Back-to-school shopping is a necessity, but it can be a real budget-buster. Last year, the National Retail Federation estimated families with children in elementary through high school would spend, on average, $890 per household. Oof. Want your total to come in waaaay lower than that? Here’s how to save on back-to-school shopping with 10 of my favorite ideas.

1. Shop at home first.

Check junk drawers and random boxes in your home office space. Chances are you have leftover supplies from last year or a used folder or notebook that has another year left in it.

2. Reuse last year’s backpack or lunchbox.

This might not be an opinion if your child’s backpack is threadbare and his lunchbox has a tinge of “What’s that smell?” But a washing machine cycle might bring new life into these pricey line items. Try stretching last year’s bags to January to lessen the blow of back-to-school spending. I mean, what kid doesn’t want to get a new backpack for Christmas?

3. Use DIY locker decorations.

If your child has locker privileges, don’t buy a pre-made locker kit. Hit the dollar store for colorful paper, magnets, and stickers. Let your child unleash her creativity and personalize her locker space for a fraction of the cost.

4. Shop secondhand for electronics.

If your child needs a calculator or other electronic device, consider buying a gently used one from online marketplaces. You can find solid deals on perfectly functional electronics. Just be sure to check the condition carefully before buying.

5. Agree with your child on one splurge item.

My son and I both held pencil cases in our hands. Mine was solid green canvas. His was covered in Pop-Its. I said, “That one is four dollars more. Do you really want it?” Surprise! He really wanted it. Shopping with kids who love school supplies can be a lot of fun, but agree before you go that they get one and only one “splurge” item. This can help teach a valuable lesson in self-control and prioritizing.

6. Team up to buy in bulk.

My mom texted from Costco, “Great price on a 150 pack of pencils!” While my kids do lose pencils as if there are holes in their backpacks, I don’t need quite that many. But you can reap the cost benefits of buying in bulk by shopping with other families. Ask the moms of your child’s classmates if anyone wants to go in on supplies. You can research price breaks through online retailers, purchase for the group, and divvy up the cost.

7. Take advantage of discounts through digital resources.

Follow your favorite brands and retailers on Facebook and Instagram, and subscribe to their email and text alerts. You’ll get word of flash sales, and most retailers offer a discount for joining their loyalty program.

And practice patience. Sign in when you add stuff to your shopping cart, then wait a couple of days before purchasing. Many retailers will automatically send you an extra discount to get you to purchase!

How to Save on Back-to-School Shopping for the Closet

8. Host a hand-me-down party.

Say your daughter’s unicorn backpack is in mint condition, but her love of unicorns has tarnished. You could donate it, or you could bring it and a stack of outgrown clothes to a hand-me-down party. Gather friends, neighbors, and school families with kids of a variety of ages. Everyone brings gently used clothes (or backpacks) and swaps for treasures. It’s recycling, reusing, and saving money, all wrapped up in a fun afternoon.

9. Try consignment before shopping for new clothes.

Consignment should be your next stop if you come up short at the hand-me-down party. Thanks to cost and sustainability concerns, the resale industry is growing, so your town probably has a store or two, or you can shop at an online resale store like thredUP.

10. Make a deal with your kids.

“Mom, what was the Stanley of your day?” my son asked. I responded bluntly, “There were cool shoes or scrunchies we all wanted, but we didn’t consume as much as everyone does now.” It’s true. Kids are always asking for the latest water bottle, jeans, or moisturizer. So, make a deal with them. Agree on the dollar amount you’ll put toward an item. Anything over that, they cover.

What’s your favorite school supply from when you were a kid?

The post Back to School on a Budget: 10 Ideas for Smart Shopping appeared first on iMOM.

The good ol’ piggy bank often marks the beginning of a child’s relationship with money. However, as our kids grow, their understanding of money matters needs to grow, too. Teach your child financial literacy for teens by covering these 4 money maneuvers.

1. Track your spending.

We get it. For many adults, talking about budgeting can stir up stress and anxiety. However, teaching kids about money can positively change how they view finances and empower them to make wise choices. Your teen probably has no idea how much food, car insurance, or even that school yearbook costs. And he also might not recognize how combo #1, a movie ticket, a tank of gas, and two grande drinks add up to quite a chunk of change in any given week. Teaching your teen to track his spending helps him grasp costs, know where his money is going, and identify areas where he can cut back. Financial literacy for teens starts with budgeting.

