Money Saving Duo

Discovering how to live a glorious life on less

Kati Mora

Free Winter Weekend Activities for Families to Do Together

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With Christmas over, it’s possible that you and your family are looking for ways to maximize the time you have together now that break is over. If this sounds like you, here are a few of our favorite ways to spend time together this time of year without spending lots of money:

1. Sledding

Grab your sled or borrow one, but this can be a great way to spend the afternoon. Bundle up and find your local sledding hill and get ready for some fun. Most communities have a go-to freebie spot, so be sure to ask around before you head out.

2. Visit Your Local Library

If you’re looking for an indoor activity, we always enjoy trips to our local library. The library features a variety of books, magazines, puzzles, computer games, and more to explore. Check your library’s website to see if any family activities are taking place over break—many libraries host free events like storytime, craft sessions, or movie screenings throughout the year.

3. Go for a Winter Wonderland Scavenger Hunt

Head outdoors and create a scavenger hunt list of winter-themed items to find—think icicles, pinecones, animal tracks, or a red cardinal. This is a great way to keep everyone active while exploring your neighborhood or a nearby park. Don’t forget to bring a thermos of hot cocoa to warm up afterward!

4. Break Out a Board Game

Dust off those board games in the closet and host a family game day. Whether it’s a classic like Monopoly or a quick round of Uno, playing games together can spark lots of laughs and friendly competition.

5. Host a Movie Night

Transform your living room into a cozy theater with blankets, popcorn, and everyone’s favorite movies. You could even pick a theme for the night, like classic winter films or animated favorites.

6. Volunteer at a Local Non-Profit

Spend time giving back as a family by volunteering at a local non-profit organization. Soup kitchens, animal shelters, or food banks often welcome extra hands, especially during the winter months. It’s a wonderful way to bond while making a difference in your community.

7. Go Ice Skating at an Outdoor Rink

Many communities offer free or low-cost access to outdoor skating rinks. Bring your own skates if you have them, or check if there are affordable rentals available. It’s a fun way to enjoy the crisp winter air together.

8. Take a Winter Nature Walk

Bundle up and take a leisurely walk through a local park, nature trail, or nearby woods. Bring along binoculars for birdwatching or see how many different types of trees and plants you can spot in their winter state.

9. Have a Snowman or Snow Fort Building Contest

If there’s snow on the ground, challenge each other to build the most creative snowman or sturdy snow fort. Add props like hats, scarves, or old buttons to bring your creations to life.

10. Create Homemade Winter Crafts

Gather supplies from around the house (or your local dollar store) and spend an afternoon making winter-themed crafts. Try paper snowflakes, pinecone bird feeders, or DIY hot cocoa kits.

11. Organize a Winter-Themed Photo Challenge

Take turns snapping pictures of winter scenes like frosted windows, snow-covered branches, or playful family moments. Create a mini photo album or slideshow at the end of the day.

12. Bake Together as a Family

Spend time in the kitchen baking cookies, bread, or a fun winter-themed treat. Kids can help decorate baked goods, and everyone will enjoy the delicious rewards!

13. Visit a Local Museum or Community Center

Check out free admission days at local museums or see if your community center is hosting any winter-themed events. Many places offer family-friendly options that are engaging and educational.

15. Set Up an Indoor Obstacle Course

Use pillows, chairs, blankets, and other household items to create a fun obstacle course indoors. Time each family member to see who can complete it the fastest!

With these fun and budget-friendly ideas, you’re sure to make the most of your family time this winter! Which of these activities will you try first?

Maximizing Your $550 EITC Check: Smart Ways to Utilize Funds in Michigan

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Receiving unexpected money, especially a tax refund or credit, can be an excellent opportunity to improve your financial situation or treat yourself. If you qualified for the Earned Income Tax Credit (EITC) in Michigan for the tax year 2022, you may be eligible to receive a $550 check. While it might be tempting to splurge on something fun, there are strategic ways to utilize this money that can benefit you in the long run. Let’s explore some of the best ways to make the most out of your $550 EITC check in Michigan.

Debt Repayment

One of the most prudent uses of unexpected funds is to pay off outstanding debts. Whether it’s credit card debt, personal loans, or medical bills, reducing your debt burden can significantly improve your financial well-being. Consider using a portion of your $550 check to tackle high-interest debts first, as this can save you money on interest payments over time.

