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Family finance tips

At Gerber Life we know the value of a hard-earned dollar. And when you're raising a family, it becomes even more important to stretch that dollar as far as it can go to help you save money. Our family finance tips can help you make smart decisions for spending your money as well as help you make use of opportunities to save it. Whether it's clipping coupons before grocery shopping or throwing a do-it-yourself (DIY) children's birthday party, our family finance tips can help you think outside the box so that you can save money.

  1. 5 Ways to Reduce Food Waste at Home

    July 28, 2020

     

    Did you know that the average American family throws out an estimated 31.9% of its food? That adds up to $1,866 in wasted grocery expenses each year for every household.[1] Some families are more careful, but even the most frugal ones throw out 8.7% of their food, so there’s room for improvement for everyone. Here are 5 ways you can make the most of your grocery budget.

    1. Make a list and shop for meals, not deals

    Sure, that “buy 4 get 1” sale on artichokes might look good in the store, but do you know what you’ll use it for? Will the kids eat it? The first step to reducing kitchen waste is going to the grocery store with a list based on meals you’ll prepare for the week. It’ll take some planning, but the time you spend before heading to the supermarket helps you save big in the long run.

    2. Stock the fridge like a grocery store: First in, first out

    When you come back from the store, stock your fridge like a grocery store clerk: oldest items in the front, newest items in the back. If you’re placing new food in the front, you’re pushing the older items to the back, where it’s out of sight and out of mind. And too often, we discover spoiled food weeks later. Instead, keep a first in, first out system to make sure you’re using everything in the fridge.

    3. Extend the life of your food

    Food might come with a date on the packaging, but may not stick to that defined schedule. Some food spoils before the package date, others may be fine past the date. Your best bet is to learn ways to prolong their life. Popular techniques include wrapping lettuce in paper towel, storing onion and potato separately, and marinating chicken breast before freezing. Oh, and overripe bananas are great for banana bread!

    4. Keep a waste journal

    One great way to reduce waste is by keeping a food waste diary like this one. If you keep track of what’s thrown out and how much, you’ll probably start to see patterns. Use the findings to buy less of what you throw out and adjust your portion sizes.

    5. Prepare a weekly fridge clearance meal

    Do you watch those cooking shows, where the contestants create dishes based on a theme ingredient? That’s the idea behind a weekly “use up” meal around food that needs to be used. It’ll help even more if you set aside an “eat me now” section in your fridge for items that are about to go bad. These meals will help you reduce waste, clear space in your fridge and give you a chance to get creative.

     

    Do you have any tips for reducing food waste? Leave us a comment on our Facebook page!

    [1] Forbes.com, January 2020

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  2. 5 Fun and Affordable DIY Father’s Day Gifts

    June 12, 2020

    Did you know that Americans spent an estimated $16 billion1 (with a b!) on Father’s Day gifts in 2019? We love our dads and they deserve to be recognized. But you don’t have to spend a lot of money to show your appreciation for the special guy. Here are some unique and affordable ways to let the dad in your life know how much he means to you.

     

    1. For the Sporty Dad: Commemorative Basketball

    Or football, baseball or softball — any ball that’s big enough to fit a “Happy Father’s Day!” message works. Here’s the fun part for kids — let them dip their hands in acrylic paint and leave their handprints on the ball. And there you have it, a one-of-a-kind, display-worthy commemorative ball for the superstar of the family.

     

    1. For the Sentimental Dad: Custom T-Shirt Pillow

    Does dad have old t-shirts that have seen better days, but he won’t let go? Are you handy with a sewing machine or needle and thread? Great, because you can transform his shirts into customized throw pillows, so his favorite band or sports team can always be on display.

     

    1. For the Grill Master Dad: Personalized BBQ Platter

    There’s something special about dad’s outdoor cooking, and you can make it even more special for him with a personalized platter. You’ll need a large, white ovenproof plate, ceramic paint and pen. Paint, dry, bake, and the platter’s ready for grilling season.

     

    1. For the Film Buff Dad: Movie Theater Experience

    Even if you love going to the movies, the cost of tickets and refreshments can be a tearjerker. Instead, fire up the popcorn at home, design and print tickets, and dim the lights for a special showing of dad’s favorite flick. Just imagine a theater where he always has the best seat in the house.

     

    1. For the Photogenic Dad: Memory Wall

    Have a lot of great photos of dad? Can’t pick just one to frame? Print all the pictures that show him at his best and hang them on the wall with string lights and clothespins. It’s an easy way to let him relive his favorite fatherhood memories.

     

    1Estimate based on a survey of consumers by the National Retail Federation, conducted May 1–9, 2019. Source: Father’s Day spending expected to reach all-time high of $16 billion, May 30, 2019

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  3. Looking for a different way to celebrate Mother’s Day?