Speak your teen’s language by using budgeting apps with him, such as:

GoodBudget: This simple budgeting app relies on the traditional envelope system to help people budget their monthly expenses. 

FamZoo: This family finance app is designed to help parents teach their kids to earn, save, spend, and give money wisely.

Or, start with our simple “Share Save Spend” printable to lay out the basics.

2. Comparison shop before spending money.

“Do you think they price match?” my 14-year-old texted me from the LEGO aisle at Target. I had no idea, but I encouraged her to ask. She’d been saving for a particular set for a while and saw it listed for 30 percent less online. Many popular brick-and-mortar stores offer price matching. However, they don’t post signs about it in the stores.

Comparison shopping extends beyond pricing, too. Lead your teen to strengthen real-world critical thinking skills by asking questions to evaluate product features, customer reviews, and other relevant information. For example, ask: What do the reviews say about that product? Will that dress last through more than one washing, or is it better to spend a little more for better quality? Is the brand worth it to you to pay 50 percent more for the same product?

3. Keep an eye out for financial scams.

When financial scams are mentioned, the image of an older adult unknowingly sending money to a con artist comes to mind. But it’s not just the older generation falling for financial scams. According to the FTC, teens and young adults are falling for them, too, and cases are on the rise. 

“Younger adults reported losses to online shopping fraud—which often started with an ad on social media—far more often than any other fraud type, and most said they simply did not get the items they ordered,” reports the FTC. “Many college students reported that they were scammed after getting a message at their student email address about a so-called job opportunity.”

Financial literacy for teens can include walking them through vetting sellers they find on Google searches, TikTok, or Instagram, or on Amazon or other online shopping sites. Teach your teen to read the reviews and check out websites. If the customer feedback sounds sketchy or you see only a few posted, pass on the offer. And don’t order a product if the company website contains misspelled words or incorrect grammar.  

4. Use credit cards responsibly.

We aren’t advocating for kids to sign up for a credit card. However, when your child turns 18, she’ll start receiving credit card offers. Our oldest daughter received six different offers the week after her 18th birthday. Your child probably will, too, regardless of whether she holds a job or is still in high school. 

Before your child’s first credit card offer arrives, discuss the basics of credit and debit cards. Since they look the same, make sure she understands the difference. Walk your teen through a sample statement and explain due dates and minimum payments. Encourage open communication about the potential risks and rewards associated with credit cards. Talk about your hard-learned lessons about credit card use. Used wisely when she is older, a credit card can build her credit score, which can affect everything from car loans to apartment rentals in the future.

How do you feel when you have enough money to buy something you really want? How about when you don’t have enough?

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Whether it’s a time of year that’s already tough on your budget or one invite after another is arriving in your mailbox, knowing you have gifts to buy can be stressful. But thanks to this list of 20 cheap gift ideas, it is possible for you or the kids to show up to the next party with the perfect gift without breaking the bank. Which one will you take to your next celebration?

Cheap Gift Ideas Kids Love

1. Bubble Wrap Treasure Ball

Bubble wrap itself will get a kid psyched. But wrap it around candy or a $5 gift card, and it’ll blow the kiddo’s mind.

2. $5 Gift Cards

Kids love gift cards because they give them a feeling of autonomy. “I get to buy my next ice cream!” The key to doing this right is to buy cards for places that have options under $5. That’s the Dollar Store, an Italian ice shop, or fast food.

3. A Thoughtful Regift

There’s no shame in wrapping a book your child no longer reads or a like-new toy. Moms need to reach a mutual understanding that regifting is not only acceptable, it’s just plain smart.

4. Summer Bucket

Got a summer birthday to buy for? Every mom appreciates another set of sunglasses for her kiddo. Put a pair in a bucket with bubbles and a beach towel and you’ll be made in the shade.

5. Sidewalk Chalk and Stencils

This cheap gift idea is great for all ages (moms love it, too!). When the weather warms up, sidewalk chalk is a great creative activity to get the kids outdoors.