Emergency Fund

Building or bolstering an emergency fund is crucial for financial stability. Aim to set aside enough money to cover at least three to six months’ worth of essential living expenses. If you don’t already have an emergency fund, consider using a portion of your EITC check to start one. Having this financial cushion can provide peace of mind and protect you from unexpected expenses or emergencies.

A high yield savings account can be a great place to stash your emergency fund dollars. Not only will they be easily accessible here if you need them, but you can make money through the interest you’ll earn while your money is set aside. We use Wealthfront for our short-term savings and currently earn 5% APY. Sign up for a Wealthfront Cash Account through our referral link and we’ll both get an EXTRA +0.50% boost for three months.

Invest in Education or Training

Investing in yourself can lead to long-term financial benefits. Use your $550 check to enroll in a course, workshop, or training program that can enhance your skills and qualifications. Whether it’s advancing in your current career or exploring new opportunities, investing in education can open doors to higher-paying jobs and increased earning potential in the future.

Home Repairs or Upgrades

If you’re a homeowner, consider using your EITC check to make necessary repairs or upgrades to your property. Investing in home improvements not only enhances your living environment but can also increase the value of your home over time. Focus on projects that offer the best return on investment, such as energy-efficient upgrades or essential maintenance. These types of investments will continue to help you save even more money.

Save for Future Goals

If you’ve already addressed debt, built an emergency fund, and covered immediate needs, consider saving your $550 EITC check for future goals. Whether it’s saving for a down payment on a home, funding your child’s education, or planning for retirement, having savings set aside can help you achieve your long-term financial objectives.

16 Best IRA Accounts of February 2024

Receiving a $550 check as part of the Earned Income Tax Credit in Michigan presents a valuable opportunity to improve your financial situation. By using this money wisely, you can make meaningful strides toward financial stability and long-term prosperity. Whether you choose to pay off debt, build an emergency fund, invest in education, make home improvements, or save for future goals, thoughtful planning and strategic decision-making can maximize the impact of your EITC check. Take advantage of this opportunity to secure your financial future and achieve your financial goals.

10 Smart Ways to Boost Your Savings in the New Year

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As we step into a new year, you may be considering a money goal reset. Whether you’re saving for a big purchase, building an emergency fund, or planning for the future, implementing effective money-saving strategies is crucial and the new year is a fantastic time to put your money goals back in focus.

Please note: This post may contain affiliate links which means that if you click through them and make a purchase, we may be financially compensated. Thanks for supporting Money Saving Duo!

Create a Realistic Budget

Start by taking a look at your numbers. If you were tracking your income and expenses this last year, you should be able to see how you’ve allocated your funds and what changes you would like to make. If not, make tracking your income your goal for the new year. This will allow you to set a realistic budget that allocates funds for essential needs and allows for savings. Be thorough in tracking your spending habits to identify areas where you can cut back. Not sure how to create a budget? We can help you with that.

Related: Exploring Alternatives to the Mint Budgeting App: Budgeting Apps to Continue Keeping Your Finances in Check

Automate Your Savings

Make saving a habit by automating the process. Set up automatic transfers from your checking account to your savings account each month. This ensures that a portion of your income is consistently saved without requiring manual effort. Automating your expenses can also be a really helpful strategy in never missing a payment.

Cut Unnecessary Expenses

Review your monthly expenses and identify areas where you can cut back. Cancel unused subscriptions, opt for generic brands, and dine out less frequently. Small adjustments can lead to significant savings over time.

Embrace the 24-Hour Rule

Before making non-essential purchases, follow the 24-Hour rule. Wait a day before deciding to buy something. This helps you differentiate between impulsive and necessary purchases, preventing unnecessary spending.

Negotiate Bills and Services

Regularly review your utility bills, insurance premiums, and subscription services. Negotiate with providers to secure better rates or consider switching to more cost-effective alternatives. Loyalty often pays off, so don’t hesitate to ask for discounts.

Build an Emergency Fund

Establishing an emergency fund is a financial safety net. Aim to save three to six months’ worth of essential living expenses in case of unexpected events. This fund provides peace of mind and prevents the need to dip into long-term savings for unforeseen circumstances.

Related: Want to Save Money Fast and Jumpstart Your Emergency Fund? Here’s How to Save $1,000 in 30 Days

Explore Cashback and Rewards Programs

Take advantage of cashback and rewards programs offered by credit cards, retailers and shopping apps. Use credit cards responsibly, pay off balances in full each month, and enjoy the benefits of earning cash back or accumulating points that can be redeemed for discounts or gift cards.

