It’s hitting 90 degrees here in Georgia and the temperature keeps rising. This has been a very busy summer for me and the kids, but we have to slow down and enjoy all that summer brings.
I have a few things planned including catching a couple of Braves baseball games and hitting Lake Lanier. I got a deal on tickets at work which comes in handy. This will be far from a boring summer. I hope your summer is fun and exciting too. If you are having trouble getting it started off I have a few tips to make it memorable.
Here are my tips for how to have an amazing summer with the kids that is affordable and fun:
1. Plan your activities ahead of time
Back in February I began planning the summer activites for my kids. I knew I needed to start early because in my area, being last minute means you lose out. Summer camps book up early, especially if they have a reputation of being high quality and affordable.
In my neck of the woods, the PAL or Police Activity League summer camp is both. So I enrolled my son and paid for the entire 8 weeks in advance. I got a discount for doing that and relief from the stress of having to worry about paying a fee every week. I used my tax refund to fund his summer experience.
2. Get Discount Tickets at Work, Through the Grocery Store or Online
I am allergic to paying full price for attraction tickets. I will search high and low for a discount or a deal. Inflation has brought about high prices but there is always a way around them if you are willing to do the research.
My tickets for the Braves games and Lake Lanier (a local water park attraction) came at a great time. I got a package deal that gives me free and half price tickets so we get to go at least two times for the price of one full-priced ticket.
If you can’t get tickets at work go to Publix, Kroger, or your local grocery store. Here we can get discount tickets to Six Flags Over Georgia.
Another source of discount tickets is Half-Off Depot, GoldStar, or Groupon.
3. Take a Weekend Getaway
Staying home all summer long can get boring and what are summers for if you don’t get away at least one weekend, right? Your trip doesn’t have to be too far away or too expensive. Drive two hours in any direction to get to a fun place to explore.
Living in Atlanta gives me many place to explore in the surrounding state. I can get to South Carolina’s Hilton Head Island, North Carolina’s Outer Banks, Chattanooga Tennessee, and parts of historic Alabama in just a few hours. Stay at a moderately priced hotel that has a kitchenette to save on eating out, find free places and spaces to play in the city, take lots of pictures, and create new memories.
4. Enjoy a Picnic and Free Concerts/Movies at Your Local Parks
If you can’t get away, why not go on a picnic one weekend. The local park is perfect for spreading out a blanket under the trees, throwing a frisbee, barbecuing or eating sandwiches, munching on homemade cupcakes or cookies. Don’t forget the bug spray!
Hopefully that same park is hosting a free concert or movie night. Many cities bring in great music acts and movies to give families something to do during the long summer days. Visit your city’s website to see what they offer.
Your summer can be amazing with a little planning and creativity. It doesn’t have to cost you an arm and a leg to make it a great time. There is nothing more important in your family life than making memories for a lifetime. Get out there and have fun!
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Bug Band Insect Repellent Band
Fairy Tales Bug Bandit Natural Insect Repellent
Disclaimer: I received and got to try the above products at no cost to me.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
Since this is a money focused blog I am about to share the top 5 ways cash can leak from your life. It’s hard enough to make money, so why allow any of it to be pilfered (stolen) from your purse? But it can happen without even realizing it. I know I’ve been bitten a time or two, but with financial education comes transformation. Now I am alert to the ways my money can slip away almost undetected.
Overdraft Loans
If you have a bank account you know what this is. You bank covers a payment when your money runs dry but you pay a heavy price. Most banks charge $35 per incident which can put your account further in the negative. The way to prevent this from happening is to closely monitor your account and be aware of your balance. You can check online or with your bank’s mobile app. It only takes a second to avoid paying extra money to your bank.
An overdraft loan is a transaction that your bank pays when you have insufficient funds in your account to cover a payment. Banks typically charge $35 per overdraft, which can be triggered by debit card purchases, ATM withdrawals, checks, or other payments from your bank account. Some banks charge a second fee if not repaid within a few days. Banks collect payment by deducting the overdraft amount and fees from the next deposit into your account. Overdrafts are the most expensive bank credit.
