KristiLyn Wilkinson, M.S., AFC Candidate
You might be familiar with this phrase if you have read Marie Kondo’s The Life-Changing Magic of Tidying Up. I’m here to tell you that revolving savings accounts are pretty life-changing as well! A revolving savings account is the magic that keeps irregular expenses from derailing your budget.
One of the main obstacles to budgeting that I hear from people is that they have expenses that don’t happen every month, that are larger in nature, and throw off their planning. For most people, we tend to live our financial lives month-to-month. Your rent or mortgage is due once a month, your car payment is due once a month, you pay for Netflix and piano lessons once a month, etc. You get the picture. But every month it seems like there are some expenses like a birthday, Christmas, annual insurance bill, college tuition, etc. that come creeping in.
AMANDA H. CHRISTENSEN, AFC, USU EXTENSION ASSOCIATE PROFESSOR, UMM EDITOR
Clearly, it’s important that all adults have a rudimentary understanding of money management. You don’t have to dig too deep to see the critical issues that make this all the more important for women. Research shows specific issues that make it CRITICAL for women to understand the basics of personal finance are threefold: they live longer, are more likely to stop working mid-career, and they earn less. Let’s break down the “So What?”
GUEST CONTRIBUTOR: TASHA KILLIAN, USU EXTENSION ASSISTANT PROFESSOR
Choosing to pursue higher education can be a tough decision. It can be an even harder decision when you look at all the costs. In light of National Higher Education Day, high school graduations, and college freshmen getting ready for their first semester, I thought I would share with you a few tips that got me through some of my higher education days, when money gets a little tight. If you, one of your children, a niece, nephew, or someone else you know is going to be starting their higher education experience in the next little bit, be sure to pass these tips on to them.
GUEST CONTRIBUTOR: ANDREA SCHMUTZ, USU EXTENSION ASSISTANT PROFESSOR
I recently saw a quote on a sign that said, “Gardening: it’s cheaper than therapy and you get tomatoes.” I chuckled to myself and pondered the implied message. With spring in full force, it’s a perfect time to consider growing a garden and reaping the following SIX benefits:
GUEST BLOGGER: ANDREA SCHMUTZ, USU EXTENSION ASSISTANT PROFESSOR
“Look what I found! Can you make something with it?” When my kids were growing up, this was a common greeting as they walked in the door from school. Sometimes they had found a real treasure that held great potential for upcycling. The gold star days were when they opened up their lunch boxes and pulled out multiple empty juice pouches (i.e. CapriSun) they had collected from their friends. We would wash them out and plot all of the many projects we could make with the “trash”.
From the time they were young, I tried to instill in my children their role in protecting the earth and being good stewards of the resources around them. Before they were old enough to understand things like “carbon footprint”, I focused on helping them understand simple concepts like waste and trash. What I didn’t realize at the time was that I was also teaching them some simple money management skills while fostering creativity that would pay off when the budget was tight.
Have you ever stopped and thought about the connection between being a steward of the earth and a guardian of your budget? When we breathe new life into a discarded object, we save money and we help save the earth one small step at a time. Here are four common household materials that can be upcycled into useful projects or gifts:
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