6. Girly Finds From the Dollar Store

A gift from the Dollar Store can look like a mishmash of junk if you don’t have a plan. So, go in with a theme. You can find cute scrunchies, combs, barrettes, and chapstick. All you need is a cute bag to put it all together.

7. A Book Lover’s Dream

Are you buying for the child who always has his nose in a book? Or does his mom wish he’d find a book series he loves? Buy your child’s favorite book for him (or regift!). Include a mini clip-on lamp so he can lie in bed and read at night.

8. Water Balloon Kit

This is quite possibly the best invention ever. And they’re cheap—like 100 balloons for less than $10.

9. Candy and Cash

Don’t forget who you’re buying for. A full-sized candy bar and a $10 bill make an epic gift for a kid.

10. A Bag of Microwave Popcorn, Candy, and a Redbox Code

When a kid opens this gift, she’ll be psyched at the thought of picking the family movie and having snacks all to herself. Maybe she’ll invite your child over to join in the fun!

Cheap Gift Ideas for Adults

11. Jewelry Cleaner

A few years ago a friend showed up at our Christmas party with burlap-wrapped mason jars containing a blue liquid. She said, “Take off the lid, microwave the liquid for 30 seconds, and drop in your grimey jewelry.”

I’m telling you, it makes them sparkle! The solution is Windex and a few drops of dish soap. Here’s the “recipe” and instructions. A tiny mason jar will do, so this is a great gift to give to a bunch of girlfriends, just like my friend did!

12. Your Favorite Thing

What’s the thing you buy over and over again? For me, it’s these little garbage disposal freshening pellets that are $8. Gifts don’t have to be expensive to be valuable. Think about the things you love. Chances are your friends will love them, too.

13. Antique Treasures

When I go antiquing, items often scream someone’s name: “Buy me for ___! She’ll love me!” On an antiquing venture in August, I found placemats from the 1960s that I knew a friend would love. They were $10, so I stashed them for Christmas.

14. Cute Soaps

This is another gift I received and loved. A friend brought me handmade natural soaps, and I love putting out a bar in the guest bathroom.

15. A Book You’ve Read and Loved

A book is the best kind of regift. Wrap it in a nice bow and include a note that tells the recipient why you think she’d like it, too. Close the note with an invitation to get together for coffee to chat about the first few chapters.

16. A Life-Giving Plant

Most every house could use a little green. If you know the person you’re buying for doesn’t have a green thumb, go fake. She’ll love knowing she doesn’t have to keep it alive.

17. Everyday Kitchen Kit

Take a small wooden cutting board, wrap it with twine, and tuck in a cute dish towel. String the twine through the handle of a measuring spoon and you’ve got a cute and inexpensive gift.

18. Mason Jar Goodies

I’ve received bean soup, cookies, hot cocoa, and coffee cake. Can the ingredients fit in a mason jar? Then you can turn it into a gift! Be sure to include a recipe card.

19. Stovetop Potpourri

This is one of my favorite gifts to give at Christmas time, but you can modify the ingredients to fit any season. You need cinnamon sticks, an orange, cranberries, rosemary and cloves. Just place the ingredients in a clear bag with a bow and attach the instructions you can find here.

20. A Journal With a Letter

If you have a special friend, coworker, or relative who seems to have everything, tell her what she means to you and why your life is better because she’s in it. If you think you need a little something extra, slip the letter into a new journal.

With all these gifts, be sure your child includes a thoughtful note in a card. What are some other go-to cheap gift ideas you love?

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When you’re in a financially tight season, it suddenly seems like everything you can’t have is staring you in the face, and it’s easy to become pouty, bitter, or jealous of others. But with a slight shift, you can learn to survive this season more gracefully. Here are 3 things to help you do that.

1. Make a “We get to…” list and keep it visible.

When money is tight, it’s easy to focus on the things we don’t get rather than on what we do get. After I canceled my car wash subscription, every time I saw my dirty car, I felt a little more bitter about my financial situation. But how about being thankful that I even have a nice car? Where had my gratitude gone? I needed a shift in my mindset to focus on what I had rather than what I didn’t have.

Try creating a “We get to…” list. It might be hard to start, but once you get the ball rolling, you’ll smile as you see the blessings listed. Include the whole family by putting your list in a visible place and asking your kids and husband to add to it! Our first list included: “We get to drive two nice cars that are already paid off, live in a neighborhood full of friends, and take music lessons every week.”