Related: Our Ultimate Money Saving Grocery Shopping App List

Shop Mindfully

Adopt mindful shopping habits by looking for sales, using coupons, and comparing prices before making purchases. Consider buying in bulk for frequently used items, and resist the urge to make impulse buys.

Invest Wisely

Explore investment options to grow your wealth over time. Consult with a financial advisor to develop a diversified investment strategy aligned with your financial goals. A well-thought-out investment plan can help your money work for you.

Educate Yourself About Personal Finance

Knowledge is a powerful tool in managing your finances effectively. Stay informed about personal finance topics, read books, attend workshops, and follow reputable financial experts to enhance your understanding of money management.

Check out some of these highly rated books on personal finance:

The Total Money Makeover Book Cover
Get Good with Money Book Cover
Rich Dad Poor Dad Book Cover
Buy on Amazon
Buy on Amazon
Buy on Amazon

As you start your journey towards saving more money in the new year, remember that small changes can lead to significant results. By implementing these 10 practical strategies, you can build a strong foundation for financial stability and achieve your savings goals. Start the new year with a commitment to smart financial choices and watch your savings grow. Cheers to a financially prosperous year ahead!

Want to Save Money Fast and Jumpstart Your Emergency Fund? Here’s How to Save $1,000 in 30 Days

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Are you trying to save money fast? Saving a $1,000 for your emergency fund is a good goal to shoot for. Whether you are able to make big changes or small, here are some of our top tips to help you spend less and save $1,000 in 30 days:

An image with text that says "How to Save $1,000 in 30 Days" over a hand dropping coins into a jar

Start by looking at your budget

Before you can reach any of your money goals, its important to make sure you look at your budget. Don’t have a budget? Then your goal is to set one. Budgets may seem scary if you aren’t use to having one, but they are a really great tool to help you maximize how you use your money.

Not Sure How to Budget? Start With These Four Simple Steps

Once you have your budget set up, look at where you might be able to cut back spending. Are there any unnecessary expenses that are either eating away at your savings or preventing you from putting money into savings? If so, determine how much you are willing to cut back on those expenses and total those up. Put that amount towards your $1,000 goal.

Once you have cut back on those unnecessary expenses, look for other categories you may be able to spend less in by making some simple changes in your daily routine. You may be surprised at how many of these small changes add up.

For example: If you spend any money on food that you don’t make at home, this could be an area where you could save quite a bit if you are willing to give it a try. Instead of dining in at restaurants or ordering takeout, consider making meals at home and packing leftovers when you can. You don’t have to be the world’s greatest chef to make this work for you – stick with simple recipes and add the money you save to your emergency fund. And who knows, you may find that that this is a habit that sticks.

Cancel the memberships you never use and rethink the ones you do

Every few months, our family takes a look at what memberships we have – especially our streaming memberships – and cut whichever ones we aren’t using as much as we used to. If you are looking to save $1,000 in 30 days, this might be something worth doing if you haven’t considered doing so or haven’t done in awhile. Other examples of memberships to reevaluate include:

  • Gym memberships. If you have a gym membership and haven’t gone in awhile, cancel it.
  • Magazine subscriptions. Cancel magazine subscriptions and other publications that aren’t essential to your life.
  • If you haven’t cut cable yet, now might be a great time to do that. Switch over to streaming and you’ll save whether you choose a free streaming platform or one with a monthly subscription. Just remember, to keep it in budget.
  • Subscription boxes. Whether you cancel or delay your subscription box, this could be another way to save money if you are currently receiving these on a regular basis.
  • Cell phones and Internet. Do you really need the plan you have or can you shop around for a better price? This may be a way to save a little extra money each month.
  • Insurance policies. When is the last time you shopped around for insurance? Sometimes when you shop around, you can find better prices without sacrificing on coverage. If its been awhile since you’ve done this, this might be a great time to start asking around.

Don’t buy more groceries than you need; eat out less and have meals you can make quickly and cheaply at home.

It’s easy to get carried away when you’re shopping for groceries. You may find yourself picking up extra items, thinking you’ll use them later in the week or month. But if you don’t actually use those items, they’ll just go bad and end up costing money!

It’s better to plan your meals ahead of time and only buy what you need for those meals–no more, no less. If there are certain ingredients that would be useful in other recipes but aren’t needed right now (such as garlic or spices), add those things onto a separate list so that you remember to buy them later on down the road when needed again by another meal you are planning to make.

