savings

Millennials are Saving at a Younger age than any Other Generation

November 12, 2015 By Amanda Blankenship 1 Comment

New research has shown that millennials are putting their first dollar towards retirement almost a decade before “boomers.” Boomers, who spurred the mutual fund industry, are no competition for the millennial generation when it comes to saving.

An average millennial household starts investing its funds at the age of 23. At the older end of the boomers generation, they started investing at the age of 37 and the younger end at 32. The average Generation X household started investing at the age of 26, so it seems that with each generation, people are thinking more about saving and their retirement than those before them. While this tells a story, there is more here than a simple generation gap.

There is some history as to why boomers may have waited so long to invest in mutual funds. Although mutual funds were started in the late 1920s, they did not gain popularity until the 1980s, when many boomers had already entered the work force. They felt pressure to save, but they weren’t thinking about their money growth in the long run. Many of them saw individual stocks as their only option.

In 1978, the Revenue Act was passed and had a section detailing the 401(k), that is what changed how people saw investing in mutual funds and saving. 401(k) savings and retirement planning became a gateway to mutual funds.

Now mutual funds assets sit at a pretty $16 trillion today, but prior to 401(k), the numbers were at $50 billion in the late 1970. There are nearly 8,000 mutual funds you can invest in today, compared with fewer than 500 in the 1970s. That is a huge change, and it could be why so many people are investing at younger and younger ages.

Millennials only make up 16 percent of the mutual funds market while boomers and Generation X make up 40 and 32 percent, respectively. However, the generation is still extremely young, and there is much to be said about the saving habits of the young generation. Many millennials are doing a rather impressive job when it comes to saving their money.

Eight in 10 of the millennial generation said that the recession taught them that they had to save, much like the generation that grew up during the Depression. Many of them are taking full advantage of 401(k) plans at an early age, and that gives them about a decade of additional growth compared to boomers who didn’t start saving towards retirement until they were in their 30s.

Another probable reason for millennials being able to save so easily is that everything is automated. Many millennials don’t even have to think about putting their money away, they simply set up an automatic with drawl or transfer to savings or a bond account.

While millennials have technology and an early start on their sides, boomers are aren’t doing so shabby themselves. Many of them have plenty of retirement money put away and, in fact, the generation even takes advantage of some of the technology available to them to automate savings.

Celebrating Halloween and All Saints Day

October 29, 2015 By Guest Writer 1 Comment

Halloween (Oct. 31) and All Saints Day (Nov. 1) are days of great importance to people all over the world. Halloween is an ancient pagan festival for the dead. While this autumn feast was tied to evil before, our culture celebrates it as an innocent night of begging and fun. People who believe in the good of the world can use it to celebrate the Light. “Hallow” means holy and the word Halloween refers to the night before the feast of all holies, or All Saints Day. This promotes all things good, joyful and pure, implying our children are “children of the light”. How do we celebrate this tradition the old fashioned way? Let’s find out.

Prepare your Costumes

Prepare for Halloween by spending an afternoon gathering dress-up goodies for your trick-or-treaters. Put old, funny-looking clothing, wigs, makeup in one place to keep you organized. On Halloween, let children create their own characters. Encourage them to be funny and outrageous while saving money at the same time.

Prepare a Halloween Party

Instead of letting your children go trick or treating, try hosting a party for your children and their friends. Give each child an empty bag. Have the kids earn their treats by performing nice tricks for the adults. Serve nutritious snacks for the bags as well as a few sweet surprises. Carve pumpkins, bob for apples, have a bonfire, enjoy the beauty of the autumn night without worrying about your children’s whereabouts.

Recognize Family Saints

Halloween is the night before All Saints Day, making it a great idea to explore the family saints on that day. Let your children know who their patron saints are and why they are remembered. They may choose to dress up like St. Joan of Arc, St. George the Dragon Slayer or St. Francis of Assisi. It would be fun letting their friends guess who they are by giving clues about their saint’s life and give them a reward for each correct answer.

