Money Tips

Welcome to Wise Bread’s Best Money Tips Roundup! Today we found some awesome articles on steps to cheaper food, dealing with debt collectors, and homeschooling on a budget.

Top 5 Articles

36 easy steps to cheaper food! — To save money on food, warm your stale bread in the oven to make it taste fresh again. [Think Money]

6 Tips For Dealing With Debt Collectors — When talking to debt collectors, be sure you know your rights. [SavvySugar]

7 Ways to Homeschool on a Budget — Homeschool your child without breaking the bank by utilizing the library and buying resources used. [Christian PF]

3 Essential Tips To Help You Choose The Best Credt Card Processor — If you are choosing a credit card processor, remember that everything is negotiable. [Girls Just Wanna Have Funds]

The Ten Habits of Passionate People — Passionate people take the time to workout and keep a gratitude journal. [PickTheBrain]

Other Essential Reading

Life After College: Four Rules for the Real World — After college, remember that even when life gets tough, it still goes on. [LearnVest]

Save Money On Interntional Calls While Traveling — Save money on international calls when traveling by replacing your SIM card. [Cash The Checks]

Insurance You Need and Don’t Need — Chances are you don’t need pet insurance or fight insurance. [Free Money Finance]

What is Attachment Parenting? — One of the principles of attachment parenting is to feed with loe and respect. [Parenting Squad]

How to Make Your Dreams a Reality — Make your dreams a reality by making a vision board. [Stepcase Lifehack]

News & Events

Money Crashers Tweetchat (#MCchat) — Don’t miss Money Crashers weekly #MCchat at 1pm PST! They will be giving away prizes!

Be sure to check out our News & Events Calendar to see all the awesome upcoming events in the personal finance world!ShareThis

Welcome to Wise Bread’s Best Money Tips Roundup! Today we found some great articles on money saving workout routines, saving on your electric bill, and money tips for new grads.

Top 5 Articles

Money Saving Workout Routines for a Fit Recession-ista — Instead of hiring a personal trainer to keep you motivated to stay fit, enlist the help of one of your friends. [One Smart Dollar]

14 Ways to Save on Your Electric Bill — To save money on your electric bill, put lamps in the corner of a room so they have more surfaces to reflect off of. [Budgets Are Sexy]

Money Tips for New Grads — If you are a new grad, be sure to build a financial plan and find the career that is right for you. [Narrow Bridge]

5 Things You Should Do Before June — Before June rolls around, assess your living situation. [SavvySugar]

Favorite Summer Fare for Less — Eat your favorite summer foods for less by stocking up early and growing your own herbs. [MintLife Blog]

Other Essential Reading

11 Free Travel Apps to Save Money — To save money on travel expenses, consider downloading the Happy Hour or Kayak app. [My Dollar Plan]

Debit Card Fees to Watch Out For — Make sure you study your bank statements for hidden debit card fees. [The Frugal Toad]

How to Avoid Investment Scams — Avoid investment scams by steering clear or promises of high gains with low risks. [Free From Broke]

The Importance of Family Meetings — When holding a family meeting, make sure to have an agenda of what is to be discussed. [20 and Engaged]

5 Reasons to Send Your Kid Packing — By sending your kid traveling, you help them develop independence. [Parenting Squad]

News & Events

Wise Bread Tweetchat (#WBChat) — Don’t miss our weekly #WBChat at 12pm PST! We will be giving away prizes!

Be sure to check out our News & Events Calendar to see all the awesome upcoming events in the personal finance world!ShareThis

Welcome to Wise Bread’s Best Money Tips Roundup! Today we found some fantastic articles on making groceries last longer, ways to make extra money this summer, and saving on entertainment.

Top 5 Articles

12 Tips To Make Groceries Last Longer And Save Cash — Extend the life of your fruits and veggies by not cutting them until you need them. [SavvySugar]

Six ways to make extra money this summer! — Make extra money this summer by pet sitting and house sitting. [Step Away From The Mall]

19 Tips to Save on Entertainment — To save money on entertainment, swap babysitting gigs with another couple who has kids so you don’t spend money on on a sitter. [MainStreet]

Do’s and Don’ts with your Credit Card — Don’t use your credit card to purchase items you can’t afford. [Thousandaire]

10 Steps to Writing a Great Resume — When writing your resume, send it to several people to edit it. [Free Money Finance]

Other Essential Reading

How to Focus When You’re Juggling Lots of Different Tasks — When juggling many tasks, set priorities and try not to multi-task. [Dumb Little Man]

Top 10 Ways to Make Money Online — Make money online by using sites like Fiverr and other micro freelancing sites. [BlogStash.com]

How to Help a Friend with Financial Problems — If you have a friend who is having financial problems, don’t give them money or co-sign on a loan. [Quizzle.com Blog]

A More Organized Life Is at Your Fingertips — Use Google Calendar and RemembertheMilk to help you manage your tasks. [Parenting Squad]

Three Little Habits to Find Focus — To find focus, set time limits for yourself when it comes to tasks. [Zen Inspiration]ShareThis

What if you find yourself in the position of needing to raise money for something at your workplace? It happens. Sometimes, it is as innocuous as needing a “birthday fund.” In other circumstances, a coworker might have a medical emergency. Through my many years in various workplaces, I have participated in a number of office fundraisers. At one time or another, I have used one of these six methods below with good results.

