Standard Bank Blog

Most teenagers are just happy to have money to spend but this is a prime time for you to lay a foundation for a solid financial future.  I know it is not as exciting as going to the movies every Friday night or buying that new hot item at the store, but when you are older you will thank me.  I wish I had listened...

Over the past week, reality has set in around Chicago, the cold weather is moving in.  Some of us love it, others despise it, and a few of us fly south for the winter.  For those of us who cannot get away we need to find ways to stay warm and comfortable.  My wife and I tend to like winter for the snow and holiday season but we are not fans of the bitter cold.  So far, forecasters are predicting a particularly bad winter for us so let us check out some ways to stay warm that save you money.

• Open Your Shades- Every morning I open the shades in the house to let light in to warm the house naturally.  Be sure to close them in the evening when the sun goes down for additional insulation
• Seal up Drafty Windows and Doors- Weather-stripping or insulation are the more permanent ways to get rid of drafts but seasonal solutions such as a rolled up towel or blanket along the base of the door or the plastic window seal work wonders

As we have all probably noticed, there has been a decline in the newspaper industry.  Many papers have shutdown or consolidated operations to stay profitable.  In an era where news is digested by the minute, newspapers often feel behind the curve.  I can tell you my household still subscribes to the newspaper, actually we receive two on Sundays.  I read almost all of my news online as I am in front of a computer all day and on my Smartphone during the rest of my waking hours but there are still reasons why paying for the newspaper is worth it.

1. Having it in front of you- I stare at a screen all day so reading something on paper is a weird pleasure I appreciate

TV, the center of our entertainment and it is often the center of our budget woes too.  Have you found that your bill is far higher than you think it should be?  TV providers have found ways to get that bill up so you do not notice like bundling with internet and phone.  If you do this you are paying around 200 dollars.  Do you need to?  Let's find out.

First off the phone part, which is easy to cut if you have a cell phone.  Yes it is hard to part with that old number but who really calls it other than telemarketers?  Next is internet, which admittedly is an important part of your bill.  The question is do you need that speed?  Sometimes you can downgrade your service to save a few bucks and not really notice the speed reduction.  Also you should investigate the option of buying your modem versus leasing.  It is much more cost effective.

In today’s world, college is already expensive as it is, so there is no reason for your child to be spending even more money.  Last week we talked about how to save money on textbooks.  As we all know there are many small things that a younger adult can do to save a little extra money.  Many of these tips may be basic; however, these tips may not be something that you or your children often keep in mind.  Some of these points may actually help an adult too.

• Track your spending- Hold onto receipts for a month, at the end of the month add up all the receipts and see where your expenses need to be cut down
• Do not buy a new ink cartridge- Buying a new ink cartridge is expensive; there are many stores such as Walgreens that will refill your ink cartridges for cheap