Pumpkin Farm Visit

Go on a trip to a pumpkin farm or country market to pick out the family pumpkin. Grab a loaf of pumpkin bread (see recipe following) and a jug of apple cider. When you get home with the family pumpkins, ask your children to draw faces on paper. Decide on a winning face before the carving begins.

Pumpkin Bread

Pumpkin bread is an awesome way to bake something delicious to celebrate Halloween and the fall season. This recipe makes some of the most yummy pumpkin bread in the world!

1-2/3 cup flour

1-1/4 cup sugar

1 teaspoon baking soda

1/2 teaspoon cinnamon

1/2 teaspoon nutmeg

1/4 teaspoon salt

2 eggs

1/2 cup vegetable oil

1/3 cup water (or less)

1/2 cup chopped nuts

1 cup pumpkin

Mix dry ingredients; add nuts. Mix in egg, oil, water and pumpkin. Stir until blended. Bake in a greased loaf pan (9″ x 5″ or 10″ x 4″) 60 to 70 minutes in a 350-degree oven.

Candle Blessing

It is the perfect time to combine the sacred and the secular to enrich your childs’ faith. This occasion is a good time to teach the simple gospel truth that the light does exist.

All Saints Festival

Schools can also choose to hold an All Saints festival for children and their families on the occasion of Halloween. Children and parents can prepare booths and prepare fun-filled activities such as a ring toss, a fishing pond, “guess your weight” and so on. The money earned could be sent to a favorite mission or charity. End the festival with an outdoor parade in which all students dress up like their favorite saints and “parade” around the school neighborhood.

5 Ways To Save This Halloween

October 27, 2015 By Amanda Blankenship 2 Comments

Halloween is surprisingly a huge holiday in the United States. The holiday, which centers around candy, jack-o-lanterns, and costumes, is celebrated by about 64 percent of the American population. Over 41 million children ages 5-14 expect to go trick-or-treating. One of the most shocking numbers is the average American will spend practically $75 on costumes, decorations, and candy for the holiday. In the U.S., consumers are expected to spend $6.9 billion on Halloween this year.

Make your costume

It doesn’t really matter if you’re not the crafty type. Halloween costumes are supposed to be a bit scary or even goofy looking, so try your hand at sewing or do the old “refrigerator box robot” costume. If making a Halloween costume to shed some of the costs of the holiday seems like a possibility for you, check out some awesome DIY costume ideas here.

Compare prices

This goes for absolutely everything! By comparing prices on groceries each week or clothing prices from store-to-store, consumers can save a ton of money. The same goes for Halloween candy prices. Picking up flyers a few days before the holiday and comparing prices at Walmart, Costco, Target and other stores before buying is a smart idea. Also, take into consideration the type of candy you purchase. Chocolate candy is always going to more expensive than gummies or hard candy.

Look for free events

Free events are some of the most fun because, while you get to enjoy an event, you don’t have to spend any money. Free fun is the best type of fun. The week of Halloween is when the freest events are happening. Sometimes local places have a free haunted house, a festival or parade. Some events require a donation like perishable goods or “pay in blood” (a blood donation, of course).

Wait it out

Many people buy a pumpkin weeks before Halloween. However, the best prices on pumpkins are going to be the day before the holiday (Oct. 30). Spend Halloween eve carving and decorating pumpkins for the front porch. You’ll feel better about saving money on the pumpkin and you’ll be able to create a new Halloween tradition of decorating the night before.

Get cheap decorations

Decorations for Halloween can get pricey. However, no one walking up to a house is going to know whether you got your decorations at the dollar store or at the Halloween party store. Get them at the dollar store. You’ll love the decorations simply because of the money you’ll save by buying them for a dollar (or less).
There are tons of ways to save on celebrating Halloween (and many of the major holidays). Consider trying a few of these ways to save on celebrating this year. Your bank account will thank you!

