Tag Archives: saving

6 Wallet-Friendly School Lunch Ideas

Going back to school comes with its handful of expenses, and school lunch is one of them. Although packing lunch for your kids each day might not sound appealing, it will save you big bucks and is easier than you think. We hope you’ll give these six wallet-friendly lunch ideas a try this school year!

1. Cheese Quesadilla: Not only is this lunch delicious, but it’s super cheap and easy to make. All you need is a tortilla, a couple of cheese slices and whatever veggies you have to add in. This meal is a kid-favorite, plus it’s a great way to sneak some veggies in their diet, too.

2. English Muffin Pizzas: These mini pizzas are a game-changer when it comes to school lunches! All you need is an English muffin, pizza sauce, shredded cheese and other pizza toppings your kids’ desire. Simply cut the English muffin in half, spread the pizza sauce on top, sprinkle on some cheese and add some toppings like bell peppers or olives. Cold or hot, these pizzas are delicious!

3. Homemade Lunch Kit: The popular Lunchables are actually super easy to recreate and much cheaper when you make them yourself. All you need to do is fill a divided container with sliced lunch meat, crackers and cheese. These lunch kits usually come with a juice pouch and a sweet treat you can throw in, too.

4. Veggie Pasta Salad: This simple meal is great for preparing early and having ready to go in the fridge. All you need to do is mix whatever vegetables you’d like – like carrots, peppers or broccoli, with cooked pasta and Italian dressing. To brighten your child’s day, try out some fun-shaped pasta.

5. Peanut Butter and Jelly: Don’t forget about the classic and super cheap go-to school lunch! Many schools have a nut-free policy, but luckily there are lots of alternatives in stores that are nut-free but taste just like peanut butter, like Wowbutter® or sunflower seed butter.

6. Lunch Meat Rolls: By simply rolling some lunch meat, cheese slices and veggies in a tortilla shell, this lunch is ready to go in minutes! Keep the rolls together by using a toothpick and add a dip like ranch on the side.

While your kids return to school, you can be sure they are happy and satisfied with their lunches. Meanwhile, enjoy the satisfaction of knowing you aren’t breaking the bank with these meals!

How to Meet Your Retirement Saving Goals

No matter your age, everyday you work is a step closer to retirement. When you think of driving off into the golden years, where are you headed? You likely have a picture in mind whether it be having a house in your dream location or an RV to explore the National Parks. Whatever that goal is, the steps to get there are going to be similar. Here’s some great money moves you can make in order to reach your retirement savings goals.

Start Where You Are

Many are under the impression that they should wait to save for retirement until they make a significant salary. You may be surprised at how much can be saved with a quality savings account on a small income. Even if you are only able to put $25 away each month, it is a great start. Most importantly, it gets you into the habit of saving. Once this habit is established, it will be easier for you to continue this as your salary and contribution increases.

Make Use of Every Employee Plan

If your employer offers matching contributions to your 401(k), take advantage of this. With most employers, the process is automated to come out of each paycheck. It takes the decision making out of the equation and can add up over the course of your career. If your employer does not offer this, consider contributing to an IRA on your own. It can either be a traditional or Roth.

You Must Stash

No, we aren’t talking about your mustache. What we mean is that you must stash away any extra income that you have. If you get extra income from a bonus or selling a valuable personal item, put that money into a savings account. It may not seem as glamorous as buying a new car or getting a new wardrobe, but your future self will thank you.

Let Your Kids Hear “No”

Many people try to give their kids every opportunity available. While this is great, it should not come at the expense of your retirement savings. Extracurricular activities can get very costly, especially if your children are in elite clubs. One way to cut down on these expenses while keeping them active is to limit them to one activity per season. They will learn to take advantage of every opportunity given to them as well as learn how to get involved in free activities like volunteering or after school clubs.

Saving for retirement can be tricky, so allow us to help your money grow with a CD or IRA from Milledgeville State Bank.

6 Steps To Improve Your Finances

Staying on top of your finances can prove challenging, especially when bills, debt, daily expenses and saving come into play. Finding your way to financial freedom takes time which is why Milledgeville State Bank has compiled a few steps you can take to improve your finances.

Coupon Like Crazy

Some people always pay full price for items. Nowadays, there should be no reason to empty your wallet to that extreme. You can go old school and buy extra newspapers when the coupons are good. We also recommend that you utilize the clearance rack, sign up for free trials and collect rewards cards. Technology also gives you the capability to search coupon sites and download coupon apps, which gives you a plethora of options to save!

Increase Your 401(k)

Even if it is just by 1%, increasing the amount of money you are putting into your 401(k) can change the end results dramatically. It’s always important to think about your future, as you’ll need those funds to support you and your family. Employers may also match your 401(k) to a certain amount, so be sure to know what your company offers and use that to its fullest.

Add To Your Emergency Fund

Now that you are a little more established, a few hundred to a thousand dollars won’t cut it anymore. Your house may need reroofing, you might have to buy a new car or your deductible won’t cover a certain emergency or procedure. These unexpected events will cost a pretty penny, so upping your emergency fund will protect you.

Make An Extra Payment Towards A Debt

If you were able to cut expenses this month, put that saved money towards a debt. Pay off a little extra of your car payment or student loans. The Snowball Method teaches you to start by paying off the smallest debts first while paying the minimum on larger debts. Then keep snowballing to the biggest one as time goes on. Always utilize this tip when extra money comes your way, as becoming debt free is the ultimate goal!

Create A Will

According to AARP, “78 percent of millennials (ages 18-36) and 64 percent of Generation Xers (ages 37-52) do not have a will.” This is a crucial step in your financial life to not have planned out. No matter what age, you have finances, dependents and property that will be left unattended if something were to happen to you. Be sure to get a will put into place, so your assets can be handled correctly.

