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A Guide for Building A Child Trust Fund

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Child Trust Fund Guide

A Child trust fund isn’t just for the Rockefellers and the Rothschilds of the world. They’re also for normal moms like you and me who want to leave a legacy for our children and our grandchildren.

What Is A Child Trust Fund

Trust funds are a financial tool associated with estate planning. They represent a separate legal entity that holds assets such as cash and property for the future benefit of a child.  

Three terms that are helpful to understand are:

  • Trustee – the beneficiary of the trust, or the child
  • Grantor – the person who set up the trust
  • Trustee – the person or company that manages the assets of the trust

Why Do You Need One And How Does It Differ From A Will

The primary benefits of a trust include tax savings for the grantor and asset protection for the beneficiary.

A trust allows for the distribution of funds over time for a specific event, for example, monthly distributions to pay for a grandchild’s college expenses. With a trust, this is possible before the grantor’s death. A will does not go into effect until a person dies.

With a trust, the specific conditions set by the grantor are met. Where this is different than a will, is the property passed on through a will must enter probate, which can get messy, can cause delays, and can cost extra money. A trust is done outside of the court system so that you can avoid probate.

Types of Child Trust Funds

The most popular type of Child Trust Funds falls under the term, Irrevocable Trust Funds (ITF). There are two major types of ITFs – Section 2503 (b) and Section 2503 (c).

Section 2503 (b) Minor Trust Fund – Qualifies for the annual gift tax exclusion based on current limitations. Distributions of the trust income to the child or a custodial bank account must be made on a yearly basis or more frequent basis. Access to the principal at the age of 21 is not required.

Section 2503 (c) Minor Trust Fund – Qualifies for the annual gift tax exclusion. All the money (both principal and income) in the trust must be transferred to the child at the age of 21.

How To Set One Up

There is a lot to consider when setting up a trust fund for your children. Not only are there legal and tax issues to consider, but you’ll also have emotional impact to think about. For example, you’ll need to consider the individual personalities of your children. Do you believe they will be mature enough to receive a significant distribution of assets at the age of 21? If the answer is no, you’ll want to avoid the Section 2503 (c) fund.

Seek out the counsel of a qualified estate attorney during the process of setting up your trust. Their experience with the federal and state laws will ensure you, your children, and your assets are adequately protected.  

 

Do you have any experience setting up a trust fund for your kids? Tell us about it in the comments below.

Read more:

How to Prepare a Living Trust & Will for a Single Parent

7 Key Ways to Save for Your Kids’ College Education

Child Savings – More Than Money in the Bank

Four Money Habits You Need To Teach Your Children

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money habits for kids

If you want your child to grow up as a financially independent adult, start teaching them money habits young. Today, I’m talking about four money habits you need to teach your kids if you don’t want them living at home until they’re in their thirties.

1. Delayed Gratification

As technology has changed throughout the years, we’ve adapted to receiving instant gratification. Think about how irritated you become when it takes longer than two days to receive a shipment. Thanks, Amazon Prime! When you don’t know an answer, it takes less than 60 seconds to search for the answer. Thanks, Google!

While these are amazing benefits of living in our modern world, having instant access to whatever we desire can lead to bad habits. Force your children to wait for something they want, even if it’s just a few minutes. For example, increase their allowance by 10% if they wait for payment on Saturday, instead of Friday. Small changes in your day-to-day living that delay access can lead to increased resistance to instant gratification for your child.

2. Compound Interest

Go beyond teaching your children the value of saving. Teach them the benefits of saving early, specifically how compound interest can grow their money over time.

You’ll want to keep the concept simple and age-appropriate. You can pay compound interest on their allowance while encouraging them to save up for something specific (say the latest video game). If you’re struggling with coming up with a way to teach them, consider this marshmallow game.

3. Live Below Your Means

I know with my kids, the minute I hand over their allowance, they’re already figuring out how many Pokemon cards they can buy. I have to remind them to split their money up into giving, spending, and saving categories. We even have these special piggy banks to make it fun.