35 More Places to Find Coins

September 25, 2015 By Alexa Mason Leave a Comment

Do you know a person who is always finding money? Do you ever ask yourself how is it possible that Mary/John or Joe always seem to find money wherever they go? Well, it begins with the process of always picking up the change that crosses your path. Here are 35 places to find coins.

• Under your washer.
• Under your dryer.
• On the street.
• At the restaurant on the floor next to the cash register.
• Old bank accounts
• Forgotten IRS returns
• In an old secret hiding place.
• Your baby’s diaper bag. Most parents will throw a wallet into the bag and then change will fall out.
• In your high-end camera bag.
• Change is almost always at the bottom of one of my backpacks.
• In between the cushions in your car.
• In any guy’s pants pocket.
• Next to a fountain that people throw coins in and make a wish. I tend to throw these in the fountain…just in case!
• Whenever the giant pile of snow melts you definitely find change…and some other things.
• Under a ski lift; you will also find tons of gloves, sunglasses, and the occasional hat.
• In your kid’s piggy bank. Hopefully you don’t have to use it though.
• In an old coffee can that was being used as a coin collection jar.
• At your Grandma’s house in odd places.
• In an old coin bag that you used to throw in your purse.
• In your random collection of boxes that everyone seems to always have.
• In the seat of your moped.
• Next to the ticket machine at the light rail station.
• On the bus.
• In your kid’s cheerleading bag.
• On the dance floor-but those coins are usually a little sticky.
• Underneath the outdoor patio at your local bar. If you’re lucky you’ll find some crumpled up dollar bills.
• In the sand at the beach.
• At your next food truck festival you may find change next to the front of each food truck. People are usually furiously digging through their pockets to pull out some change to make their purchase.
• At the “circle of death” during your next cruiser ride. The “circle of death” is where all the cruiser ride participants ride around and party at the end fof the night.
• You’ll sometimes find change on the patio that surrounds your local swimming pool or on the bottom of the pool if other swimmers tossed a coin in for fun. CAUTION-if you aren’t a strong swimmer avoid retrieving those coins.
• In your old yoga bag for the yoga class that you don’t take anymore.
• In your old swear jar.
• Sticking to the bottom of your shoe. It has been known to happen.
• Old garage sale change boxes.

There is an endless number of possibilities to explore and consider when looking to find loose change. Make finding change a game and over time you will be amazed at how often you will find change around you. Let your friends and family know about your loose change love. Have fun!

50 Places to Find Coins

September 25, 2015 By Alexa Mason 2 Comments

It is amazing how many places coins manage to find themselves. From the obvious to the not so obvious places there always seems to be an opportunity to stumble upon some unexpected cash. If you think it’s impossible, try looking for change in the following 50 places!

• Under church pews-I would donate this change…just in case!
• In your summer purses. Like most women I rotate my warm weather and cold weather items. It’s not unusual for me to find change and random bills in last season’s purses.
• In a suitcase. Most people don’t keep purses and wallets in their suitcases while traveling but they do leave stuff in their suitcase while hanging out in foreign locales.
• In an old wallet you’ve forgotten about that is hanging out in the back of your closet.
• In a bike parking lot.
• At the train station, specifically where the self-service kiosk is located.
• On the floor of the children’s museum.
• In the aftermath of a mud run.
• In the aftermath of a marathon (you might find keys too).
• At the ski resort equipment rental room.
• In a forgotten digital savings account.
• Near a Coinstar change machine.
• On the floor of your local pool hall.
• Outside your local bar (but usually you’ll find bills).
• In your old party supplies box.
• In your old storage unit.
• In your “everything” drawer at your house.
• On the floor of your favorite coffee shop.
• At your local food hall.
• Your forgotten yard sale change collection. You decided not to have the garage sale after all.
• In your washer.
• In your dryer.
• In the pockets of suits that are sent to the dry cleaners. Check these before you send them out.
• In your baby’s diaper bag.
• Coins are often found in your back or front jeans pocket.
• On the gym floor at your local Girls and Boys club.
• Under your bed. There are nights when you pull off your jeans, the change falls out of your pockets and you’re too tired to pick it up!
• In the cushions of your local bus. Proceed with caution if you stick your hands between the cushions.
• In between airplane seats.
• In a forgotten swear jar.
• At the amusement park near the Tilt-a-Whirl.
• At the amusement park near the roller coaster.
• In between the seats of an Uber car. You should proceed with caution before sticking your hand between the seats.
• In a skirt hem that you weighed down for your old biking obsession.
• Coins may be found in an old makeup bag.
• On the grass after a bbq.
• In between the seats of a taxi.
• At the tattoo shop. If someone is in pain and they are shaking, there is a found change opportunity.
• Near, in, or around any green (read-pot) business. For obvious reasons.
• At the next beer festival that you attend, look around for change. More often than not you’ll probably find bills.
• During Oktoberfest. People’s pockets move a lot during the chicken dance.
• At the DMV.
• Next to any ice cream stand with an outdoor facing window.
• On the floor of your next fraternity party. Caution, that change might be gross.
• On the floor of your next sorority party. Again, caution that change might be grungy.
• In the next golf cart that you rent.
• At Dave and Busters, anywhere and everywhere.
• Random thrift store boxes.
• At the bottom of every foam pit.
• In your tool kit.