Get on track with your finances and tame your budget with these simple tips! If you need any assistance with a savings account or future planning, give us a call or stop in. Aiding you through your financial journey is what we’re here for.

Nature v. Nurture: The Psychology of Spending

Psychology of Spending

If you’ve ever taken Psychology 101, you’ve probably heard the argument for nature v. nurture. In this multi-century discussion, psychologists have debated whether a person’s genetics or environment make a greater impact their personal behavior. At Milledgeville State Bank we’re excited to share our take on this timeless debate, and share how nature and nurture affect your spending habits.

The financial traits which we see as more nature based are:

None

Are you surprised? Contrary to many personal opinions, financial lessons and preferences are 99.99 percent teachable. This concept is backed by an interesting study in which children were given one marshmallow immediately, but were given another if they could occupy themselves until the tester returned to the room. Researchers found that the kids who were able to wait to receive the second marshmallow went on to have more successful ACT scores and other measurably improved personal relationships. This information is particularly interesting due to the fact that delayed gratification is a skill, which can be taught from a young age.

Delayed gratification is one of the initial skills learned for financial education in the form of savings. For this reason, it is practical to begin a child’s understanding of finances with this particular task, however, there are many other aspects of managing your money that can be tied to these initial skill sets as well.

The financial traits which we see as more nurture based are:

Whether you prefer to save or spend.
The specific items you enjoy saving or spending for.
Your skillset for prioritizing tasks and expenses.
The desire you have to compare yourself to others.

While the list of nurtured traits could go on for miles, the important fact is that like any other skill, fiscal education can be learned through practice and continued repetition.

If you want to grow your personal financial skills set, we recommend starting with a household budget and saving plan. By committing to these two monthly activities you can start to build a foundation of learning to ensure you are adhering to the best financial practices. As you grow your understanding of finances, adding in a retirement savings plan and debt repayment schedule can be valuable steps to gaining your financial freedom.

To start teaching your child these valuable lessons, we suggest great activities (like these) to help them understand the value of waiting. Simple games such as Mister Noodle can provide valuable comprehension for your child early in life.

The Cost of Kids: How to Plan for Your Growing Family

Budgeting and Savings for Families

At Milledgeville State Bank we understand that adding to your family may not only be an emotional decision but a financial one as well. With the growing costs of childcare alone, it’s important to have a well-rounded plan for covering the expenses of your expanding household. In order to plan most effectively, we recommend structuring your budgeting into these three stages:

Beginning or Before Pregnancy: Examine your current health insurance to determine an estimate of cost for both prenatal care and delivery expenses. While many insurers offer prenatal care at no or little additional cost, the price for delivery can be complex. Study your monthly premium, annual deductible, and out-of-pocket limits for the calendar year to help establish these costs before the baby is delivered.

After Birth: Once the baby is born, there will be traditional costs such as health care, food, diapers, clothing, and more. However, many new parents also spend more on take-out meals to help lessen their time cooking. These expenses, along with a decrease in income for parents on maternity leave, can cause many parents to slide into debt. To help alleviate the burden of these growing figures, we recommend creating a monthly budget to designate every dollar to a purpose. By allocating a specific dollar amount to each area of your spending, you can ensure that all of your costs are covered while also planning for the future.

During the First Year: As your child continues to grow, the costs for new clothes and equipment will continue to grow with them. Many expectant parents can spend upwards of $16,000 during the first year of their child’s life, and variables such as location, number of children, and other factors can contribute to the overall costs as well. When possible we recommend saving for each step in your child’s growth. From birth to three month’s they’ll need many one-time purchases, but during the later stages, you may have adequate time to save for each time period’s necessities.

Continue to grow your finances as you grow your family using Milledgeville State Bank’s trusted deposit services. We’ll help you organize your funds, and make the most of your savings.

What Your Teen Needs to Know About Money Management

Money Management

Throughout their teenage years, your children will begin to grow their personal money management style. Offer them some assistance by offering these four financial lessons from Milledgeville State Bank.

Securing Their First Job

No matter if it’s babysitting, lifeguarding, or bagging groceries, there are plenty of employment options for eager high school students. These opportunities typically start at minimum wage with zero benefits, but offer a foundation of experience and learning. Talk with your son or daughter, and help them select positions to apply for that resonate with them. Resources such as the Chamber of Commerce often list local job openings, and are a good place to comb for recent availabilities.

Managing Money

The younger you begin various habits, the better they stick with you. Teach your children the positive effect proper money management can have on their pocketbook. Start by opening both a savings and a checking account for your teen. Each pay period, help them figure ten percent of their earnings to put into their savings. You can also work with them one-on-one each month to help balance their checkbook and plan for any large expenditures.

Saving for College

Secondary education isn’t cheap. If your son or daughter plans on attending a college or trade school, the time to start saving is now! Work with your future student to determine an educational budget, providing an estimate of upcoming expenses. Once you know the amount needed you can set savings goals for both you and your teen to start tucking money away. The sooner you begin your savings journey the smoother the road will be to your target amount.

Making Payments

Whether it’s purchasing their first car or simply covering the cost of meals at school, learning how to maintain a payment plan is an important life lesson. Explain your personal bill paying system to your teen and see how they can tailor it to their needs. Once they have a grasp on the system itself, gradually add payments to your child’s list of responsibilities, even if you add the money to their account. This will help them learn to keep an updated payment calendar before they graduate high school.

Money management is a continual learning process. There are always new techniques or tricks to better arrange your finances. Don’t stop honing your teen’s money management after these four lessons – stop by Milledgeville State Bank and see how you can keep growing your family’s financial skills today!