    April 24, 2020

    Mother’s Day is the day we want to give mom a well-deserved break – no cooking, no cleaning – a day to thank her for all she does all year long.  Treating mom to brunch or dinner in a restaurant has often been part of the annual celebration, but there are other ways you can show mom how much you care.

    1. COOK HER FAVORITES AT HOME

    Warm your mom’s heart by making a fabulous brunch, lunch or dinner at home. You probably already know her favorite dishes and beverages and how to make them. Or, go online to look up the recipes. By preparing a Mother’s Day meal at home, you can give her a “restaurant experience” without the hassle – which includes you (not mom) cleaning up afterward.

    1. HAVE A PICNIC OUTDOORS

    If your mom is the outdoor type, a great alternative is to plan a day outdoors. Roll up some blankets, get out the folding chairs and tables, pack some sandwiches, salads and desserts, pour mom’s favorite beverage into a mug, and head to the backyard. Above all, remember: Mom gets to relax, so make sure everyone else pitches in to clean up.

    1. A SPECIAL MEAL FOR MOM AND HELP FOR A LOCAL BUSINESS

    Order a take-out meal and in the process, help support a local business since so many restaurants are having a rough time these days. Some offer delivery and take-out service, so check out your options and pick one that she would like. For mom’s sake, it may be wise to order in advance.

    1. PLAN A VIDEO CALL FOR MEALTIME

    If you’re not able to travel to be with mom or are staying home, you could share a Mother’s Day meal by video. Put the device on the table so she can see everyone. Skype or Facetime and have a virtual meal together to put an even bigger smile on her face. You could have flowers and a Mother’s Day meal delivered to her by a local restaurant.

    1. CELEBRATE MOTHER’S DAY WHEN YOU CAN

    Did you know that Mother’s Day in Spain is the first Sunday in May, and in Jamaica and Japan, as in the U.S. and Canada, it’s the second Sunday in May? The point is, when you celebrate Mother’s Day isn’t as important as taking the time to show your appreciation. So, if it’s not possible to be with mom in person on the actual date, set aside time to have a video or phone call with each other. Then plan a later date to celebrate when everyone can be together.

     

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  4. 5 Tips for a Stress-Free Summer

    May 29, 2019

    More hours of daylight and warmer weather are just a couple of reasons why summer is the favorite season for many people. For parents, however, trying to keep young kids entertained and supervised all summer long can be stressful. Finding the right balance between keeping your kids busy and your bank account healthy can help reduce stress levels.

     

    Here are some tips for having a stress-free summer:

    1. Consider a nanny or day camps to save money

    According to the Center for American Progress, the estimated amount that families in the U.S. would spend for summer childcare in 2018 was 20 percent of their income.1 This amount may not come as a shock, but don’t worry – there are ways to save money on summer childcare.

    Hiring a nanny could be a more economical option than sending your kids to a daycare facility. To save even more money as well as time in searching for a childcare facility, consider sharing a nanny with neighboring families.

    Signing up your kids for summer day camps through their school or the community may cost even less than a childcare facility. Not only are camps a way to make new friends, they also can help to keep your kids physically active and continually learning.

    When day camp isn’t an option, look into non-profits, such as the YWCA, YMCA or local library. You and your kids will be supporting a cause while having fun and maybe saving some money.

     

    2. Keep a daily, flexible routine

    When your kids are home for the summer, it’s important to provide them with a daily routine and to keep it somewhat flexible.

    Make sure that the routine incorporates healthy habits, chores and learning. Try to leave an hour open here and there for something spontaneous, whether it’s an ice cream run or quiet time.

     

     

    3. Poll the family for ideas

    Take some pressure off of yourself. Ask your kids what they would like to do. Ask other family members. You may be surprised by their responses and ideas, which could be simpler than what you expected or may spark other ways to have fun.

    Some of these activities may cost money, but there are other ways to have fun without burning a hole in your pocket.

     

     

    4. Enjoy a ‘staycation’

    A Harris Poll survey in 2018 found that vacations cost families in the U.S. an average of $2,256, according to a blog on Nerdwallet.com.2

    Although going away – maybe far away – with the family can offer a break from the daily humdrum, there are more affordable ways to recharge and rejuvenate and still make lasting memories.

      • Invest in some fun backyard toys.
      • Visit a town fair or enjoy a picnic in a park, a local activity that can give everyone the opportunity to get out and stretch their legs.
      • Plan a family “staycation” around day or weekend trips to places where you’ve never ventured, such as a nearby aquarium, zoo, beach, theme park, observatory, museum, hiking trails or historical sites. Giving your family a mix of physical and mental activities will keep the staycation adventurous and different from day-to-day life.