2. Remember, it’s not just you.

Although social media will try to fool you, not everyone is living in financial bliss, taking a vacation every month and buying their kids everything they want! Going through financially challenging seasons is extremely common—it’s just not commonly shared.

Talk to a trusted friend about how you’re feeling, and she’ll likely reassure you that we all go through these times. Unexpected things happen to everyone—the loss of a job, health issues, and seasons of life that are just more expensive than others. (The grocery bill for four teenagers, for example! Are they ever full?) Even my parents recently shared that we went through financial ups and downs when I was growing up, and I didn’t even know it.

3. Repeat after me: “I am not depriving my kids.”

Sometimes I feel the worst about saying no to our kids. When we couldn’t afford things like Disney cruises, expensive shoes, or concert tickets, I felt like I was depriving them. My perspective on this changed about three years ago when we adopted a 14-year-old. Her basic needs were often not met during her childhood. She didn’t have a toothbrush for months at a time, and she walked to school through busy streets by herself when she was only 7.

And here she is, 17 years old and so grateful for three meals a day, a bed with clean sheets and blankets, and parents who are present every day and every night. Our other kids have had these things since they were born, so they don’t know what it’s like to live without them. It’s easy to take them for granted and see them as less valuable. You’re giving your kids everything they need and more.

How do you survive financially hard times gracefully?

The post 3 Ways to Survive a Financially Tight Time Gracefully appeared first on iMOM.

Managing money well is a skill we want our kids to have before they’re on their own. I’m not just talking about physically putting it in a wallet or the bank. They have to have some knowledge of it, too. Want to see how smart your kids are about money? Take this TRUE or FALSE money quiz along with them and see who scores highest.

1. TRUE or FALSE? If you look rich, you probably are rich.

Answer: Your cursor might have instinctively hovered to “True,” but the answer is definitely false! Just because someone drives a Bentley doesn’t necessarily mean he or she’s rich. There are many reasons people could have a Bentley, but not every reason means they’re wealthy. They could have been given it by their parents or rented it. The person with a fancy car or giant house could also be in huge debt. In other words, someone’s look is not necessarily the same as his or her reality. There’s a great quote that says, “People go broke trying to convince people they aren’t broke.”

2. TRUE or FALSE? If you want to play on the team, go to the gym. If you want to own the team, go to the library.

Answer: True. Who said that? Chris Gardner, the subject of the movie The Pursuit of Happyness. He was completely homeless with a child but worked his tail off to become a stockbroker and eventually owned his own firm. His mom taught him that truth. He now reportedly has many, many tens of millions. Her wisdom paid off for him.

3. TRUE or FALSE? Financial success isn’t buying more stuff. It’s learning to live on less than you make.

Answer: True. In fact, financial success is spending less than you make for a long time. Period. That’s all it takes. And the wealthy have just figured out how to have less of their money go out than comes in. Sounds like a pretty simple concept, huh?

4. TRUE or FALSE? If I could make a lot, I would give a lot.

Answer: False. This is a money quiz question many get wrong. I wish I could say this is true, but for many Americans, the more we make, the less we give. You would think that people in general would give more, especially if they had more. But many have not learned the truth about the paradox of giving, which means it is harder to give more than you get back. George Jenkins, the founder of Publix Super Markets, was once asked how much he would be worth had he not given away so much money. His reply was, “Probably nothing.” Try it.

5. TRUE or FALSE? “Money makes a good person better and a bad person worse.”

Answer: True. Money is the great magnifier. Do you know who said this one? Truett Cathy, the founder of Chick-fil-A. It magnifies what is already inside us—what kind of person we really are. If you are a taker in life, a person who only thinks about and wants more for yourself, and ends up making more money, you will use that to take more from others. But if you are a serving type of person, if you have a giving heart, a kind spirit and end up making more money, you will use that money to do more for others.

6. TRUE or FALSE? Most Americans are rich.

Answer: True and false. This was a trick question. Americans are wealthy from an “international” perspective. The amount of wealth Americans have when compared to other nations is remarkable. I heard once that if you ever scrap food into the garbage disposal, you are rich. If you have a pair of shoes, you are rich. If you have running water that doesn’t make you sick, you’re rich.

