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Baby Clothes: 7 Money Saving Shopping Tips for New Parents

Perhaps the biggest problem with baby clothes is that they don’t last. Not because they wear out, but because your baby quickly out grows them.

It’s important to plan your baby clothes shopping around the growth of your baby. If you don’t, you could be wasting money.

Keep in mind these seven tips while you plan your baby clothes shopping:

1. Wear a Larger Size

People say babies grow fast, and they’re right about that. You’ll be wasting money if you buy perfect fitting clothes because they’ll soon be too small. Buying a larger size will extend the amount of time your baby can wear them.

2. Make a Weather Prediction

Stop and think for a moment about clothes labels that state size in terms of a baby’s age, such as 12 or 18 months. Then ask this question: “When my baby is X months old, what will the weather or temperature be like?” Get the answer to this question correct and you’ll buy clothes that not only fit, but also will be appropriate for the season.

3. Find Easy To Put On Outfits

Sometimes you’ll struggle to dress your baby into an outfit you want him to wear. Outfits that come in several pieces, button from behind or pull over the head may require more of your patience and time. Outfits that come in one piece, open in the front, have zippers, or snap buttons should be easier to deal with.

4. Have Enough for Emergencies

Food can drop on your baby’s clothes while you’re feeding him. If your baby becomes sick, he might throw-up on his outfit. When a messy accident occurs, you’ll need a clean set of clothes ready for your baby to wear.

5. Save at The Clearance Racks

You can save a bundle at the clearance racks. Almost every type of store has these. In addition, if you wait for a big sale you can save even more. Some stores will also markdown the clearance item further at the cash register.

6. Accept Hand Me Downs

Your family and friends may want to give you their children’s baby clothes. They may have new clothes that their baby didn’t have a chance to wear. If you decide to accept what they are willing to give, you’ll save yourself some money, especially if they have clothing you would have bought.

7. Exchange Old Clothes for Cash

Sell the clothes your baby no longer fits into on eBay. eBay is just an example. There are many other ways to trade your old clothes for cash. You may not make as much as you had originally paid for them, however, you’ll at least earn some of your money back.

Summary

If getting the most use out of the clothes you buy for your child is important to you, then the seven tips in this article should help you accomplish this. Take these ideas with you the next time you go baby clothes shopping. You’ll feel good about the clothes you buy for your baby and the money you’re going to save.

PAY YOURSELF FIRST. Treat yourself as your most important creditor. Determine an amount that can be saved weekly, fortnightly or monthly for long term purposes and emergencies and save it regardless. Somehow we manage to find the money for the phone bill, the rent etc so much decide to find the money for savings. This money management decision is life changing as over time it leads to financial independence.

AUTOMATE YOUR PAYMENTS. When things get stressful and we become overwhelmed with financial worries, our financial affairs can get out of control very quickly. Internet banking can solve a lot of this problem. If a part of your problem is that your income is inadequate, then automate some or most of your payments. Doing this, releases the stress of having to find the money for a lot of different payments. You may still be short one or two payments but it is easier to look for a solution for one or two payments as opposed to six or seven. Effectively, automating your payments saves you time and stress and helps you to take control of your financial affairs.

CONSOLIDATE DEBTS. If you are able to consolidate a number of debts into one loan at the lowest possible interest rate, your monthly expenditure will decrease, sometimes by a lot. If you own your own home, you will be able to get a home equity loan at comparatively low interest, which is a better option than a personal loan.

USE MONEY FOR THINGS OF LASTING VALUE. So much money is spent on items that have no lasting value and give no lasting pleasure. Many of this spending is at the expense of those things that actually do matter and will really benefit us in the long run such as owning property, funding retirement and paying for education.

These money management tips can improve the quality of your life by helping you take back control of your finances, reduce stress, increase savings and make better long term decisions regarding your spending.

You have two options to consolidate and reduce your debt if you dont own a home. First, you can use the services of a debt consolidation agency. They will negotiate lower interest rates and smaller payments. The other option is to take out a personal loan and pay off your debt. The best option depends on your financial situation.

