Money!

iVillage Member
Registered: 12-20-2005
Money!
5
Tue, 01-09-2007 - 3:40pm

Quick question for you ladies!
I recently got a part time job, not making much money but I really want some extra dough to buy some stuff for baby and myself like makeup, clothes etc. I am just wondering if I should save up a few checks before I start spending cause money goes soo fast!
Any suggestions? Gosh its been soo long since Ive bought ANYTHING for myself!

TIA!
Monica

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iVillage Member
Registered: 05-11-2006
In reply to: mom2babydanielle
Tue, 01-09-2007 - 4:00pm

If I were you I would open a separate savings account and save as much money as you can.

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iVillage Member
Registered: 12-20-2005
In reply to: mom2babydanielle
Tue, 01-09-2007 - 4:28pm
Yeah thats a good idea, hopefully I will be able to save some of the money lol!
I am also starting a college fund for my daughter. God knows how expensive college will be when she is old enough to attend!
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iVillage Member
Registered: 08-12-2003
In reply to: mom2babydanielle
Tue, 01-09-2007 - 4:57pm
It sounds like you've decided on some very good goals. As for savings, you can start be setting an allowance for yourself that will allow you to spend money and save money. Or even split your earnings and put half in savings and half is spendable. When it comes to a college savings plan, look into opening a 529 College savings plan. You can contribute, say, $25 a check into the plan and that money will be specifically designated for her college use. It won't be withdrawlable but it will earn interest and will sit in your daughter's name until college time. You're right, college is going to be terribly expensive by the time our little ones get there. They're already between $15,000 to $35,000 PER YEAR now!!! Count in inflation and college could be $20-40,000 in fifteen years! It's insane. Good planning on your part.
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iVillage Member
Registered: 12-20-2005
In reply to: mom2babydanielle
Tue, 01-09-2007 - 7:16pm

Thanks soo much for the info Tarra!

PS LOVE your siggy!!!

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iVillage Member
Registered: 11-17-2003
In reply to: mom2babydanielle
Wed, 01-10-2007 - 11:32am
I would take a little out of each paycheck just as some fun money and save the rest. That way you feel like you are getting a little treat, but yet saving most of it for a rainy day or college. Trish :)