How to Keep Your Kids Busy This Summer on a Budget

I’m bored! This comment is inevitable for mothers trying to entertain their kids during the long summer break.  Often camps and programs for kids can be expensive and out of reach for families whose financial situation may have changed in the last few years. Here are a few tips that are both fun and cost effective to keep your kids occupied all summer.

  

Plan With Your Kids

Sit down and ask your kids what THEY want to get out of the summer. Do they want to learn to swim, take an art class or perhaps spend more time with their cousins? Whatever it is, make sure your kids are part of the planning process, so they don’t have unreasonable expectations. This way you can decide on the programs that are affordable and space them throughout the summer. This will keep your kids occupied for the entire two months. Remember if you enroll your kids in programs they don’t like, it’s a waste of money and time.

  

Collaborate With Parents

Talk to other Mothers in your neighborhood with similar aged children. See if they would be willing to have a play date twice a week. Offer to share the duties of watching the kids.  This will save you money and give you some time to yourself as well.  Use social networking to coordinate and post pictures.  Create a Facebook page. It’s a great way to keep in touch with several moms in your neighbourhood.

City Run Programs are Affordable

Contact your local parks and recreation department and library. City programs are affordable and sometimes free. Well-trained professionals operate the programs, which ensures your kids have the best experience.  Also, check surrounding regions to see what programs they offer as well.

Your Kids are Little Project Mangers

Give your children a “project for the summer.” Ask them if they want to build a tree house, or a fort in the backyard. If they like to paint, buy them a big canvas and watercolors and see their masterpiece come to life. Making this a summer project will help give kids something they can work on all summer.  

Plan For a Rainy Day

Stock up on DVDs that are on sale, borrow some from friends or order movies online. All are very good and affordable options.  Pull out all the old board games and get your kids playing games the old fashion way.   Visit your local Blockbuster, the company is bankrupt and clearing out their DVDs, also go to Value Village or Goodwill to find a good selection of board games.

*This blog first appeared on http://masalamommas.com/ written by Rubina Ahmed-Haq

Financial Surival Tips when your In-Laws are Moving In

Living in an extended family situation is a reality for many young couples with aging parents that require care, comfort and companionship. This situation can cause tension and create problems between husband and wife, especially when it comes to their finances.  It can also be hard to communicate your feelings about money when it’s your spouse’s parents moving in.  Here are some things to keep in mind. These tips will protect you financially and make money matters more clear in the future.

1. No Surprises
Sit down and talk to your spouse and in laws together before they move in. Discuss who is going to contribute what to the household.  Your discussion should include, will they be helping out with the bills and mortgage? Can they watch your kids while you’re at work? How much cleaning are they willing to do? And what are their expectations after they move in? Will you always be eating together, if that's the case who will cook dinner and can they share the duties?  Are they selling their former home and belongings? If so can some of the money raised go towards your now rising costs?

2. Tax Benefits
Inform your accountant. There are tax benefits when you are supporting elderly parents over 65. One is called the Caregiver Amount tax credit. The another is the Disability amount transfer from a dependant:  This is a non-refundable tax credit available to you if your relative is disable and their income is low enough that they won't be claiming
the disability tax credit on their return. You may also be able to claim medical expenses that you paid for your relative if they are dependant on you.

Check the CRA website for details.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/315/menu-eng.html

3.Bigger is Better and Cheaper!
A bigger group means more discounts. Check with places like your mobile phone and your CAA about a family plan. Often bigger groups can get great deals that bring the cost down per person.

4. Renovate now not later
Assess what renovations are needed. More people means more stress on your home, you may need an extra bathroom, a bigger fridge or more closet space to deal with the extra people.  Do this before your in-laws move in to avoid unnecessary renovations with a full house of adults. Don't let things break down and be forced to make last minute repairs. Emergency measures always cost more.

5. Full Disclosure will Protect You
 Let you insurance company know about your growing household.  It might not matter for year. But if anything was to go wrong in your house the insurance policy could be voided if it was found more people were living in the house full time than the insurance company knew about.

6. Better Safe than Sorry
Check what medical coverage your in laws have. With elderly parents you always have to make sure their medical needs are taken care of. Find out from your work if your parents are covered under your policy. If not make arrangements to ensure their medical costs are covered.

7. Now the Work Begins
Once they move in. All your bills are going to go up make it a habit to do laundry and run the dishwasher during off peak hours. Make sure you stick to your financial obligations that were agreed on before your in laws moved in and make sure they are also keeping their promises. 

These tips are for information purposes only, please consult your Financial Adviser to get more specific advice that is catered for you and your specific money needs.

How to Get a Luxury Holiday for Less

Are you thinking of going on a luxury holiday this year but think you can't afford it. Think again, a website called Get A Room promises to get you the best deal for your travel dollar. Always Save Money host Rubina Ahmed-Haq spoke to Bob Diener, the President of Get A Room on how to score a great deal on a  hotel room this summer.