While using this 3x concept, they’re learning to save and give, which is amazing. However, I’m more interested in teaching them to live below their means. When they get ready to buy their first home, I want them to laugh at what the bank is offering them for a mortgage. They’ll instinctively know that they don’t want to spend as much as they can afford. Instead, they’ll understand the value in living below their means, so they have additional money to fund their emergency fund and to put in the church plate, and to help a friend out in need without requiring them to repay the loan.

4. Creating A Positive Money Story

As we grow into adults, we create our own money story, and that money story is directly attributable to how we spend and save our money. Help your children the best money story for themselves, one that will provide them with a strong sense of balance between saving and spending.

While her program is not kid-related, Natalie Bacon’s course, Money Mindset for Her, is where I learned how my money story was leading to poor money habits, specifically to overspending. She taught me to change that story, and it continues to have a positive impact on my life a year later. If you’re not clear on your money story, consider giving her course a try. Then teach the principles to your kiddos. And even better, teach by example.

Do you have any additional money tips for kids? Let us know in the comments below.

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3 Unexpected Options for Stay At Home Moms to Make Extra Money

These Retailers Are Hiring For the Holiday Season

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Hiring for the holiday season

If you’re working your way through a mountain of debt, the best strategy is to prioritize income growth over cutting expenses. Ideally, you’ll do a mixture of both, but focusing on growth has a long term benefit.

You can increase your cash flow through a side gig, a promotion, selling clutter around your house, or from a second job. If you’re looking at the latter, you picked a good time. The holiday season is now, and retailers are looking to supplement their staffing schedules with able bodies.

Moreso, 2019 has a shortened holiday season due to a late Thanksgiving. In an attempt to lengthen the shopping season, retailers are rolling out sales and promotions early this year, so the hiring has already started.

Seven Retailers that Are Hiring for the Holiday Season

1. American Eagle Outfitters
2. Dollar Tree
3. Dick’s Sporting Goods
4. The Gap
5. Michael’s
6. Kohl’s
7. Target

According to Retail Dive, a publication dedicated to the retail industry, each of the above retailers is hiring at least 8,000 employees (Dick’s) and up to 130,000 (Target) employees during the holiday season.

Delivery Drivers Are Hiring

UPS, Fed Ex, and the US Postal Service are hiring, too! All those Amazon packages need to be delivered. As internet sales continue to rise, the demand for drivers has increased accordingly. Particularly, since Amazon now offers same and next day in many locations.

Money Making Apps

Do you have the entrepreneurial spirit? Hoping a seasonal gig might blossom into something robust enough to replace your day job? The sharing economy makes it possible to start small, dip your toes in the water, and try it out. The holiday season is the perfect time to experiment.

Become a driver for Uber or Lyft. Grocery shop for a frazzled working mom relying on Instacar or Shipt to deliver groceries while she cooks an amazing Thanksgiving dinner for her extended family of 40. If you’re skilled in a particular area, pick up jobs on TaskRabbit or BlueCrew.

Tips to Getting Hired This Holiday Season

Start now

The holiday hiring season starts early. The sooner you get your application in the door, the better. But also, don’t assume it’s too late.  Retailers may hold back their hiring early in the season, only to increase their numbers if the shopping demand comes to fruition.

Attend an Open House or Job Fair

Many retailers will hold an open house for the purpose of mass hiring. Check their website for the next available date. If you can’t find anything on their website, visit the store locally and ask to speak with the manager.

Tell Everyone You Know

Tell your mom, your brother, your neighbor. Let them know you’re looking for some additional work for the holiday season to boost your savings account. You’ll be surprised who has a cousin that works at Target or an uncle looking for someone to help clean out his garage.
Networking doesn’t have to be attending an event and handing out a business card. The best networking comes through genuine conversations.

Have you taken a second job specifically during the holidays? Let us know in the comments below.

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Are Grocery Delivery Services Worth It?

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grocery delivery service
As the gig economy continues to grow, more and more services are being offered to provide you with the opportunity to never leave your house. One of the delivery services that continues to grow and is being provided by more and more companies is grocery delivery. Some of the top companies are Instacart, Shipt, and Walmart.  Thrive Market is a great organic option.

But the big question on our minds is – is it worth it?

Does Grocery Delivery Service Save Time?

Yes, it does.

Consider the time it takes to drive to the grocery store, plus park, grab a shopping cart, and walk up and down the aisles. Depending on the time you visit the store, you may have to stand in line, then walk back to the car, load up your groceries, and drive home.

With grocery delivery service, you need to spend a few minutes with your computer, selecting your items and putting them in your virtual cart. Thus, the time doesn’t decrease from 60 minutes to 0, but the savings are tremendous.

Does it Save Money?

The short answer is it depends. Considering it saves time, then yes, because time is money.

Yes, if you’re an impulse shopper. Having your groceries delivered can bring savings to your budget. Consider how often you’re going down the aisle and toss a few things in your cart. Each time you deviate from your list of groceries, you hike up the total cost — usually resulting in exceeding your food budget.

Where I believe a grocery delivery service does not save money is if you are NOT an impulse buyer and are good at spotting deals, shopping from the discount aisle (especially meat). Or, if you’ve got the time and the desire to shop multiple stores.

Also, any fees you pay for the service and any tips you give to your shopper will eat into your savings and possibly cost you more. In this case, it will be your decision whether the time savings, avoidance of crowds, and convenience factors make it worth it. At this point, it becomes a personal preference.

Because personal finance is personal.

An Alternative to Grocery Delivery Services:

If you love the convenience of grocery delivery services, but don’t want to pay the fee, or the tip, consider something similar – grocery pick-up services. Walmart, Target, and Harris Teeter all offer grocery pick-up service. Walmart and Target are free; Harris Teeter charges a nominal fee.

It follows the same concept as a delivery service – you order your items online and schedule a time for pick-up.

Pick-up is my personal preference as I’m an impulse shopper. Ordering online allows me to avoid purchasing things I don’t need, yet I still save time. I pick up my groceries while I’m in the area. Often there is a longer wait than I prefer, but I use that time to read a book or get some work done.

Do you use a grocery delivery service? Let us know in the comments below.

Read More:

The Average Grocery Bill for a Family of Four (and How to Save on Yours)

Meal Planning For A Family On A Budget

How to Become a Couponer: A Beginner’s Guide to Help Get Started

The Average Grocery Bill for a Family of Four (and How to Save on Yours)

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average grocery bill

Do you ever read those outrageous headlines that read, “How I Feed My Family of Seven on $75 a Month” or something similar? They always manage to make me feel like I’m missing something. The grocery bill for my family (of four) would never come close to being that small for one month. Therefore, it got me thinking.

What is the average grocery bill for a family of four?  

The Food and Nutrition Service of the US Department of Agriculture provides guidelines based on “a nutritious diet where all meals and snacks are prepared at home.” The guidelines are based on four levels of spending: thrifty, low-cost, moderate, and liberal. Furthermore, they are divided by age and gender.

According to the FNS, a four-person family made of one female age 35, one male age 37, one boy aged five, and one girl aged eight would have an average monthly grocery bill between $612 and $1,707. By comparison, the break-down between plans is $612 on the thrifty plan, $792 for the low-cost plan, $989 under the moderate plan, and $1,207 under the liberal plan.  

Admittedly, $1,000 on a moderate budget for a family of four eating solely at home seems high to me.

However, if you factor in organic food and the cost of living in highly populated cities such as San Francisco, Los Angeles, and NYC, this seems more reasonable.

Three tips to decrease your grocery bill

Each year, the cost of food rises. Typically with the cost of inflation, but often more due to the state of the economy and other factors such as natural disasters and other weather-related incidents. However, when trying to cut expenses in our budgets, groceries are one of the first places we look.

If you find yourself on the high end of the averages listed, here are three tips to help offset some of the rising costs and/or bring down your grocery bill.

1. Meal Plan

Meal planning is one of the best things you can do to eliminate food waste and to spend your grocery dollars with intention. Try planning one week at a time, including multiple meals with the same type of protein, which allows you to buy the most expensive item on your meal plan in bulk.

2. Use Money Saving Apps

Couponing has gone digital. Specifically, Ibotta, Fetch Rewards, and Checkout51 are a few of my favorite money-saving apps. Sit down with the meal plan you created above and add any items on your list directly through the app. Scan your receipt after you shop and instantly save. After you’ve accumulated so much in savings, you can transfer it in the form of PayPal or gift cards. It takes some time to get used to, but I’ve found them to be worthwhile.

3. Shop Your Pantry

Before you sit down to meal plan, take a look around your refrigerator, your freezer, and your pantry. I guarantee you have enough for one meal. You may have to get creative and hodgepodge a few items together, but you’ll be surprised how much you already have on hand. Not only is it a great way to reduce your grocery bill, but also be a good steward of the environment.

 

How much is your average grocery bill in your family? Let us know in the comments below.

Read more:

Meal Planning For A Family On A Budget

How to Become a Couponer: A Beginner’s Guide to Help Get Started

Experts Say That These Are the Most Unique Ways to Save Money in 2020

 

Four Legitimate Work From Home Jobs For Moms

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Last week I talked about three ways moms can make extra money. I want to continue the discussion with additional jobs to make money, notably work from home jobs. Court Transcript Proofreader They're, their, there - if you know the difference between these three words and have an eye for detail, proofreading court transcripts may be just the thing for you. Court cases typically have transcripts that document the court proceedings word-for-word. A court reporter captures the live conversation during a court proceeding with a stenotype. Because the reporting is simultaneously typing and listening, there is room for error. That's where a proofreader adds value to the process. The great thing about transcript proofreading is you are reviewing someone else's work. Your primary tool will be an iPad and your existing skillset. English teachers are great candidates for this side gig, as are you if you're the kind that scours social media comments for incorrect grammar. If this is something that interests you, check out Proofread Anywhere. Caitlyn Pyle s a former court transcript proofreader who created a course to teach you to do the same. She shows you both the skill, as well as how to find clients. There is a free quiz to see if it's something you have an aptitude for and might enjoy. You can do this job from anywhere - your couch, the car while at your son's soccer game, or on the plane to Disney World. Life Coach Do your friends and family come to you for advice? Do you like to serve and help people? Are you big on self-improvement? If you answer yes to each of these questions, you may want to consider becoming a life coach. A life coach is someone who helps others with struggles in their life and provides guidance and direction to lead them where they want to be. A life coach may be a generalist or may specialize in weight, business, or even organization. It's different from therapy but can serve as a partner to a mental health professional. Life coaching is an up and coming profession. Brooke Castillo likens it to the rise of the gym. In the 70s, no one had gym memberships. As health and personal care started to rise in the 80s and 90s through to the present, now everyone has a gym membership. Think of life coaching as the present-day equivalent of a gym membership. In a decade or so, everyone will have a life coach. There are many avenues available to become a life coach. Tony Robbins has a program, as does Martha Beck. Brooke Castillo has one of the best programs, and I'm a big fan of her podcast. A great example of a successful life coach who makes seven figures working from home three days a week on her business, while a full-time mom of 4 is Jody Moore. She is a student of Brooke's and is evidence a life coach is an excellent work from home options for moms. Pinterest Virtual Assistant Do you love social media? Is Pinterest your preferred search engine? You should think about making money off your love of Pinterest. Along with the rise of internet businesses and blogs, social media has blasted in growth as a marketing tool, Pinterest continues to grow. The reason Pinterest, such a popular marketing tool, is it's a legitimate search engine, just like Google. Online entrepreneurs recognize the value of Pinterest to their bottom line but don't want to spend the time building their Pinterest presence. As a result, you can capitalize on this need by creating Pinterest graphics typically through PicMonkey or Canva, creating pins for their blog articles or merchandise for sale, tagging the appropriate keywords, and creating descriptions. You can also set up and optimize their profile and Pinterest profile. As a Virtual Assistant specializing in Pinterest, you can work from anywhere there is internet, most importantly, from home while your toddler is sleeping. Since Pinterest is a 24/7 gig, you aren't required to keep 9 to 5 hours. Interested in learning more? Gina Horkey and Kristen Anderson have a great class called Pinterest VA. Bonus - if you love video, you can broaden the scope of your services to include YouTube. You can offer virtual assistant services for just about any social media platform or project management needs. Capitalize on your 9-to-5 skills Do you have a college degree? Did you work a traditional job before becoming a SAHM? I bet you have skills that are marketable that you can do from home. You also likely have a built-in client base and network you haven't thought of as such. Let's say you were a journalist in your working days. You can reach out to your old boss and request some freelance writing work. Perhaps you were an accountant and know your former employer needs some part-time work during tax season. Put a proposal together to offer your services as an independent contractor. In your proposal, note that you already have a working space (because your dining table counts) and high-speed internet that would allow you to work from home. Maybe you can market your skills to the public. If you were a chef pre-kids, and want to share your love of vegetarian cooking for kids, create a blog and sell an online course for a stream of passive income. The opportunities are endless with your current skillset. Brainstorm your skill sets and find one that you can offer from home, then market it. You may have to think outside the box, but the rewards are worth it. Do you work from home as a mom? Share what you do and how you got started in the comments below.

Last week I talked about three ways moms can make extra money. Today I want to continue the discussion with additional jobs to make money, specifically work-from-home jobs.

Four Legitimate Work-From-Home Jobs For Moms

1. Court Transcript Proofreader

They’re, their, there – if you know the difference between these three words and have an eye for detail, proofreading court transcripts may be just the thing for you. Court testimony is often transcribed word-for-word for future reference. A court reporter captures the live conversation with a stenotype. Because the reporter is simultaneously typing and listening, there is room for error. That’s where a proofreader adds value to the process.

Your primary tool will be an iPad and your eagle eye for grammatical errors. English teachers are great candidates for this side gig, as are you if you’re the kind that scours social media comments looking for the wrong use of the word “affect”.

If this is something that interests you, check out Proofread Anywhere. Caitlyn Pyle s a former court transcript proofreader who created a course to teach you to do the same. Included in the course is how to find clients. There is a free quiz to see if it’s something you have an aptitude for and might enjoy.

If court transcription proofreading doesn’t thrill you, you can also provide proofreading services to blogs, books, and website copy. These avenues are often less technical than court transcription proofreading.

As a mom, you can do this job from anywhere – your couch, the car while your son is at soccer practice, or on the plane to Disney World.

2. Life Coach

Do your friends and family come to you for advice? Do you like to serve and help people? Are you big on self-improvement? If you answer yes to each of these questions, you may want to consider becoming a life coach. A life coach is someone who helps others with struggles in their life and/or provides guidance and direction to lead them towards their personal goals. 

A life coach may be a generalist or may specialize in weight, business, or even organization. It’s different from therapy but can serve as a partner to a mental health professional. Life coaching is an up and coming profession. Brooke Castillo likens it to the rise of the gym. In the 70s, no one had gym memberships. As health and personal care started to rise in the 80s and 90s, a gym membership became the norm. Think of life coaching as the present-day equivalent of a gym membership. In a decade or so, everyone will have a life coach.

There are many avenues available to become a life coach. Tony Robbins has a program, as does Martha Beck. Brooke Castillo has one of the best programs, and I’m a big fan of her podcast. A great example of a successful life coach who makes seven figures working from home three days a week on her business, while a full-time mom of four is Jody Moore. She is a student of Brooke’s and is evidence a life coach is an excellent work-from-home options for moms.

3. Pinterest Virtual Assistant

Do you love social media? Do you spend your free time scrolling Pinterest for your next recipe? You can earn an income off your love of Pinterest. Along with the rise of internet businesses and blogs, social media has taken in growth as a marketing tool. Pinterest continues to rise and is a popular search engine alternative to Google. 

Online entrepreneurs recognize the value of Pinterest to their bottom line, but don’t want to spend the time building their Pinterest presence. As a result, you can capitalize on this need by creating Pinterest graphics . You don’t need a graphic design degree. You can create professional looking graphics using free tools such as PicMonkey or Canva.

As a Pinterest VA, you’ll create and upload pins for blog articles or merchandise for sale. You’ll create pin descriptions using appropriate key words and possibly optimize your clients Pinterest profile.  A VA can work from anywhere and anytime, so makes a perfect option for moms to generate extra money. 

Interested in learning more? Gina Horkey and Kristin Larsen have a great class called Pinterest VA. Furthermore, as a VA you can offer virtual assistant services for just about any social media platform, such as Instagram, Facebook, or You Tube.  

4. Capitalize on your 9-to-5 skills

Do you have a college degree? Did you work a traditional job before becoming a SAHM? You likely have a set of marketable skills that can be done from home. You probably also have a built-in client base and network you aren’t even aware of.

Let’s say you were a journalist in your working days. You can reach out to your former boss and request some freelance writing work. Perhaps you were an accountant and know your former employer needs some part-time help during tax season. Put a proposal together to offer your services as an independent contractor. In your proposal, note you already have a working space (because your dining table counts) and high-speed internet that would allow you to work from home.

You can also market your skills to the general public. If you were a chef pre-kids, and want to share your love of vegetarian cooking, create a blog and sell an online course for a stream of passive income.  Market to other moms who are trying to teach their picky children the value of a vegetarian diet.

The opportunities are endless with your current skillset. Brainstorm your skill sets and find one that you can offer from home, then market it. You may have to think outside the box, but the rewards are worth it.

 

Do you work from home as a mom? Share what you do and how you got started in the comments below.

Read more:

6 Must-Haves for Working Moms Who Breastfeed

3 Unexpected Options for Stay At Home Moms to Make Extra Money

Get Some Extra Cash: 9 of the Best Ways to Make Money From Home

   

3 Unexpected Options for Stay At Home Moms to Make Extra Money

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side hustles for moms

Perhaps you were a career girl before you had babies. Or you were a young mom and never had a chance to build a working network. Either way, you decided there was nothing more valuable than staying at home to raise your family. Admittedly, however, you’re a little bored or strapped for cash. If you’re wondering how you can make extra money as a stay-at-home, I’ve got three possibilities that aren’t the usual options you’ll find in your Pinterest search. Don’t expect to find blogging on this list.

Bookkeeping

If you think a degree is required to be a bookkeeper, think again. Bookkeeping is a learnable skill if you have an eye for detail. The bookkeeping field has started to change as software (Quickbooks and Xero) has emerged to make it simpler for the small business owner.

However, while the software lends a helping hand, many business owners don’t a) have the desire, b) have the time, and c) want more understanding of what they’re looking at. As a result, you’ll send the bookkeeping field start to shift to a flat fee work from home field, rather than a low paid hourly rate brick and mortar store. This provides you with the flexibility to work from home and stay in control of your schedule. Both essential requirements for stay-at-home moms.

I recommend investing in a course to learn the basics of bookkeeping, as well as learn how to build an online business and find clients. It can be pricey, but certainly not to the level of a semester of college. Bookkeeper Business Launch is a course you should consider. They’ve got a great support community and it’s an overall amazing program. I’ve personally taken it, and as a former CPA, I can recognize it’s value. I highly recommend it if you’re interested in exploring this as an opportunity to build your own business.

Sell Your Own Product

Have you ever dreamed of selling your own product? You can! You can sell anything from wine to supplements to shower curtains with your very own label, all from the comforts of home. This is done via the private label industry.

Private label is the process of working with a manufacturer to produce a product to sell based on your specifications. You add a label on it and sell it directly to the public. You’ll want to stick to basic items that sell well on platforms such as Amazon and eBay. They should be light in weight and not fragile to ensure they ship well.

Once you decide on your product, find a manufacturer. Alibaba is a great place to start. You’ll also want to design a logo, label, and packaging. Finally, you’ll need a platform to sell. Amazon FBA is a popular and simple option. Or you can go all-in and sell through your own website.

Rent Baby Gear

As a stay-at-home mom, you likely have some baby gear at your disposal. You can sell it on Craigslist or Facebook marketplace, but there’s another option you may not have heard of. While not exactly an option that will allow you to stay at home, and requires a bit more flexibility – you can bring your children along.

BabyQuip is a baby rental company set up very much like Uber and Lyft. You provide the baby gear, and they provide the website and marketing. A tourist visiting your town that isn’t interested in hauling a crib, a car seat, and toys on their vacation can go to the website and rent the gear. You deliver the gear based on the hours you’ve set and receive 80% of the rental fee plus a delivery charge.

There’s minimal risk with this business model as the customer pays their order upfront which you can use to purchase any items you don’t have. If and when you decide to quit renting, you can sell your inventory, possibly at break-even. I was a BabyQuip quality partner for a little over a year. During my busiest month, I netted a $700 profit with minimal time investment.

Have you tried any of these side hustles to make extra money? How did you like it? Let us know in the comments below.

Read more:

7 of the Best Ways to Make Money on the Side With a Full Time Job

How A Side Hustle Can Save Your Family’s Budget

Get Some Extra Cash: 9 of the Best Ways to Make Money From Home

Meal Planning For A Family On A Budget

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Meal Planning For A Family On A Budget
Meal planning is the holy grail of the kitchen. The most organized of moms have weekly meal plans prepped somewhere between chaperoning their kids to a myriad of extracurricular activities. You can’t help but wonder how they do it? How do they meal plan for a family on a budget.

But every time you try to pull a meal plan together, it seems more expensive than when you wing it. You’re on a budget, so you need to stick to a reasonable cost per meal, and you’d like some leftovers for lunches. You know there has to be a better way.

Five Tips to Help You Meal Plan For A Family On A Budget

1. Start By Cleaning Out Your Fridge

Before you start your meal plan for the week, open up your fridge, freezer, and pantry. Notice what leftovers you have and plan a meal based on those items. You’ll probably find you have all or most of the ingredients you need for an entire meal. 

This process kills three birds with one stone. One, it allows you to clean out your fridge. Two, you’re less wasteful of the food you’ve purchased. And three, you can save on your weekly grocery shopping. It’s a win-win-win.

2. Rotating Menu of Quick Meals

Make a list of 4 or 5 meals that your family likes and that can be made super quick. For example, every member of my family will eat pizza, anytime, anywhere. As such, there are always 4 or 5 frozen pizzas in our freezer. Other quick and easy dinners include spaghetti and meatballs, grilled cheese and tomato soup, chicken alfredo, and cheeseburger casserole.

Once you have your list complete, always make sure you have the ingredients for these meals on hand. The best practice is to buy them in bulk when they go on sale. Rotate one or two of these meals into your meal plan for the week for an easy, budget-friendly option you know your family will eat.

3. Change Your Life Chicken

The first time I read about Change Your Life Chicken from Kendra Scott of The Lazy Genius – I didn’t think I’d like it. But it seemed so simple that I decided I’d give it a shot. And guess what? I not only liked it, but I loved it.  It’s now a staple on the rotating meal plan in my house.

It’s inexpensive because it uses chicken thighs, it’s easy to make, super simple to clean up, and uses up any leftover vegetables in the fridge. Another good thing about it is the ability to change it up based on what your family likes, or to add variety from what you had last week.

Check out the recipe here and incorporate a version of Change Your Life Chicken into your meal plan once a week. It’ll change your life!

4. Breakfast for Dinner

Who doesn’t love pancakes and bacon for dinner? Breakfast for dinner is a great budget-friendly meal to incorporate into your meal plan once a week. It’s also a good meal for your kids to help out with. They can mix the pancake batter, or whisk the eggs for omelets.

I typically make breakfast for dinner on Sunday nights. We always nap after church so don’t like to eat a heavy meal in the evening.  Breakfast for dinner is is a fun, light meal to whip up together as a family and close out the weekend with.

5. Purchase Budget Meal Plans

If you’re not a creative cook and struggle to pull meal ideas together, consider buying one. Meal plans for sale are are crafted with intention. They pull together similar ingredients so are often budget-friendly and the cost is typically minimal because they’re prepared by seasoned experts.

Some of my favorite meal plans are $5 dinners, MyFreezEasy, and Momables. If you’re interested in taking an online course, I highly recommend Erin Chase’s Grocery Budget Makeover.  I personally took this class and was able to immediately apply some of the concepts to my budget. (contains affiliate links)

Do you have any tips for planning your meals on a budget? Share them in the comments below.

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Fun Ways to Mark the End of Summer Vacation

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Summer is ending and school is beginning. Some kids have already started school. There is still time to celebrate the end of summer. Some people use Labor Day weekend as their end, but you do it when it feels right. I like to do it before school is back in session, that is before Labor Day here. There are all sorts of things to do to prepare for the weather changes. Here are some of my favorite ways to celebrate.

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