Posts filed under ‘Kids’
Lots of people are in debt because they make things complicated. You make things complicated when you can’t afford simple. Buying a car with cash is simple. But since most people don’t have cash, they go into car debt and get complicated. (more…)
Let’s face it: Children aren’t the only ones who need to be taught proper money habits. Sure, their money plan may be simpler (saving to buy that Barbie or Tonka truck, or buying that Barbie or Tonka truck), but the basic principles of living on less than you make and saving for purchases with cash is something that adults struggle with. And you can’t afford to do that when kids come into the picture.
Here are 5 common mistakes that new parents make, and tips for avoiding them: (more…)
I came across an article on USA Today that dealt specifically with teaching your kids how to be good savers. I think it’s absolutely crucial for parents to teach their children how to handle money. Here’s a brief listing of the basic financial principles to ensure your child’s financial future is secure. (more…)
A couple of articles and features in the July 2007 issue of SmartMoney magazine caught my interest. I thought some of the information would be useful for others so I wanted to share. (more…)
Here at MoneyTalk, we’ve talked a lot about the importance of financial planning and management. Without planning and good money management, the odds are pretty low in reaching financial success. This post is a break down of the ten major components of a healthy financial plan and how they can help you get back on track with your finances and life.
CNNMoney had some great gift ideas to help you teach your kids about money this holiday season. Here they are, in short:
- Roth IRA
- Alexander, Who Used to Be Rich Last Sunday by Judith Viorst
- Payday, game
- The Sims 2: Open for Business
- 529 Plan Contribution
I think it’s important that you teach your kids how to handle money as early as possible. Our 3-year old already undersands that she gets money or commission when she does certain chores around the house (there is no such thing as an allowance). She has a clear jar to put her money into, until she wants to buy something. It’s great. She takes her money out, we go to the store and help her figure out what she can afford, and she pays.
I think Dave Ramsey’s quote fits well: “Our parents never talked about sex and money. We assumed they didn’t have any, turns out they had both.” If you don’t teach your kids, no one else will.