Top 5 Things I Learned Through #SavingMadeSimple

For the month of February I lived on a monetary diet - and on cash - for #SavingMadeSimple through #PGmom.

Here are the top 5 things I learned from Gail Vaz-Oxlade's Money Rules…not surprisingly, a few of them have to do with having kids.

1.  "Staying at home with baby is a privilege."

I cherished my 12 months at home with Hannah. (OK, maybe not the first two months when she cried all the time and we lived on no sleep). It was so nice to witness many of her firsts. We found a lot of free activities, I hardly bought anything for myself and we lived a very frugal life. But I would do it all again. I was lucky to have a partner who supported my staying home, even if I am the breadwinner in our family.

2. "Know what you're spending on your kids."

Buying little gifts for Hannah is my worst weakness. Buying her clothes gives all the retail therapy without feeling fat and trying clothes on. I buy her clothes on sale, with less tax…but it still adds up. Now I am more careful of not purchasing things she truly doesn't need.

3. "Open an RESP for your kids."

We did this during February. At the age of 2, Hannah had accumulated a lump sum from tax credits and family presents. I paid for my own post-secondary education, and I expect Hannah to contribute to hers as well. But if she wants to study some place where she needs to live in residence, I hope her RESP will help. Also, the government now directly contributes to her RESP = free money for school.

4. "Don't Have Credit with the Bank That Has Your Deposits."

This was the scariest thing I read while reading the book. Did you know that your bank can take money you owe them from your account? Yep. Thankful I have a card that's not connected to a bank.

5. "Renting is not a waste of money."

You may recall from my first post that I really want to buy a condo. After reading this rule, I still want to, but I have less bees in my bonnet. I'm currently work full-time (outside of blogging) at a contract job…we could move close to where Chris works, but until we can figure out exactly where it is best for us to live it is best for us to wait.

Do you have any money tips to share?

Disclosure: I am a P&Gmom. As part of my affiliation with this group I receive products and special access to P&G events. The opinions on this blog are my own. 

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