Personally, I do not like fundraisers that involve discount cards, auctioning off bachelors or “slaves,” blatantly asking wealthy people for help, holding up fishing nets, or scrip. (My issue with scrip, while it does assist with record-keeping, is that unless I find things I definitely want to buy, I am just making a donation.)

My caveat — before you embark on any worksite fundraising, do your homework. Make sure you do not run afoul of any state or local laws, or company policies or procedures. When in doubt, check. Also important — never, ever pressure or coerce anyone into donating money. That annoys people, and an unhappy person will be the first one to complain. Make any fundraising strictly voluntary. (See also: The Best Frugal Office Party Foods)

1. Bake Sale

At work. The reason I emphasize “at work” is that (a) nobody wants to do it on a weekend, and (b) you’ll get much better participation and attendance. A well-publicized, amply stocked bake sale can bring quick cash. Of course, a good part of the donation occurs when people volunteer to bake goods for the sale. Besides many commitments from volunteer bakers, you’ll need tables, plastic bags, saran wrap, plates, tablecloths, markers, food-handling gloves, signs, a cash box, and change.

Encourage your bakers to package items nicely. Don’t try to sell whole pies or cakes — pieces sell faster, with a higher mark-up. I like to group items by tables and sell for $1, $2, $3, etc. If you have the supplies, placing individual stickers on items helps, too. This is not a time to dicker — if you do a bake sale right, you can be done with it in an hour. Give your helpers fanny packs stocked with change, so you don’t have a line at the cash box. It’ll go much faster.

Encourage your bakers to not only bake cookies, but also to think about making healthy items. Packages of nuts, energy bars, and even homemade hummus go rapidly. More popular still are bowls of chili or nachos, if you can get permission to plug in crock-pots. I recommend that you hold a bake sale between 9 and 10 a.m. in an office or facility, when people are starting to think about coffee and a snack. They can patronize you instead of the neighborhood coffee shop.

Difficulty: Medium

2. The Good Old Car Wash

Honestly, this is not my favorite fundraiser — it’s really hard work, assuming you do it right, and you need to devote a half-day to it. However, they really do work, particularly if you can hold them at a grocery store — people are more willing to contribute because they can simultaneously shop. Supplies needed: hoses, buckets, car-washing soap (don’t use dishwashing soap, which can harm a car’s finish), and soft rags or sponges. Advertise, post signs, and send people out to hold up signs. I personally prefer “$5/car” over “donation,” because a set price eliminates the dickering process.

Difficulty: Difficult, because of the logistics — and you need a lot of helpers and elbow grease

3. Bingo

That’s right, BINGO! Just today I called bingo for an hour and a half. Set up during a lunchtime break, pass out cards and markers, and call out those letters and numbers. If permitted, charge per card and offer inexpensive prizes. Needed: a bingo set, microphone, and prizes. Savvy bingo-goers will work several cards at a time. A game of bingo runs about five minutes, so plan prizes accordingly. When you get down to the last few minutes, run a “blackout” game.

Difficulty: Very easy, particularly when you have a captive lunchtime audience

4. Raffles

AKA “drawings.” This one is trickier legally. Be sure to check what is allowed in your state and at your workplace. Sometimes the terminology matters.

What to raffle? Homemade items go well, such as fudge, cookies, or a dinner. Needed: advertising and prizes.

Difficulty: Easy

5. Silent Auctions

If you have a real go-getter committee that can secure great donations, these can be a lot of fun. The trick is to obtain items that people actually want — fine wines, gourmet chocolates, dinner at a trendy restaurant, quality art, interesting pottery, etc. It’s embarrassing if the donated item just sits on the table at a minimum bid. Needed: donated items, papers on which to write bids, and a nice tablecloth. These usually take place at some sort of event.

Difficulty: Medium, for the legwork it takes to secure good donations

6. The Office “Pool” 

You have probably seen these for sports events and baby “due date” guesses. Again, make sure there are no prohibitions and that the terms of the pool extremely clear, so there are no arguments about who won. Supplies needed: a big chart.

Difficulty: Easy

Have you done any fundraising? Do you have tips for Wise Bread readers?ShareThis

Welcome to Wise Bread’s Best Money Tips Roundup! Today we found some awesome articles on how to vacation without breaking the bank, 50 ways to make money, and tips to help you save more.