Tax Refund Anticipation Loans (RALS)
The first year this came out I used it because I desperately wanted my tax refund sooner than later. In the years that followed I weighed the cost of getting the money faster and paying as much as 50-500% in fees against waiting 8-10 days and getting all of the money I was expecting. I’ve chosen the latter option every year and have not regretted being patient.
RALs are extremely high-cost bank loans sold by tax preparers and secured by the taxpayer’s expected tax refund – loans that last about 7-14 days until the actual IRS refund repays the loan. RALs cost 50 to 500% APR when all loan fees are included. Some tax preparers also charge a separate fee, often called an “administrative” or “application” fee, in addition to the RAL bank’s fees. Tax preparers and their bank partners also offer an “instant” same day RAL for an extra $20 to $39. RALs are a declining product due to action by bank regulators and the IRS.
Car Title Loans
I have never done this because I value my transportation too much. I couldn’t stand the sleazy commercials either and before I knew how much you’d end up paying an arm and a leg to repay the loan. A typical car title loan costs 300% APR, must be paid in one month, and is made for much less than the value of the car. Most cars are repossessed so you lose money and your car.
A car title loan is a short-term cash loan where the car title is used as collateral. Title loans are typically made without regard to borrowers’ ability to repay. Borrowers risk repossession if unable to repay at the end of the month.
Check Cashing
This is another service I refuse to use because the high fees they charge. Most people who use these services don’t have a banking or credit union account so they feel they have to use this service.
Check cashers sell basic financial transaction services, such as check cashing, money orders, money transmittal, or prepaid debit cards. Many check cashers also make payday loans in states that authorize that product. Check cashers provide these services in exchange for often high fees.
Prepaid Cards
Prepaid cards can be a blessing or a curse depending on your perspective. I’ve used them when I purchased them from a retailer like Walmart or Target. I’ve also used them when I wanted to cash a refund check and that was the primary form of money issued.
I’ve had a prepaid card from a bank once to use like a credit card. I had to deposit money into the account and the transactions would be reported on my credit report. It is used as a credit rebuilder. The down side to it are the fees that are deducted from your total amount.
Prepaid debit cards, often called stored value cards, are a payment method used by unbanked and underbanked consumers to make transactions. Funds are loaded onto the card and then spent when consumers swipe the cards at retailers or withdraw cash via ATMs. Prepaid cards can be useful to consumers but often come with steep fees and are not clearly protected by the federal laws that apply to debit and credit cards.
So there you have the top five sneaky cash leaks. In a nutshell:
1. Overdraft Loans because of insufficient funds come with a heavy fee for each overdraft incident
2. Tax Refund Loans hit you with a heafty fee to take out the loan, sometimes as high as 50% of your expected refunds in fees.
3. Car Title Loans put you at risk of losing your car on top of paying up to 300% in interest.
4. Check Cashing services charge very high fees to cash the check. In addition to paying taxes to Uncle Sam on your paycheck you are also paying to have your check cashed.
5. Prepaid Cards tack on fees to use the card and it’s hard to get a refund if something goes wrong.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
If you are like most Americans, you may still be cutting back in other areas, but when it comes to summer travel you’re willing to start spending again. Economic uncertainty aside, 78 percent of Americans plan to take a vacation this summer, and one in four of them plan to spend more this year on summer travel, according to a recent survey released by TD Ameritrade Holding Corporation.
More than half (55 percent) of Americans will spend the same on summer vacation this year as last year, and 26 percent say they will spend more, according to the survey. Just 16 percent intend to spend less on travel in 2013.
Summer vacation is an important American tradition. Traveling together gives families, couples and friends the opportunity to relax, bond and experience new places.