Here are some tips to keep in mind before you book your summer holiday

1. Do your research before you buy. After you decide what city you want to travel to, figure out that city’s high and low season. Also is this city busier on the weekends or during the week? All this information and a little flexibility will help you save money

2. Always pick up the phone and ask for the “unpublished rate.”   Often a real live agent can give you a bigger discount. Hotels are reluctant to show their rock bottom prices and leave that information with the agents .

3. Don’t travel last minute. Book at least 21 day in advance.  Gone are the days when hotels were slashing prices days before you are due to arrive. Hotel room prices are often higher if you book last minute. Hotels now reward you for committing early.

4. Look out for one-day deals. A lot of online sites offer short term deep discounts. These flash deals last 24 to 72 hours and can save you a lot of money. But you have to act fast

5. Check the reviews on any hotel you are thinking of booking. Make sure you are truly getting the luxury experience the hotel is promising. Don't pay for a hotel you don't want.

How Moms can save money right now: Exclusive Interview with money saving maven Mrs. January

Always Save Money Host Rubina Ahmed-Haq, recently sat down with Cassie Howard, AKA Mrs. January. Howard is  passionate about saving money and living a frugal lifestyle.  Howard posts Canadian deals, Canadian Coupons, Canadian freebies and more on her website called Mrs January . She is a wife a mom and a frugal homebody who loves to spend time with her family.



Rubina: How did "Mrs January" get started? 
Cassie "Mrs. January": MrsJanuary.com was started in 2007 when I was bored and looking for something new to do. It was just a personal blog in the beginning, and eventually I got into using coupons.. so I posted about that. I started using coupons more and more and more and one day just decided to make my blog go from a personal diary, to a helpful resource for other Canadians that were looking to save money.

Rubina:What is one of the biggest mistakes young moms make with their finances? 
 Cassie: Not having a set budget. That, and thnking that they have to buy their kids EVERYTHING they want. Children really only need a place to sleep, clothing, and food/beverages. Anything else is extra! I

Rubina:What is your number 1 savings tip for new moms? 
Cassie: Don’t go overboard. Research what a baby (or child, even) REALLY needs, and avoid all of the extras. I also suggest using coupons, specifically on diapers. There are ALWAYS diaper coupons available.

Rubina: How do you get ready before you hit the stores? 
Cassie:I scan all of the sale flyers and make note of the good deals, and then I see if I can match those sale items with coupons to get an even better deal. Finally, I make my shopping list and then hit the stores!

Rubina: Is there a better time to go grocery shopping? 
 Cassie: Late at night or early in the morning.

Rubina: Is it important to have a stockpile of household good in your home? Why? 
Cassie: I believe so, yes. It’s important to protect your family in case something bad happens (someone gets extremely ill, loses a job, etc.). Not having to worry about groceries (because you already have a stockpile) will make those unfortunate situations seem alot easier to manage.

Rubina: What services does Mrs. January.com provide anyone that wants to save? 
 Cassie: You can find an abundance of money saving tools on MrsJanuary. I post about personal finances, Canada coupons, deals & freebies, frugal living articles and even easy recipes!


You can find Miss January and her money saving tips on Twitter Twitter  and at www.mrsjanuary.com. Mrs. January is getting ready to launch her new E-book on Monday, June 20th, it will be jam packed with money savings tips!

How to Prepare for Higher Interest Rates

The Bank of Canada is leaving interest rates at 1%. You can almost hear the collective sigh of relief from Canadians on a variable rate mortgage.  But, Bank of Canada governor Mark Carney is hinting that he will start raising rates towards the end of the year. I spoke to Kelvin Mangaroo, president of RateSupermarket.ca, on how homeowners can prepare for a rate hike.

Here are some quick tips on how to prepare for higher interest rates:

1. Calculate how much your payment will rise when interest rates go up, 0.5% 1% 1.5%.  Mortgage Rate Calculator
2. If you’re on a fixed mortgage and searching for a lower mortgage rate you can use this calculator to see what your penalty will be. Penalty Calculator
3. For new homeowners calculate your payments based on a higher interest rate, to ensure you can afford an interest rate hike
4. If you can afford it,  make a lump sum payment on your mortgage now. At a lower rate more money will be going towards your principal
5. Always consult a mortgage professional to figure out your options, every homeowner’s situation is unique.
6. To avoid extending the life of your mortgage recalculate payments when rates go up, often it’s the difference of only $50 a month to keep up your current schedule

How to Extreme Coupon in Canada

Learn how to extreme coupon in Canada.  YES it is possible! Always Save Money host, Rubina Ahmed-Haq interviews Lina Zussino of Grocery Alerts Canada.(www.groceryalerts.ca) Twitter @groceryalerts.