‘Budget and Saving Tips’ Articles at Mumwrites

Money Matters + Clay Advisors: 5 Tips On How To Get Better At Managing Your Money

01.08.2020 by mumwrites // Leave a Comment

The beginning of the year is always the best time to evaluate your spending habits and money management skills, as well as formulating ways and making plans to get better at managing your finances. This is most ideal especially if you have plans for the year that would require spending or saving up big amounts of money and/or investing your hard-earned money.

Create A Budget

Creating a budget and making a list of all your incomes, savings, and expenditures is a fool-proof way of tracking your finances. It primarily serves as a record of where all your money went and gives you a clear picture of your financial situation. This written record will allow you to better monitor your finances, thereby making money management a whole lot easier.

Plan Those Purchases

Whether you have major purchase plans for the year, like buying a house or a new car, or simply doing the groceries weekly, it is best to plan your purchases ahead in order to see how you can regularly set aside a fixed amount for the said expenses. Creating such will also allow you to schedule major purchases around those dates when you are expecting bigger income or additional bonuses while relegating smaller or regular purchases on dates when smaller amounts of money are coming in.

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Money Matter: Personal Items That Do Not Need To Be Expensive

08.22.2019 by mumwrites // Leave a Comment

You may already be earning money, but this doesn’t mean you should buy the most expensive items to prove you’re a responsible adult. It’s more responsible to work with a budget and be aware of your spending limits. You don’t need to prove anything to other adults. Those who have been in your current situation understand that there’s a learning curve and that you have to slowly work on your belongings before you can confidently say you’ve got everything figured out.

With that said, let’s look at some items you can buy as part of your adult life without necessarily costing an arm and a leg.

Toners and Makeup Pads

When you look at products such as face toner online, one of the first things you’ll notice is the range of prices. There are toners that are inexpensive and there are toners that come with a hefty price tag. The truth is, you don’t need the most expensive toners to get the job done. If you look carefully at the ingredients list, you can find a toner that works especially for your skin type without it ruining your budget. The same thing can be said about makeup pads. There are makeup remover pads you can buy for a good price, while those from well-known makeup brands can cost a little more. The price difference can be because of the technology they used to create the pads, but even a simple cotton ball can work if you already have a good toner to begin with.

Dinnerware

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Mum Money Hacks 101: Creating An Allowance System For Your Kids

08.01.2018 by mumwrites // Leave a Comment

tips and tricks, money matters, money talks, parenting tips, budget and saving tips, budget saving tips for families — Jordan Rowland

The new school year is in full swing, and if you’re like most Pinoy mums, you probably just finished getting all of your kids’ school supplies, uniforms, and have finally chosen the best tuition fee payment plan to fit your budget. But one thing that you may have to sort out is your child’s allowance.

Indeed, one of the questions that come up these days in parents’ minds is how much baon should you give your kids. If they’ve started asking for some money to spend at the school canteen, here’s what you need to know to create an effective allowance system for your children.

When to start giving baon

Last year, your child may have been content bringing some snacks and a packed lunch to school. But if he or she suddenly asks for an allowance this time around, it may be because your child has seen a classmate paying for food at the canteen. At around the age of 6, kids become more aware of the concept of money and purchasing. It’s essential that they have a good grasp of the basics so when they grow up, they can make good choices when making important financial decisions, such as dealing with credit card debt. Thus, starting them early with an allowance would be good practice for the future.

How will you know if your child is ready to receive an allowance?

If your child can do simple addition and subtraction or mental math, you can give enough money to buy a snack or a sandwich for recess. Check out the school canteen to know the types of food and the corresponding prices, which will help you determine how much baon to give your child. [Read more…]

Tips + tricks: Money-Saving Car Leasing Tips

04.27.2018 by mumwrites // 2 Comments

money matters, money talks, tips and tricks, budget and saving tips, cars — Jiafeng Wang

Leasing cars is not the cheapest way to drive an automobile, but it can be the best option in certain cases. For example, if you intend to upgrade to a better model frequently, you would be better off leasing a vehicle as opposed to purchasing and selling them. There are several tips and tricks you can use to lower the cost of your car lease. Here are some of the most important:

Negotiate the Price of the Car as if You Were Going to Buy It

Leasing cars can be an expensive option for those who don’t know how to negotiate. You should approach the price negotiation as if you were going actually to buy it. It is common knowledge that you would have less leverage when leasing a car, and this might affect your bargaining power. For this reason, you should only let the dealer know that you intend to lease after you arrive at a suitable purchase price. This way, you will be able to get the lowest price they can afford to give. Also, you should get quotations from reputable dealerships such as Intelligent Car Leasing before making your final decision.

Negotiate the Mileage Limit, Down Payment, and Purchase-option Price

Most car salesmen are likely to focus on your monthly payments, and this can distract you from the down payment. It is important to make sure you pay as little money as possible upfront since this can lead to significant losses. In case the car crashes or gets stolen, you are likely to end up with a lot of money lost, and you will also not have a car.

When leasing a car, you will also have to agree on the mileage limit. If you are always on the road, you should go for a higher limit as this will be cheaper than paying extra for exceeded miles. If you have to prepay, you can have them refund you for any additional miles that you didn’t use. Also, find out if the dealership offers a purchase-option price. This can be advantageous if you choose to buy the car at the end of the lease.

Buy GAP Insurance

Guaranteed Auto Protection (GAP) insurance will cover your costs in case your car gets totaled before the end of your lease. The insurance will pay the difference between your loan and the value of the vehicle. It is important to note that GAP insurance will not cover your costs if you lose your job or get disabled. [Read more…]