Search Results for: budget

Restrain Holiday Eating and Spending for a Happier New Year

November 23, 2015 By MelissaB Leave a Comment

Have you been in this situation before?

You want to start a diet and shed a few pounds, but you decide, since it’s November already, you should just wait until after the holidays. You tell yourself you’ll have a fresh start January 1^st. New year, new life, all that.

This plan may sound good to you, but since you keep thinking about the diet you’re going to start in January, you indulge more than you normally would over the holidays and gain 10 pounds. Now, you have an even bigger job ahead of you come January 1^st.

If you had instead started your new eating plan at the beginning of the holiday season, you would have had better control over your eating. You likely wouldn’t have gained weight. If you were doing great and were motivated, you may have even lost weight, but let’s be honest—even remaining the same weight during the holidays is an accomplishment.

We’re in November, which is when most people are at risk of two negatives—eating too much and spending too much.

Just like the decision to lose weight, many people may decide to start focusing on managing their money better after the holidays. After all, there are so many presents to buy and parties to host. Getting on a budget isn’t possible during the holidays, they think. And then, because they’re not keeping an eye on their finances, they spend lavishly and find themselves facing an exorbitant credit card bill that they can’t pay in full.

Sound familiar?

Why not make this year different?

Yes, the holidays are right around the corner, but it’s not too late to keep your finances in check. Here are some simple strategies:

Don’t give gifts to everyone. If you don’t have a lot of money saved up for gifts, don’t go into debt to buy them. Think about it. Do you remember what gifts you received for Christmas last year? Do you remember who gave them to you?

Yeah, I thought so.

I remember only one gift from last Christmas, even though I got several.

Give a gift that you can pay for later. I love this strategy! If you don’t have a lot of money for holiday gifts but still want to give something, consider offering a gift at a later date. For instance, you could offer a close friend a present of dinner and a movie at a time of her choosing. Maybe she decides in March that she’d like to take you up on the offer. You’ve had three months to save the money for that gift.

Don’t give in to peer pressure. There is an enormous amount of peer pressure during the holiday season to go to parties, bring food, buy gifts for everyone. . .It’s okay to step off this spendthrift merry-go-round and simply say no. You don’t have to go to every party. You don’t have to buy a present for everyone you have contact with in your life.

Just say no.

The next four to six weeks can have a significant impact on the first few months of 2016.

Are you going to indulge occasionally in sweet treats but mostly eat healthy, or are you going to let loose and gain 10 pounds?

Are you going to be financially responsible and only give gifts that you have the means to give, or are you going to charge everything and create a hole that will take you three or four months to dig out of, if not more?

Haven’t you had enough of overindulgent holidays? Wouldn’t you like to start 2016 with a truly fresh start and no extra weight or bills?

Your Children Will Grow and So Will Your Income

September 21, 2015 By MelissaB 3 Comments

Is your budget tight? Have you slashed, and slashed, and slashed expenses but still find that there is no money left at the end of the month? Do you find that your kids are eating more and more while grocery prices are increasing? Do you despair at the news of rising egg costs? Do you find that your grocery dollars don’t buy as much as they used to even a year ago?

Me, too. I’m right there with you, but I’m here to tell you, don’t lose hope. Things will improve. Your children will grow, but so will your income.

You May Not Have Thought You Could Survive the Baby Years

After I had my third child, I was overwhelmed, to say the least. I was sleep deprived and exhausted trying to work from home to make money to pay down our debt, while helping my 7 year old with his homework and projects and caring for two kids under two.

Children will grow, so will your income — Original Image by Ray Dumas on Flickr

I thought I would never get a full night’s sleep again. I couldn’t imagine a day without endless diaper changes. I was in the thick of things.

But little by little, my kids gained independence. First, one potty trained and then the next. Hello diaper free days!

Then, one stopped using the stroller so I could move to a single stroller instead of a double one. Then both grew up enough to not need the stroller. Suddenly we could leave the house without a stroller or diaper bag. Hello sweet freedom!

Gaining a bit of my life back was a gradual thing. Each day now, my kids grow more and more independent and rely on me less for immediate needs.

