Certainly, summer is the time for vacations, travel, family adventures and a savings tip or two for the kids along the way.
We just got back for a short trip to Naples, Florida a couple of weeks ago, (yes, if you are wondering, it was very hot) and just like after every other vacation, when we got home I wondered where did all of our money go. Between the airfare, the car and dinning out all time, we ended up spending more than I had planned on. The next time we go on vacation, I’ve promised myself that we will save in advance by opening a Vacation Savings Account at Hawthorne.
One of the vacations savings tips that I have passed on to Zach is to never buy anything in an airport. This conversation started, because on our way through the airport for our departure we walked by the airport book store and he saw the new and last Harry Potter book, Harry Potter and the Deathly Hallows.
He went on to tell me how much he wanted to read the book and that he just had to have it, (he is only six and is not capable of reading the 759 page book, but of course I did not want to tell him that). I explained that you should never buy anything in an airport, because it is always much more expensive. The book in the airport book store was $50.
Once we were sitting down waiting to board the plane, I took out my laptop and we looked on the Walmart web site to find that the book would only cost $17.86 if we bought it there. He could not believe the price difference. After seeing this he said that we would definitely need to wait until we got home (not that he had a choice, but it was nice that he could figure it out on his own).
Since we've been home, I let Zach buy the book at Walmart with some allowance the he has saved up. I also overheard him in his room talking with his friend Joe, a couple of days ago. He was telling him that he should never buy anything in airport because it cost much more than buying the same item in a store. He continued to tell Joe about the Harry Potter book at the airport book store.
It made me feel good to think that some of the life lessons that I am trying to teach him along the way, may actually stick with him. Only time will tell.
Showing posts with label education. Show all posts
Showing posts with label education. Show all posts
Friday, August 3, 2007
Tuesday, July 3, 2007
Paying for your child's college education - Learn about your options.
Saving for college can be one of the most challenging financial goals and it is important to take advantage of every opportunity to put extra money into your child’s college fund.
Our number one goal is to raise our son to be good adult... AND, to make sure that he is well-educated so he is prepared to have a good future.
As young as Zach is (in the fall he will be going into first grade), I already have his education in mind, particularly, how we'll save for his education. After all, just like any investment, the earlier we start the better.
I started saving a little ($100 a month) several years before he was born, but I have no idea if it will be enough and the money is not being put in a typical education fund, so it may not even be used for that. I may end up needing that money for retirement or another one of life’s many expenses.
At this point I think it is definitely time for us to put together a more definitive plan for Zach’s education. We still have several years to make sure that we have enough money saved, (or enough to at least get us started) for Zach’s education.
Several financing methods for saving for college are available. Some are even tax-deductible.
529 College Savings Plans lets us earn stock-market returns on college savings. Our contributions or investments are set aside and can even grow tax-free.
I like the fact that the money is set aside for the specific purpose, and incurs no penalties if withdrawn for that purpose. Also, several people can contribute to one beneficiary. This is a good vehicle for grandparents and other family member who wish to contribute small amounts of money, (even a $25 or $50 birthday or Christmas check is helpful) to a college fund.
Take advantage of the opportunity to join us on Thursday, July 19th, to get the facts about College Savings Plans. Our seminar starts at 6:00 pm at Hawthorne’s Naperville Branch, located at 1519 North Naper Blvd, in Naperville. Click here to register for the seminar today.
I like the fact that the money is set aside for the specific purpose, and incurs no penalties if withdrawn for that purpose. Also, several people can contribute to one beneficiary. This is a good vehicle for grandparents and other family member who wish to contribute small amounts of money, (even a $25 or $50 birthday or Christmas check is helpful) to a college fund.
Take advantage of the opportunity to join us on Thursday, July 19th, to get the facts about College Savings Plans. Our seminar starts at 6:00 pm at Hawthorne’s Naperville Branch, located at 1519 North Naper Blvd, in Naperville. Click here to register for the seminar today.
Wednesday, June 20, 2007
Bolingbrook Teacher Wins Scholarship to Colonial Williamsburg
Hawthorne congratulates Susan Bahl, a second grade teacher at Jonas E Salk Elementary School in Bolingbrook, who was awarded a grant provided by Hawthorne to participate in a week-long Early American History workshop at the Colonial Williamsburg Teacher Institute in Williamsburg, Va. More than 600 teachers will attend the Institute in 2007. More than 4,500 teachers from 47 states have participated since the Institute’s inception in 1990. Bahl was one of 25 teachers selected among hundreds of applicants to attend the week-long Institute July 10-17.
The Colonial Williamsburg Teacher Institute was created by The Colonial Williamsburg Foundation to encourage history education and make it exciting and engaging for students. Now in its 17th year, the Teacher Institute helps teachers and students meet national and state history standards through on-site, hands-on immersion experiences in colonial history. Teachers will also prepare new classroom teaching materials as part of the workshop.
Bahl has taught for four years at Jonas Salk Elementary. She holds a business degree from DuPaul University where and a Masters Degree in Education also from DePaul University.
The Colonial Williamsburg Teacher Institute provides participants with interactive teaching techniques and with the skills to become mentor teachers, assisting their peers and other educators in developing new techniques for teaching American History to students.
