Tag Archives frugal living

Don’t Let Your Kids’ Activities Kill Your Budget This Fall

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This past month, my daughter was thrilled to be promoted to the next level of gymnastics. I was thrilled for her until I learned that the next level meets twice a week and, of course, also costs more. More time, more money.

 

It’s amazing how much kids activities cost and how quickly they add up. With school starting again, parents have to prepare to be nickel and dimed to death. It’s not just the gymnastics classes, it’s the $25 snack fee, the fundraiser that you have to participate in, the dozens of brand new #2 pencils you have to buy, and the extra cost to be in the school band. What can you do to survive the back-to-school tidal wave?

 

Ask For A Discount

If you really cannot afford something, don’t be afraid to ask for a discount. Most schools offer free or reduced priced meals to families who meet the income requirements. They can also help you with or waive all of the other little fees, like for snacks and yearbooks.

 

Sports and classes also offer discounts, especially if you have more than one child participating. If you have three kids who want to do karate, the dojo is more likely to let all three attend for the price of two than to lose you as a paying customer completely. Usually, deals and discounts are not advertised, so you’ll have to suck up your pride and ask. Just say, “Do you offer any scholarships or discounts?” The worst thing that can happen is that they say no.

 

Have Them Pay

If your son wants to play flag football and you can’t fit it into your budget, have him help out. Even if they aren’t old enough for a regular job, teens and tweens can earn money babysitting, doing yard work, teaching older people how to use their electronics, and the like.

 

I remember when my older brother wanted $100 basketball shoes growing up, my parents made him pay for half. I’m sure he valued them and took better care of them than he would have if they had just been given to him. Not only can it help your budget, but it will teach your teen to work and give him the opportunity to practice the adult skill of weighing opportunity costs and making decisions.

 

Create Teachable Moments

Money is a finite resource, and the sooner we teach that to our kids, the better off they will be. When my daughter wanted to do swimming, karate, gymnastics, and play soccer, I could have just told her no. But what would that teach her?

 

Instead of simply saying no, I explained that each activity costs a lot of money. We don’t have enough money to do everything. So, she needed to pick the one thing that she wanted to do most. It taught her that money is finite and also gave her the opportunity to practice making decisions for herself.

 

When my son was selling coupon books for a fundraiser, he wanted to sell enough to win a big prize. He was disappointed that I wouldn’t just buy 10, but I wanted him to get more than just a cheap toy from it. I explained that if he really wanted the prize, he could go door to door in the neighborhood to sell the coupon books. I would go with him, but he would have to ring the doorbell and do all of the talking. It was a great learning experience for him.

 

Maintain Your Priorities

It’s easy to get caught up in all of the “needs” that kids have. Especially, when all of the other kids have the same thing, are doing the same thing, or if your child is a persistent whiner. (Remember, the Bible promotes that!) However, it’s important to keep the big picture in mind and stand your ground.

 

Eating a family meal together is very important to me, for both nutritional and relational reasons. Even if my kids show talent, I’m not going to sign them up for activities during dinner time. I’m willing to move dinner a half hour earlier once a week, but feeding my kids granola bars in the car while we run from one activity to the next just isn’t going to cut it with me. Family dinners are more important to me than kids’ sports.

 

It works the same way with financial priorities. If missions giving or saving for college is a priority for you, don’t give it up so that your daughter can be on a traveling soccer team. If soccer is a priority, though, by all means, put her on the team! Just know your values and establish your priorities, and make everything else submit to them. Remember, the most common regrets that parents of grown kids have are about not spending enough quality time with their kids, not that their kids missed out on certain classes or activities.

 

While back-to-school is a time of mixed emotions, don’t let anxiety over your budget be one of them. These are my suggestions, how about you? Do you have any of your own? Let us learn from you too; please share in the comments your own wisdom and experiences. Thanks!

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How To Save Money By Auditing Your Expenses

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Clinging to familiarity to stay in our comfort zone can cost us a lot of money. We don’t like change, but it’s important to audit your expenses from time to time to see if you can get a better deal on something or completely eliminate it.

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How To Celebrate Administrative Professionals Day For Free

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Next Wednesday, April 25, is Administrative Professionals Day. Formerly called Secretaries Day, it was begun about 70 years ago to appreciate certain office workers who are often taken for granted. While it isn’t as popular as Christmas and Easter, those that it honors really appreciate it.

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The Most Under Priced College Credit Out There

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Though it doesn’t feel like it yet, fall is on the way and colleges across the country are getting back into the swing of things. And parents and students alike are writing some of the biggest checks of their lives.

 

About 10 minutes from my house is WSU Vancouver, where classes start today. Over there, people are shelling out about $500/credit this term.

 

Would you believe me if I told you that you could earn credit towards their degrees for only $33/credit?

 

Yep, it’s true. I didn’t attend WSU specifically, but I earned 18 credits that they accept towards their degrees for only $33/credit. I even earned 6 credits for half that, a whopping $17 per credit.

 

Am I some sort of higher education financial contortionist? Not really, though it sounds cool. Am I blackmailing the dean? Never! (I’m offended that you’d even think such a thing!)