Debt Consolidation Agency

Debt consolidation agencies, also called credit counseling, offer many credit services. Their primary job is to help you pay your debt and bills by negotiating lower rates and payments with creditors. If you have bad credit or on the verge of bankruptcy, this service might be your best choice.

You arent charged any fees by these agencies since they are funded by financial companies. Financial companies dont want to see you declare bankruptcy and not pay them back, so they are willing to set up alternative payment plans.

Besides consolidating and reducing your debt, you can work with credit counselors to improve your credit. They can offer you advice on creating repayment plans, saving goals, and future financial strategies.

Personal Loans

You can also decide to use a personal loan for debt consolidation and reduction. With interest rates typically lower than credit card rates, you can reduce your payments by hundreds. One payment also makes it easier to pay than several small bills.

With an unsecured personal loan, you will need to have decent credit and steady income. Once you pay off your other debts, you can decide to leave those accounts open for emergencies or close them.

Before you pay off all your bills with a personal loan, make sure you have researched several lenders to find the lowest rate. Also be sure that you find a rate lower than what you are currently paying on your bills. Personal loans are usually prime plus 2% to 5% higher.

Explore Your Options

Before committing to either option for debt and bill consolidation, research your choices. Request quotes from lenders to see if you can find a good rate on a personal loan, but also talk with debt consolidation agencies to see what they can do for you. Choose the option that can lower your rates the most given your credit history.

If you want to reduce the debt that you are dealing with in your life, there are various ways that you can do this task. While it may not be easy to cut your debt, it will be worth the effort in the long run. Here are four ways that you can apply to reducing your debt. Using these methods could also lead to wiping your slate clean of all your debts.

#1 Use Cash Only

One way that you can drastically reduce debt that you have is by using cash to pay for your purchases. If you continue to use your credit cards all the time, you will only build up more and more debt. As the debt piles up, you begin to lose control, and find yourself behind on your monthly payments.

Instead of reaching for your credit card, start buying only what you can afford with the cash you have. Often, this will mean making do with less. But a small sacrifice can prevent financial disaster in the future.

Tip#2 Get Rid of High Interest Credit Cards

If you want to reduce debt that you already have, you need to get rid of those high interest credit cards that you are carrying. Many times, you are barely paying off the interest each month with your payments. But if you get a card with lower interest rate, more of that monthly payment will pay off the original amount you owe. If you need to have a credit card for emergencies, make sure the card is a low interest one so you will not have to pay much interest costs.

Tip#3 Do Not Avoid Your Creditors

Fear may tempt you to avoid bill collectors and credit cards companies who call wanting payment. But you can benefit from talking to them. Often, if you talk to your lenders, you can let them know you are doing your best to pay your bills, but with much difficulty.

The lender may then propose a settlement that could provide some relief from your debts. This could mean offering a lower interest rate or having you skip one or more payments. Creditors like to know that you are working to pay your bills, so take the initiative and talk to them personally.

Tip#4 Decide on a Budget

Another way that you can reduce debts is to come up with a reasonable budget and stick to it every month. This will help you to live within your means so you are not always spending more money each month than you make. Make sure to budget in payments for your bills as well. And if there is any extra money, you may want to pay more on loans or credit cards that have high interest rates.

Families need to work together to reduce debts that you have built up. Usually, there is a way that everyone can help. Whether it is by watching the grocery spending or cutting down on what you spend on movies and entertainment each month. If you want to reduce your debt, it will take work and perhaps even sacrifice. But in the long run, it will be worth it to see your debt come down with each passing month. If you work at it, you will be debt free.

If you want to reduce the debt that you are dealing with in your life, there are various ways that you can do this task. While it may not be easy to cut your debt, it will be worth the effort in the long run. Here are four ways that you can apply to reducing your debt. Using these methods could also lead to wiping your slate clean of all your debts.

