girl getting on school busMichelle P. Sharrow, MBA – Family Finance

Don’t think twenty five dollars can go a long way?  Well keep reading and if you have $25 dollars per month to spare, consider using one of these ideas or think of one of your own and share it with our readers.

Chances are, if you are reading this column, you have children.   Do you have hopes of sending them to college?  If so, it’s never too late to open a College Savings Plan or a State Prepaid Tuition Plan to save for their college education.  Some plans will let you join for just $25 if you sign up for automatic withdrawals on a set day of every month.   And the automatic withdrawals can be as low as $25 per month.  Christmas is coming and this is a gift that keeps on giving as a college degree is something that one can reap the benefits of for a lifetime.

Now since I’ve mentioned Christmas, have you thought about gifts?  Do you have any friends or relatives that are next to impossible to shop for?  Well, have you thought of signing them up for a Monthly Club?  Monthly Clubs allow you to gift your love ones with a specific type of gift, not just at Christmas, but for several months.  Club offerings include fresh flowers, tea, chocolates, and cheese all of a different variety every month.  Prices at many clubs start as low as $19.95 per month.  If you are interested in surprising someone special over several months, just perform a web search for monthly clubs.

Many banks offer special accounts for families to plan for special events such as holiday club accounts. By directing as little as $25 a month for 11 months to this account, you could have easily saved $275 without factoring in any type of interest rate that might be offered.  You could use this as your Christmas budget for friends and family members or to buy something special for yourself.

For some people like me, a printed newspaper will never be obsolete.   The good thing about pricing though is that home delivery costs have decreased tremendously because of internet use.  For close to $25 per month you could have one of your favorite newspapers delivered to your front door every morning.

Lastly, if you are searching for ways to make life better for someone else, consider donating $25 per month to a charity. Whether you choose a local organization or an international one, you don’t have to give a fortune to make a difference.  You could also give on behalf of someone else as a gift to them this holiday season.

Twenty five dollars is not a large amount of money when you consider the price of things these days including simple services such as dry cleaning. Yet $25 spent wisely could go a long way if you’d like to increase the quality of someone else’s life including your own, over and over again. Small things do make a difference.

 

 

Michelle Sharrow

Michelle Sharrow

Michelle P. Sharrow, MBA is a seasoned freelance writer specializing in personal finance. Based in Waldorf, Maryland, she holds a Masters Degree with a concentration in Finance. Michelle provides a monthly column on ways to help families maintain their finances and stick to a budget titled, Budgeting and Savings for Families.

More Family Finance:

http://extension.usu.edu/utah/htm/family-finance

http://extension.oregonstate.edu/fch/healthy-families/family-finances

http://www.usa.gov/Citizen/Topics/Money/Personal-Finance.shtml
Michelle Sharrow

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