1
Aug

Tips for Back to School Season

Tips for Back to School Season

Although it’s not even August yet, storefronts and businesses are beginning to advertise what some kids dread, and others cherish, back to school time. In a report from Huntington Bank Backpack Index, school supplies have increased a whopping 88% since 2007. With this statistic, here are 3 tips to consider for this back to school season.

  1. Kids are good at persuading
    • Leave the Kids at Home:
      In a 2017 report from National Retail Federation, 65% of back-to-school purchases were a direct result of their children’s influence. Instead of brining your child, involve them early in the process by checking out store ads at home and pointing out what they like. This will help you get more of what matters, and less of impulse purchases
    • Bring the Kids with
      Want to bring your kids with? Use it as a learning experience by teaching them about prioritization and budgeting. Not only will this help them realize the difference between want and need, but will also help them understand the value of money and how to be a savvy shopper.
  2. Looks for the deals
    August brings slightly cooler weather and more importantly, great back to school deals. Before shopping, check your mailbox and email for the latest deals on school supplies. This will help you narrow down which stores to shop at. Beyond this, check out the stores loyalty program. Businesses like Kroger offer loyalty cards that can help you save on supplies as well as groceries and other necessities.
  3. Buy/Rent Used
    Gone are the days where required textbooks come brand new with a price tag of $100 and up. Companies like Amazon and Barnes & Noble offer online and in-store textbook rentals at the fraction of the price of brand new textbooks. Once you receive a list of required material, you can search the title and/or ISBN # to find the best deal all while saving you time.

The earlier in life a child begins learning about saving on the little things for big savings in the long term, the better off they are for ‘real world budgeting’. By utilizing some of these strategies, you will be able to make your school supplies list and credit card statement shorter, just like they should be! Most importantly, these tips will help you save all while growing your child’s knowledge on finances and how to save.

Questions about other ways to save for your child’s education? Have left over money after purchasing back to school supplies and want to put it toward your retirement goals? Reach out to your financial advisor today and see how they can help you on your financial journey!

*Statistical references and content derived from Forbes.com and Marketwatch.com
Disclosure: This information is provided as general information and is not intended to be specific financial guidance. Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.

The post Tips for Back to School Season appeared first on Adult Financial Education Services.

Provided by: Adult Financial Education

2
Jul

Tips for Summer Travel

Tips for Summer Travel

Are you planning to get away from the normal this summer? According to AAA, so is about 35% of Americans. With vacation season in its prime, businesses everywhere are hiking prices and fees in anticipation for a busy season. With this, here are 5 quick tips to save money on your summer travel.

  1. Strategically plan your travel – Most people take vacation while schools are out for the Summer. If you can, traveling during this time is ideal.
  2. Be Careful when you book – Is there a best time to book? Yes, in fact, if you book airfare on a weekend, you would save 19% on average. Although the reason for this is still a mystery, it can be assumed that they know you are not a corporate traveler, and thus, will look for the best deal.
  3. Stay somewhere new – If you already have a destination in mind, you should spend more time on figuring out where you will stay. Often times, cheaper and nicer options such as Air B&B’s and Hotels ‘off the beaten path’ go unnoticed. Finding a new place to stay can not only save you money, but can also open the trip to new adventure!
  4. Book early, save more $$$ – When booking travels, the sooner you book the better it feels on your wallet. On average, the best time to book travel is about two months before departure date. Already booked your trip this Summer? Get a head start on next Summer by setting price alerts on Google Flights or Hopper so you know when the price is best!
  5. Know your apps – In a day and age where you can find everything with the slide of your finger, it is crucial you have the right applications to get you the best bang for your buck. Some great apps are Dealray (for cheap flights), AutoSlash (for car rentals), and Roomer (for deeply discounted rooms). You can also Google Best Travel Apps, since apps are always changing!

Whether you are planning to travel the world or just traveling to the next city over, make sure you are getting the best deal possible by following the tips above! Already planned your summer trip(s) and realized you’re under budget? Reach out to your advisor today to see how you can invest your savings for the future!

 

*Statistical references and content derived from Forbes.com and travelandleisure.com

Disclosure: This information is provided as general information and is not intended to be specific financial guidance. Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.

The post Tips for Summer Travel appeared first on Adult Financial Education Services.

Provided by: Adult Financial Education

1
Jun

Mid-Year Financial Check Up

Mid-Year Financial Check Up

Happy Half Year! Time flies and first 6 months of 2018 are already here and gone! With the second half of the year fast approaching, it’s important to know how your finances are stacking up compared to your goals when the year began. What better way to that then to check out these quick tips for a mid-year financial check-up:

  • What’s your credit? Your credit report is basically your permanent record. Your credit score shows how your spending, the frequency of your spending, and how you have repaid money owed. Therefore, it is so important to know where you stand. Check out annualcreditreport.com for a free report to see what you can qualify for and to check for signs of identity theft.
  • Are you over paying Uncle Sam? Last year alone, millions of people overpaid on their taxes by thousands of dollars. Make sure your W-4 accurately represents your financial status so you don’t overpay or underpay on your taxes. Head over to irs.gov to see what your withholding allowance should be.
  • Do you have savings growth? Life happens, and sometimes you need a safety net when it does. Often those who are struggling the most with finances are those who have little to no savings account, thus causing large negative effects when there’s an emergency. Even if you save $1 per day from now until the end of the year, you will have $180, which is better than nothing.
  • How’s your spending? People work hard for their money, but then spend it like its burning a hole in their pocket. It is important to know how you spend and how much you are spending so you can support your lifestyle and save enough for your dream retirement. Track your spending for the next 30 days and break every cent into categories. Once this is done you can determine how you should be spending moving forward and what areas you might need to reconsider spending.
  • Ready for holiday expenses? Even though holiday season is a few months away, now is the time to start depositing money so you don’t have to worry about what you spend when season comes around. You should create a holiday account and be depositing money into it all year so you can have a debt-free holiday all while seeing the smiling faces of your friends and family.
  • Is your potential savings interest maximized? Almost every bank and credit union currently offer interest on accounts that is fairly high compared to standard rates. You can research different banks and rates on sites like checkingfinder.com or www.bankrate.com to find one that suites you. Often, you will have to have to meet certain requirements such as minimum debits or balance. However, the interest rates usually make the hoops you must jump through worth it. Make sure where you deposit your money is FDIC or NCUA insured.

Worried about where you stand after your mid-year financial check-up? Reach out to your Financial Advisor and see the steps you can take to fulfill your 2018 financial goals. Happy where you stand? Explore your financial plans moving forward and what you need to do to set yourself up for your dream retirement!

Disclosure: This information is provided as general information and is not intended to be specific financial guidance. Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.

Content derived from https://www.nfcc.org/tools-and-education/money-management-tips/time-for-a-mid-year-financial-check-up/

The post Mid-Year Financial Check Up appeared first on Adult Financial Education Services.

Provided by: Adult Financial Education