Educating Children about Money: An Age by Age Guide

Educating Children about Money: An Age by Age Guide

Teaching primary financial skills to your children provides the highest level of influence over  spending behaviors later in life. While this puts the onus on parents, failing to educate your children can put them at a disadvantage as they move into adulthood. When parents fail to teach, children may only learn hard financial lessons after making financial mistakes that may require years of recovery.

It’s never too early to learn new skills: basic money skills can be taught at all ages and requires consistency more than proficiency. Parents do not need a master’s degree in finance and children as young as three can begin to understand basic financial principles.

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8 Ways Remarriage Impact Debt and Wealth Creation?

8 Ways Remarriage Impact Debt and Wealth Creation?

Remarriage, especially later in life,i can be more complicated than first marriages:  Couples are further along in the career path, and may have accumulated more assets and debt. If this is you, perhaps a previous marriage could have put you behind on long-term financial plans and retirement, and you may still be playing catch up. Retirement is no longer a faint glimpse on the horizon, but rather a concern that remains in steady view.

Previous marriages with children add additional considerations, whether the children are at home or on their own. They can impact both the monthly budget and estate planning decisions for the new couple.

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Understanding The Differences Between Good and Bad Debt

Understanding The Differences Between Good and Bad Debt

Many consumers have a deep desire to become debt free. The question is: What exactly does debt free mean? Does living debt free mean you will never use credit again? Does it require paying cash for everything and cutting up all your credit cards? Does living debt free include large investments like a home and the accompanying mortgage or only eliminating credit card debt?

Everyone has different goals regarding debt elimination strategies because we all have different life experiences that color the way we see borrowing. There is no one size fits all when it comes to defining what it means to live a debt free life. Some of the differences in attitudes stem from recategorizing debt as good or bad debt, in an effort to redefine the typical negative view of borrowing. Let’s take a closer look.

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Top Ways to Save On Everyday Living Expenses

Top Ways to Save On Everyday Living Expenses

Saving money is much easier when you can find simple ways to cut costs that don’t have a noticeable impact on your lifestyle. The new found money can be used to pay off debt faster or build an emergency fund to pay for unexpected expenses and leave you more financially prepared.

Your family budget is like a puzzle. You must move the pieces (current spending) around to make room for all of your financial needs. Successful money management is finding the right combination of spending and saving that will pay today’s bills, reduce yesterday’s debt, and prepare for tomorrow.

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