Investment Money Ideas for Families

September 24, 2021 by Leave a Comment

Today, I’m sharing parenting tips on investment money ideas. Money can be tight for many families. Raising children isn’t cheap.  And, all parents want to create a brighter future for their family. Investing your money is one option to consider if you want to improve your financial future.  Most importantly, investing your money will help give your kids the best possible start in life.

 

 

investment money ideas

 

 

Many people think that investing money is for the rich. This couldn’t be further from the truth.  Furthermore, there are many investments available for beginners.  Those investments can be a great way to grow your money. And, you don’t need a million dollars to invest either.  A little money each month will start a nice investment portfolio for your family.  

Investment Money Ideas

 

Yes, investing can be risky, but there are ways to mitigate the risk while also giving yourself a chance at a significant financial upside. However, if you are going to invest in order to boost your family’s finances, you need to diversify your investment portfolio. Putting all your eggs in one basket is setting yourself up for disaster.

 

So, there are lots of different ways to invest, and it doesn’t have to involve investing large sums. Simply setting aside a little money each month and investing it should help you to eventually build  an investment portfolio that’s continually growing. Of course, if you’re investing for the good of your family’s finances, you should stick to safe investment options.

 

Investment Money Ideas for Self-Directed IRA

 

For example, if you’re focused on creating a diversified and varied way of investing, consider a self-directed IRA. These investment vehicles allow you to spread your investment across a range of alternative investment types. Find out more about them below: 

 

 


Infographic designed by: https://www.accuplan.net/

 

Finally, do a little homework or better yet talk to a financial planner.  They will be able to answer any questions you may have.   

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5 Financial Planning Tips Parents Should Consider

September 24, 2019 by Leave a Comment

Proper financial planning can save you a lot of stress and headaches.  Taking the right financial planning steps can also help protect your family.  Furthermore, it can provide a secure and stable future. Most parents know how to save money and pay down debts.  But, if you really want to empower yourself and provide your family with long-term financial peace of mind, consider these financial planning tips:

financial planning tips

 

Shop Online for Your Life Insurance Policy

As HavenLife describes, a life insurance policy is “a contract between you and a life insurance company that helps protect your loved ones financially if you pass away.”  Fortunately, the task of buying life insurance is made simpler by shopping online.  You can compare rates and purchase a policy without leaving the comfort of your home.  And, you use insurance calculators to figure out exactly how much coverage your family needs.  Finding the right life insurance can provide peace of mind.  It can also provide a huge relief for your family during a difficult time.  For example, it can help pay funeral expenses, medical costs, and even cover lost income.  Also, consider taking care of other estate planning steps for your family.

 

Earn More Money With Your Emergency Fund

Savvy parents know the importance of savings.  You can use online calculators to determine how much you need to save for common family goals.  Your goals can be raising a baby to purchasing a new car.  In addition to saving for the expected, you should also be saving for the unexpected. Having enough saved for up to 6 months of expenses in an emergency savings fund can eliminate stress from unexpected illnesses or other financial burdens.  So, consider keeping your money in a high-interest savings account.  Furthermore, you should understand how interest on savings accounts can benefit you.

financial planning tips

 

Start Saving for Your Retirement Before College

Recent surveys show that more than half of all parents in America are saving for their kids’ future college tuition before they begin saving for their own retirement.  While saving for college can provide stability for your children, they may end up having to support you during your retirement years.  So, do yourself and your children a favor by saving enough to keep yourself financially secure during retirement.

 

 


 

 

Invest in Real Estate for Your Children’s Future

Buying a home can come with some pretty incredible perks.  For example, tax breaks, consistent housing costs, and equity.  These perks can benefit your children as well.  If you can swing it, an investment property can be an even smarter way to provide financial security for your family. In fact, buying an investment property first can help you create a passive form of extra income.  It can be used buy a first home or pay off debts.

 

Consider Padding Your Income With a Side Gig

If investing in real estate is out of the question right now, there is still a fairly simple way to add some extra income to your family’s budget: Get started with a side gig. Second jobs are becoming increasingly popular as an added source of income.  That’s because working a second job typically involves flexible hours.  Also, many jobs can be performed remotely which can be beneficial for time-strapped parents. If you want to bulk up your budget, think about driving for a rideshare company, taking online surveys from home, or searching for other side job opportunities.

You’re used to going the extra mile to provide a life of happiness and health for your family. Do the same with your financial planning by taking some extra steps.  With a little more effort and implementing a few of these financially planning tips, you can ensure a brighter financial future for your children and your family.

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15 Ways To Make Extra Money From Home

March 18, 2017 by 9 Comments

Today, I’m sharing financial tips on ways to make extra money.  Looking for an avenue to make a little extra money?  Corporate America or just the work force period, is not for everybody.  Additionally, many moms don’t want to leave their children to work outside the home.  But, you can generate an income working from home.