Top 5 Articles

How to Vacation without Breaking the Bank — Vacation without breaking the bank by using the right credit card or going on a roadtrip. [Not Made Of Money]

50 Ways To Make Money: Maximizing, Creating, And Increasing Your Income — Want to make money? Consider being a virtual assistant or writing an ebook. [Bible Money Matters]

5 Tips to Help You Save More and Get Rich Quicker — To save more money, shop for new insurance frequently. [Moolanomy]

How To Monitor Your Credit For Free — Monitor your credit for free by getting a free report from your lender. [The Digerati Life]

101 Timless Lessons Life Teaches — Remember that there is a difference between giving up and knowing when you’ve had enough. [Marc and Angel Hack Life]

Other Essential Reading

4 Transactions You Should Complete with a Credit Card — When paying for recurring charges, be sure to use your credit card. [Financial Highway]

5 Tips for Hiring a General Contractor — When hiring a general contractor, get estimates in writing. [Cash Money Life]

Money Leaks Are Costing You Hundreds Every Year (This is How to Plug Them) — Make sure your bathroom isn’t costing you extra money by cutting down on the amount of toiletries and cosmetics you use. [Money Ning]

5 Awesome Uses For Butter — Use butter to prevent cheese mold and swallow pills. [SavvySugar]

Go With the Flow: 3 Ways to Celebrate Your Daughter’s First Period — Celebrate your daughter’s first period by getting her a diva cup. [Parenting Squad]ShareThis

As a mom, I want to teach my kids everything they need to know about money and life, preferably before they leave my home (the oldest will be going to college in the fall, and time is running out). As a writer for Wise Bread, I see how I fall short compared to many readers who, based on their comments, have parents who taught them to flawlessly distinguish needs from wants or have ingrained the full value of a dollar in their children by requiring hard work inside and outside of the house on a daily basis. 

Fortunately, kids and teens can learn from imperfect parents. Plus, they can teach their moms and dads financial lessons the grown-ups had never considered or remind them of timeless financial truths. Here are some things that teens have to say about spending, making, and saving money. (See also: 10 Tips From a Financially Savvy Teen)

Being Fashionable Means Having Your Own Style

High school student Syretha Shirley of Las Vegas tells me that relying on designer labels and name brands to define your style puts you on the path to being a conformist, which is counterproductive to being truly fashionable. In some cases, insecurity can influence people to copy the cookie-cutter style statements offered by leading brands. Don’t count on your shoes (no matter how expensive) to boost your self-image, she says. Have the confidence to express your style through distinct choices.  

How to Develop Your Own Style

Define your signature style, set a budget, and shop at discount stores like Marshalls or thrift shops. Pull together disparate items to create your own look. To have fun and build a stylish wardrobe, take shopping trips with a friend and work together to uncover fashionable finds.

If you don’t have the time or taste to develop a distinct stand-out style, adopt a simple, tasteful one or a classic look that’s easy to create and maintain.

Making Money Can Build Your Savings and Your Self-Esteem

Jack James of San Jose, California, a 13-year-old and book author, tells me that he was surprised to find that running his own business boosted his self-esteem, which was damaged by bullying at school. During the two years that he was homeschooled to get back on track academically (Jack has dyslexia) and become stronger in his sense of self, his mom suggested that he start a business. He resisted at first, but her nagging convinced him to consider how he could earn money.

A few years ago, he began bringing in garbage, recycling, and yard waste carts in a business that continues today. Many of his neighbors are his customers, giving him the opportunity to develop friendships while also providing a service. He deposits his earnings in a savings account, which has grown to a healthy $1,000.

The side benefit from the business is the self confidence that Jack gained from generating income. Unlike bullying peers (and the adults who witness but don’t advocate for those who are being bullied), the money doesn’t unfairly judge or condemn but has the capacity to reward effort independent of learning abilities and disabilities.

How to Earn Some Money

Both teens and adults can do lots of things to earn money through money-making hobbies and side jobs, such as playing an instrument or tutoring.

Teens can make a side income doing traditional teenage jobs (like babysitting or cutting grass) and helping adults that are willing to pay them for services (like painting or moving stuff).

At any age, finding a way to make money that makes use of your natural talents is ideal not only for earning income but also to prepare you for a career or help you in your present job. My youngest son began selling his old stuff online a few years ago and learned how to present merchandise, respond to inquiries, price goods, and fill orders. He is interested in a career in technology and having some of these experiences gives him firsthand knowledge of user interfaces, financial systems (he has his own PayPal account), and more.

Don’t Worry, Just Save

Money problems are a source of worry, stress, and suffering. Syretha has watched as family members overspent on their wants, became unable to take care of their needs, and, in some cases, made mistakes in attempting to get money quickly with life-changing consequences.

