In my family, we can go through four or five boxes of breakfast cereal per week. And in case you hadn't noticed, those of wheat, oats, corn, and sugar have crested $4 in many stores. The kids, alas, also drink a lot of soda, and we like a certain brand of frozen noodle dish.
And so we keep a close eye on supermarket flyers for sales and when we find one we go out and pick up a "few" - as in a few cases of 24 boxes of cereal, a half-dozen flats of 24 soda cans each, and a whole bunch of frozen noodles.
Avoid convenience stores, gourmet shops and specialty markets. Specialty items are very expensive and convenience store prices are high.
Weigh all produce. Individually wrapped heads of lettuce can differ in weigh by as much as half a pound. The actual weight of pre-bagged carrots can be less than the weight printed on the bag. You might do better buying loose, fresh carrots. Get the most for your money.
Another way to monitory your budget is to set up a cash box with a number of envelopes each marked according to the purpose for which the money will be spent. At the beginning of the planning period, you put the money you’ve budgeted into the appropriate envelopes; when payments are due, you withdraw the amounts you need. You can also keep receipts in the same envelopes.
The advantages to this system are its simplicity and control. There’s little chance of using the money meant from one purpose to another. And you may be less likely to overspend, because you can see when you’re out of funds.
Putting college savings in a child’s name could significantly reduce your eligibility for financial aid. Correct the mistake you have now in your preparation for financing college education for your children.
Reason: Standard college tuition aid formulas consider 35% of child’s total assets to be available to pay tuition, compared with only 5.65% of a parent’s total assets. So putting assets in a child’s name can reduce, or eliminate, your eligibility for tuition aid.
Welcome to my blog. Learning how to be financially free and successful in life is the main topic/subject on these blogs. So, following my blog enables you to learn more lessons and apply it in your life. Hope you live happy and rich.
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