“As valuable as summer vacation can be to our emotional well-being, it’s important to ensure that the costs of traveling don’t adversely affect our overall financial health,” says Carrie Braxdale, managing director of investor services, TD Ameritrade, Inc. (“TD Ameritrade”). “Like managing any large expense, paying for vacation comes down to planning and saving.”
Consider these four important points when you’re thinking about how you will fund this year’s summer vacation:
1. Plan Early
While occasionally you may be able to score a great travel deal at the last minute, it’s more likely you’ll find the best hotel, airfare and rental car rates by planning and booking in advance. Decisions such as your destination, lodging arrangements and transportation plans will all affect the ultimate cost of your vacation. By planning ahead and tallying costs before you incur them, you will be able to save toward your travel goals and reduce the chance of overspending, running up credit card debt or – even worse – diverting funds from long-term savings goals like retirement.
2. Start a Vacation Budget
Just as budgeting helps you stay on track with day-to-day and month-to-month spending, establishing a vacation budget can help you keep control of travel costs. Decide in advance how much you will spend on transportation, lodging, food and attractions before you make a single reservation. Once your vacation is under way, track expenses every day and stay on budget. This will help ensure you don’t overspend on food, activities or souvenirs you didn’t plan for.
3. Keep a level head
Even if it’s the trip of a lifetime, try not to allow your vacation to carry you away. Don’t get caught up in the moment and overspend by putting all your travel costs on a credit card. Going into debt to fund a vacation ensures you’ll be paying for it – at a high rate of interest – long after you’ve returned home.
4. Cut back wisely
Cutting back on other expenses in order to save toward a vacation fund is a great idea. Just cut back carefully. Never reduce savings, especially retirement savings, just to pay for a vacation. In fact, consider doing the opposite, and cut back on vacation expenses in favor of putting a little bit more into your IRA or 401(k). For example, if you start at age 30 and contribute just $500 additional a year toward your IRA, by age 55 you could have an additional $39,000 for your retirement. That’s assuming an 8 percent rate of return over 25 years. If you’re unsure how your current retirement savings will affect your financial life once you retire, visit TD Ameritrade’s Retirement Center, where you can learn about different types of IRAs and find tools like a Retirement Planner and WealthRuler.
Summer vacation can be great fun, but be sure to save toward it and spend it wisely while travelling. Keeping control of your travel costs now can help ensure you’ll have plenty of funds later in life when it’s time to take the ultimate vacation … retirement.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
When I was growing up I thought my parents knew everything in the whole world. While I certainly don’t know everything, I try to learn something new every day and I encourage my kids to do the same.
Not all of us were able to get a post-secondary education but that doesn’t mean that we’re incapable of learning or that we can’t expand our personal world with a little bit of knowledge.
I personally love learning and though I was never able to go to university I have always made it a point to use the resources available to improve my skills, learn new ones or simply find answers to questions that I have.
Books – Reading is one of my passions in life and always has been. Without the information I have acquired through reading, my world would be very dull. We have an excellent library in our area and when my kids were small we would pick a topic and then go research it just for the sake of knowing about it. Any piece of knowledge is useful in my opinion and you just never know when someone will want to discuss the mating habits of the scarlet tanager! It doesn’t have to be something scientific either; it can be new recipes or information on living a healthier lifestyle. When I meet someone from a different country I make an effort to research their country so that I can converse better with them and as a result I have learned so much about places that I have never been.
One problem that I’ve noticed many of us single moms run into is not having the time to read. I always keep a book with me and if I’m waiting in line somewhere, sitting in the doctor’s office or even if I arrive at work 5 minutes early, I use the time to read. Why grumble about having to wait when you can lose yourself in a book?
