There’s something about a three-day weekend that has people itching to get out and go somewhere. However, those long weekend get-a-ways often end up costing a little more than expected. You can help prevent vacation and other budget busters by beginning a simple savings plan!

Start Saving Today

Now is the perfect time to start the 52-week money challenge. Starting on week one, save $1. On week two, save $2. On week three, save $3. On week 20, save $20 and so on until the final week when you’ll put $52 in savings. By the end of 52 weeks, you will have saved more than $1,300 to put toward a summer vacation or other financial goal. Consider these tips to help make it happen.

1. Create a separate savings account. Open a separate savings account for the money you will save with the 52-week money challenge.

2. Involve the entire family. If you have kids at home, bring them together for a family meeting and explain how the 52-week money challenge works. Explain what the money will be used for. This helps everyone have motivation to make the sacrifices necessary to save the money each week.

3. Create a 52-week money challenge chart. Help family members feel they are part of the challenge by creating a chart to track savings each week on either poster board or a piece of paper. Draw lines to make 52 boxes, decorate, hang where the family can see and watch the check marks fill up as you save each week. A variation is to create a chart on a piece of paper by drawing enough lines to make 52 squares. Next, number each square from 1 to 52. As you begin your challenge, there may be some weeks when you may be able to save $30, $40 or $50 a little easier than others. When that happens, put the money in your account and put a check mark or sticker on the square with the corresponding dollar amount.

Other Ways to Save

*Automate 1 percent. Send 1 percent of your income to a separate account. This won’t seem like a huge cut to your income but will add up over time. You can draw on this money as needed to supplement extra costs for long weekend trips or other expenses.

*Use the step-down principle. Envision a staircase with multiple steps. Now think of an area where you could cut your spending (eating out, entertainment, etc.) Decide what you can do to take one step down to spend less in that area and put the money you would have spent into a separate account.

*Take advantage of tax return time. While paying down debt or saving for retirement are key, it’s smart to take a bit of money and reward yourself. You may choose to purchase something you’ve been wanting or put money into your separate account for summer get-a-way expenses.

This article was written by Amanda Christensen.

Amanda is an Extension assistant professor for Utah State University. She has a master’s degree in consumer sciences from USU and is proud to call herself an Aggie! Amanda loves teaching and enabling individuals and families to make smart money decisions.

It’s the time of year when we see beautiful spring blossoms and blushing brides. When you’re in the middle of planning a wedding, plans to manage budgets and bank account balances as a new couple aren’t always popular discussion topics.

How to Start Saving

When you read the word “budget” what’s the first thing that comes to your mind? Unrealistic? Stress? Confined? Restricting? But you have to start somewhere, and you have to have the desire to manage your money.
Want to track how much money you spend eating out? How about cutting back on your monthly utility bill? Maybe there is a fun trip you are planning for next summer and you’d like to have a good chunk of money set aside for it. How about a little more Christmas money for that special someone’s gift? Whatever the reason, here are three baby steps to get you started:

1. Automate your savings. This is the KEY to getting off to the right start. Automatically sending a chunk of your paycheck into a savings account is a foolproof way to set money aside. You don’t have to remember a monthly transaction and the money is moving from checking to savings without you touching it—which equals less temptation to spend it.

2. Take out your personal allowance in cash every month. Allowing yourself to spend some of your money every month however you choose is an absolute must! Decide how much each person can spend and stick to it. Take the money, in cash, out of the bank and when it’s gone, it’s gone.

3. Use the PowerPay App. This free app allows you to enter all your debts and see how long it will take to pay them off, with or without power payments. Both spouses can download the app and stay on top of paying down debt together. Don’t have a smart phone? You can also find PowerPay at: www.powerpay.org.

These baby steps for budgeting, whether for wedded bliss or something else, will be helpful moving forward and will get you on the right track.
What tips do you have for newly married couples for managing their finances? I’d love to hear from you!

Also be sure to check out my YouTube channel for weekly videos about financial management—including more tips for newlyweds managing their finances.

Contact Me:
Twitter & Instagram: @FamFinPro
Facebook.com/FamFinPro
YouTube: Amanda Christensen (FamFinPro)

This article was written by Amanda Christensen.

Amanda is an Extension assistant professor for Utah State University. She has a master’s degree in consumer sciences from USU and is proud to call herself an Aggie! Amanda loves teaching and enabling individuals and families to make smart money decisions.

