Author: Admin

Practical Ways to Cut Your Kids Education Costs

Back to school

It’s that time of the year when the new school year is just around the corner and the thing that parents are thinking about most is how best to prepare their children for the school year; but along with such preparation they can’t help but fret a little about the impending costs. Yes, of utmost importance is the education of your child(ren).

In fact education is a right every child is entitiled to and a pertinent need of all children, but it can become very costly, as most parents will tell you, if asked. So availing yourself of scholarships and educational grants for your children is the best way to help them get through schooling.

Of course, we both know that only a small percentage of children are eligible for these scholarships, making it necessary for parents of the ineligible children to pay out of pocket and find other available sources to help.

Organize and Save

That having been said, there are a few simple and effective methods that parents can employ to cut the costs of schooling for their children, especially during the back-to-school season. Most often, these methods are taken for granted, but you should not make the mistake of taking anything for granted since nothing is promised or guaranteed.

Maintain an inventory of school supplies for your children and keep it organized. If you are not organized, you will end up spending more money on replenishing your supplies. Small things like pencils and crayons may not cost too much, but if you replenish your supplies unnecessarily, you are losing valuable money.

You should also try involving the kids when making up the inventory list. This will give them a sense of ownership for their things and would know where to take and put their things, as well as taking better care of them.

Tax holidays & bulk buys

Tax holidays are sometimes offered by many states during the back-to-school season. Price ceilings during these periods will usually be put on different school gears. You might want to do a little research and ask about the schedule and details of any tax holidays offered in your area.

It’s a basic economic principle that has worked for years: “The more you buy, the more you save”. Well, this is applicable if you are buying a specific item which you will really need in the near future. In buying pencils, for example, you might want to buy a box rather than buying one for each of your kids.

Let’s face it, you will be needing to replenish these items after some time, so you might as well avail yourself of the lower per item price by buying in bulk.

Transportation & snacks

You might want to consider buying your child a bicycle for him/her to bring to school. This, of course, is not always feasible. Finding a cheap and safe way to bring your children to school daily is an important thing. Car pools and school transportation services are options that you can look at if they are available in your area.

Whenever you have the time and energy to prepare breakfast and lunch for your children, do so. You will not only be saving on the pocket money that you will give to them but you are also secured that your children are eating healthy and safe meals.

Getting your children through school is a big job and a costly one. Saving money through practical and simple means can assist you in this endeavor. The benefits will eventually add up to bringing a brighter future to your children and, as a natural added benefit, your proud satisfaction.




Practical Steps to Cutting Your Medical Expenses

Treatment isn’t free

I begin this post by invoking a phrase that often sends a direct, and sometimes rather harsh, message to particular audiences: “there is no such thing as a free lunch.” The same thing can be said about medical attention, meaning, there is no such thing as free medical treatments or medication.

Some time or another, all of us will need medical treatment. Whether it would be for simple colds and flus or for more serious illnesses. Whatever the circumstance, these incidents would hurt us and hit our pockets hard.

According to various studies, Americans spend more money on medical expenses than any other nationality in the world. As prices get higher and life gets harder, saving some money off your medical expenses will definitely be beneficial to you. In view of that reality there are some pointers discussed in the following paragraphs that could prove helpful, so read on.

Take care of your health

Prevention is always better than treatment. Being fit and healthy might seem to be a 21st century fad but it wouldn’t hurt us to jump on that bandwagon. An analysis of the 1987 National Medical Expenditures Survey revealed that people who are more active spend less on medical expenses than those who live lethargic lives. This analysis equated the benefit of being physically active to $330 (1987 dollar value) per person.

For smokers and drinkers, reducing cigarette and alcohol consumption is an option which you may find feasible. You will not only reduce future medical costs but also reduce direct costs from purchasing these products. This about this simple calculation: At $5.00 per pack of cigarettes per day, your cost per month just for cigarettes is, $140.00 which is enough to pay at least one utility bill and perhaps two.

Buy generic

These days generic drugs are just as effective as the brand names; so true is this that major supermarket chains and Chain Drug Stores like, Rite Aid and Walgreens are producing their own brands and competing with the traditional brand name manufacturers. Patents have been used by manufacturers to to set a price so as to recover their costs in developing their products.

However, these patents don’t last forever and generic versions of the drugs have been made available in more varieties. Fact of the matter is, generic drugs are basically the same as the brand name drugs in the sense that ingredients and quality are very much the same.

Going generic can save you a lot of money. According to the Association of Chain Drug Stores, the generic drugs are priced at $24 on the average in 2004, while the average price of the branded ones is $96 dollars. That’s a significant difference for any consumer, but especially to those who are on fixed incomes or others trying to adhere to a budget.

Heed your doctor’s advise

Take time out to discuss things with your doctor, since exercise this can also save you a lot of cash. Don’t be shy to ask your doctor about possible alternative drugs you can ingest. Ask if there is a generic drug that you can take if s/he prescribes a branded drug for you. If you are going to have surgery, try to schedule wisely, so as to prevent overstaying in the hospital.

And most importantly, do as you are told by your medical expert. If s/he asks you to quit your vice, quit it. If s/he tells you to be active, then you’d better be! Medical expenses can really dig a hole in your pocket. Try to be wise in your medical transactions and more importantly, take care of your health.