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Summer pocket money: holiday money-making ideas

Written by admin on January 7, 2010 – 12:56 am - 125 views

The December 2009 issue of the Australian magazine “Money” has an article on how children can go about making pocket money over the long summer holidays:

http://money.ninemsn.com.au/article.aspx?id=986596


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Piggy Bank That Lets You Save and Spend

Written by admin on October 28, 2009 – 6:49 pm - 240 views

One reason that many children (and adults!) dislike saving money is because it feels like you are stopping yourself from spending it on things you like.

This amazing new piggy bank may have the answer:

Whenever you deposit a coin, it will randomly place it in one of two compartments – one for spending, and another for long-term saving. You can remove the contents of each compartment separately. That way, when the spending compartment fills up, you are forced to buy yourself a reward.

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Defeating Temptation: 10 Questions to Ask Yourself When You’re Tempted to Buy

Written by admin on March 18, 2009 – 7:24 pm - 136 views

The simplest way to save more money is to avoid buying things that you do not need. This is easier said than done – humans are creatures of emotion – the impulse to achieve gratification by getting something we want immdiately is very strong.

When we see a new mobile phone, MP3 player or other gadget on TV, you can’t help get excited by its novelty and appeal. It is a known fact that people who are hungry spend more money when they are out shopping compared to people who are full.

This article on Get Rich Slowly explains how to prevent yourself buying on impulse by asking yourself 10 objective questions to ensure that you are buying a product or service for the right reasons:

http://www.getrichslowly.org/blog/2009/03/16/defeating-temptation-10-questions-to-ask-yourself-when-youre-tempted-to-buy/

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8 Fundamental Money Lessons for Kids

Written by admin on January 22, 2009 – 7:47 pm - 245 views

Guest blogger Kathryn wrote a great article on the blog “Million Dollar Journey”  that outlines 8 fundamental money lessons for children.

I consider her points about not saying “we can’t afford that”, letting children make mistakes and understanding compound interest to be very important and often understated:

http://www.milliondollarjourney.com/8-fundamental-money-lessons-for-kids.htm

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5 Misconceptions Your Child Probably Has About Your Finances

Written by admin on January 21, 2009 – 1:48 pm - 148 views

When children are growing up, they learn a lot of their financial habits from observing their parents behaviour. For this reason, it is important for parents to be aware of the messages that they are sending to their children concerning money.

The blog “My Wife Quit Her Job” has a fantastic series of articles describing misconceptions that your child has about money:

http://mywifequitherjob.com/2008/11/01/5-misconceptions-your-child-probably-has-about-your-finances/

This blog has other interesting articles about kids and money here:

http://mywifequitherjob.com/teaching-kids-about-money/

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10 Businesses You Can Start For Peanuts

Written by admin on January 12, 2009 – 1:32 pm - 145 views

The Wisdom Journal has published a great article with a list of 10 businesses that can be started with no (or little) money up front, by a single person working in their spare time. Here is the link:

http://www.thewisdomjournal.com/Blog/10-businesses-you-can-start-for-peanuts-or-less/

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Fat Piggy Banks – 5 Ways to Make Yours Grow

Written by admin on January 8, 2009 – 8:06 pm - 157 views

With the economy as it is today, you may be like me and want to employ every means possible to enrich your financial picture. I’ve always assumed I could deal with whatever my financial future holds. Lately though, I’ve begun to feel the gentle rumblings of an impending financial earthquake. So I decided to examine my everyday spending habits and make changes where possible. A dollar saved here and there can add up before you know it.

1. See if you recognize this scenario. You’re at your local Souper W (shopping there to save money by the way) tired and feeling like you could eat everything in sight? Your stomach screams as you load up your buggy with all kinds of mouth-watering goodies. At the checkout, the cashier announces your total of $330.42! What? All you came in for was bread, milk and eggs! Sound familiar? That’s why it’s not a good idea to go to the store when you’re tired and hungry. If you’re not salivating over everything, you’ll spend less time in the store and in return, save money.