Author – Amanda Christensen

It is estimated that consumers save more than $3 billion with coupons on a yearly basis! With TV shows, blog posts and YouTube channels shedding light on people who consider “couponing” a sport, it’s easy to wonder, “Do I have to be an extremist to save that much on my grocery bill?” Some may be scared away at the thought of thick coupon binders, stockpiles that take over your home and carts full of toothpaste; but it is possible to save on your groceries without letting the coupon craze take over your life. This article will take you through simple steps and tips to help you cut your grocery bill.

1. Stay organized.
• Develop a meal plan for your family. You can do this weekly, twice a month or monthly — whatever works best for you.
• Check your grocery store’s weekly ad and try to incorporate foods that are on sale into your meal plan. Most items go on sale every 12 weeks, so keep this in mind when determining how much of a sale item you should stock up on; a three-month supply is usually all you should buy.
• Organize your pantry and keep track of what items you already have. Some shoppers even keep an inventory list for their pantry so they know when they are running low on certain items.
• After you plan your meals and organize your pantry, determine what still needs to be bought from the store and make a list. Once at the store, stick as close to your list as possible.
• The number one trick to saving money is matching up store sales with your coupons!

2. Find your coupons.
• There are extreme couponers who subscribe to upwards of five Sunday newspapers just to get the weekly inserts. You do not have to do this. If you feel like getting the paper on Sundays go for it. But don’t feel like you need to buy 10 papers to save money.
• Coupons can also be found on many websites, including retailer websites. There are a ton of blogs and sites that maintain their own coupon database. Find one that you like and feel comfortable using.
• If your store has a loyalty rewards program, check for downloadable coupons on their website. These electronic coupons will stay on your card and be automatically used when applicable after you swipe your loyalty card.
• After you have your coupons, it is time to organize them. There is no set rule for how to keep track of them. Find a way that works well for you and stick to it. Some use mini file folders, others use huge binders or envelopes.
• Remember: Just because you have a coupon for something does not mean you need to buy it. There is no sense in buying 10 jars of pickles because they are cheap, then trying to find recipes for the next 6 months that use pickles.

3. Ask your store about their coupon policies.
• Some stores will match retailer coupons. Others will even accept expired coupons. There are time periods when some stores will double or even triple the value of your coupons. Check with your store so you know exactly what to expect when using your coupons.

Don’t expect your grocery bill to be cut in half the first time. Couponing is a skill that takes time and practice. The more you coupon, the better you will become at staying organized and saving money. These tips will allow you to cut your grocery bill with just a short amount of preparation time. What tips do you have for beginner couponers?

Amanda is an Extension Assistant Professor for Utah State University. She has a master’s degree in consumer sciences from Utah State and is proud to call herself an Aggie! Amanda loves teaching and enabling individuals and families to make smart money decisions.

Follow Amanda:
Twitter: @FamFinPro
Facebook: Fam Fin Pro
Instagram: @FamFinPro

Author- Amanda Christensen

Welcome to the wonderful world of marriage! Now it’s not just YOU, it’s WE. You may think that all the money stuff will just work itself out over time. You’d be surprised at how often married couples need to talk about money in order to stay on top of their personal finances. Learning to communicate now will help you avoid some of the common money pitfalls couples encounter in their first years of marriage. Here are my 5 money tips for newlyweds:

1. Talk about Your Money History
   1. How were you raised with regards to money? How does that affect you now?
   2. Do you have a basic understanding of money management?
   3. What are your financial aspirations?
   4. What are your career expectations?
   5. What are your assets/liabilities?
2. Talk about Your Spending Plan
   1. What money comes in?
   2. What money goes out?
   3. Who will be the day-to-day money manager?
3. Talk about Your Debt Philosophy
   1. How will you use debt? Credit Cards?
   2. Good debt/bad debt?
   3. Each spouse has a separate credit report. Get a free credit report from annualcreditreport.com.
4. Talk about Your Personal Allowance
   1. Decide on an amount that both of you can afford to spend each month no questions asked.  It may be $100 and it may be $5 depending on your circumstances. Either way it’s yours to spend without any quilt.
   2. Rule: When it’s gone, it’s gone; No running to the ATM for more cash after you’ve spent your allowance!
5. Talk about Your Beneficiaries
   1. While you’re taking the time to change your last name be sure to get online or call to make your new spouse the beneficiary on any retirement accounts, life insurance policies, etc.
   2. If you don’t have any of these accounts, now is a good time to have a conversation about what your retirement and life insurance needs are. There are many financial institutions (investment firms, banks, etc.) that will answer questions and give you options for free.

Who else uses the concept of a personal allowance for spending? How is it helpful?

 Amanda is an Extension Assistant Professor for Utah State University. She has a master’s degree in consumer sciences from Utah State and is proud to  call herself an Aggie! Amanda loves teaching and enabling individuals and families to make smart money decisions. @FamFinPro.