Back to School on a Budget

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Summer is coming to a close, and back to school season is officially upon us.  Along with all the nostalgia and excitement this time of year brings, it can also get expensive – and fast.

“When did Crayola markers raise their prices? HOW much for a spiral notebook? Why do my kids need 12 of everything?!”

Here are some tips to help you stay in your back to school budget, and enjoy the last few weeks of summer.

1. Use the dollar store.

The dollar store is your friend! From notebooks and folders in every color, to pencils and loose paper – you can find 80% of the items your kids will need for the upcoming school year. Let’s all “just say no” to spending $9.99 on a box of crayons.

2. Budget and save in advance.

It’s easy to forget about the annual expenses associated with the back to school season. If you didn’t budget this year, start saving now for next school year. Put aside a little extra in your savings account on a monthly basis, and then use it next summer instead of relying on your credit card and racking up interest.

3. Have your kids save their own money for back to school clothes shopping.

New clothes and shoes are a very exciting (and very expensive) part of back to school shopping. Summer is the perfect time to teach your kids about the importance of saving, budgeting, and managing money. Whether it’s through extra chores, an after school job, or a lemonade stand, there are plenty of opportunities for your kids to earn money toward new clothes and shoes for the coming school year.

4. Buy in bulk and shop sales.

Stores like Costco and Sam’s Club offer great discounts when buying in bulk, and many other stores now offer lower prices when you buy in large quantities. Also, don’t forget to shop sales! It may be old school, but flipping through newspaper ads and store circulars that have coupons, can save you a ton of money when it comes to back to school shopping. Or sign up for emails for the stores you shop at – then use the e-coupons they send you.

5. Use a prepaid card.

Part of what makes back-to-school shopping so fun for kids is the opportunity to pick out items they love on their own. Give them easy access to back to school shopping money with a prepaid card, and a surefire way to make sure their spending is convenient for you as a parent, secure, and won’t break your budget.

Article Source: Naomi Anderson for CUInsight.com

 

Important Alert: Scammers Create Fake Emergencies to Get Your Money

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Scammers are now trying to trick you into thinking a loved one is in trouble. They call, text, email, or send messages on social media about a supposed emergency with a family member or friend. To make their story seem real, they may claim to be an authority figure, like a layer or police officer, and they may have or guess facts about your loved one. These imposters may insist that you keep quiet about their demand for money to keep you from checking out their story and identifying them as imposters. But no matter how real or urgent it seems – it’s a scam.

If you get a call or message like this, what should you do?

  • Check it out before you act. Look up that friend or family member’s phone number yourself. Call them or another family member to see what’s happening (even if the person who contacted you told you not to).
  • Don’t pay. Don’t wire money, send a check, overnight a money order, or pay with a gift card or prepaid reloadable card. Anyone who demands payment in these ways is always, always, always a scammer. These payment methods are like giving cash – and are nearly untraceable, unless you act almost immediately.
  • If you sent money to a family emergency scammer, contact the company you used to send the money and tell them it was a fraudulent transaction. Ask to have the transaction reversed, if possible.
  • Report the message to the FTC

Check out this short video on how the family emergency scam works and prevent it from happening to you.

If you feel that any of your First Financial accounts may have been compromised as a result of a scam, please contact our Member Relationship Center at 732-312-1500, Option 9 Monday through Thursday, 8:30am-5pm EST, Friday 8:30am-6pm EST, or Saturday 9am-12:30pm EST.

Article Source: Carol Kando-Pineda for the Federal Trade Commission

5 Staycation Ideas to Save Your Summer

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Let’s face it, summer looks a lot different than it did when you were a kid. You used to spend the entire school year counting down the days until the carefree fun of summer vacation. But now that you’re a responsible adult with a grown-up job, summer mostly just means your daily work commute is hotter than usual.

OK, maybe the situation isn’t quite that bleak. But if you’re not careful, summer will come and go before you get a chance to enjoy it. Even if you can’t take a week off or spend a lot on vacation this year, it only takes a little creativity and last-minute planning to map out a staycation worth remembering. If you need a little spark of relaxation inspiration, these five suggestions may be just what you’re looking for:

Book a night at a fancy hotel in town. Yes, luxury has a price tag, but hey—it’s just for one night. Sometimes it’s worth the extra money to pamper yourself. And since you’re staying close to home, think about all the money you’re saving on gas and travel expenses! Want to make the most of your five-star staycation? Check in as early as possible and take advantage of every complementary service the hotel offers.