Be smart about shopping for groceries and essentials like toilet paper, paper towels and detergent.

If you’re like most people, your grocery bills can add up quickly. The good news is there are plenty of ways to save money on groceries:

  • Make a list and stick to it. This is an incredibly helpful way to stay in budget when shopping for grocery and household essentials.
  • Use cash back apps on your phone. We have a whole list of apps that we use to save money when grocery shopping. Many of them allow us to cash out through our PayPal account while others let us cash out for gift cards we can use for later purchases. Either way, this can be a helpful way to put more money aside for your emergency fund.

Consider what assets you can let go of

Saving is great, but sometimes its still not enough to kick start your emergency fund – especially if you don’t have much wiggle room in your budget to begin with. If this is you, it may be time to consider letting go of some of your personal belongings that you are comfortable parting with. Can you sell them on Facebook marketplace or host a garage sale? Selling items that are still in relatively good condition can be a great way to jumpstart your emergency fund.

Start a side hustle or consider whether its time to ask for a raise

Another way to bring more money into your account on a regular basis is to either start a side hustle or consider whether its time to ask for a raise. Both options can potentially bring in more money on a regular basis to your account and you can set this aside towards your emergency fund. Side hustles are great if you just need a short term infusion of cash – like if you’re trying to quickly put aside an extra $1,000 in 30 days. Asking for a raise may result in more money coming in on a more consistent basis and if you haven’t asked for one in awhile, maybe now is the time.

You can save money fast by making small changes

You can save money fast by making small changes to your spending habits. For example, canceling the membership you never use or adding cash back apps on your phone are easy ways to make more room in your budget for funds you can put towards your emergency fund. Don’t have a lot of margin to begin with? Consider selling some of your personal items you are comfortable letting go of or starting a side hustle that works with your schedule. Any of these steps can help you work towards putting money aside for something unexpected.

Conclusion

You don’t have to be an expert to save money fast. Identify ways you can reduce what you spend and reallocate that money to your emergency fund. If that’s not enough to reach $1,000 in 30 days, you may need to look at ways to bring more money in. This could include picking up a side hustle or selling some of your personal items you are ready to say goodbye to. Either way, these steps can help you reach your goal of saving $1,000 in 30 days, and have a better idea of how much money comes in and goes out each month–which means you can start saving even more!

Make Mom Smile Without Spending a Fortune: ‍ Low Cost Gift Ideas for Mother’s Day

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As Mother’s Day approaches, you may be finding yourself scrambling to find the perfect gift to show our appreciation for the amazing mom (or moms!) in your life. However, you don’t have to spend a lot of money on gifts to show mom you care. That’s why we’ve compiled a list of low-cost gift ideas that will make your mom smile without breaking the bank.

Kati and the boys on a Sunday at church.

Why Low Cost Gifts Matter

While it’s easy to think that the cost of a gift is proportional to how much you care, that’s not always the case. Sometimes, the most thoughtful and meaningful gifts are the ones that cost very little. In fact, a low-cost gift can be even more special because it shows that you put thought and effort into finding something that your mom would love, even on a tight budget.

Additionally, with the current economic climate, many families may not have the financial means to spend a lot of money on gifts. By choosing a low-cost gift, you can still show your mom how much you care without adding to any financial stress.

Budget-Friendly Mother’s Day Gift Ideas

Although it may seem like you need to spend a lot to show mom you care, we’re pretty sure no mom wants you to go into debt or break your money saving goals to celebrate her. In fact, there are many ways you can show mom you care regardless of budget. Need a little inspiration? From thoughtful, no-cost gifts to a few of our favorite ideas costing $30 or less, we’ve got your back this Mother’s Day season.

Kati with the girls as she volunteers at the Daddy Daughter Dance.

DIY Mother’s Day Gifts

  • Homemade coupon book: Create a personalized coupon book filled with things like breakfast in bed, a day of cleaning, or a special movie night that mom can “cash in” whenever she’d like.
  • Hand-painted vase: Purchase a cheap glass vase and use acrylic paints to create a one-of-a-kind design.
  • Handwritten recipe book: Collect your family’s favorite recipes and handwrite them into a notebook or recipe card set for your mom to cherish.

