As August draws to a close, many children are cringing at the thought of returning to school. Many parents cringe right along with them at the pressing need for new shoes, school clothes, and all those school supplies. But going back to school doesn’t have to break the bank. With a little thought and planning, you can save money every year on back to school supplies. Here’s how.
Save Money on Back to School Supplies
1. Plan ahead. At the end of every school year, I pack up a bag for each child containing items from that year that can be reused. Intact crayons go in a metal pencil case, scissors that are still intact are kept, and all mechanical pencils with their pieces and parts intact are replaced with fresh lead and stored for next year. This gives my kids a starter pack for the next August.
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One of the reasons that many prefer to use credit cards is due to the fact that they can be taken almost anywhere in the world. Plus, there are a number of fraud protections that come with credit cards. From earning rewards, to peace of mind, credit cards can offer a great way to pay when you go abroad.
That, however, might be changing with regard to Europe. In order to boost the security of cards, the introduction of chip cards has begun. This means that Americans, with their less secure cards, are having a bit of trouble at some locations.
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Another August, another load of money dropped at Target.
You know the routine: August arrives along with the sweltering heat, and it’s time to load the kids (and in some cases their class rooms, too), or dorm rooms with supplies. As always, you end up spending far more than you need (or want) to.
Teachers sometimes send home their lists for the next school year before the end of the previous one. Other times, they post their lists online. And if you have college age kids, you’re dreaming of the days when you only needed to buy glue sticks and pencils.
Then there’s also school clothes or uniforms to consider. Multiple all this by a few children and the receipts get longer and never seem to stop.
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I’m a clean freak. I admit it. When stressed, I clean. It’s a win-win situation. However, I’m also very conscious about what I spend on cleaning supplies, so when a DIY cleaning project pops up, I give it a try. Like housework, cleaning supplies are temporary, with most materials ending up washing down the drain so it only makes sense to save money whenever possible on cleaning supplies. Here are a few of my favorite DIY cleaning projects for frugal families.
DIY Cleaning Projects to Save You Money
1. Get rid of water spots. We have well water, full of iron. I can spend hours scouring bathroom fixtures to have them yellowed by the next day. To help combat water spots and mineral deposits, I wipe the bathroom fixtures down with WD-40, then polish the faucets and shower doors with wax paper to help repel water longer.
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It’s that time again. The 2012 Presidential election is fast approaching and who America chooses will affect your personal finances. Barack Obama and Mitt Romney differ on a number of different issues that will affect your financial future, so your finances may be vastly different a few years from now depending on who gets elected. Will you vote based on which candidate will give your finances the biggest direct boost, even if you don’t feel that their economic policies are good for the country long term?
Yes, I’m Talking About Taxes
Taxes are a hot topic for the election this year. The debate is fierce on the United States’ need to increase income taxes, decrease spending or use a combination of both to reduce our national debt. Obama sides more with increasing taxes on higher income individuals coupled with more spending to spur growth, while Romney wants to decrease taxes and spending to accomplish the same goals.
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One of the financial products gaining a little more popularity in recent years is the Health Savings Account (HSA). This type of account allows you to save up for health care expenses via favorable tax treatment.
In order to qualify for the HSA, you need to participate in a high deductible health plan (HDHP). This means that you pay more out of pocket for your health care, since the insurance doesn’t kick in until later. However, it also means lower insurance premiums — up to half off in some cases.
The great benefit of a HSA is that contributions to the account is tax-deductible at the federal levels (state rules vary), and withdrawals are also tax-free as long as you use it for medical costs.
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