#1 Use Cash Only

One way that you can drastically reduce debt that you have is by using cash to pay for your purchases. If you continue to use your credit cards all the time, you will only build up more and more debt. As the debt piles up, you begin to lose control, and find yourself behind on your monthly payments.

Instead of reaching for your credit card, start buying only what you can afford with the cash you have. Often, this will mean making do with less. But a small sacrifice can prevent financial disaster in the future.

Tip#2 Get Rid of High Interest Credit Cards

If you want to reduce debt that you already have, you need to get rid of those high interest credit cards that you are carrying. Many times, you are barely paying off the interest each month with your payments. But if you get a card with lower interest rate, more of that monthly payment will pay off the original amount you owe. If you need to have a credit card for emergencies, make sure the card is a low interest one so you will not have to pay much interest costs.

Tip#3 Do Not Avoid Your Creditors

Fear may tempt you to avoid bill collectors and credit cards companies who call wanting payment. But you can benefit from talking to them. Often, if you talk to your lenders, you can let them know you are doing your best to pay your bills, but with much difficulty.

The lender may then propose a settlement that could provide some relief from your debts. This could mean offering a lower interest rate or having you skip one or more payments. Creditors like to know that you are working to pay your bills, so take the initiative and talk to them personally.

Tip#4 Decide on a Budget

Another way that you can reduce debts is to come up with a reasonable budget and stick to it every month. This will help you to live within your means so you are not always spending more money each month than you make. Make sure to budget in payments for your bills as well. And if there is any extra money, you may want to pay more on loans or credit cards that have high interest rates.

Families need to work together to reduce debts that you have built up. Usually, there is a way that everyone can help. Whether it is by watching the grocery spending or cutting down on what you spend on movies and entertainment each month. If you want to reduce your debt, it will take work and perhaps even sacrifice. But in the long run, it will be worth it to see your debt come down with each passing month. If you work at it, you will be debt free.

Creating a budget is a great idea, it can allow you to take full control of your finances and help you highlight areas where you need to cut back on spending to save yourself money.

However, when creating a budget, many people make simple mistakes and end up damaging their finances further.

So, how can you create a budget and avoid the common budgeting blunders?

·        Don’t forget about your hobbies

It is important to realize that budgeting isn’t just about planning for your essential spending, but you must also plan for your free time too. For example, if you watch soccer once a week, and this costs you $10 a time, you should include this into your budget.

It is surprising how many people actually forget to do this and end up not budgeting for the money they need to enjoy themselves.

·        Don’t spend more than you earn

Although this is obvious, it is easy to forget – especially if you’ve got a credit card. You should keep track of how much you spend – every time you spend. That way, you know exactly how much has gone out of your account and how much you have left in your account.

If you use a credit card to do all your spending, you may find it particularly hard to keep track of your spending. Credit cards allow you to spend money you don’t actually have, which can be a dangerous thing to do and land you in some pretty big debt.

·        Don’t forget your ‘emergency fund’

Every month, I set around $80 aside in case of emergencies that need paying for. If you fail to do this, how will you pay for repairs to your car or home? Or what about if the dog goes into the vets – how will you cover the cost of that?

How much you set aside is up to you, and will depend on your lifestyle and how much you earn each month. Just make sure you set enough aside (plus a little extra) in case something unexpected happens and you need to pay for it.

·        Don’t underestimate your spending on essentials

When deciding how much you are going to spend on food, for example, make sure you are as precise as possible. Don’t just write a figure down without planning it out, because you will probably find that it won’t be enough, and you will be left struggling to afford other things because you didn’t plan properly.

To make sure you get a clear idea of how much you plan to spend, you should write down everything you need to buy from your local store each week, and then use the internet to find out the average price per item.

If you can’t find the prices this way, do a ‘dry run’ at the local store. Just walk round and make a note of how much each item will cost you before you head in and buy them.

When you have the prices, add them up and this will give you the amount of money you will need to budget for food shopping. It’s always best to add a bit more to this amount in case you need to buy other items, and to allow for price rises.

For more information try –

IVA Advisory Centre

Guardian Money