    If your list of ideas gets long, prioritize the suggestions based on what will benefit the entire family. Then, be sure to schedule each outing on the family calendar. If they’re on the calendar, you’re more likely to do them.

     

    5. Be in the moment

    If you’re a working parent, simply trying to find enough time to enjoy activities with your kids can add another level of stress.

    One way to achieve quality time is to have the family disengage with social media. Try deleting your apps for the summer. Without those pop-up notifications, you can enjoy more moments with your family.

    Remember to reserve enjoyment time for yourself, too. Family time is important, but you, too, should recharge regularly, whether with a book or by going for a walk or shopping or starting a new hobby.

    ____________

    Sources:

    1 – Novoa, Cristina, “Families Can Expect to Pay 20 Percent of Income on Summer Child Care,” Center for American Progress, https://www.americanprogress.org/issues/early-childhood/news/2018/06/11/451700/families-can-expect-pay-20-percent-income-summer-child-care/

    2 – El Issa, Erin, “Family Vacations Can Mean Big Costs and Little Lies,” NerdWallet: Summer Spending Report 2018, https://www.nerdwallet.com/blog/family-summer-travel-spending-report-2018/

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  5. 7 Things Millennial Parents Are Doing Right

    December 18, 2018

    No matter which generation we’re a part of, we want the best for our children and we’re willing to put in the work to make that happen. However, the United States is a very different place from what it was 20 or 30 years ago.

    Millennial parents have challenges, resources and opportunities that their parents never faced or envisioned, which has led to some very big differences in how millennials approach parenting.

     

    1. Starting families later

    new parents - woman checking pregnancy test

    The current median age for getting married is 30 years old, compared to 23 years in the 1970s.1 With more women pursuing careers and with prices and expenses increasing, family life seems to be put on hold.

     

    2. Better informed

    millennial parents - couple cooking

    With so much knowledge at our fingertips thanks to the internet, today’s parents are searching for how-to tips for parenting. Millennials are strategic thinkers, interested in what has worked for other parents and what hasn’t.  Google found that three out of four parents are open to parenting tips they find on YouTube.2

     

    3. Dads are stepping up

    millennial parenting - dad playing with child

    Nowadays, new fathers play a bigger role at home than did previous generations of dads. They strive to be “perfect” and are interested in learning everything they can about parenting.3 As super dads, they are more involved with tasks like baby-proofing, changing diapers, making important purchasing decisions and more.

     

    4. Health conscious

    millennials - woman running with dog

    Millennials tend to be more health conscious than previous generations.  They carry their health consciousness into their parenting style, aiming to serve as positive, healthy role models.

     

    5. Dialogue is a priority

    millennial dads - father talking with son

    Millennial parents look for ways to be more “present” and involved, and let their kids be part of the decision-making process. Breaking away from “helicopter parenting,” they give their kids choices. Instead of pushing them to strive for perfection, they keep it real by having candid conversations with their little ones.

     

    6. They don’t define themselves as only a mom or dad

    millennials - woman painting

    “Millennial parents can do it all,” the saying goes. They prioritize their kids while still doing other things that make them happy. 75% of millennials say they’ve “continued to pursue personal passions” since becoming parents.3

     

    7. Saving more for the future

    saving money - piggy bank

    Once kids come into the picture, it seems like saving for retirement is kicked into high gear. To put this in perspective, boomers are saving about 5% of their income for retirement. But the Millennial generation is saving twice as much, with a very financially responsible 10% of income going into retirement savings!4

    And, of course, any sound retirement plan includes life insurance, so that spouses and children are financially protected if the unexpected happens.

     

    Wrapping it up…

    Yes, the parenting world we live in today is very different from previous generations. And Millennials may not be doing things the same way their parents did. New challenges require new approaches, and millennial parents are rising to meet those challenges. They seem to be doing parenting right.

     

    1 – “Millennials Coming of Age,” Goldman Sachs, 2015,  https://www.goldmansachs.com/insights/archive/millennials/

    2 – “Marketing to Millennial Parents? Here’s How They’re Redefining Parenting for Their Generation,” Think with Google, March 2017,  https://www.thinkwithgoogle.com/consumer-insights/marketing-millennial-parents-youtube-insights/

    3 – “Millennial Dads Turn to Digital in Their Moments of Need” Think with Google, June 2015,  https://www.thinkwithgoogle.com/consumer-insights/millennial-dads-turn-to-digital-in-moments-of-need/

    4 – “Millennial Parents Outpace Gen X, Boomer Parents on Retirement Savings,” Nerdwallet survey conducted online by Harris Poll, Aug. 2017, https://www.nerdwallet.com/blog/investing/parents-retirement-study/

     

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