But from a national perspective, we’re not doing so hot. The average American family has little to no money saved, a large amount of monthly expenses and credit payments, and a total dependence on next month’s income to stay out of bankruptcy. In other words, we can do better.

How did you and your kids do on the money quiz?

Taken with permission from “The Talk” (about money) by Dale Alexander, CFP.

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Can you just hear the debit card swiping away? I currently have three teenagers, and while they were expensive as kids, at least most of the expenses were my idea. And nothing prepared me for how much fast food they would ask for at this age. Nothing.

It’s forced me to ask, as it may have for you, “Should I make my teenager get a job to help pay for all this stuff?” And while every teenager and situation is unique, here are three questions to ask that can help any mom answer with confidence.

1. Does your teen need a reminder about wants vs. needs?

Generally, parents provide for a child’s needs while wants are earned. We try to teach young kids this concept because we don’t want them to become Veruca Salt from Willy Wonka. But any parent of a teenager will tell you teens care more about their appearance, want certain foods, and want to do fun things with friends. In an effort to keep them happy, we can easily slip into a habit of overindulging them, which leaves us tapped out.

At times, a teen can lose sight of the difference between wants and needs. He needs shoes that fit. He doesn’t need the new On Clouds that run $150. If he wants the On Clouds, it might be time to get a job to pay the difference. It needs to be said, however, that sometimes teens need to get jobs because their parents can’t afford to pay for their needs. We live in an expensive world, and many teens need to work for legitimate financial reasons. The benefit of is a sense of pride and accomplishment as these teens work hard to contribute to the family. They typically understand the difference between wants and needs very well.

2. Does your teen have time in this season?

Two of my teens got jobs at the same restaurant last summer. When school started in the fall, they continued to work a couple days a week. One of them was able to balance working and going to school while the other one struggled a lot. I began to realize the academic load, extracurriculars, and time management skills were very different for each of them and encouraged my stressed-out teen to quit her job for a while. It simply wasn’t healthy for her, and we had to prioritize school and health over making money.

Each year, each season, may offer a different amount of free time for your teen. Our overachievers sometimes need to be encouraged to back off during the school year, while our less-involved teens need to be encouraged to take on more hours. Making this a routine discussion with your teen will help him or her to learn to evaluate time and priorities in each season, which is a great skill to carry into adulthood.

3. Does your teen need a lesson in money management and responsibility?

The reason behind the question—”Should I make my teenager get a job?”—might not be financial. Do you have a teen who’s around 16 and dying for a car or planning to go to college, while spending every bit of his birthday or Christmas money on the extras? If so, your teen may need a refresher on what it means to earn, save, and spend. Big ticket items take months, if not years, of saving. Teens live very much in the here and now, thinking “I can save for that later.” But “later” is closer than they think.

Help your teen learn to save by earning a paycheck and learning to save a percentage of it every week. Many bank apps now have great features right within the app to help them do this, even with direct deposit. And when the time comes to purchase a car or pay that first college bill, your teen will have a sense of pride, ownership, and appreciation that other teens might not have.

Do you think teenagers need to get jobs? Why or why not?

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Food is usually one of the highest lines on a family budget— highest in both priority (you’ve gotta eat!) and cost— but there are ways to spend less without feeling deprived. In fact, you can go grocery shopping on a budget even while eating organic if you follow certain rules and know a few secrets. Everyone knows you shouldn’t go to the grocery store hungry, but do you follow these other 17 rules, too?

Grocery Shopping on a Budget: Save when you plan.

1. Time spent planning leads to big savings.

Ok, this one isn’t a secret, but it needs to be said because it’s the most important tip for grocery shopping on a budget. Make a list and stick to it. Be specific. Plan breakfast, lunch, dinner, and snacks. And get the kids involved with our Healthy Meal Planning for Kids printable.

2. Go less frequently.

I was spending $200 per weekly trip. When I switched to twice a month, those trips average about $325. If you do the math, you’ll see I’m saving about $150 per month. For week two of the cycle, I plan meals with frozen veggies instead of fresh ones.