The Teacher Institute offers participants an extensive background in colonial history from the first English settlement at Jamestown to the American Revolution. Teachers participate in re-enactments of 18th century events and meet historians and interpreters portraying historical figures. Participants share teaching strategies to improve instruction, raise literacy levels and enhance historical thinking skills. Teachers that attend the Institute agree to conduct in-service training sessions to share their knowledge with other teachers.
Hawthorne joined credit unions in other states to send local teachers to the Teacher Institute and to fund all expenses. In addition, dozens of credit unions have supported the award-winning American History education programs produced by The Colonial Williamsburg Foundation by funding electronic field trips for local schools. The electronic field trips are interactive television events that bring the 18th century to life for millions of students nationwide.
Educational outreach initiatives at Colonial Williamsburg embody the motto adopted at the dawn of the restoration of the city that gave birth to the nation’s principles and values: “That the future may learn from the past.”
The Colonial Williamsburg Teacher Institute was created by The Colonial Williamsburg Foundation to encourage history education and make it exciting and engaging for students. Now in its 17th year, the Teacher Institute helps teachers and students meet national and state history standards through on-site, hands-on immersion experiences in colonial history. Teachers will also prepare new classroom teaching materials as part of the workshop.
Bahl has taught for four years at Jonas Salk Elementary. She holds a business degree from DuPaul University where and a Masters Degree in Education also from DePaul University.
The Colonial Williamsburg Teacher Institute provides participants with interactive teaching techniques and with the skills to become mentor teachers, assisting their peers and other educators in developing new techniques for teaching American History to students.
The Teacher Institute offers participants an extensive background in colonial history from the first English settlement at Jamestown to the American Revolution. Teachers participate in re-enactments of 18th century events and meet historians and interpreters portraying historical figures. Participants share teaching strategies to improve instruction, raise literacy levels and enhance historical thinking skills. Teachers that attend the Institute agree to conduct in-service training sessions to share their knowledge with other teachers.
Hawthorne joined credit unions in other states to send local teachers to the Teacher Institute and to fund all expenses. In addition, dozens of credit unions have supported the award-winning American History education programs produced by The Colonial Williamsburg Foundation by funding electronic field trips for local schools. The electronic field trips are interactive television events that bring the 18th century to life for millions of students nationwide.
Educational outreach initiatives at Colonial Williamsburg embody the motto adopted at the dawn of the restoration of the city that gave birth to the nation’s principles and values: “That the future may learn from the past.”
Monday, April 16, 2007
Teach your kids how to manage money during Youth Week!
Join us this year as we celebrate National Credit Union Youth Week from April 22-28 . Our theme for 2007 is "Stash Your Cash @ the Credit Union."
Teaching your children about money does not have to be a chore and you can get started early with some fun activities that will instill financial values in your child’s life. Our primary job as a parents is to prepare our children for how the world really works and in the real world, as most of us know, “you don't always get what you want”. Our kids will be easier to deal with as adults if they experience this fact of life during their childhood.
I usually try not to let guilt get in the way of parenting. My job as a parent is not to make myself feel good by giving my son everything that he wants. My job is to prepare him to succeed in school and when he gets out into the world.
A few things that we have tried are below.
Long-Term Savings Account. We set up an account at the credit union for his first car. Zach knows this money is there and that he has to put half of his allowance every week in to this account. This can also be an account for something else like college or another big item.
We also have a family 401K. We match a quarter to the dollar for Zach’s long-term savings.
We have also tried this approach for short term goal, but watch out, this one can get you in trouble. Last year in January Zach asked for Xbox 360 and we told him that if he could save half of the money that we would pay the other half. Before we knew it, he had saved almost $200. After looking at the price of Xbox and the price of the games $50-$60, we talked to him about this not being the smartest way to spend his money. After he thought it over he decided that it would not make sense to get Xbox yet. Had he not come to this conclusion we would have had a hard time not following through on purchasing Xbox, since Zach had reached is savings goal. What a relief that was!
Helping your children understand the value of money goes a long way in establishing a lifelong pattern of good money management. There are many lessons for our children to learn, and what and how we teach them about money can affect them throughout their lives.
Teaching your children about money does not have to be a chore and you can get started early with some fun activities that will instill financial values in your child’s life. Our primary job as a parents is to prepare our children for how the world really works and in the real world, as most of us know, “you don't always get what you want”. Our kids will be easier to deal with as adults if they experience this fact of life during their childhood.
I usually try not to let guilt get in the way of parenting. My job as a parent is not to make myself feel good by giving my son everything that he wants. My job is to prepare him to succeed in school and when he gets out into the world.
A few things that we have tried are below.
Long-Term Savings Account. We set up an account at the credit union for his first car. Zach knows this money is there and that he has to put half of his allowance every week in to this account. This can also be an account for something else like college or another big item.
We also have a family 401K. We match a quarter to the dollar for Zach’s long-term savings.
We have also tried this approach for short term goal, but watch out, this one can get you in trouble. Last year in January Zach asked for Xbox 360 and we told him that if he could save half of the money that we would pay the other half. Before we knew it, he had saved almost $200. After looking at the price of Xbox and the price of the games $50-$60, we talked to him about this not being the smartest way to spend his money. After he thought it over he decided that it would not make sense to get Xbox yet. Had he not come to this conclusion we would have had a hard time not following through on purchasing Xbox, since Zach had reached is savings goal. What a relief that was!
Helping your children understand the value of money goes a long way in establishing a lifelong pattern of good money management. There are many lessons for our children to learn, and what and how we teach them about money can affect them throughout their lives.
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