Have you ever heard the saying, “penny wise, pound foolish”? I can recall hearing the phrase growing up and always knew it meant there are persons who cannot save money wisely. After doing some research, I discovered the phrase defines a person as someone who will carefully budget their finances when they have a small amount income however should they have a large amount of funds they carelessly spend. (GoEnglish.com, 2008)

During this difficult economic period, consumers must be penny wise but not pound foolish. Consumers can manage their finances to save income and maintain financial security. It is difficult situation when someone is accustomed to spending money. For example, when a family of four goes out to dinner every weekend then to see a movie that can get become expensive.

Considering expenses first the amount of dinner for a family of four would most likely amount to somewhere between $60 to $80 then tickets for four can amount to $40 to $60 depending upon the time of when it is viewed and the ages of the children as some are admitted for free. There are options which can decrease those expenses and the family will still have a good time.

Family night can still be just as important because everyone is together. A family can still keep family night but rather than going out for dinner, begin cooking at home. What will make this dinner special is when kids help prepare dinner. There are plenty of things kids love doing in the kitchen you just have to ask guide them with direction on how to do it. When children help making dinner that actually is something that helps build their minds plus it makes them feel like they are participating. Of course it is a fun process especially when it involves doing small things like putting together a salad.

Making popcorn these days can be quite simple as you don’t need to do it in a pan with oil. There are heated popcorn makers available which are so easy to use all you need are the popcorn kernels and a large bowl to catch them as they come out of the shuttle. If you don’t want to use that, you can purchase those items which are made in the shape of a pie plate with a handle and all you need to do there is shake it over the stove once it begins to heat up. Then there are bags which you can place in the microwave, enter the time, and the corn will pop inside the bag. Once done, you remove the bag from the microwave then pour into a large bowl or divide into smaller bowls. The choices are endless regarding how to make popcorn. The only thing to clean up afterward is usually the bowl as the bag can get thrown away.

When choosing your movie, everyone in the family can be a part of the choosing. The great thing about watching movies is instead of paying $35 or $40 for a movie a rental in most cases can be $20 and it is for three days if you do it during the weekend. Another benefit of watching movies at home is each family member has their own bowl of popcorn and can sit in their favorite chair. So the next time family night is considered, a good option may be for an “in home” family movie night  as it can help save money.

Resources: Go English.com (2008) “Penny Wise, Pound Foolish”
http://www.goenglish.com/PennyWisePoundFoolish.asp

Every new business owner experiences that period when they question  how to manage customer service with certain matters. The main factor a business owner must be aware of is how they will build a relationship between consumers when there is a request for assistance. When a customer purchases a product, there is always that slight chance the product could have a manufacture error. How will you as the company manage it?

Here are a few quick tips for a business to use:

1. It is important to retain customers
2. A company obtains 80% sales from their data base
3. If you can get a referral, there is better chance for making a sale

Customer service is not perfect however what a business does need to remember is they must build trust with their customers because without trust, it will be very difficult to resolve issues that do arise.