3. Use more than one store.

I love my neighborhood grocery store, but there’s another store a mile in the opposite direction that has significantly lower prices, especially on snacks and dairy products. I go there first and get everything I can on my list and then head to the more expensive store. Yes, it takes more time, but it’s worth it when the same item is several dollars cheaper.

4. Stick to the same store location.

I know. I just said use the same store. What I mean by, “stick to the same location,” is that if your town has three Publixes or two Krogers, try to go to the same one every time. There’s a Publix near my church that I occasionally visit and I always spend more there because I’m not as familiar with the layout. When you know a store like the back of your hand, it’s easier to only buy what you need.

5. Put meals on repeat.

Pick ten meals and repeat them throughout the month. You probably do this unintentionally anyway. Now, plan for it and save money on those random ingredients. Because I make chicken curry frequently I know that jar of curry paste isn’t going to sit in the fridge for a year after using just one tablespoon.

6. Challenge yourself to simplify your meals.

If you’re grocery shopping on a budget, recipes with fewer ingredients are your friends. A dinner of chicken, rice, and black beans is a prime example of a simple, yet delicious meal.

If you’re grocery shopping on a budget, recipes with fewer ingredients are your friends.
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7. Pull the reins on the meat.

Maybe you’re not interested in going full vegetarian, or, like me, you have a husband who thinks there needs to be a slab of something on each plate. But one meat-free day a week will reap big benefits on your grocery bill. Another idea is to add other ingredients supplement to the meat. For our tacos, we have stuck to one pound of ground turkey but added a can of black beans to fill the bellies of my growing boys.

8. Go seasonal with produce.

I’m in Florida, where the price of strawberries in March is a fraction of what it is in October. Take a minute to find out what’s in season and eat the way God planned! This is a great tip for anyone wanting to switch to organic produce.

9. Utilize the Dollar Store.

There are some items you probably pay $5 or $10 for at the grocery store that you can get for $1 if you’re willing to make an extra trip. I’m talking greeting cards, party supplies, and yes, even pregnancy tests.

Grocery Shopping on a Budget: Save at the store.

10. Stay in the zone.

When you make your list (which you did because you followed rule number one), write it in the order your store is arranged. If you just weave through the aisles, it’s a recipe for impulse buying. I can hear you saying, “But I might see something I need that I forgot to put on the list.” Try standing at the end of the aisle and scanning it for a moment to jog your memory.

11. Ask, “Can this wait until the next trip?”

As I make my list or walk the store, sometimes I see an item, go to put it in the cart, and realize it can wait another week or two. When grocery shopping on a budget, remind yourself that just because you could buy it now doesn’t mean you have to buy it now.

12. Drop brand loyalty.

Loyalty is great when it comes to sports teams and family members, but not toothpaste and toilet paper. Cheat on your toothpaste and save money!

13. Occupy the kids.

Idle hands lead to grabbing and “Can we buy?” so put your kids to work. Let them organize the cart, calculate the total, or if they’re big enough, send them to grab items and get your trip done in half the time.

14. Learn the lingo.

At one store where I shop, a sale that says “2 for $6” means I can buy one for $3 (and maybe its normal price is $3.75). At another store, the fine print says, “$6 When You Buy 2.” Know the store’s sales and only buy what you need.

Grocery Shopping on a Budget: Save after you shop.

15. Utilize your freezer.

We have a joke in my house. When someone asks, “Can you freeze ____?” the response is, “You can freeze anything.” You just might not want to eat it when it’s been unfrozen. The freezer is your BFF if you’re trying to buy food when it’s on sale. I only buy bread when it’s BOGO. It gets put in the freezer as soon as we unpack the grocery bags.

16. Stick to the plan.

We’ve all done it. Planned a meal and then said, “I don’t feel like cooking. Let’s order in.” Make room in your budget for dining out so you have that to look forward to and then stick to the meal plan you’ve set.

17. Or go rogue with a “Fend for Yourself” night.

If you do want to veer from the meal plan, announce that it’s an “F.F.Y.” night. My kids get super excited about these because they get to pull together anything they want. The first time we did it my younger son ate blueberries and shredded cheese. In one bowl. Since he created the dish, he was proud to eat it. An F.F.Y. night is a great way to use leftovers and items deep in the pantry. Caveat: You might have to look the other way and allow the occasional bowl of cereal.

