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| Top Tip Competition |
Each week we select a winning tip from the many hints, tips and ideas that are contributed to the Tip Store.
The author of the winning tip receives a one-year membership to the Cheapskates Club, valued at $29.20.
This week's winning tip is from Nicky Culhane. Nicky has one a one-year membership to the Cheapskates Club valued at $29.20 for submitting a winning tip.
School Canteen Provides Valuable Life Lesson
Approximate $ Savings: $2000 per child
"When my daughter was in Prep, I allowed her 1 lunch order per week, and allowed her $5 per order. She was allowed to keep the change to spend on whatever she liked. Then my son started school and I was now handing over $10 per week. EEEK! After a little while, I noticed that the kids were spending less on the actual lunch order (there was a bare minimum I made them spend to fill them up) because they wanted the change to either save or spend at the canteen on their friends. This became even more evident when our school went healthy and their choices were decreased significantly. I had also decreased the weekly amount to $4 by now as a result. This went on for a few months until the kids decided they really wanted Nintendo DS's. Well, at $200 each I wasn't prepared to just hand over that money for nothing, so I offered them a deal that would allow them to get their toy and teach them a life lesson too. I told them that I will still give them $4 every single week. However, they had to decide if they are going to buy their lunch with that money or save it. They couldn't have it both ways. It was completely their choice each week. I felt that this would not only allow them to gain a certain respect for the money they are given, but teach them that 'even little kids' can save and buy their own high priced toys. It worked a treat. Both kids chose to save their money at least 95% of last year and my dad was so impressed with their efforts, that he offered them an extra $5 per week until they had the money to pay off their Nintendo DS's (on the condition that they had behaved well in that 7 day week so sometimes they missed out.) So in all, it took them about 6 months, but they DID save their money and they now DO have their DS's. I am really proud of them and the system is going to stay in place for the rest of their school years - which is approximately 23 years for both kids and an approximate saving of $4000, but more importantly, a huge lesson in money that is a part of their daily lives."
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Share your money, time or energy saving tip and as a thank you, we will enter your tip in our weekly Top Tip Competition.
You'll be in the running for the Top Tip of The Week with a chance to win a one-year membership to Cheapskates Journal. And if you're already a member, you could win another 12 months membership.
The rules are simple:
The tip must be cheap a genuine money and time saver.
The tip must be of a practical nature.
The tip can be for anything home, garden, car, budget, children etc.
Please be specific in your tip i.e. "use vinegar and bi-carb for cleaning" won't win you a prize.
Please give as much detail as possible, including how much you saved, how you saved, instructions, where to get ingredients/tools/products, brand names, stores etc
You may enter as many times as you like, one hint per entry.
Each hint will be judged individually.
The more hints and tips you enter, the more chances you have i.e by sending three, four or more good tips you will have three, four or more chances to be a winner!
New Feature Now you can include a photo with your entry simply and easily. We would love to put a face to your tip and even see it in action.
Remember to include your first name, city and state you live in and most importantly, please include your email address.
By making a contribution, you agree to abide by our Terms of Contribution.
I can't wait to read all your great money, time and energy saving hints, tips and ideas - send them in soon!
Happy Cheapskating,
Cath
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