Wedding Cash

In a previous post, I discussed the benefits of gifting newlyweds with cold, hard cash. Regardless of one’s financial status, geography, age, gender or creed, you really can’t go wrong giving money as a wedding gift. However, there are some ways that are better than others to present your cash gift. For example, unless you are very close to the couple and are known for being a prankster, it is not recommended to place a wad of cash in a gigantic box filled with tissue paper. While it may be funny watching the recipient tear through a mound of tissue … Continue reading →

Cash is King

In the world of wedding gifts, cash is king. A new study reveals that cold, hard cash is the ultimate wedding present, and not just for the recipient. People giving money to a newlywed couple don’t have to worry about including a gift receipt. In addition, they don’t have to be concerned about it being the wrong color, size or worry about whether it will match the bride and groom’s style. Still, there are some challenges that come with gifting money as a wedding gift. At the top of the list is amount. There is a myth that a magic … Continue reading →

Start Saving Now

I love shopping. One of my favorite book series is the Shopaholic books by Sophie Kinsella. When I worked as the senior community moderator for iVillage’s Money Channel, one of the more popular message boards was for compulsive shoppers. I have lists in Amazon for myself and each of the girls filled with things I want to buy. Saving is better. We should have three to six months’ salary in savings in case of an emergency. There is nothing quite as satisfying as looking at a large bank balance. Saving isn’t always easy. If you’re living paycheck to paycheck and … Continue reading →

Ways to Save: Low Risk Mutual Funds

Are you looking for a way to save that is relatively low risk but will usually result in a small and steady gain over time? Low-risk mutual funds might be for you. What is a mutual fund? Many of those new to investing get worried about buying stocks. Aren’t stocks risky? Well, it depends on what you buy and how you buy them. Mutual funds invest a lot of money in stocks, but this money is pooled from many, many investors. This means that you have your money invested in a very small amount of many different stocks. It also … Continue reading →

Start Budgeting Now!

Budgeting is long time consuming process, especially when you first begin. It can be emotionally draining because it forces you to evaluate how you are spending and saving money. Many people dread budgeting because it makes them feel restricted and poor. Others may not budget because the entire thing is so overwhelming that they do not know where to begin. While it may take a little bit of work at the beginning, budgeting really is not that much more time consuming than balancing your checkbook. It allows you the freedom of how and when to spend your money. You will … Continue reading →

Our Savings – Short and Long Term Funds

Hubby and I used to have a savings account many years ago but like many families, tapped into it and never refunded it. Those days are gone. Now, as part of our family money makeover, a little bit of our monthly income goes into a savings account, detailed on paper, broken up into different categories. Our account includes having a short term emergency fund, a longer term fund and a savings account for budgeted items. We want the long term emergency fund to grow until it reaches six months worth of expenses for our family. We won’t touch it unless … Continue reading →

Saving Early Beats Saving Often

Here’s a little demonstration I like to bore my children with from time to time. It has to do with the importance of saving early. Here’s how it goes: Jane and John are both savers. Jane starts at age 20 and invests $1000 a year for 10 years and then stops contributing and lets her savings grow for the next 25 years. John waits to start saving at age 30 but invests $1000 a year for 25 years. Both earn the same, 6% rate of interest. Who ends up with more at the end? Since I’ve already told you that … Continue reading →