s a little easier for me to understand than Ibotta. However, again, this goes to preference. You can usually upload the same receipts on both apps. The most important thing is that you download the apps and get started saving. If you want to use my coupon code to get bonus points, be sure to use the code listed below.

Lead by Example

You are your children’s first teacher. Be sure to teach them the correct way to manage their money. Lead by example. Let them join in while you prepare the family budget. As you or you and your spouse are creating the family budget, explain to your kids what you are doing. Explain why you have to put a certain amount of money back a week back for emergencies or saving. 

Let them see you downloading coupons and coupon codes. Allow them to watch you use your discount codes and cards. Allow them to pay for items using your codes.

Make Your Child Financially Responsible

Give your children some financial responsibility this holiday. Make them responsible for purchasing some of the Christmas gifts themselves. Make them purchase that coveted item with their own money. Show them what paying bills entitle.

Savings Accounts & Investing

Now, is also a good time to open a saving or checking account. Instead of letting them blow that Christmas money from Grandpa, have them open a Saving Account. If possible, have them use some of the money their money for investing in stock. This doesn’t have to be a large amount. They can get started investing with as little as $10 or $20. This will teach them financial accountability.

https://youtube.com/shorts/zdgZipBxxhE

As the holidays approach, it is so easy to get caught up in sales and other gimmicks. Budgeting is difficult for adults, and your kids are definitely no exception. Most children have little to no impulse control. However, you CAN prevent your child from blowing the budget. Teach them valuable money management skills this holiday season.

You can also check out my book on saving money:

https://www.amazon.com/Less-Everything-Even-Some-Things-ebook/dp/B00X6KV866/ref=sr_1_12?crid=1DZUH3FNXQ7UK&keywords=lawanda+shields&qid=1668288580&sprefix=lawanda+shields%2Caps%2C140&sr=8-12

 

How Moms can Save Money on Groceries in 2022

 

Ways for Parents to Save Money on Groceries

With the rising cost of food, most of us are all feeling the burn. The grocery store is no exception. In fact, it is one of the main places that our wallet is feeling the burn. Digital coupons can help, but with inflation pushing prices up, it’s going to take a money-saving strategy. Here are a few suggestions on ways to keep your grocery bill from getting too far out of hand.

Having a plan

Before you head off into the store, have a strategic plan.  Look through your sales circulars and make a list of the items to be purchase.  Check your pantry and see what items you need.  Making a menu for the coming week will also help you know what you will need to purchase. Have a detailed list ready and a budget set before you hit the store.  This will save you both time and money.

Sale circulars

First things first. Always check the sale circulars before heading off to the grocery store. The sales papers contain the list of items that are on sale. Be sure to get the circulars for more than one store and compare the prices. The same items may be at a lower price at a different store. Thanks to technology you don’t even have to get the actual paper. Most stores like Walmart and Walgreens have website where you can easily check the price of different items and compare them.

Consider Grocery Pickup

Whether you like grocery pickup or not, it is a way to help control your spending on food. My ordering online you can easily monitor what is in your cart and how much your groceries are going to cost before you check out. This will help to ensure that you stick within your budget. When you go into a regular store, you can easily get distracted. You may find yourself at the check out counter with items, you didn’t mean to purchase. As a result, you may go beyond your budget.

Pet Food

We all love our pets, and it can be easy to forget about averaging in the pet’s food with the grocery bill. Pet food can get to be extremely expensive, and it can help wreck your grocery budget. I’ll be one of the first to admit that it’s easy to overlook to forget about pet food. Figure out how much food your pet are consuming and add this to your grocery bill.

Price checking

Items like milk, eggs, and sugar are grocery staples. The price on these items should be check for at least two to three weeks in the stores in which you shop the most often. Stores will often list items in a sale circular that are actually regular price. By doing a price check for several weeks on these items, you can identify if they are really on sale.

Budget for inflation.

Since prices have gone up, you will have to increase your allowance for food, or you will have to cut back on the groceries that you buy. Inflation is over 8% at the present. So, that means you should allow yourself an additional $8 to $10 per month. That may not seem like a lot, but it can add up in the long run.

Buying in bulk

When a nonperishable items that your family uses regularly go on sale, buy them in bulk from your regular stores. Various stores will often has staple items on sale each week. When these sales hit, you should purchase at least 3 of the items in order to stock up. If possible, purchase enough to last for several months. Believe it or not you can actually freeze cheese, whipped cream, and other products. Cheese should be shredded before freezing because the texture can change.