The first step is to think about your natural talents.  Once you zoom in on your talents, start thinking about how you can make a profit from them. 

 

 

tips to make extra money from home

 

Ways to Make Extra Money:  

 

  1. Crafts – First, if you are crafty get out your glue gun and other materials to make wreaths, center pieces, signs etc.  They are great sellers.
  2. Baked Goods – Additionally, if you love to bake start creating cakes/breads/cookies and or cupcakes.  They are great sellers.  Cakes for parties are always in demand.
  3. Sell Books  – In spite of modern technology, people still want to hold a book.  Especially, books they can get for a bargain.  Hardback, board books, or paperback are all options.  Love stories, mysteries, children’s books, and biographies are in demand.  They will sell, I’m a buyer.
  4. Refinish Furniture – Turn old furniture into treasures.  Sell them on Craigslist or at flea markets.
  5. Sell on e-Bay – Furthermore, children’s clothing is  perfect for the e-Bay market. You can get free boxes from e-bay to help curb you expense.  I sell on e-Bay occasionally.
  6. Set up a booth at a flea market – Turn someone else’s junk into someone else’s treasure.  House hold items, old tools, dishes, kid’s toys are great sellers.
  7. Sell garden vegetables and preserves – Furthermore, farmer’s markets are a great place to sell your backyard vegetables, flowers, sauces, jams and jellies.
  8. Crochet or knitting – Beautifully created crocheted items like baby blankets, hats, gloves, scarfs etc. are money makers.  Baby blankets are great baby shower gifts and big sellers.
  9. Digital Scrapbook Sheets –  There are tons of scrap bookers out there who love the digit pages versus paper from big box stores.  Downloading the pages eliminates driving to stores.
  10. Save seed from you heirloom garden – If you garden, purchase heirloom seeds.  Save the seeds so you can sell them.  Design a cute seed packet so you can wow your customers.
  11. Teach a class – Additionally, if you’re good at photography, refurnishing furniture, crocheting etc., teach an adult class in your local community or on-line.
  12. Become a dog walker – There are elderly dog owners or professional people who will pay to have their dog walked during the day or evening.  Start advertising.
  13. Sell your jewelry – People love unique pieces of jewelry.  You can sell on e-Bay, Etsy, flea markets, or set up a web site.
  14. Clothing for dogs – If you can design and can sew, knit or crochet, sell your designs to dog parents. They love to dress up their little darlings too.
  15. Dog Treats  – Last, make and sell healthy dog treats to pet parents.  Create a cute packaging concept and sell them on-line or locally.

So, we hope that you liked our tips on how to make extra money from home.  Finally, get creative and come up with a plan.  Plans help you to set goals.  Start by setting a date on which you want to start selling. Work towards it. Women do it every day, you can do it too.

 

 

 

 

 

Filed Under: Empowerment, Finances Tagged With: , ,

5 Reasons You Should Not Loan Friends Money

March 15, 2017 by

 

reasons you should not loan friends money

 

Would you lend a friend $5,000?  How about $3,000? Frankly, I don’t think it’s wise to lend family or friends money.  I’ve loaned friends money twice in the pass.  However, I was repaid.  But, it wasn’t thousands of dollars like this request.  To be exact, I helped a friend out of a bad marriage.  Another time I helped a friend get back on her feet after she put her mother in a nursing home. The second friend tried to make it a habit, however, I ended that.

Why am I leery this time? Could it be because it’s a male or the size of the request? To be honest, I have a hard time with a men asking women for money. Especially large sums of money. So maybe it’s both. When he asked me to lend him the money, I really wanted to ask if he saw a Bank of Rhonda sign in my front yard. What irritates me is this person lives in a 4,000 square foot house, drives a luxury vehicle, but he is unable to pay his bills.  Furthermore, did I mention he took a vacation overseas?

Do you know the quote: “I don’t loan money because it causes amnesia.”  – Unknown  Yes, I love it and here’s a few other reasons why you should not loan friends money.  This includes family too:

1.  It’s rare that family or friends will repay the money – Friends and relatives believe that they really don’t have to pay you back because of the friendship or the fact that you’re family.  When you consider reasons why you should not loan friends money, remember this one.

2.  Help people don’t enable them – Offer to help the person with their finances rather than loaning them money. It may not be want they want, but it could be what they need.

3.  Loaning money can jeopardize your relationship – One of the biggest reasons you should not loan friends money is because it ends relationships if the money is not repaid. Assess whether your relationship is more important than the money.

4.  If the priorities are wrong, it won’t be a priority to repay you –  If you need more reasons to not loan friends money, think logically.  If a person is not paying bills timely or not being financially responsibility, you won’t be a priority either.

5. Your finances could be harmed –  One of the biggest reasons to not loan friends money is financial harm. You could use that money for emergencies or to have a saving for future hardships.

