Money Saving Ideas: Preparing for the Rainy Days

Do you sometimes find yourself in a financial predicament that usually ends up with to debts? Do you live extravagantly well outside your means? Learn from an expert financial advisor in Dallas with these tips on saving money, saving your pride, and saving your hide from loan sharks.

1. Save a portion of your income or allowance. If you are receiving a regular allowance or already earning income, split ten or twenty percent of it depending on how much you can afford to spare. Tuck away the saved portion in a money box, or deposit it in a savings bank. Keep a firm resolve not to be tempted to spend the money you have stashed away.
2. Buy only what you need. You may declare that the charming turtleneck at Marks and Spencer would look better on you than on that pale mannequin by the window, but if you do not need it, you might as well leave it that way. Usually, money deficit stems from impulsive and irresponsible budget allocation. As repetitive as it may sound, use your money wisely!
3. Personalize gift ideas. It does not matter whether you enjoy them or not, birthdays and special occasions occur month after month after month. And your sweet little heart just cannot resist the urge to make your celebrator friend a happier person by buying her a gift. Instead of giving something straight from the shop, why not offer something straight from the heart? This is also the time to become creative and resourceful.
4. Skip pricey leisure activities. You do not really need that overall body massage now, do you? Not when a warm, soothing bath at home would still do. It is not that you should give up leisure entirely. Simply substitute expensive activities with least expensive ones.
5. Keep track of your expenses. It is best to keep a logbook of your expenses at home and outside in a weekly or daily basis. This routine will help you analyze patterns of your expenditures and make you more proficient at budgeting your future finances. This way, you can clearly see how you are spending your money.

Ultimately, the most focal part that would put all the above tips to work is resolution. Be determined about saving money. You will find that the sacred principle to money saving is fairly simple: minimize spending. For more essential money tips from a financial advisor in Dallas, visit http://www.crisfinancial.com/Financial-Advisor-Dallas.9.htm.

Money Saving Tips for Children

It is best to teach your child how to save money while he is still young, so that as he grows old, he would learn the responsibility of proper budgeting and money spending. Here are a few tips on how to teach your child wise money spending from Houston financial advisors.

1. A regular allowance – no matter how small – helps give a child a sense of independence and responsibility. He will learn how money can be used to buy things he needs or wants.
2. Unless your child has a chance to spend his money himself, in any way he wants, he will not have the real learning experience, so do not tell him how to spend his money or to scold him when you find out he has spent it foolishly.
3. Do not give your more money when he runs short of it, so that he will learn to limit his expenditures. If he needs to have money badly, give him some but consider it an advance to be deducted from his next allowance.
4. Your child’s allowance should be enough to cover all his needs, plus a little extra for emergency use or savings. Until he learns how to make it last until his next allowance, it is better to give the money on a daily basis.
5. Do not use money emotionally; that is, giving money as a reward for good behavior or withdrawing or reducing his allowance as punishment for misconduct. An allowance is given because it is needed, not according to parental whims.
6. When your child complains that his classmates or friends have bigger allowances or more money to spend than him, the best explanation you can give is perhaps because his friends’ parents are richer or more indulgent.
7. Encourage your child to earn. The money a child earns on his own is money he values most. Pay him for doing tasks or jobs that you pay outsiders to do, especially when these jobs require extra effort or interfere with his normal activities.
8. Get your child to share in money decisions. When something expensive is to be bought, consult him, discussing with him the pros and cons of such a purchase. When a money problem arises in the family, let him offer suggestions for solving it.
9. No child is too young to be told by his parents why they cannot give him the money he asks for or why they cannot or should not buy the expensive toy he wants just because one of his playmates has one and is showing it off.
10. Finally, the most important factor in the training of a child in the management of money is the example you set. This should help develop their attitude towards money shown in various ways in their daily life.

These are some ways on how to teach your child how to save money. For more money saving tips and advice, consult Houston financial advisors from http://www.crisfinancial.com/Our-Firm.2.htm.

Teaching Children to Save Money

It is important to teach children different values while they are still young. One of the values that parents can and should impart to their children at an early age is the value of saving money.

With the proliferation of a variety of goods which are available to the multitude of stores and malls, it is very difficult – even for grown-ups – to stop oneself from spending the money in his or her pocket. Learning to save money is important, because one does not know what the future holds. A person who spends money like there is no tomorrow may end up needing money in the future, and find out that he or she has nothing to spend at all.

Here are some ways in order to encourage one’s child to save money as suggested by a financial advisor in Houston.

1. Give the child a piggy bank. This will encourage your child to put away loose change which he or she might otherwise spend on candy or junk food. The parent can also drop some coins inside the piggy bank to encourage the child. The heavier that the piggy bank gets, the more exciting saving becomes.
2. Open a bank account for your child. If your child has saved enough money to open a bank account, take him or her to the bank and open an account. A trip to the bank and meeting the bank personnel will be a very interesting and rewarding experience for a kid. Seeing one’s name printed on the passbook will also serve as a motivation to save more money.
3. Saving money should not be an end on itself. There should be a bigger goal for the child in order to sustain the habit. For instance, he can use the money that he saved to pay for the bike that he had been drooling over at the store. Or the money could be used to start his educational fund.
4. Lastly, the parents should set a good example. Aside from helping the child save by dropping your own loose change inside their piggy bank, the parents should set a good example. A child will be discouraged to save if he or she sees his or her parents spending on unimportant things. One should also avoid impulse buying because it reflects one’s propensity to put very little value on saving.

Financial awareness is very important, so it’s better to expose children to it as young as they are. For more financial tips and advice from an expert financial advisor in Houston, visit http://www.crisfinancial.com/Financial-Advisor-Houston.10.htm.

Money Matters

Who does not love to have money? It would be a pleasure to wake up in the morning and not think of how to get your hands on enough money for the future. Here are some simple solutions on how you can save up and spend wisely as suggested by a financial planner Houston company.

 

Phot credit to: http://www.insidehousing.co.uk/money-matters/6517798.article

1. The first step is to change how you look at money. Do not think of it as an inanimate object. Your money generates. Each dollar generates money even if it merely sits in the bank. It has been suggested that each dollar is actually an employee who works for you and the goal is that each employee will recruit more employees to work for you. Your goal is to buy enough assets which can generate money without you doling out labor.
2. Do not look down upon small amounts and investments. Even if you start small, but save up consistently, you will be surprised at the amount you have by the end of the 2 years or so.
3. The way to save up money is to cut down on frills and excesses. Do not think of short term pleasures but long term gains. For example, if you are still paying for a car or are planning to buy your own place, create a system where you do not have to spend much. If you have to meet your friends, suggest dessert or coffee, instead of a full course meal. This way, you do not have to spend as much.
4. Buying stock is a good investment. Also invest in things which appreciate in value such as land and jewelry. Research on businesses which will generate more funds. The food business is lucrative, if you know which food people prefer. Do not jump in, because somebody merely suggested that there can be no losses in certain businesses. Always be armed with facts and statistics. Once you have invested, give your money time to mature to gauge the success of such investment.
5. Do not be conned into getting credit cards. They are not status symbols but are a circuitous way of divesting you of money. As much as possible, pay for the things you want to purchase in cash to avoid having debts.

A lifestyle change can help you save money for the future. For more financial advice, consult with a financial planner Houston company, such as CRIS Financial. Visit its website at http://www.crisfinancial.com/Financial-Advisor-Houston.10.htm.