Take a tasting tour of your city. It’s easy to settle into a routine of dining at your favorite restaurants, so why not break out of that rut and spend an entire day expanding your palette? The beauty of this culinary adventure lies in its flexibility. You can plan your itinerary or play it loose and go wherever your taste buds take you. Start with an early breakfast and end with a late-night snack.

Spend all day in bed. How many times have you started the morning by cursing your alarm clock and wishing you could stay under the covers all day long? Here’s your chance to make those lazy dreams a reality. Stack your favorite books and magazines on the nightstand, queue up your Netflix watchlist, and keep your go-to takeout restaurants on speed dial. You’re about to take your day off to the next level.

Rent a convertible and take the scenic route. Sometimes you want to answer the call of the open road, but it’s hard to make travel exciting in the same car you drive to work every day. So, add a little fun to your staycation plans by renting a sports car (preferably a convertible) and cruising around for the day. If you have a specific destination in mind, that’s great. If you don’t, that’s even better. The magic is in the journey. Not sure where to find scenic routes near you? Download the Round app for expert recommendations.

Unplug and get off the grid. We saved this one for last because, depending on who you are, this suggestion can be exhilarating or terrifying. Since we’re talking about shutting off your mobile phone and unplugging from social media, we understand you may need to start slowly. Use a resource like AllTrails.com to find the nearest hiking or walking trails, and spend the day exploring the great outdoors. The fresh air, exercise, and lack of email will do wonders for your body and your mind.

Whether you pick one of these ideas, find a way to do them all, or come up with a fresh staycation of your own, the most important part is permitting yourself to have fun. Even if they’re only for 24 hours at a time, vacations (or staycations) offer benefits that can make every area of your life more enjoyable.

How to Save $1,000 by the Holidays

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Yes, it’s still hot outside and school hasn’t even started yet, but the holiday season is coming. Thanksgiving is roughly four months away, which means if you want to pay cash for those Black Friday bargains instead of charging up your credit card balance, you need a game plan.

The average American spends $1,000 on Christmas gifts. That means if you haven’t started saving yet, you will need to put away $250 per month to make that goal. It might sound like a lot, but there are some tricks that can help you gift yourself a debt-free holiday while making your family’s dreams come true.

Adjust your spending. Sure, this one is obvious, but without a plan it’s not going to happen. Don’t just tell yourself you’ll spend less. Find places where you can trim a little and stick to it. Buy whole foods instead of pre-cut veggies or processed foods. That could save you $50 or more per month from your grocery bill. Also, take your friends and co-workers up on their offers of free zucchini and cucumbers from their gardens. You could also trim $25 from your entertainment budget and $25 from clothes. Put $25 worth of items you don’t need back on the shelf during one Target run, and you’ve just saved $125 for the month.

Increase your income. Summer is ripe with ways to make a few extra bucks. Have a garage sale. Start a pet-sitting or houseplant/garden watering service for family and friends on summer vacation. Finally, open that Etsy storefront you’ve always talked about.

Start your holiday shopping now. If you take advantage of bargains throughout the year, you won’t be pressured into spending $1,000 all in one month. Buying a gift on sale now is even more helpful to your budget than saving money to buy something full price in December.

Article Source: Heather Anderson for Financialfeed.com

4 Ways to Save Money on Meals While Hosting Out of Town Family

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When you live on the other side of the country from your extended family, it’s a special treat when they come to spend a few weeks with you. Not only do you get to spend quality time together, but you get to show them your neck of the woods and play the role of tour guide too. Hosting and introducing the family to your state or region may be fun, but it can also be really expensive — especially if you’re used to living frugally.

If you have out-of-town family visiting this summer, here are some practical ways to address the financial strain it might create without letting it stress you out or take away from enjoying the time you have with your guests.

1. Start anticipating and stocking up on foods they enjoy.

Everyone has their own favorite go-to products, brands, and eating habits. While your guests may politely eat your organic, all-natural peanut butter, they may be secretly wishing they’d brought their own stash of JIF. It can get expensive to purchase items you don’t normally use just to have them in stock for your guests, but it’s also a part of being a good host who tries to make visitors feel as at home as possible.