If you really want to be smart, invest in a food vacuum. This will allow to vacuum seal bulk purchases. Fruit unfortunately is perishable. So, unless you plan on canning these items or create smoothies, only purchase them as you plan to use them. Some people argue the case for freezing fruit. I am not one of those people.

https://www.youtube.com/watch?v=tfncbdITnec 

Check Various Stores

Shopping at more than one store has its advantages.  Different stores can have different staple items on sale. By shopping at more than one store, you can get several items at a low price. Also, this helps you to identify who has the best deal on a product.

Be Mindful of the Meat

For most of us, meat is the main part of our meals. Unfortunately, meat is the most expensive item on our grocery lists. You can help keep your grocery bill low by rethinking the way you look at meat. Instead of making meat your main item for meals, consider it a side dish. Decrease the portion size you put on your plates and bulk up on vegetables and other side dishes. Another option is to go meatless one meal per week.

Monitor Your Receipts

Be sure to check your store receipts.  Some receipts have coupons that print out on them or promotional offers. Store receipts may also have surveys on them, and they offer free items as rewards for answering the survey.  Checking receipts will also ensure that you are getting an item for the correct price.  Mistakes do happen at the checkout.

Stop Impulse Shopping

Don’t be drawn in by those mini-items at the check-out line. They have been strategically placed there to get your attention while you are waiting in line to check out. Stick to your shopping list.

Only buy what you need. Don’t buy an item just because it is on sell. If it isn’t on your shopping list for the week, leave it in the store.

https://funcheaporfree.com/7-reasons-why-i-dont-believe-in-couponing/

Grocery prices are at an all-time high. Inflation is forcing many of us to become more mindful of our shopping habits. So, before you head off to the grocery store be sure that you have a strategic plan in place and a set budget for your trip. Happy shopping.

https://www.youtube.com/watch?v=Hp2YD4mEEac

 

Money Saving Tips for Teachers

Okay, teachers, you know we spend tons of our own money on our classrooms and school supplies. Whether you are spending your own money or the school district’s money, get the most for your buck. The following are some money saving tips that you can use.

Set budget

This goes without saying, but it deserves saying again. Have a set amount of money that you plan to spend on those school supplies and don’t go over it. Trust me. I know how tempting it is to grab that extra pack of paper or container of hand sanitizer. But, stick to your guns and only buy what you have figured into your budget.

Have a plan

Before heading off to grab that box of copy paper or box of crayons for your classroom, have a detailed shopping plan. Look through sales circulars and see if you can find a deal on the items that you need to purchase. Usually office supply stories are running a sale on these items, so take the time to check. This will save you both time and money.

Know When to Shop

Knowing when to shop is just as important as having a plan and a budget. Even if you are making purchases with your school money, you should make that money stretch as far as you can. So, learn the right time to make purchases. Paper, pencils, crayons, storage disks, and other school supplies tend to go on sale just before school starts. So, it pays to stock up on these items before school starts. Computers are best purchased in September, the last of December, and late June according to Decide.com. Try to make your purchases around this time.

Buying in bulk

Just as you would stock up on nonperishable items when they are on sale for your family, you should do the same for your classroom. When items like crayons, copy paper, pencils, scissors, and glue go on sale, buy them in bulk. If you buy these items in bulk, you will not have to purchase them again until they go back on sell.

Consignment shops

Consignment shops have a wealth of things that teachers can use. I have often found reading books, clothes, and other items that I can use in my classroom in a consignment shop. The shop that I frequent is Buzzy B Consignment in DeKalb, Mississippi. I have been able to grab several great reading books for $1.00 or less. They also have movies and other school related items. I will also confess that I have made several clothing purchases at the store. Most of these clothes were new and still had the tags on them.

Store loyalty cards

Another way for teachers to save money is to use store loyalty cards. Stores like Office Depot, Office Max, Fred’s, CVS, and Walgreens have loyalty cards. These cards can help to save you tons of money in the long run. Office supply stores will often give you discounts for being a teacher and for purchasing a certain monetary amount. I recently purchase computer ink for only $5.00 after I received my store rewards. Are you wondering how drug stores like CVS and Walgreens can save you money? They sell school supplies and they put these items on sale on a regular basis. So, take the time to fill out for those loyalty cards and start saving.

Teaching may be a job of heart, but it can cause havoc on your wallet. Use tips above and start saving.

http://www.9news.com/money/consumer/275531/103/The-best-time-to-buy-a-laptop-computer
http://www.moneymatters360.com/idex.php/tricks-saving-money-on-back-to-school-shopping-1584/
http://voices.yahoo.com/things-know-start-stockpile-11903485.html