What’s your best secret for grocery shopping on a budget?

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But it turns out there are a few ways to save money quickly so you can have a few extra dollars in your stocking. Some of these 7 easy ways to save money are one-and-done and others are permanent changes to your budget that will help you save month after month.

1. Shop around for your expenses.

We all have those monthly expenses that feel stuck and we can’t do much about it. Cable and internet, electric, car insurance. And for many people, health insurance feels that way, too. But health care sharing ministries like Medi-Share cost hundreds of dollars less per month than traditional insurance and also take care of you and your medical expenses better than any insurance company.

One couple who uses Medi-Share said they couldn’t believe the monthly share amount was so low and that it was nice to “finally have a health care company we can trust.”

2. Carpool.

Carpooling isn’t just for kids! I just found out one of my colleagues lives 10 minutes away and I pass by her house on my way to the interstate. We could share the 40-minute drive to work (even once or twice a week) and not only save money on gas but also get to know each other better.

If you’re worried about awkward silence or making conversation, settle on a podcast you both enjoy and listen together on the drive.

3. Live like a temporary pauper.

I can hear someone saying, “Joke’s on you! We already do!” I get that cutting back is hard when you feel like you’re living on a shoestring budget. But if you’re trying to save money quickly, a good way to do that is to see how you can sacrifice big, but temporarily.

One idea is to forgo the trip to the grocery store for a week or two. You might eat cereal for dinner one night. Or you’ll send the kids to school with a PB&J and the chips in the variety pack that usually go uneaten because they’re everyone’s least favorite (for us, that’s Fritos). But if it leads to a $200 savings, it’s worth it. And your kids will probably love the scrounged-up dinners you create.

4. Make the most of your credit card.

Some people would argue with me on this one, but I believe using a credit card responsibly is a good way to make your money work for you. In my home, we put our monthly expenses that can be charged on a cash-back card. It’s in our budget to pay all those bills, so instead of paying them separately through our checking account, they all get paid with the card, and we pay the card off every month.

Some months we get $50 cash back. Now if you aren’t going to pay it off immediately, this trick will work against you. Don’t waste your money on interest if you can avoid it.

5. Do a subscription audit.

According to a recent survey, the average consumer spends $273 per month on subscription services and 89 percent of those surveyed underestimated what they spend each month. Nearly half of those who underestimated were off by between $100-$300.

Check your bank account and write down every service you subscribe to. Netflix, Amazon Prime, fitness apps, music streaming, gaming services, cloud storage… The list goes on and on. You might find that there are a few things you don’t use and should break up with. They might only be $4.99 a month, but if you part with a few, you could save a significant amount.

6. Find a different way to scratch the dining-out itch.

My family loves to go out to dinner. Not having to cook, clean up, or refill a kid cup once or twice a week is worth the expense to us. But in times when I need to save money quickly, I know dining out is one of the first things on the chopping block.

Instead of doing dinner out on a Saturday night, eat a simple dinner at home and then go out for dessert, or take the meal to go and save on the tip and drinks. Is it the same? No, but when you have more money in the bank, you’ll be grateful you made the sacrifice.

7. Sleep on it.

Agree with your husband to sleep on every online purchase you make for the next month. Amazon is so convenient that it’s easy to find yourself buying something the moment it pops in your head without stopping to consider if you really need it.

The dopamine hit you get when you make a purchase combined with the convenience of having the item on your doorstep two days later makes impulse buys a major expense for some families. Give it 24 hours before you click that purchase button. Teach your kids how to avoid impulse purchases with our free Ask Why Before You Buy printable.

What’s your go-to way to save money quickly?

The post 7 Easy Ways to Save Money by Christmas appeared first on iMOM.

I know some people believe separate accounts will save you because you have financial independence, which arguably can bring security and autonomy. And maybe that’s not entirely wrong, but there’s more to the story than just financial independence. What’s your take on these 3 arguments for how couples should keep their bank accounts?

Independence vs. Consideration of Others

One argument for separate accounts suggests having joint savings accounts but separate checking accounts for day-to-day transactions. The notion is that keeping track of a higher number of small transactions is easier if it’s just your transactions and not your husband’s too.

