Choices
What Is Apartment Debt on a Credit Report
Plans can change unexpectedly. Changes in employment, relationship status, or finances may prompt you to rethink your living situation. Some changes may even lead you to move out of your apartment without paying rent for the final month or two on the lease. And just like that, apartment debt is created. Like all forms of […]
The post What Is Apartment Debt on a Credit Report appeared first on Apartment Life.
How Does Cash Back Work?
Editorial Note: This content is not provided by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the authorâs alone, and have not been reviewed, approved or otherwise endorsed by the issuer. … Continue reading →
The post How Does Cash Back Work? appeared first on SmartAsset Blog.
Most In-Demand Jobs for Bachelorâs Degree Holders â 2021 Edition
Jobs requiring a bachelorâs degree or higher level of education for entry are often more insulated from unemployment than others. During the COVID-19 pandemic, total unemployment for individuals 25 years and older spiked to 13.1% in April 2020. However, the … Continue reading →
The post Most In-Demand Jobs for Bachelorâs Degree Holders – 2021 Edition appeared first on SmartAsset Blog.
10 Money Management Tips to Teach Your Kids About Finance
Knowing how to handle finances is one of the most basic and important life skills. When you understand how to handle your money, you can avoid falling into financial problems and risks. So teaching your children about money is a key step in preparing them for adulthood. Teach them values and terms, such as saving, and they will grow to possess good money habits even up to adulthood. Broaden your knowledge of finance and money matters and pass them to your kids by reading up. Read LoanStart blog for financial advice and learn the intricacies of financing and loans and how they can help benefit your current financial situation.
1. Integrate Money Into Daily Life
Get your children involved with money. For example, you can have a young child join you at the grocery store to help with shopping. Ask them to compare prices of similar items and discuss why the items may be different. For older children, you might allow your child to watch or participate when you pay bills. Explain the process to them. Let your child know how much money comes in each month and how much you spend on expenses. Show to them how expenses add up.
Involving your children in household finances will help build their financial knowledge at an early age.
2. Give Your Child an Allowance, But Consider the Frequency and Amount
There are several benefits to giving an allowance. For one thing, when your child has money of their own that they can spend at their discretion, they will be incentivized to learn how to handle it. Once the allowance is gone, your child will have to save up to buy necessary items. You can teach your child to be responsible for money management and living within their means by sticking to the rules. Disperse allowance on a regular schedule, and never extend "credit."
Some financial experts recommend giving out an allowance to be budgeted once a month rather than once a week. This gives the child a longer amount of time on how to manage a given amount of money. Also, the larger the amount of money, the more management skills are to be learned.
3. Model Good Financial Behavior
Your children look up to you, so your decisions with money will set an example. Are you late on your bills? Are you living beyond your means? Get your financial situation in order and be honest with your children. Let them know the reason behind your financial behavior so that you can discuss financial planning and management as a family.
4. Teach Your Children About Choices
Let them know the reason behind your financial behavior and embark on sound financial planning and management as a family.
Make sure your children know that there are more ways to use money beyond just spending it. Teach your child to save, invest, or donate to charity, and explain why these options are worth the effort, even if they do not offer the short-term satisfaction that comes with making a purchase.
5. Provide Extra Income Opportunities
Occasionally, you can offer your child an opportunity to make a small amount of extra income by having them do some chores around the house. This will teach them early on about the value of earning money. You can then help them decide what to do with the extra money they have earned.
6. Teach Your Child How to be a Wise Consumer
Before your child buys something new, discuss with them the alternative ways of spending money to emphasize the value of making choices. Teach them to compare shops and items for prices and quality. Show them how advertisers persuade people to buy their products. Encourage your kids to be savvy and critical of ads and commercials.
7. Teach Your Child a Healthy Attitude Towards Credit
Teach your child how to handle credit. When you think they are old enough to understand what credit is, allow them to borrow an extra amount of money from you to make a major purchase. Talk to them and negotiate how much amount your child will pay you each week from their weekly allowance, and then collect the money and keep track of the remaining balance each week until the debt is repaid.
8. Involve Your Child in Family Financial Planning
Let your child see how you plan your budget, pay bills, how you shop carefully, and how you plan major expenditures and vacations. Explain to them that there are affordable choices, and allow the kids to participate in the decision-making process. You can set a family goal that everyone can work towards.
Explain to your kids that there are affordable choices, and allow them to participate in the decision-making process.
9. Avoid Impulse Buys
Children are prone to impulse buys when they find something cute or eye-catching. Instead of giving in and buying the item for them, let your child know that they can use their savings to pay for the item. However, encourage your child to wait at least a day before they purchase anything above a given benchmark–for example, 15 dollars. The item will still be there the next day and they will have properly decided with a level head if they still want the item.
10. Get Them Saving for College
College is an important phase that can affect the future of your child. There’s no time like the present to have your teen saving for college. If they plan on working a summer job you can take a portion of that amount and put it on a college savings account. Your child will feel more responsible since their future is at stake with how much they save.
6 Signs Your Personal Finance Software Makes Life Easier
6 Signs Your Personal Finance Software Makes Life Easier Finding personal finance software is easy, because there are countless choices in mobile apps, online programs, and finance software you can run on your home computer. But they’re certainly not equal….
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The post 6 Signs Your Personal Finance Software Makes Life Easier appeared first on MintLife Blog.
Your Guide to Budgeting for Healthcare Costs
Estimate your spending, prioritize your health, start an emergency fund and more.
The post Your Guide to Budgeting for Healthcare Costs appeared first on Discover Bank – Banking Topics Blog.
603: Hit $1 Million in GCI by Buying Online Leads with Jesse Zagorsky
Online leads get a bad rap these days, but real estate broker Jesse Zagorsky knows that they donât deserve it. After taking an entire year off work while living in Thailand, Jesse managed to rebuild his real estate business in record time by buying Zillow and Realtor.com leads. Last year, his team generated more than $1 million in GCI with a business based largely around online lead conversion. Listen to todayâs Real Estate Rockstars and learn how they did it along with several of Jesseâs tips, tricks, and scripts!
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All About NetSpend Cards
With a checking account, you get a debit card to spend your cash nearly anywhere you wish. But many people can’t qualify for bank checking accounts, and in a world where card transactions are increasingly common, that’s a problem. This … Continue reading →
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The Sweet Spot
“Success can get you to the top of a beautiful cliff, but then propel you right over the edge of it.” As a Mustachian, thereâs a good chance that you are a bit of an overachiever. Maybe you fought hard to get exceptional grades in school, or perhaps you have always dominated in your career […]