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Back to School And Back to Saving

With school starting, now is a good time to introduce your child to the benefits of saving. Here are some tips to help teach young children the importance of smart money habits:

Let your child set their own savings goals. Encourage your child to
divide up their money: some to put toward their goal, some
for charity and some to spend right away.

Offering them an allowance gives them their first taste of financial freedom. Experts recommend 50 cents to a dollar for each year of age.

Opening a bank account is a good way to introduce children to the concept of saving.

Saving vs. Investing

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Saving vs. Investing

If you've been following these weekly tips and saving a little each month, consider investing a portion of your savings and allow it to work for you. Short-term investing can be used for various reasons: preparing for an emergency, anticipating an upcoming expenditure, or waiting for better investment opportunities.

Long-term investing enables you to maximize your wealth by giving you the advantage of time and the power of compounding. For more information on long-term investing click here.

Cutting Costs When Grocery Shopping

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Cutting Costs When Grocery Shopping

The USDA expects food prices to rise another 4% to 5% this year alone! Even with the rapidly rising cost of food, you can cut costs on your grocery bill. Here are some thrifty ideas:

• Reviewing store circulars to identify sale items
  will help save you money.
• Making a list before you shop to ensure buying only what you and your family will eat before any fresh foods go bad.
• Buying locally grown produce generally costs less because the grower has a shorter distance to ship and their stock is usually in greater supply.
• Buying in bulk gives you the flexibility to buy the amount you need and reduces costs on money that would otherwise be spent for packaging and advertising. This means savings
  for you in the long run.

National Teach Children to Save Day

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National Teach Children to Save Day

Today is National "Teach Children to Save" Day, sponsored by the
American Banking Association. It is never too early to start teaching
your children about money and the importance of saving.

Begin by giving your young child a small weekly allowance and
explaining the concepts of saving, spending, and giving. Providing a monthly allowance to an older child is one way to teach budgeting
and money management.

National Car Care Month

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Here are some quick tips that will save you a lot of money!!!

In addition to being National Financial Literacy month, April is also National Car Care Month. Simple, at-home maintenance will save you money in the long run. With gas prices at record highs, every little bit counts. Consider these two tips that may improve your gas mileage and save you money!

1) Check your tire pressure. Most recommendations range from 27 to 32 psi; check your owner's manual to find out what is best for your car. 2) Check your air filters. Replacing a clogged air filter may improve your gas mileage by as much as 10 percent.