A summer job is the perfect opportunity for parents to introduce kids to some smart money habits, such as saving. And there's a good case to be made for putting at least a portion of each paycheck in a Roth individual retirement account.
In the contest between pressing, immediate needs that require tending right away and our longer-term wishes, today's to-do list usually wins. It's just too easy to put off the things that require less attention now. If you have a day off from your regular routing as summer begins, consider using that break - or just part of it - to nurture a bit of longer-term thinking.
If it were possible to develop Post-Traumatic Stress Syndrome because of texts from your mobile provider, Brett Anderson would be suffering from it.
There are millions of stories of children who make money during their summer vacation. When you were a kid, you probably did the same thing. Maybe you did chores around the house, or things for your neighbors. Whatever you did, you looked forward to that cold, hard cash you got at the end of the week.
When it comes to tracking your spending, credit card statements are often a crucial (but mundane) part of that. It is by combing through statements where you might catch billing mistakes or spot mysterious charges that could indicate fraud or identity theft.
"Make Your Kid a Money Genius (Even if You're Not): A Parents' Guide for Kids 3 to 23 author Beth Kobliner shares the best traits you should teach your kids. In this video Kobliner emphasizes the importance of teaching your kids delayed gratification.
Are there health benefits to staying in the work force longer? The scientific research is inconclusive, though it tends to tilt toward "yes."
As a parent, its difficult to navigate the toy store or the candy aisle at the grocery store -- the inability to say "no" -- and mean it - could be setting children up for self-control problems and a world of financial pain.
Many parents wish to offer their adult children financial assistance when they need it, but what do they do when one child's monetary difficulties are greater than the other? How do you ensure that the child in need is covered, whether through cash infusions at the present or later, through provisions in your will? And if you do help that child more, should you let the other child or children know about the additional assistance you've offered? If you're interested in learning about handling money problems with your adult children, read more here.
You've raised your children, and you're looking forward to enjoying your newly-empty nest. It's time to celebrate! But wait—you should look at this time in your life as an opportunity to reevaluate your finances. Keep reading for tips to help you navigate this life event in a financially savvy manner.