Following my own advice I found a quarter at the bus stop today. In fact, hardly a week goes by without finding some change. Whenever I find change it reinforces my belief that there is an infinite amount of money to tap into. What do you think? Found any loose change lately?

Vegan Diet Dangers

September 25, 2015 By Alexa Mason 9 Comments

Vegan Diet Isn't As Healthy As You Think

There are a number of different diets that people are trying out these days: Paleo, Gluten free, Whole 30 and the vegan diet to name a few. Out of all of these diets the vegan diet seems to get the most flack. There is a joke that goes a little like this “how will you know a vegan? They will tell you!” To be fair, most people become vegans for wonderful reasons. Those reasons include: a love for animals, a dislike of eating animal proteins, protesting the treatment of animals at food processing plants, and a genuine desire to be healthy. So this makes one ask the following question: is the vegan diet as healthy as people think?

There are certain vitamins and minerals that we receive via our daily diet. We know that spinach has iron, meat has B12, and the list goes on. What happens when people follow a vegan diet is that certain vitamins and minerals that would be ingested through different animal protein sources are willingly removed from the diet. Typically people who follow a vegan diet find themselves taking vitamins to balance out deficiencies that will occur because of the change to their diet.

Everyone’s body is different. There are definitely some people whose bodies react positively to a vegan diet. Or, even a diet with meat, or milk products. Each person’s body is a little bit different so it’s important for people to consult with their doctors to make sure that they are eating in a way that is healthy for their body.

Have you seen a fat vegetarian or vegan and wondered-how is that possible? It’s possible because a lot of the foods that vegans/vegetarians eat are highly processed. If you’ve ever taken a moment to look at the frozen foods aisle in the vegetarian/vegan section you’ll see that a large number of items offered are breaded.

Also, many people following these diets don’t know how to prepare food as well as they would need too in order to create fresh and healthy meals minus processed protein sources. This issue is an extension of normal eating habits in the U.S. Most people are eating a fairly large amount of convenience food items in their daily diet-vegans are no exception.

Many people following a vegan diet rely too much on soy-based products. In some studies soy has been shown to mask the symptoms of hypothyroidism, and people worry that current soy is so genetically modified that there can’t be the same amount of health benefit and nutrition received from a soy-based product.

Regardless of how you feel about soy, animals, and vegetables, any diet that you decide to follow should take into account your body’s needs. People wishing to change their diet drastically should take the time to learn about nutrition and the different types of food that will nourish their bodies in a healthy and sustainable way. Likewise, anyone altering their diet drastically should take the time to visit their doctor and consult with a nutritionist to make sure that they are doing their due diligence and managing their food intake so that they remain healthy over the long run.