Improving Your Finances Is a Gradual Process

I’m realizing, that even though my husband and I are in the thick of things financially, this time, too, shall pass. Right now between braces, increased appetites, extracurricular activities, etc., we’re spending a lot of money. Our budget is T-I-G-H-T. But, in 13 years or so, all of our kids will be out of the house and on their own.

Not only will our life be our own, but our money will, too. Just like I couldn’t imagine a full night’s sleep when my kids were little, I can’t imagine a month when our budget is not straining. But I know it’s coming.

Once the kids move out, there are so many ways expenses go down. You can move into a smaller house, if you’d like. A minivan won’t be necessary anymore; a sedan will do just fine. Two people eat much less than five, so groceries will be lower, too.

But it’s not just the increased expenses that will improve your bottom line. There are the financial increases. You and your spouse will continue to get raises. If one parent stays home with the kids now, that parent can go back to work. Having two incomes when you’re used to one can help you catch up financially, and quickly.

So, parents, don’t despair. Finances will get better, especially if you remain disciplined and don’t upsize your life as your income increases and your expenses decrease.

Are you a parent of older or grown children? If so, how have your finances changed over the years? Are you a parent of young children? Is your budget stretched, and stretched, and stretched? Share your experiences!

Are Extracurricular Activities Necessary for Young Children?

September 8, 2015 By MelissaB 1 Comment

Little Amber is performing in her first dance recital. She’s only three years old. She feels pretty in her sparkly costume, and she likes the way her mom has done her hair. But, she can’t remember many of the dance moves. She and her classmates spend most of their time on the stage looking to the wings where their dance teacher hides from the audience behind the curtain and performs the moves with the girls.

Amber’s parents pay for dance recital pictures as well as a DVD to capture the memories. In all, they spend about $200 on the recital, in addition to the regular lessons they pay for all year.

Plenty of parents have their young children in extracurricular activities and can relate to the experience and the price. As parents we’re told again and again how vital extracurricular activities are for our children, but is this myth true?

Do we need to have our children in expensive extracurricular activities?

Falling for the Myth

When my oldest child was 4, we enrolled him in a few extracurricular activities. This continued until he was 7 at which time we decided to get gazelle intense. Our two youngest children had no opportunity to be involved in expensive extracurricular activities because of our tight budget.

What have I noticed? While my oldest was a busy kid thanks to school, homework, and extracurriculars, my two youngest (now 5 and 6) have a lot more free time AND play time. Sure, they fight (often), but I also see how creative they are. Every day they’re coming up with new stories to act out and games to play. Contrary to the myth that kids need to be involved in extracurricular activities, I find that my younger two seem to be better off without all of the extracurricular activities.

Are Extracurricular Activities in Preschool Necessary?

We’ve also bought into the myth that kids need to start a sport or activity early—the earlier the better. If your daughter is going to have any chance of being successful in dance or gymnastics, she should start at 3 or 4.

But that’s not necessarily true.

“Misty Copeland, who has been promoted to top dancer at the prestigious American Ballet Theatre in New York. . .started ballet lessons at 13” (NPR).

Do You Have to Outsource?

You may think, rightly so, that some lessons like swim lessons shouldn’t wait until your children are older. I would agree with that. However, do you have to outsource the swim lessons? Just this summer, I looked into swim lessons for my kids. They were going to cost $200 for 5 days’ worth of lessons, 15 minutes per day per child. Yikes!

Instead, my husband started taking the kids to the pool one by one and teaching them how to swim. They love the one-on-one time with dad, and we love that we don’t have to pay $600 to teach three kids how to swim!

If you have your children in extracurricular activities, there’s nothing wrong with that. However, if you choose not to, or you can’t because you can’t currently afford extracurricular activities, know that there are plenty of other ways to teach your children things like swimming. Some of our best athletes, like Misty Copeland, don’t even begin their sport until their teens. Your children will be fine.

How important do you think extracurricular activities are to young children? Do you have your children enrolled in extracurricular activities, or do you choose not to?