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Home > Archive: May, 2006

Archive for May, 2006

update on my boys savings

May 8th, 2006 at 04:15 pm

I'm pleased with both my boys. My 14 year old recieved his birthday money on the 3rd when I cashed the check. I had to firmly remind him a few times about not going into his savings, but he did hold on to $5.03. Then he added the $14 to his savings bringing it up to $19.03. He has figured out on his own that if he adds x amount to his spending jar, as well as places his automatic $2.50 into his savings jar, then he will build his amount of spending money and won't be tempted to go into his savings. This from my autistic son who has also been a big spendthrift. I still have to work with him about saving.

My 10 year old told me he does a better job on his savings if he has quarters.
So...automatic $2.50 into his long term savings, $3.50 into his short term savings jar, and $2.50 in dimes into his spending jar. lol This financial sharpness from my youngest who used to be a big spendthrift. I love it. However, I am still working with him to get him to understand that even though he saves for a specific item, that he needs to save more than just the required amount so that he will have money left in his savings to build on.

What an improvement from 3 years ago when I tried giving them allowances.

staying on target

May 7th, 2006 at 04:58 pm

Today I went to the local dollar store on my bike to get supplies to do a candy card for my soon to be 14 year old. Also had to get cookies and soda pop for his special ed class and a six pack of fruit punch for my 11 year old's field day tomorrow.

I had $10 put aside, sealed and labeled in a small envelope for just this purpose. I had originally projected $6.90 and ended up spending $6.81. So I had $3.19 left over to bring back home. I placed $2.25 in my oldest son's spending jar bring that to a total of $5 for his trip to Silver Dollar City next week for his field trip. That left me with 94 cents to add back to my own savings, bringing it up to $65.44.

Wow! I think I'm starting to get it about being frugal, meeting or exceeding my projected money targets. I'm proud of myself right now.

Not a good afternoon

May 5th, 2006 at 06:18 pm

I can't say that I'm in a very good mood right now. I took my oldest son to a nearby local bank with the high hopes of opening a savings account for him. Well I found out to my unpleasent shock that I could not open his account because: 1. my state ID card was expired, 2. I needed all kinds of documentation for myself(since I was going to be the person in charge of his account)and 3. four different types of ID for my son.

It would cost me about $15 to $25 just to get everything squared away for me and I would still be unable to open his account until the documentation came in. All of this just to open a savings account! This so called Patriot Act is causing more problems for me than it's worth. I think I'll just keep his savings in his piggy bank at home, and later after it builds up more, transfer it to a large coffee can or coin bank or something.

My son was very disappointed and unhappy about this and decided to keep his savings at home. Oh, I forgot to mention that his savings stands at $19.43 at this time.

So after leaving the bank we went across the street to a local convenience/gas station, where I spent $11.18 for a couple of sodas and pizza slices for us.
I had not eaten yet, and him being a growing boy, he was hungry. Still, I'm sitting here scolding myself for taking my savings down to $59.02.

My new total

May 4th, 2006 at 02:41 pm

So the check came right on schedule. The hummidity had me feeling low, but I finally decided to go to the store anyway.
Took my envelopes with me and placed all money in all appropriate envelopes. Bought necessary supplies, but got to confess, broke budget by $10. Broke down and bought shorts and matching shirt.

However, I managed to hold it to only the shorts and shirt. Arrived home and made sure that boys recieved their allowances.

Finally I added up my new total after adding $48.00 to my savings. New total now is $70.01. I'm finally on my way, I think, to real savings.

waiting for the check to arrive

May 3rd, 2006 at 10:16 am

So here it is May 3rd. Up until yesterday I had $27.30 left. Both boys brought home their grade report sheets and both boys brought all of their grades up to C's and above. My oldest boy is mildly autistic but is doing well in public school. So I rewarded them with $2 each, dropping my savings down to $23.30.

No matter. When I get the check today, I will be adding $50 back to it, bringing it up to $73. And my oldest son's teacher will be sending home the leftover $5 that I sent her to cover the cost of a special sporting event my son participated in and won a bronze, silver, and gold medal for. That will bring my total up to $78.30, still leaaving me $22 short of my original goal for May, which was $100.

However, I have done some careful research online and think I have found a legitimate publisher where I can get my booklet of animal poems published. And also a couple of BBB, top rated survey sites where I can earn a little side money. I'm still checking into those a little more before I actually sign up.
I'd really like to make my goal of $100 for this month.