How to Avoid Worry Over Money

Realize that you really will need money later, despite how distant those needs seem now. Save to avoid extreme stress and financial crises, which can lead to poor decision making and cause problems that affect long-term career possibilities, personal freedoms, family relationships, and more.

Match your lifestyle to your financial wherewithal, and make sure to set aside money for future needs. Don’t put purchases for day-to-day needs on your credit card. Use your credit card for true emergencies, not fashion wants or other types of non-essentials.

Put Yourself First

Place your values and goals above social opinion instead of trying to please or impress other people. Trying to be popular can often sidetrack your efforts so that you are unable to spend time investing in yourself and achieving your goals.

Investing in herself is a priority for Syretha. Much of her time is spent improving herself, her financial position, and her community. Currently, in addition to high school and side jobs (babysitting and braiding hair), she is being mentored, writing a book of poetry, participating in a teen empowerment group focusing on personal development and community service for young women, and attending a Boys & Girls Club where she took a Money Matters course on financial literacy.

When Boys & Girls Clubs of America partnered with the Charles Schwab Foundation to sponsor the Money Matters Music Mogul contest, both her mentor and mom encouraged her to enter. She wrote an original song that won first place and was made into a music video by hip-hop producer Kevin “Khao” Cates. 

Watch video

Putting yourself first doesn’t mean not caring about others but having the freedom to focus on what is important to you. For example, one of the reasons that Syretha is so happy to win the contest is the opportunity to spread the word about being money smart to other teens. 

How to Put Yourself First

Use money and time in ways that are fulfilling in the present and helpful for the future. What specific actions you take may differ from your friends but might include:

1. Earning a college degree
2. Learning something new or bettering current skills
3. Writing a book or authoring a blog

These are all ways to use your talents and money for long-term benefit, rather using money to satisfy immediate and short-lived desires.

Don’t Confuse Stuff and Status With What’s Important

Recently, my oldest son taught me a lesson about money and values. Like many parents, I have always thought that teaching kids to be unmaterialistic is best accomplished by sending them on service projects or mission trips in which they serve impoverished families. The reasoning is that teens will realize how rich they are in comparison to less fortunate others. Then they will be grateful and frugal. For example, my teenage sons have spent at least one week performing home repairs for near-penniless people referred by the Department of Social Services. 

But seeing the poor live with little doesn’t necessarily translate into feeling rich with less stuff.

My epiphany came during spring break, after my oldest returned from a community-wide, church-sponsored event called the 30-hour famine. He seemed elated, having enjoyed hanging out with friends, meeting new people, and teaming with a few other kids to win the organizer’s version of the “Amazing Race.” Listening to his experiences made me realize that being happy with less is not the goal of financial wisdom (though this ability is helpful); instead, it’s valuing what’s really important, like friendships, community camaraderie, and yourself, independent of the stuff you’ve accumulated and the status that stuff may confer.

How to Know What’s Important

Spend time on the activities you enjoy, the things that will make you a better person, and the people you like to be around. Use your priorities to motivate you to do more with fewer resources, not to be stingy but to express your style like Syretha says.ShareThis

Welcome to Wise Bread’s Best Money Tips Roundup! Today we found some great articles on slashing prom costs, trimming your entertainment budget, and cheap foods that may build a better brain.

Top 5 Articles

31 ways to slash prom costs — Save money on prom this year by skipping the limo and borrowing a car instead. [MSN Money]

10 Easy Ways to Trim Your Entertainment Budget — To trim your entertainment budget, consider buying an entertainment book or skipping cocktails when you go out. [Money Crashers]

4 Cheap Foods That May Build a Better Brain — Berries are cheap and may help you build a better brain. [Money Talks News]

Ten Commandments for Home Buyers — If you are buying a home, make sure you know your credit standing. [Credit Sesame]

How to Make Costly Weekend Activities More Affordable — Save money on going to the movie theater by opting to see a movie in the park instead. [Bargaineering]

Other Essential Reading

5 Recurring Expenses to Reduce in Retirement — When you retire, make sure you reduce your transportation expenses. [U.S. News & World Report]

6 Most Promising Careers For New Grads — With a projected growth rate of 20%-28%, the career of a financial analyst has great promise for new grads. [SavvySugar]

10 Best Values in Used Cars, 2012 — The 2009 Chevrolet Malibu 1LT is one of the best values in used cars for 2012. [Kiplinger]

How to Stay Sun Safe — To stay safe in the sun, wear protective clothing. [Parenting Squad]

The Butterfly Effect — Saving money or changing your spending habits can have a far-reaching impact on your finances. [Free Money Finance]

News & Events

Carnival of Personal Finance #361: Hosted by One Cent At A Time — Don’t miss the Carnival of Personal Finance, featuring the week’s most interesting and informative blogger-written articles about personal finance.

Be sure to check out our News & Events Calendar to see all the awesome upcoming events in the personal finance world!ShareThis