Thoughtful Yet Inexpensive Mother’s Day Gifts

  • Handwritten letter: Write a heartfelt letter to your mom expressing your love and gratitude.
  • Virtual experience: Plan a virtual movie or game night with your mom to spend quality time together, even if you can’t be in the same place.
  • Charitable donation: Make a donation to a charity that your mom cares about in her name.

Mother’s Day Gifts Under $30

If you have a bit more wiggle room in your budget, consider these gift ideas under $30:

  • Tea sampler: For the tea-loving mom, purchase a sampler set of loose-leaf teas for her to enjoy.
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  • A beautiful puzzle: For the mom who loves to problem-solve, purchase a beautiful puzzle for her to work on. There are many gorgeous artworks to choose from these days, so you are sure to find one that she’ll love.
Buy on Amazon

Mother’s Day Gifts Under $20

For those on an even tighter budget, these gifts under $20 are sure to make your mom feel loved:

  • A candle featuring mom’s favorite scent: Let your mom create her own personal oasis with a gorgeous candle that features her favorite scent! Many can be found for under or around $20, like this one from Voluspa.
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  • Portable Coffee or Tea Mug: Whether you get mom the tea sampler as mentioned above OR just this mug, what we love about it is its flexibility. It comes with everything you need for coffee or tea and can keep mom caffeinated all morning long.
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Mother’s Day Gifts Under $10

Believe it or not, you can still find meaningful gifts for your mom under $10. Consider these options:

  • Bath bomb set: Purchase a set of bath bombs for a relaxing and indulgent gift.
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  • Succulent plant: A small succulent plant is a great way to add some greenery to your mom’s space without spending a lot of money. Plus, you might find a funny succulent plant pot like this one below for under $10 as well!
Buy on Amazon

Free Mother’s Day Gift Ideas

Sometimes, the best gifts are the ones that don’t cost anything at all. Here are a few ideas for free Mother’s Day gifts:

  • Quality time: Plan a day of activities with your mom, such as a hike or picnic.
  • Acts of service: Offer to do chores or run errands for your mom to give her a break.
  • Homemade meal: Cook your mom’s favorite meal or bake her favorite dessert.
  • Words of affirmation: Consider writing a poem or creating a homemade card to tell mom how much you love her. If you have little ones, this can be a great way for them to get in on the gift giving as well.

How to Make the Most of Your Gift on Mother’s Day

No matter what gift you choose, there are a few things you can do to make sure your mom feels extra special on Mother’s Day:

  • Add a personal touch: Include a handwritten note to make your gift feel extra thoughtful.
  • Spend quality time: Whether in person or virtually, make time to spend with your mom on Mother’s Day to show her how much you care.
  • Show your appreciation: Make sure to express your gratitude and appreciation for all that your mom does for you.

Wrap Up Your Gift With Love

No matter what gift you choose, remember that the most important thing is to show your mom how much you love and appreciate her. With these low-cost gift ideas, you can make your mom smile without spending a fortune.

Conclusion

Mother’s Day is a special time to celebrate the amazing mothers in our lives. While it’s easy to get caught up in the commercialism of the holiday, remember that the most meaningful gifts are often the ones that cost very little. By choosing a low-cost gift and adding a personal touch, you can show your mom how much you care without adding to any financial stress. Happy Mother’s Day!

Budget Friendly Fall Fun For Families

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Now that fall is officially here, you may be looking for ways to keep your family entertained without spending a lot of money. We’ve got you covered! Here are some of our favorite family-friendly activities that will cost you very little, if anything at all.

  1. Head to your local library and pick up some new books that are fall-themed to read together.
  2. Go on a nature walk in your neighborhood or local park and take pictures of falling leaves, bugs, and anything else you find interesting along the way—then bring those pictures home and make a collage or photo book about your adventure!
  3. Visit a local apple orchard or pumpkin patch. Let your kids pick out their favorite pumpkin or enjoy a glass of apple cider.
  4. Carve pumpkins – the ones your kids picked up at the pumpkin patch! And don’t forget to roast the seeds too.
  5. Print out fall-themed activity sheets and have an ‘art night.’
  6. Check out your local bike trails.
  7. Attend community events hosted throughout your town.
  8. Visit a local farmers’ market and pick up some fresh produce. It’s a great way to support local farmers while getting some exercise at the same time.
  9. Have an adventure day! Set aside one day this fall where everyone goes off on their own to explore something new—a museum, an art gallery, or even just another part of town that hasn’t been explored before. It’ll be fun for everyone involved!

What are your favorite ways to enjoy the fall season? Share in the comments.