In this episode of the Dollars and Sense Show host Carol Topp and her guest Susan Raber of AtHomeAndSchool.com discuss money myths that homeschool moms believe.
Do any of you, like me, have curriculum sitting on your shelf, that, if you are honest with yourself, you will probably never use?
I want to share some experiences I’ve learned about money and homeschooling. I call it the Five Money Myths that Homeschool Moms Believe
Myth #1: Just a Little More Money Will Solve All My Problems
Truth: Problem is not lack of money, but lack of contentment
Contentment Robbers: mail order catalogs, magazines, malls, etc… For homeschoolers the list is similar:
- homeschool catalogs,
- homeschool curriculum fairs,
- homeschooling web sites and forums,
- homeschooling magazines
- and even (gasp) other homeschoolers
What are your contentment robbers?
Here’s some advice:
- Only look at catalogs when you have a specific need
- Use a shopping list at curriculum fairs. If it’s not on the list, you don’t need it.
Myth # 2: I Need …..
Truth: Wants are different from needs
Do you think that you just have to have a certain item (whether you need it or not) just because another homeschooler has it?
Here are some tips:
- Don’t buy things sight unseen
- Don’t buy more than one year of a new text
Myth # 3: It was on sale; I saved a lot of money!
Truth: Money is not saved unless there is a deposit into the bank!
As yourself: Is the sale price a good value?
My daughter was looking at an audio book catalog with deeply discounted prices. “How can they sell these audio books so cheaply?” she asked me. “The original price was $500 and they’ll sell it for $150.” Perhaps, it never sold at $500 and it’s only worth $150. Is the $150 a good value?
Tip: If you buy something on sale, put the difference in a savings account. Use the savings for future homeschool needs.
Tune in for the next Dollars and Sense show on April 10, 2014 when Carol and Susan will discuss More Money Myths that Homeschool Moms Believe.