Most people can’t afford to loose money.  So, assess your relationship and decide whether money is worth ending your friendship over.  Friendships end because money is not repaid.  As  result, our reasons you should not loan friends money should be considered.

Filed Under: Life-Thoughts Tagged With: , , ,

15 Signs That You’re In Debt

April 26, 2016 by 1 Comment

Are you swimming in a sea of debt?  Do you spend more time trying to figure out how to pay your bills than you do relaxing and enjoying life?  If so you may be swimming in a sea of debt.   Living beyond your means can cause stress, deception, and robbing Peter to pay Paul.  Here’s a few signs that you’re in debt, and you need to assess your spending habits.  It may be impossible to live debt free, but curbing your spending can be empowering.  

 

debt elimination

 

 

  1. You live from paycheck to paycheck.
  2. Your savings account has a zero balance and your checking has a minus figure.
  3. You can’t remember the last time you paid your bills timely.
  4. Your friends always foot your bill on Girls Night Out and you’re comfortable with it.
  5. Bill collectors are calling and you tell the kids to tell them you’re not home.
  6. Hiding from family and friends because you haven’t repaid them.
  7. Arguing with your husband or significant other about money or lack of money.
  8. You have lost all hope of having an emergency fund.
  9. Your blood pressure numbers are higher than your credit score.
  10. Watching the Griswolds in National Lampoon’s Vacation is as close to a vacation as you will get.
  11. Ignoring health symptoms because you don’t have health insurance and can’t afford the bill.
  12. Thinking it would be easier to get to the moon than save money.
  13. You and the kids look like a million dollars, even though your accounts are set to zero.
  14. If your children asked for financial advice you wouldn’t be able to guide them.
  15. You search your cup holders, sofa and the washer for change.

Last, along with advice from a financial planner, my post 15 Tips To Save Money, has great tips on how you can take small steps to start saving money. It’s never too late to turn your finances around and start climbing out of debt. Additionally, here are a few others tips:

  • Become committed to leave your debt behind and make better decisions.
  • Check out Dave Ramsey’s book Your Money Or Your Life.
  • Stay on track, and stay focused on the signs that you’re in debt.
  • Get to the bottom of your overspending. You could possibly be trying to fill a void with your overspending.   

 

 

Filed Under: Empowerment, Finances Tagged With: , ,

6 Tips To Save On Travel Food Budgets

August 25, 2015 by

Today, I’m sharing travel tips on how to save on travel food budgets. When I’m traveling with my family, I try to be frugal and stay within my budget.  Being frugal doesn’t mean that you can’t have a good time. 

So, my grandchildren like snacks and sandwiches.  But, I’m also feeding adults who need meals that will fill them up.  Eating 3 meals and snacks out for 7 days can be expensive for a family.  So, I have a grocery store budget and an eat out budget. 

 

travel food budgets

 

 

1.  Check Out Resorts That Offer Kitchens/Kitchenettes  –  First, I always book accommodations that have a full or partial kitchen. This allows me to cook meals and save on food expense.  Having a kitchen is great, especially when I’m traveling with my grandchildren. It’s difficult to get them up and out for breakfast and sometimes lunch.

2.  Look For Discounts in Travel Guides or Online – Second, I research local restaurants wherever I’m staying. And if I decide that I would like to check out a few of them  I search for a coupon or discount.

3.  Take Advantage of Happy Hour –  So, if you want to eat light check out restaurants that have happy hour.  I have taken advantage of specials on wings, burgers, stuffed mushrooms etc. during happy hour.   It’s a great way to have a few adult beverages on the cheap too.

 

 

travel tips

4.  Find The Local Grocery Store  – Next, I purchase snacks, drinks, bottled water and any items that I need for planned meals.  After checking in, this is the first task on my list. I’m able to purchase drinks and food for the beach, snacks, bagels for light breakfast, local fruit etc.  I save a ton of money by taking this step.  Sometimes we want to sleep in or just be lazy, but the kids are always hungry, so I prepare.

5.  Check Out The Resort/Hotel Welcome Package –  Finally, I visit the hotel or resort concierge and ask for information on local activities or restaurants. They normally have a welcome package which contains coupons for local attractions and other valuable information.  Take the coupons into consideration, it will help with your budget.

6.  Look For Resorts/Hotels That Offer Free Activities – Most importantly, I look for resorts or hotels that offer water slides, lazy rivers, or firework displays.  In addition to the beach, I like to have nearby activities for the kids.  I search for coupons for miniature golf, amusement parks, seek out free concerts.  Furthermore, I use the savings for ice cream treats, Sno-cones etc. while we’re out and about.

Finally, don’t wait until a month or two before you arrive at your vacation destination to start saving. You should be saving all year for your vacation. This takes the stress off and any worries that everyone won’t be able to have a good time because of a cash shortage.

Additionally, you may also like 15 Ways You Can Save Money to help with your travel food budgets expense.



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