Savings rates in the United States are abysmally low, and many Americans are just a few paychecks away from homelessness. While parents can promote saving money to their kids, oftentimes a positive banking experience early in life is the best way to promote smart money management.
One of the greatest life skills that you can learn and pass down to your children is how to effectively manage finances. Even if you do not plan on pursuing a career in math or a financial related field, this invaluable skill set will prove beneficial in many diverse ways. Here are four reasons why financial management is one of the most important skills that you can have for raising your family.
If you’re the parent of a high school junior or senior, preparing your child for higher education is likely on your mind. However, the financial burden is what gives many people pause. College can cost tens, if not hundreds, of thousands of dollars. While student loans might seem like a good option for those families who can’t pay out of pocket for their child’s dream school, they can be extremely hard to pay back.
If you’re an investor, you probably remember that specific time in your life when something—or someone—sparked your interest in making investments. You probably remember that first time and just how fascinating it was. As an adult, you likely realize that in many ways it’s still a remarkable endeavor, and you most likely want to pass on that interest to your own children. How do you go about doing it? How soon is too soon to teach your kids about investing? Here are some tips for you to consider.
One of the greatest joys of parenting is watching your baby grow up and become more independent. Though they’ll still need help in certain areas, things can be made far easier by them obtaining new skills. As a parent, you can show your appreciation through rewards. Consider rewarding your toddler for learning these three skills.
As a family, you may want to spend money from time to time on things that bring your family joy. Setting a specific budget that allows for expenditures on family happiness is very important.
If you have set up your household budget in a way that doesn’t allow for a little extra spending here and there, well then you should revisit your budget.
Today we are sharing 4 tips for spending money on family happiness. These ideas aren’t what you may have expected.
If you want your kids to have a healthy financial future, then it’s important that they learn to make good decisions regarding money while they’re still young. By teaching your children about debt from a young age, they’ll learn to understand how to use good debt to better their futures instead of being caught in the downward spiral of bad debt.
While most people tend to use debit and credit cards for their daily transactions and bill paying methods, there comes a time for use of a checking account. If you’re old enough, you may recall being taught how to write checks and balance a checkbook. With the current state of technology, many kids are learning about electronic forms of payment and bank accounts rather than the old school checking account methods.
The holiday season is a time for feeling festive, but sometimes all that cheer can be a bit overwhelming. Creating — and maintaining — a morning routine with your kids during the holidays is a great way to keep stress in check. A morning routine can give you a chance to connect with your kids, tackle to-do lists and enjoy the season of giving. Stress can build up throughout the day, but when you start your day off with intention, you’ll be better able to handle anything the holidays throw your way. Here are a few ideas to help you and your children establish a morning routine to manage stress and stay merry and bright.