Archive for Gifts

SAVING ON MOTHER’S DAY

8 Mother’s Day Ideas that Will Save You Big Bucks!

woman reads Mother's Day cardQ: I love showing Mom how much she means to me, but with the money spent on a pricey bouquet, a nice gift and dinner out, I’m looking at an awful lot of spending! Is there any way to give Mom a Mother’s Day to remember without it costing a small fortune?

A: If you find yourself overspending on Mother’s Day, you’re not alone. The average American will spend close to $200 this month, all aimed at making Mom feel special. It’s wonderful to show your love and appreciation, but you don’t need to blow your budget to make that happen.

Read on for some low-cost ways to show Mom how much you care. 

Give Mom a stay-cation

Give your mother a day off – at home! Make arrangements for her to be completely free of all housework on her special day. There’s no laundry, cooking or cleaning for her today! Offer to assume the responsibilities of all her daily chores, being sure to tidy up as per Mom’s standards and to prepare all her meals. You can create a homemade gift card entitling the bearer to one full day of all household chores, and present it to Mom in the morning.

Give your mother a small vacation – she deserves it!

Go out – for free

Search your neighborhood forums for local attractions that don’t have an admission fee. You might get lucky with an interesting museum or a beautiful overlook point that’s just a small drive away. Otherwise, you can prepare a picnic lunch, bring along some balls and Frisbees, and spend the day at a scenic park together with the whole family. Pack a portable grill and some hot dogs to make it a full-day event!

Make some memories

Celebrate Mother’s Day with the most enjoyable trip of all: down memory lane. Spend some time gathering and editing the best home video footage you can find. Include major family milestones and memorable events and/or vacations. Put it all together and present your gift to Mom on her special day. Then, sit back with the rest of the family and reminisce togethelr about the good old times.

On a similar note, you can give Mom the gift of priceless memories by creating a family scrapbook. Use patterned cardstock, your best family photos, ticket stubs and other fun mementos to help Mom remember old times. If Mom’s a grandmother several times over, you can even have each family member – or each grandchild – design their own page for Grandma.

Look for bargains online

If you can’t get around spending money on Mom’s gift, search for seasonal discounts online before spending a penny. You’ll find excellent Mother’s Day deals on Amazon, Coach, Kohl’s and other major retailers, sometimes as steep as 84% off retail price.

Best Buy puts a twist in the discount game by rewarding you for money you spend on Mom. Choose something from the site’s “Top Tech for Mom” section and you’ll get a savings coupon that’s valid until late June – just in time to help you save on a gift for Father’s Day.

Have a family movie night

Spend a relaxing day at home binge-watching Mom’s favorite movies together. Prepare lots of fresh popcorn and all of Mom’s best snacks, pour her a glass of her favorite drink, and get comfy on the couch. Remember: Mom is in charge of the remote! It’s her day, after all.

Look for restaurant deals

It’s always cheapest to eat your own home-cooked food, but if you know your mom is looking forward to a dinner out, look for local restaurant deals before deciding on a place to eat. Lots of eateries offer special Mother’s Day deals or even free menu items just for moms.

To keep costs down while still enjoying takeout food, order your dinner in. You’ll save on beverages and service fees without the hassle of preparing your meal. Be sure to set the table with Mom’s best china – and to do the dishes when you’ve finished eating.

Go easy on the flowers 

Flowers are always appreciated, but they can cost a bundle! Save on Mom’s bouquet by shopping around for the best Mother’s Day deals. Save even more by purchasing your flowers in the supermarket and arranging them in a vase or pitcher you already have in the house.

Game night

For a fun family activity that puts the focus on Mom, turn your favorite games into Mother’s Day material. Love trivia? Put together a list of random questions about Mom’s life, hobbies and daily schedule and play a super fun game of Trivial Pursuit. Pass around the most hilarious pictures you can find of Mom and let everyone take a stab at guessing when and where they happened. Get creative and host the family game night that Mom will always remember.

Showing Mom how much she means to you doesn’t have to strain your budget at all. With a bit of research and proper planning, you can give Mom some priceless memories she’ll cherish forever.

Want more ideas like this? Connect with Section 705 FCU on Facebook, Instagram, Twitter, or YouTube!

SOURCES:

http://www.frugalfanatic.com/save-money-on-mothers-day/
https://www.google.com/amp/amp.timeinc.net/fortune/2016/05/08/mothers-day-deals
https://www.grandparents.com/money-and-work/saving-and-investing/monday-money-savers-mothers-day

How Not To Bust Your Holiday Budget

Christmas tree with presents underneath it

Holiday Budget Tips

According a T. Rowe Price survey, more than 50% of parents will aim to get everything on their kids’ wish lists this year. Many of these parents will be paying for these gifts for months, or even years, afterward.

There’s a better way, and it’s simple: create a budget, and make informed decisions about your spending before you hit the shops.

Short-term effects

Tipping your budget just a bit every once in a while isn’t a disaster. But the spending hangover many parents face after holiday shopping is too large to be easily forgotten.

Over half the parents surveyed will pay for their holiday gifts with credit cards. Just 61% of them plan to pay off their spending within three months, and 16% say they will pay it off over the course of six months or more. That’s half a year spent catching up on holiday spending!

Think carefully this shopping season before you drop another item into your cart. Is this gift really worth trimming your budget for the next three – or six – months?

Long-lasting effects

11% of parents use money from their retirement accounts, 14% have taken funds out of their emergency savings and 11% have taken out a payday loan.

While their kids may be delighted with their loot, parents can be paying for it for longer than they think.

Taking $500 out of a 401(k) at age 35 translates into giving up $6,000 that was earmarked for retirement. Parents are forking out additional taxes and penalties to gain access to the money, and are also losing the opportunity for that money to grow.

Life Lessons

There’s nothing quite as exciting as unwrapping a present. Kids wait all year for the holidays and as their parents, you want to make them happy. This is why 60% of the parents surveyed claimed they try to check off every single item on their child’s wish list.

Aside from the financial drain, purchasing every gift your kids have their hearts set on teaches them a host of lessons they’re better off without. Do you really want your kids thinking they can always have everything they want? Do you want them to feel that everything they own must always be the best and most expensive?

This holiday season, teach your kids that true happiness can’t be bought.

Be proactive

Try saving up for the holiday season throughout the year. While it may be too late for this year, it’s never too early to start thinking about next season. Sign up for our holiday club accounts, and put money aside each month!

Be an informed shopper this holiday season and your decisions will pay off in more ways than one.

Your Turn:  How will you fund your holiday spending? Do you plan to buy your kids everything on their lists? Why or why not?

Like tips like this? “Like” us on Facebook for daily financial advice!

SOURCES: