School’s out! So, what to do with the kids that’s fun (for both you and them) and not going to break the bank?

Crafts!

Get started now working on homemade birthday and Christmas cards and gifts.  Check out your local dollar store to find crafting supplies for a lot less than the speciality scrapbooking or craft stores.

Check out the internet for lots of craft ideas for all ages. If the kids are old enough, maybe teaching them to knit, sew, or crochet will give them even more ways to be creative!

Have a restaurant or store that you absolutely love? Go to their website and see if they have a mailing list. Join it and they may send you notifications of sales and even coupons!

Photographers equipment and workflow costs alone are huge. Then there are batteries, flash cards, an assistant, wear and tear on their vehicle, insurance coverage, and the hours of work on and after the wedding that they factor into their pricing. On top of that you then pay for the creative talent of the photographer. You can save money on enlargements and albums but don’t penny pinch when it comes to the photographer. After your wedding day, the only things you have left are your pictures and your video. These are the only 2 services that last a lifetime and can be passed down to the next generation.

• Biggest tip – hire a photographer that gives you your digital high resolution files, that way you can make as many copies of pictures from your wedding day as you want without having to order them from your photographer.
• If you choose a photographer that does not give you your files, always find out how long they keep your files for, and ask if you can obtain them when they are ready to discard them. Most photographers in general don’t keep digital negatives past 3 years. Be prepared that some photographers still may charge a fee for providing your with the files. If its 3 years after your wedding, you can prepare for that fee and remember again that its the only memories of your wedding day.
• $1000.00 for a photographer is a great price but if they charge $40.00 for an 8 X 10, where’s the savings. Don’t just look at the photo packages or wedding day shoot costs, ask how much their enlargements and albums are.
• If a package includes a couple’s album and 2 parent albums, ask how much that same package would cost without any albums. Sometimes it’s worth the savings to buy your own albums elsewhere and sometimes it’s better to take the albums offered by your photographer.
• Unless you’re doing a formal shoot at the bride or groom’s house, you don’t need a photographer there. Your wedding party and family will have their cameras out anyway.
• A great idea is to not have the photographer stay for the reception. Saves a lot of coverage time. If you want to do this, simply do your first dance and cake cutting when you are introduced. The photographer can stay to capture that and leave at the point that you sit down for dinner.
• You don’t need your photographer to stay until 1am. Once the bouquet and garter tosses have taken place, there are no more major events to shoot. Your 1st & last dances look the same on film.

Thanks to A Cheap Chick for some additional wedding resources!

Check out: http://acheapchicksray.blogspot.com/2009/05/free-wedding-resources.html

Any more tips or resources you’d like to share? Please comment!

Any wedding planners out there? Connect with other women www.shesconnected.com

A net worth statement is a list of your assets and debts at a specific point in time. A net worth statement can offer lots of useful information in time for making RRSP contributions and other financial decisions.

Calculate your Net Worth:

Assets: chequing accounts, savings accounts, TFSA, RRSP, non-registered investments, GICs, etc. Also: your house, car (get the “black book value”), vacation and or investment properties, etc.

Liabilities: mortgage (your home and vacation/investment properties), personal loans, credit cards, student loans, car loans, etc

Add all your assets together and your liabilities together. Subtract your liabilities from your assets. This is your Net Worth.

Sometimes when you are just starting out (if you’re just out of university, for example) or when you just bought your house and the mortgage is high, it is possible to have a negative Net Worth. The goal is to pay down the debts and hopefully the assets will increase in value, increasing your Net Worth.

Annual updates help you track the percentage change in your net worth, and see how well you’re meeting your financial goals. It should be going up every year. You want your assets to increase and your liabilities to decrease over time.

You may want to increase your savings, pay down more of your mortgage, or pay off your debt. All of these things will increase your net worth.

From losing your job, to car/home repairs, to accidents, to illness and disability, an Emergency Fund is the best way to cover your butt in case of life’s problems.

How to start an Emergency Fund:

1. Decide how much you need. You should save 3-6 months of “Essential Expenses”. What are your “Essential Expenses”? Rent/Mortgage payment, Food, Car Payment, Minimum Debt Payment, etc Anything that you’d get into serious trouble if you didn’t pay. You may have cancel non-essential services (cell phone, cable, etc) until your back up on your feet.
2. Start Saving! Even $25 per pay check can go along way. Make the debit automatic from your bank account into a High Interest savings account. Don’t put into GICs or anything else where you won’t have good access to the money. But, don’t put the money somewhere where it’s too easy to access it, that will give you the temptation to spend it on non-emergencies.
3. Once you’ve reached your 3-6 month goal, you can stop the automatic payment if you like. But, when you’ve paid something out of the emergency savings, you should try and put that money back as soon as you are able.

Having an emergency account is an essential part of any Financial Plan. Start yours today!

One of the things that could cost you a lot of money for your wedding is the wedding favors. Unless, you Do It Yourself!

Some ideas:

• Find a box “template” online and fill it with a homemade treat like a cookie or cupcake. Make sure to tie a pretty ribbon and attach a tag.
• Print tags on your home printer to go on the favors, just hole punch and insert a ribbon.
• Get little jars or buckets (or box) and fill with jelly beans or chocolates.
• A seed packet or flower bulb kit.
• Fill a jar with the ingredients for a treat, like your favourite cookies. Don’t forget to add the recipe on the back of the tag!
• Fill a jar with homemade jam and print out labels (find a template online and look for sticker paper in a craft store).
• Create your own “Satchel”. Put some potpourri in an organza bag (find them at your local dollar store) and tie the ribbon. They’re great to stick in a drawer to keep clothes smelling fresh.
• Take the wrapper off a chocolate bar and print your own.
• Create your own bath salts. Use Epsom or sea salt and fragrance it with your favourite scent of essential oil. Put in a jar.
• Make your own soap or candles. Check the internet for a craft store near you for ingredients and classes.

Any more ideas? Please feel free to comment!

Are you paying the “Standard Rate” on your credit card? If you’ve been a good client (i.e. you haven’t missed any payments). Call your credit card company and ask them to lower your interest rate.

Do you have a credit card that gives you rewards like Airmiles or Cashback? If you take away these features and get a “No Frills” card that may automatically lower your interest rate, since credit card companies tend to charge a premium for these “special” cards. And, you may save extra money by forgoing an Annual Fee!