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Day Care or Stay-at-Home: How to Care for Your Kids?

Friday Oct 9, 2009

Teacher Danny Kofke and his wife chose against day care for their children. It was a tough choice. Would you do the same?

Slash Your Phone Bill and Save $1,000

Tuesday Jun 30, 2009

The best thing I ever cut from my monthly budget were my home and cell phone plans. This saved me over $1,000 a year!

A Fun Way to Teach Your Kids About Money

Monday Jun 15, 2009

How I teach the value of money to my 5-year old daughter using jars labeled Give Away, Savings and Spending.

What "Financial Independence" Means To Me

Tuesday Jun 9, 2009

Financial independence does not always mean having the best and biggest toys. To me it is being able to have a job that I love and not having to worry about making more money to fund my lifestyle.

Best Lesson I Learned From Dad

Tuesday Jun 9, 2009

My article tells an important lesson I learned from my father and how it has helped my family live a very wealthy life on a moderate income.

Recent Comments

Commented on: Day Care or Stay-at-Home: How to Care for Your Kids?
Allison
Silver
Allison said
27 days ago

First off - Let me say thank you to the writer of this article for pointing out in the very first sentence that there is no right or wrong answer to this question. It really truly is whatever is going to/ or is working for your family now. I was a stay at home mom for the first 4 months of my son's life ans it did not work out so I went back to work. Money wise as well as sanity wise, this worked out better all around for our family. However how, my son is 21 months old and I am back to working from home while my son now goes to a daycare/preschool instead of staying home with me. Yes I realize we could save money by him staying home with me but there are many other benefits to him going to this school everyday, not only for him, but for us as well. Again, overall there is no right or wrong answer and this will always be a debate. And no matter your decision, I applaud you.

Commented on: A Fun Way to Teach Your Kids About Money
Allison
Silver
Allison said
about a month ago

This is a wonderful way to teach your children the value of money and also get them started on good practices as they grow older. Thank you for this article! t is definitely something that I think I will start for my son when he is a few years older!

Commented on: Day Care or Stay-at-Home: How to Care for Your Kids?
Northern Cheapskate
FiLife Contributor
Northern Cheapskate said
about a month ago

The decision to stay home with the kids is a tough one... and each person has to do what is best for themselves and their families. For me... I discovered that our family just WORKS better... and our income actually went up slightly because I was able to do some money-making things from home and my husband, who no longer had to help with the working parent/childcare juggle, had more time to pursue additional opportunities that led to more income. Our kids love having mom home - and I think they're better for it, too.

Commented on: Day Care or Stay-at-Home: How to Care for Your Kids?
Hank
FiLife Contributor
Hank said
about a month ago

It all comes down to what your family values in life and the costs associated with those values. Many of the costs (regular and opprotunity costs) are more important than others. This is a tough decision that every family must weigh on their own. How do you place a monetary value on parent and child bonding? Also, what intrensic value or utility would you get out of that extra $300 in net income? Do you use it for more investments that will compound in earnings over a lifetime? Do you use it for incredible family vacations every summer that your children will remember for the rest of their lives? These are some very hard choices.

Commented on: Slash Your Phone Bill and Save $1,000
Thomas Fisher, CFP®Napfa_small
Expert Partner
Thomas Fisher, CFP® said
4 months ago

This is a great example of how paying attention to a recurring expense can enable significant spending cuts without losing anything in terms of your lifestyle!

Commented on: A Fun Way to Teach Your Kids About Money
DebbieK
FiLife Contributor
DebbieK said
4 months ago

What a great way to teach young kids about money and cement good values early in life!

Commented on: Slash Your Phone Bill and Save $1,000
Jeremy Mikola
Staff
Jeremy Mikola said
5 months ago

I get by quite nicely sharing a 500-minute plan (one of the lowest available) between three family members for $60 or so a month. By taking advantage of in-network calling, we routinely come in with minutes to spare and I personally no longer have any need of a landline. Most providers are now also offering free minutes with up to a half-dozen out-of-network numbers - we haven't used that feature yet, but I imagine it'd only put us further below 500/month. The best part is that we've had the same plan for about four years, and are no longer under any contract. When the time comes for a new phone, I've had a better experience shopping for a specific model on eBay than wasting time with buy-one-get-one offers from the provider.

Commented on: Slash Your Phone Bill and Save $1,000
Doug
Staff
Doug said
5 months ago

One of the worst personal finance decisions I ever made was a 2-year commitment to a cell phone plan I barely ever used. Be careful not to overbuy!!

Commented on: A Fun Way to Teach Your Kids About Money
Rahwa Asmerom
FiLife Contributor
Rahwa Asmerom said
5 months ago

Materialism is a great discussion topic for all young people. It's easy for them to get caught up in the hype of consumerism otherwise.

Commented on: What "Financial Independence" Means To Me
Eric Capper
FiLife Contributor
Eric Capper said
5 months ago

Its interesting that the top 10 most gratifying jobs are all directly related to either creative expression or helping people, or both. For me financial independence is getting to the point where I'm doing work I love while not having to worry about my finances.

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Danny
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