Debt and Insolvency Advice

Money Advice Budgeting
Who can I go to for good advice on budgeting money?

I am not in debt but my money is gone every month. How can I find out where all my money is going? I need help.

Write down everything you and categorize it. You’ll soon find out where your money goes.

How to teach your child learn to save money?

How to teach your child learn to save money?The ability to handle personal finances by saving money and budgeting is a skill beneficial to most everyone. When children learn at an early age to save and spend money wisely, they are likely to do the same as adults.Here are ideas to help teach kids the skills of saving and budgeting money.http://www.ixgw.com/ Best Financial Advice – Financial Planning | IXGW.com
Give Young Children an Allowance
An easy way to begin teaching money saving skills to young children is to give them an allowance. You might want to base this on completion of some easy household chores. For young children, choose as small amount of money that they receive often, such as weekly.

Set Up Money Saving Containers
To help young children learn to save money, provide them with several savings containers, labeled with their savings goals. Small plastic jars work well. Try giving your kids their allowance in small denomination coins such as nickels and dimes, or even pennies, to make division between the savings jars easier.

Explain the Concept of Saving Money to Kids
Once your young child’s allowance is established, explain the concept of dividing up her or his money, allowing it to accumulate for savings goals. It works well to physically show children how this works with a handful of change and the labeled jars.

Help Young Children Choose Savings Categories
Once young kids understand how saving money works and how they can benefit, they are often eager to get started. Help your children choose a couple items or activities as savings goals, that aren’t too different.

You might also want to establish a mandatory category with a set amount of savings. For example, gifts for brothers or sisters, Sunday school offerings etc. Even a small percentage, maybe a nickel or dime out of each dollar of allowance can go a long ways in teaching values such as generosity and discipline.

Encourage Kids Money Saving Efforts
As young children are learning how to save and budget money, positive feedback for their successes is important. Stay involved with your child’s money saving efforts, even if you think the items or activity being saved for is trivial or worthless.

Reward Young Children’s Money Saving Efforts
Create money saving games to share with young kids to make the activity more fun for them. For instance, you might have one day a week in which you reward them with surprise small amounts of money for extra help they do on their own around the house. Or a money matching game in which you match their accumulated savings towards a more expensive goal.

Allow Young Kids to Blow Some of Their Allowances
Most of us like to spend some money impulsively at times. Young savers are likely to enjoy saving money more if they also spend some on unplanned activities and items. Allowing your kids the fun of blowing their allowances sometimes will help encourage them to save as well

http://www.ixgw.com/2010/06/how-to-teach-your-child-learn-to-save-money/

About the Author

Best Financial Advice – Financial Planning | IXGW.com to help you improve your personal finances, get out of debt, invest, make money, save money, plan for retirement, and give you financial help and advice.http://www.ixgw.com

If there’s one thing that a recession does for everyone… it increases our awareness! Not only are we forced to re-examine our spending habits, but in the process our beliefs, values, needs, wants and dreams are also challenged.

The benefit of an economic recession is that it gives us the opportunity to re-set… and many of the changes that we are making to save money can also benefit our quality of life. Five money saving strategies that also come with huge benefits are:

• Quit smoking -you can save over $1,400 a year – and it could save your life not to mention reducing the affects of second hand smoke for your loved ones.
• Park the car and walk - you can save hundreds in gas costs and car repairs not to mention the health benefits for you and mother earth.
• Buy Local - Purchasing local products not only benefits your health by eating fresh food vs. processed, it supports the local farmers and businesses and reduces the costs associated with transporting goods from afar.
• Buy used versus new - You can shop for gently used items locally at garage sales and flea markets as well as on line – reduce, reuse and recycle!
• Buy a home water filter and bottle your own water – save tons of money and the plastic bottles won’t end up in the land fill for generations to come.

Most often money saving advice comes in the form of reducing family spending by cutting expenses. What about the other side of the equation – the income side. We spend so much time coming up with innovative ways to save money - what about innovative ways to earn money? Does the old formula that consists of working for a company for most of your life and then retiring on a pension and social security work anymore? No. That was then, this is now.

Today, mainly due to the Internet, there are many creative ways to make money that allow us to work smarter not harder… leaving precious time for those values that we have re-examined, like family and the pursuit of our dreams. The outcome of combining creative money saving techniques with innovative income earning strategies is a win-win!

Christina Gilman has spent over 15 years as a financial and estate planner. She currently owns and runs a construction company, a real estate company and is a professional online marketer. She loves to write and to give people hope through knowledge and inspiration. To find out more about Christina, click here.

You can also learn about innovative ways to work smarter not harder here.