5 common mistakes new parents make

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:

Baloney and the economy

I came across this article on Yahoo! News via The Motley Fool this morning that I have to share. I’m not going to waste anytime, so here you go.

6 Money Matters to Stop Worrying About

I’m not a huge fan of Suze Orman. In fact, not much of one if I’m being honest. But, her latest feature in O at Home was one of the few Orman tidbits I can’t argue with. Simply put, it’s the soundest advice I’ve heard from her in a long time. Here’s how the article starts:

Measure twice, cut once

I came across a blog this morning run by a twenty-something soon-to-be-graduated college student. He wrote a great post on what he currently does with his money and outlines some of his post-graduation plans. It’s rare to come across a 20-year old who thinks about money management let alone investing. He asked for some suggestions and advice on how he could do things differently, so I offered a few suggestions. I thought this might help someone else, that’s why I’m posting my recommendations here.

4 questions to get and keep you on track with retirement

If you can’t answer yes to these 4 questions, you’ve got some work cut out for you.

Life insurance is a bad investment product

I’ve always looked as life insurance as a replacement for income lost if I die. But, some folks also see it as a means of investing for retirement. Most insurance agents will push any type of life insurance that will benefit their pocket book while convincing customers that it’s a ‘good’ product. I couldn’t disagree more. I like to keep my insurance and investments clean and separate. Looks like Money Magazine senior editor Walter Updegrave feels the same way.

4 reasons why borrowing on your 401(k) is a bad idea

A recent conversation with a teammate prompted me to write this post about 401(k)’s. I’m sure some of you are aware of Wachovia’s recent announcement to buy out AG Edwards. Well, my teammate just happens to work for AG Edwards and, as in most buy outs, she’s left making the decision of finding a new job or sticking around a foreseeable roller coaster ride as the transitions are made.

Seven Steps to Riches

Warning: This is not a get-rich-quick scheme. These steps, if practiced, will bring prosperity and wealth, guaranteed. They require patience and consistency. Do you have what it takes? If so, read on.

10 Components of A Healthy Financial Plan

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.

Making the most of your retirement savings

It’s absolutely crucial that we understand the differences between tax-deferred and tax-free when it comes to our retirement options. Tax-deferred plans like a 401(k) and traditional IRA can be eaten up by taxes if you’re not careful. Of course, if you have a large enough amount in those accounts, it might not be an issue. Still, why give the IRS more of your hard-earned money than you should? CNN Money offered some ideas on how to sidestep IRS traps, legally.