New dads and finances
Written on July 20, 2005 by Kevin.
Link: Slash High Electricity Bills
Link: How To Make Your Garage Sale A Success
Link: Developing a Family Budget
Link: Frugal Ways to Dine Out with your Family
Many financing books will flat out tell you to pay yourself first. This simply means putting a portion of your money into a savings account, stocks or other alternatives. This idea can also bleed over to the new child. Creating a saving account for a young child and contributing to it slowly will give you a safe place when your child grows older and you need a large amount of money for a car, wedding or other events. My father created a mutual fund account for myself and since then, I have been contributing to it. I believe these types of ideas also can help gear a child into a financial mindset which should help them succeed in the future.
Book Recommendation: Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
Thinking about my child's future, I have decided that all funds from advertisements will go directly to my child's savings account. This would include any money that I receive from ads, associate links or general donations. Hopefully I can give my child a good head start into financial freedom.
I'd also recommend...make your own baby food. both of my kids hated jarred baby food, so they ate what we did. and now both eat everything I put in front of them. I recommend, the book Super baby food.
Written by Gina on Jul 20, 2005
Besides being more healthy, what are the financial benefits of making your own food? Do you have idea on what type of savings you made? Thanks.
Written by The Dad to Be on Jul 20, 2005
I just came across your blog on BE. My husband and I are trying to become pregnant with our first child. This is one of the first blogs I've come across written from the expectant fathers perspective and I just wanted to tell you how interesting I thought it was.I'm afraid that since I don't have children yet, I can't help you with the money saving tips. But my friends who have babies have all said that you really don't spend more (as they expected) when you have a child, you just spend differently. For example, you aren't going to be going out to dinner on the weekends, you're staying in with the baby. You aren't going to movies or to a bar, you are staying in and spending that money on diapers and formula and such.
Written by PaintingChef on Jul 21, 2005
re: Baby Food. Giving your baby a portion of what you are eating is only adviseable if you eat healthy. If you eat at McDonalds, please don't share. Be mindful of the various foods you introduce at certain ages due to allergy and other concerns. re: garage sales. As an avid garage saler, most of the linked sale tips were common sense or just plain amusing. 1) Telling business associates about the sale? Selling coffee and donuts? Put up signage a week in advance? No, no, no. Garage sales are NOT about making lots of money. If that's what you want, sell on Ebay. Garage sales are about ridding your home of junk and getting a little back in the process, while using up as little of your time as possible. Be open 8 a.m. to noon and be done with it. Let your kids sell donuts if it will keep them occupied. 2) Deal with customers "promptly at opening time?" Huh? "Customers" will begin showing up 30 minutes before "opening time." Have your stuff out by 8 a.m. like every other garage sale. 3) Forget price tags, unless you mean to stick by them (lots of people haggle). 4) Before a garage sale, take your clothes and toys to a baby thrift store to trade for store credit. They'll only accept good quality stuff -- but, if you visit several stores, you'll find they have slightly varying standards. 5) Take your garage sale leftovers to a nonprofit thrift store and get the tax write-off.
Written by AJ on Jul 21, 2005
Great tips AJ. Thank you.
Written by The Dad to Be on Jul 21, 2005