 

Then how did I accomplish this fiscal magic? Let me tell you about a little thing we alternative education junkies like to call credit-by-exam (CBE).

 

What Is Credit-By-Exam?

CBEs are the most amazing thing that ever happened to self-motivated, cost-conscious college students ever. And I’m not exaggerating.

 

As the name implies, it is basically a way of earning college credit by taking an exam. This is how it works:

 

  1. Choose an exam.
  2. Make sure your school accepts it for credit.
  3. Study the material that the exam covers.
  4. Pay an exam fee, take the exam and pass.
  5. Have the information sent to your school.

 

Voila! The cheapest college credit you can get anywhere. How cheap? Most exams cost about $100, depending on the fee that the testing center charges. All of the ones I took were $100 and were worth 3-6 credits each.

 

Who Can Earn Credit-By-Exam?

Now, this isn’t some special privilege offered only to an elite few. In fact, my first-grader could do this. I doubt he’ll be doing it this year, but he probably will during high school. A lot of teenagers, especially homeschoolers, use CBE as a way to jump start their college careers and save some money.

 

There are no age restrictions for CBEs, but there are certain qualities required for success. Test providers often don’t offer any more than a two-page outline of the content covered. You need to be able to find the necessary information on your own. Thanks to the internet, this is really easy. I utilized a subscription service that had flashcards and study materials that were exam-specific.

 

You also need to be disciplined and self-motivated. Unless your mom is helping you, there will be no one telling you what to do and when. You need the inner strength to get your studying done sans accountability. Of course, you could always find an accountability partner or a friend to work with.

 

Where Can I Find These Exams?

There are several different providers of CBEs. Here are your options:

 

College Level Examination Program (CLEP)

The largest provider of CBEs is the College Board, the same people who offer Advanced Placement exams for high school students. They offer 33 exams in the categories of Composition & Literature, World Languages, History & Social Sciences, Science & Mathematics, and Business.

 

DSST (formerly DANTES Subject Standardized Tests)

Back in 1974, the US Department of Defense began offering academic testing to service members. Later Prometric took over the tests from the government, and in 2006 they were made available to civilians as well. Now, they offer 36 exams in the categories of Business, Humanities, Math, Physical Science, Social Sciences, and Technology. According to their website, DSST exams are accepted by over 1,900 institutions across the country.

 

Thomas Edison Credit-By-Exam Program (TECEP)

Thomas Edison State University (TESU) is a New Jersey public university designed with the adult learner in mind. They have their own CBE program, offering 40 exams in the categories of English Composition, Humanities, Social Sciences, Natural Sciences/Mathematics, Business and Management, Computer Science Technology, and Applied Science and Technology. You do not have to be enrolled at TESU to take a TECEP exam, but they are cheaper for matriculated students.

 

UExcel Excelsior College Examination Program

Excelsior College, another well-known school for adult learners, also has an examination program that offers 55 exams. Like TESU, you don’t have to be a student to take advantage of their examination program.

 

CSU Global CBE

Colorado State University has been an early adopter of alternative education among brick-and-mortar schools. As such, they now offer a number of CBEs. Theirs are more expensive, at $250 for a 3 credit exam, but still a good deal. The offer exams in Accounting, Communications, Criminal Justice and Law Enforcement Administration, Emergency Management, Finance, General Education, Healthcare Administration and Management, Human Resources, Human Services, Information Technology, Management, Management Information Systems, Marketing, Operations Management, Organizational Leadership, Project Management, Public Management, Public Relations, and Sociology.

 

NYU Language Exams

If you speak or have studied another language, then you can take advantage of New York University’s language exams. They offer three different tests, either worth 4, 12, or 16 credits, in over 50 languages. This is a great way to earn easy elective credits for the multilingual.

 

Things To Watch Out For

If you decide to embark on the challenging journey of CBEs, there are a few things you need to watch out for.

 

First of all, you need to make sure the school you want to graduate from accepts the credit before taking the exam. CLEP and DSST exams are accepted at most schools. WSU, that I mentioned above, accepts all but 3 of the CLEP exams. The exams offered by specific schools aren’t as widely accepted, but it never hurts to ask.

 

Also, you need to check on how many CBEs your school will accept for credit. Some schools limit the amount of credit they will give for CBEs. You don’t want to take a test that won’t count towards your degree.

 

Finally, make sure the CBE will actually count towards your degree. Several exams may give you credit for the same course, so you would only want to take one of them. Your degree program will only include a limited number of electives, so make sure your CBEs will transfer over as required courses and you don’t end up with a lot of unusable credits.

 

I absolutely love CBEs. In addition to the cost savings, they allow you to work at your own pace. When I finished my business degree, I was able to earn 2 ½ years’ worth of credits in 9 months, mostly because of the CBEs.

 

If you are or have played with the idea of earning a degree, or you have kids who are in college or heading there soon, you need to look into CBEs. If I had attended WSU, with only the 6 CLEPs that I took that they accept, I would have saved about $8,400. Wouldn’t you like to do the same?

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