To prepare, ask them to get you a list of their favorite snacks and staples and start looking for sales, and digital and print coupons. Purchasing these items on sale will put less stress on your grocery budget while still accommodating your family members’ taste buds.

2. Eat at home as much as possible.

It can be tempting to get carried away by taking everybody to all your favorite restaurants around town. After all, it’s a special occasion! Unfortunately, this can also derail your usual eating out budget much faster than a slightly higher grocery bill, even if you split the tab. The first tip is to make meals at home several nights a week and keep eating out for on-the-go weekend tourist activities. Even if you don’t enjoy cooking or think you’re good at it, choose the few things you do well and your efforts will shine. Grilled burgers with unique toppings or homemade pizzas are a few fun, cost-efficient options.

When you do eat out, focus on restaurants that double as entertainment or ambiance – something memorable, not just your everyday chain restaurant. Since these types of places tend to be more expensive, keep your eyes on Groupon, other deal apps, and local coupons that can save you money. If you haven’t already, set your favorite site’s preferences to receive email alerts for restaurant deals.

3. Use your dinnerware.

It’s easier to grab a pack of paper or plastic dinnerware when you’re feeding a few more mouths, but the costs add up fast too. If there’s ever a time to use your own dishes, it’s when you have guests. After all, guests are usually eager to pitch in and help clean up the dishes or at least load the dishwasher.

4. Stick to your routine.

Your guests don’t expect you to prepare a four-course meal for them every day they are visiting. They probably don’t eat like that at home, and neither do you. For instance, if you tend to eat light breakfasts, offer your guests options, but don’t feel like you need to prepare a breakfast buffet every day. Instead of assuming they expect large breakfasts or dessert every night, take the pressure (and expense) off by sticking close to your usual meal routine.

Entertaining out-of-town family is a blast, but it doesn’t have to blow your grocery budget or go against your frugal kitchen habits. Expect to spend a little more while your guests are in town, but prepare ahead of time, look for deals, and stick to your routine in ways that are both manageable and courteous. Happy hosting!

5 Summer Travel Safety Tips

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We’ve got about one month left of summer. Time flies when you’re having fun doesn’t it? If you’ve got an upcoming vacation planned, don’t miss these essential summer travel tips.

1. Make copies of important travel documents.
Make copies of your travel itinerary, health insurance cards, credit cards, and passport. Then give the copies to someone you trust in case of an emergency. It’s also smart to email any important information about your trip to yourself before you leave so it’s easily accessible if something gets lost, especially if you’re traveling overseas.

2. Don’t overshare on social media.
Not only do you not want every person with access to your social media accounts to know that you’re away from home (hello, burglars!), you also don’t need your followers (or lurkers) to know where you are in real time. This can invite all kinds of unwanted attention and danger. You should also avoid posting any pictures with personal information, like your boarding pass or passport, to social media. These photos might look fun on Instagram, but they also give cyber predators easy access to your secure data.

3. Don’t use public Wi-Fi to access financial information or make online purchases. It’s very easy for hackers to steal information from public internet servers. Furthermore, you should never leave your laptop or cell phone in a vulnerable position (i.e. at the breakfast table while you run to the bathroom or on your beach chair while you take a dip). This might seem like common sense, but it’s easy to let your guard down when you’re on island time!

4. Use a prepaid debit card specifically designated for traveling. A prepaid travel card will help you stay within your budget while you’re on vacation and keep your personal information safe. Prepaid travel cards, are not linked to your checking or savings account, so if your card information is compromised, you’ll have less of a mess to clean up down the road. Another bonus: you won’t have to worry about foreign ATM skimmers and various other threats to your financial data while trying to relax on vacation.

5. Research, research, research. It’s important to learn the ins and outs of your destination and do some digging to find out what areas are safe and what areas should be avoided.  A good place to start? Read hotel reviews online to see what neighborhoods and destinations other travelers recommend. If a location seems unsafe or makes you feel uncomfortable, you should leave right away. Download the State Department’s Smart Traveler app (travel.state.gov) and sign up for the State’s Smart Traveler Enrollment Program (STEP), which allows U.S. citizens who are traveling abroad to enroll their trip with the nearest U.S. embassy or consulate.

Above all – enjoy your trip and have fun. Just be prepared before you go and plan ahead!

Article Source: Naomi Anderson for CUInsight.com