Internet – The internet has become one of my go-to places when I want to know something. I know that not all of the data is accurate so I like to research carefully but I love the fact that there is so much at our fingertips. Until six months ago I didn’t have a computer at home so I can really appreciate the wealth of information available at the click of a mouse. My daughter has introduced me to wikihow.com. I have learned how to remove a steering wheel from a tractor, give myself a caviar manicure (!) and find cat urine with a UV light. On a more personally relevant note I have learned how to improve my e-mail etiquette and make my own deodorant spray. Another good site is Pinterest and I confess I’m addicted. Whether you’re looking for recipes, garden tips, ideas for activities to do with the kids or any other kind of information that involves living, Pinterest has great ideas for everyone.
Continuing Education – With the availability of online courses, it is much easier now to take classes that may have been off limits to us before because of distance, time constraints or lack of child care. There are various free online classes available through websites such as www.alison.com or www.uopeople.org or www.khanacademy.org. I have not yet enrolled in any courses through these websites but am looking into it. A website that is helpful in upgrading work place skills is www.gcflearnfree.org, another one that I plan to use in the near future.
Seminars and Workshops – Many libraries, community centres, medical clinics and local interest groups sponsor seminars and workshops that are free or a minimal cost and some even offer childcare to enable parents to attend. I live in the Toronto area and there are enough of these events to keep me busy every day of the week if I choose. A One Parent Families group that I attend has an informative speaker once a month and the topics vary from physical fitness to helping kids cope with trauma to photography. It’s a great way to get practical information that we may not normally be exposed to and to get out and talk to new people.
Learning from People Around You – Our friends, family, neighbours and co-workers often have handy tips to pass on and are glad to do it. There are times I have gone out for a walk and seen someone watering their flowers and have complimented them on their garden. These people were very proud of their gardens and were happy to give advice and answer any gardening questions I had. Over the years I have learned many creative ways to stretch budgets, ground beef and my thinking ability simply by taking the time to listen to others instead of waving them off and remaining in my own little world of Me, Myself and I. I believe that everyone has something to teach someone and some of my most valuable lessons have come from people that I have made small talk with in the lineup at the drugstore, at the bus stop or at the cash register. I have not seen some of these people since but the wisdom they were willing to share with a stranger impacted my life in a very positive way.
Even if you don’t like to read, don’t have access to the internet, are too exhausted at the end of the day to even think about attending a seminar and really don’t feel comfortable talking to people unless you have to, it is still possible to learn something new every day if you remain open to it. Whether it’s discovering a new route to get to and from work or another destination or stumbling upon a new way to trick your kids into eating vegetables, every piece of knowledge that we gain is valuable. Learning can make life more interesting and give us a sense of accomplishment when all we seem to do is never-ending dishes, the pile of dirty laundry doesn’t seem to shrink and our home never seems to stay clean and tidy.
The mind is like a muscle and there are opportunities for us to exercise ours all around us every day.
One of the best things you can do as a solo mom is get out and have fun. I don’t mean the clubbing, get down and dirty drunk, kind of fun but clean fun that energizes you. There is a big difference.
I had that kind of fun this weekend at a Masquerade Ball sponsored by my church’s social committee. It was not the standard stale and boring banquet you see in typical churches. Nope it was a party with a band, costumes, and lots of dancing!
My life is blessed because it is filled with supportive people from my church as well as family. I can be me and feel 100% accepted. Isn’t that what we all want deep down?
If you can find a place or group of people like that then you have an awesome head start. It kills the isolation that is very present in the single mom life. It also puts a dent in your depression.
I used to think I couldn’t go to parties if I didn’t have a date so I wouldn’t go. Not any more. I go because I want the fellowship and fun. So far I’ve had no regrets, plus I get to meet and dance with all the single guys there.
Here are a few pictures from the event. While you are looking through them why not find a party or other social event to attend. You really need it.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
Hi! Welcome to RichSingleMomma.com. I started this website almost a decade ago because I couldn't find any blogs back then that helped single moms with money. I was having some success in that area so I decided to share what I knew about side hustles, making extra money, and managing money. Read more...
It’s hitting 90 degrees here in Georgia and the temperature keeps rising. This has been a very busy summer for me and the kids, but we have to slow down and enjoy all that summer brings.