The thought of doing what you want with the money you earned is nice, but there are benefits to managing your money together in joint accounts. When you and your spouse start to think of it as “our” money instead of “my” money and “his” money, your mindset changes. Suddenly you, your spouse, and your money are a team. Pooling your money together can make your marriage strong because it requires you to be considerate of the needs of your spouse and children. It also equips you to put others first because it’s not just your money.

Independence vs. Interdependence

The main argument a lot of experts give for having separate accounts is that in cases of divorce, it’s most often the woman who is left financially ruined with no liquid assets or retirement funds. Having your own accounts will give you your own credit score and saving on your own for retirement will prevent you from being left high and dry.

Well this is scary to think about, but so is a lot of what marriage requires. In marriage, you’re trusting your husband with your whole self, not a portion. Trust isn’t trust if it’s given with conditions. In fact, having this safety net might even plant a subliminal message that you have an out should you need to take it. Keeping one area separated, like a bank account, can lead to separation in other areas. Having joint accounts creates an opportunity for you and your husband to grow in interdependence.

Independence vs. Accountability

Finding the time and energy to sit down together to talk about bills is one of the hardest parts of marriage and it often leads to fighting. If you both work and can put your money into separate accounts, you’ll have one less tricky situation to solve.

This strong argument for why separate accounts are helpful is also an argument for why you should have a joint bank account. Being accountable to each other helps marriage in multiple ways. It gives you a reason to work as a team. It helps you align your goals. And communication between you and your spouse will improve because you both are consistently talking about what you’re doing with your money. Avoiding difficult things rarely makes us stronger as individuals or a couple.

But let’s be honest…

Now it’s easy to say what works for me and my husband, but I know financial situations aren’t cookie cutter. Maybe the common reasons why you should have a joint bank account just don’t work for your family. If you receive child support and need to set that money aside, it’s wise to have separate accounts. Or if you have a spouse who has proven to be untrustworthy and risky with money, like by compulsive gambling, joint accounts could create financial ruin for you. You know what’s best for your situation.

What has made you decide on joint or separate accounts? 

The post Is It Critical for Spouses to Have Separate Bank Accounts? appeared first on iMOM.

But here’s the thing—money may create short-term enjoyment, but it never provides lifelong happiness. That can be a tough pill to swallow when you’re struggling financially, but here are 5 ways to shift your thinking so you can find happiness when your cash flow is low.

Instead of saying “I can’t do fun things,” say…

“I make the choice to save my money for greater things in the future!” By skipping out on spending money now and saving it or paying down debt with it instead, you’re making a wise choice for your children’s future and for your own future, too. It isn’t just kids who struggle with delayed gratification—it’s hard even for us mamas! But it’s always worth it in the long run.

Instead of saying, “Everything I enjoy costs money,” say…

“I choose to find creatively cheap enjoyment!” There are plenty of cheap or free things to do, such as take a drive, go for a hike, sign up for a free class, or volunteer for a cause you are passionate about. If you think outside the box, you’ll dream up lots of great ways to have fun without spending a dime.

Instead of saying, “I’ll never be happy without [insert costly item here],” say…

“I can pay now in the form of sacrifice so I won’t have to pay later in the form of debt.” Your happiness doesn’t depend on material things; it actually depends on security and peace with yourself. And besides, that “thing” you want so badly might make you happy for a little while, until the next thing comes along that you desperately want.

Instead of saying, “I’m the only one who doesn’t have money to spend,” say…

“I refuse to compare myself to others because everyone’s situation is different.” It stinks to feel like you’re the only one saying no to girls’ night, weekend trips, coffee dates, and shopping sprees. However, you’ll feel better about yourself when you don’t give in to peer pressure. Plus, you can’t spend money you don’t have.

Instead of saying, “My friends are going to stop inviting me and including me on things,” say…

“I deserve friends who will respect and encourage my decisions.” Friends should love and accept you for you, and never make you feel bad about finances. Find supportive friends who will understand you don’t have extra spending money for this season of life.

Do you think you can feel poor but happy? What are some encouraging things you tell yourself when you feel bummed about not having extra money?

The post 5 Ways to Find Happiness When You Have No Money appeared first on iMOM.