We had such a great time at our meeting about money management, and I promised to send you notes from the meeting, in case there was something you wish you had jotted down.
Reasons to manage your money (presented by Sarah Taylor)
- stretch your money
- save for something special
- save for retirement
- remove stress
- save more without earning more
- be aware of where the money is going without wondering what's going on
- deal with the ups and downs of life
- be prepared for emergencies
- pay off your debts
- deal with a changing economy (like rising prices of food and gas)
- know where you stand financially
- be proactive rather than reactive
- The Lord blesses us as we obey His laws and commandments, often in unexpected and unexplainable ways.
- He won't bless us if we pay tithing, but are irresponsible with our money.
- This site which Royell quoted has 10 timeless tips for teaching kids about money.
- Other Good websites:
- Kids and Money
- Online games that teach kids about money
- Teaching kids about money
- Money management is NOT a matter of math (quote from Alicia's dad)
- Find your number - look at all your assets and liabilities to find your net worth
- Be too stingy to pay interest. Buy everything with cash or pay off in that billing cycle so you aren't charged interest.
- Avoid debt like it's a sin.
- Not all of us have been had the blessing of need. (another quote from Alicia's dad)
- The Lord does not bless wastefulness
- Use things up - re-use - share - plan ahead - be creative
- Buy used or get stuff free. Go to KSL cassifieds or Craigslist or Freecycle.
- Offer excess stuff to each other rather than haul it to D.I. Have a swap meet with family or friends.
- Barter and trade when possible. (Ask Jana Manookin about trading a trip for a pig)
- Oh, and Annette Draper has lots of storage wheat she would love to share, left there by Janet.
- Check out Bountiful Baskets. Order on Monday for a basketful of fresh fruits and vegetables. You pay $15 +tax and pick it up on Saturday morning. You never know what you'll be getting, and that's half the fun. Their FaceBook page shares recipes
- Being wise with your money shows respect for what your husband does to care for your family. It also shows respect for the work you do.
- Check out websites and experts on money such as Dave Ramsey, Suze Orman, Oprah's Debt Diet.
- Dave Ramsey suggests that a couple work on finances together so that they're on the same page. They need to be honest with each other and work things out together. Linda Collard has a DVD of his workshop that she would watch with you. Each person should have an allowance of discretionary money that they don't have to account for. Other things should be mutually decided.
- Pray for your husband's heart to be softened if you can't agree on priorities.
- Every time you go to the store you buy things you didn't plan, so cut down on trips to the store and don't go without a list. Make a menu and shop once a week.
- Walmart will match ads from other stores and has double coupons on Tuesdays. You can often combine manufacturer's coupons with store coupons.
- Savvy Shopper has lots of resources for coupons and will show you what's on sale locally and you can print out the coupon from home. They give a class at Walmart on Wednesday nights at 7 pm.
- Buy in large quantities and share with family, friends, and neighbors so that the excess doesn't go to waste.
- Plan your menus so that you can use something for more meals. Alicia buys a chicken and uses it for 3 satisfying meals for her houseful of hungry guys.
- Put your oil in a spritz bottle so you don't use too much. Poke a small hole in the seal of the syrup so it doesn't come gushing out.