2. Every night empty your pockets. Take all your change and put it in anything that can serve as a piggy bank. I actually have two. One is a tall clear plastic bear that some animal crackers came in. That money goes toward paying my grandchildren’s insurance policies. The other is a very tall plastic glass that originally held a huge margarita. When it gets full, I may put it in my savings or use it for something special. The point is that, if the change was still in my pocket, I’d probably spend it the next day and have nothing to show for it. This is a painless way to fatten up the bank.

3. Check to see if your bank has a program that will round up purchases and place the extra in a savings account. For example, if you make a purchase for $5.40 on your debit card, your bank will deduct another 60 cents and add it to your savings account. So you’ll deduct from your checking balance $5.40 for your purchase, as well as the 60 cents that went to you, for a total of $6.00.

4. If you have money in a Certificate of Deposit or are considering one, ask your banker about CD laddering. Say you have $10,000 to put in a CD. Instead of putting it all in one, get several CDs maturing at different times. This will allow you to withdraw money if you have an urgent need for it before maturity without paying penalties on the whole $10,000. You may also be able to take advantage of a higher interest rate as the various CDs mature. I had never heard of that before until my banker explained it to me, and it made sense. Get your banker to tell you the details of it. I’m just relaying it to you as it was explained to me.

5. If you’re self-employed and need business cards, go online and do a search for free business cards. There is a site where you can get 250 business cards for free. You do have to pay shipping, but it’s minimal. I ordered some for myself the other day. Of course, I added a few extras, but that was totally optional. I also took advantage of some other specials and ordered sticky notes, a rubber stamp, and holiday cards, all for free with a minimal shipping charge.

So remember. Don’t go to the grocery store hungry, empty the change from your pockets each night, check with your banker on programs that can help you, and save high printing costs by checking out free sites on the internet. These are really simple things to do, but they can make your piggy bank get fatter before you know it.

Cathy B. Matthews

Oh, by the way, for immediate information on how to save more money, click http://cutthepork.blogspot.com/

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How to Make Money As A Teen

Written by admin on December 29, 2008 – 9:56 pm - 163 views

Whilst browsing Instructables.com recently, I found this great post on various ways a teenager can make money:


How To Make Money – As a TeenMore DIY How To Projects

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Teaching Children Financial Literacy using Piggy Banks

Written by admin on September 15, 2008 – 10:45 pm - 482 views

We live in a consumer-centric society. Wherever we look, we see an endless supply of gizmos, trinkets and nick nacks that we are repetitively told that we cannot live without.

Furthermore, banks and financial institutions are only to happy to give out magical plastic cards that allow us to run out and buy these things on impulse, and worry about paying for them in the future. Indeed, it has been reported that the average American family has $8000 in credit card debt.

More and more people agonise over how to teach today’s children the good old-time habits of earning and regularly putting aside money for the future. A piggy bank can serve as a great teaching tool.

  • First impressions matter – piggy banks have a cute and friendly appearance that appeals to children more than a sterile-looking money box.
  • They teach goal setting –  a child may choose to work buying something expensive like a bicycle or games console that would require saving for a prolonged period.
  • They teach self-discipline – instead of squandering an allowance on cheap indulgences like candy bars, they can put away all or a portion of the money knowing that they able to get something far more substantial in the future.
  • They teach patience – as the piggy bank fills up, the child can feel it getting heavier and they can shake it around to hear the clanging of the coins.
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A Brief History of Piggy Banks

Written by admin on July 31, 2008 – 3:57 am - 822 views

There are many stories about how piggy banks were invented.

Money boxes have existed as long as money has. People would keep gold or silver coins in vessels including jars, pots or kettles made of clay or metal.

In England, there existed a type of clay known as ‘pygg’, which was pronounced like the word ‘pug’ in modern-day English. Following the ‘Great Vowel Shift’, English pronunciation changed and the word came to sound exactly like the animal we call a pig.

Anyhow, the story goes that an English glazier was asked to make “pygg Jars”, but misunderstood the request and instead, created jars that were shaped like pigs. The customer liked the final product. News spread and the pig-shaped jars were widely imitated.

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