Merging Traffic (108)Matt and Ann are merging their households into one family. Matt brings a son and a daughter to the mix and Ann has a daughter. They’re expecting their first baby together and one of their biggest concerns is money.
Growing Family Facts:
- Most Americans move every five to seven years.
- The average cost of supporting a child for 18 years is $165,000.
Tips: Grocery Shopping Savings
According to Ellie Kay, one of the best places to economize is at the grocery store.
- Get cash from the ATM machine before you shop. Customers spend 20% more when using credit cards instead of cash.
- Highlight the expiration dates on your coupons with a marker. It makes them easier to read when you are rushing thru the store.
- Always use a list. People who buy only what is on their list save 35% more than those who shop without one.
- Every grocery store has sale items that may be selling for less that the store paid for them. Grab a store flyer and don’t miss out on these buys.
- Check the shelves above and below eye level. Stores hide some of their best bargains in out of the way places.
- And don’t be tempted by free food samples. People are twice as likely to make an impulse purchase once they have a taste.
Problem: Affording a growing family.
Solution: Stretch those existing dollars.
- Make a long-term plan.
- Reduce expenses and debt.
- Budget for the new baby
- Evaluate the necessity of both careers.
Tips: Stepfamilies
One out of three Americans is in a stepfamily. Here are five things that stepfamilies can do to make their bonds stronger:
- Have an annual portrait taken that includes all the members of your new family.
- Celebrate stepfamily day every September 16th. Stepfamilies in 25 states mark the day with big community picnics.
- Every Friday, have a casual dinner and a meeting to see if new family rules are working and how everyone is adjusting.
- Try a family game night. Take the phone off the hook, make some popcorn and play old-fashioned board games. You will learn a lot about each other.
- And look through old photos with your new family members. Show them that even though you weren’t there, you respect their family history.
Problem: Merging families.
Solution: Create a new family structure.
- Establish some firm rules.
- Understand things from the kids’ perspective.
- Prepare the kids for a new baby.
Contact Information:
Ellie Kay
Author, Speaker, Household Financial Expert
Ellie@EllieKay.com
www.EllieKay.com
Jeannette Lofas
Author and Therapist, PhD., CSW
Step Family Foundation
212-877-3244
Stepfamily@aol.com
Moira A. Rynn, M.D.
Medical Director, Mood and Anxiety Disorders Section
University of Pennsylvania, Dept of Psychiatry
215-898-4301
WeCare@mail.med.upenn.edu
www.Uphs.UPenn.edu/Psych
Resources:
How to Save Money Every Day
by Ellie Kay
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