If your son or daughter is heading to college this fall, both you and your child most likely have a lot on your mind – finances, meeting new people, choosing a major, and more. With all of these conversations happening, it’s a great time to talk with your child about the basics of budgeting, establishing credit, and opening a free checking account.
We all understand that budgeting is the key to saving more money and to having more money to spend. What many people don’t realize is how small budgeting blunders can snowball and become big issues over time. Avoiding most if not all of these budgeting mistakes can make a significant difference in your budgeting success.
Teaching kids about money may not come naturally to most. But like any skill in life, giving your kids hands on experience when they are young will pay dividends later (pun intended). Below you’ll find four simple ways to teach good money habits.
It’s easy to get discouraged when we haven’t saved the amount we would like for retirement. However, it’s more beneficial to use that energy toward fixing the issue rather than dwelling on past mistakes. There are several ways you can catch up on your retirement savings and it’s never too late to begin.
Following a budget can be restrictive, tiresome and grows old really fast. Unfortunately, budgeting is the best way to stay in control of your money, live within your means and have less financial stress in our lives. Don’t worry, there are ways to avoid budget burnout especially if you recognize the causes of being overwhelmed by your budget.
The start of the year is a good time to start planning, especially if you have a major life event in your future. If you follow a few smart financial tips these life events don’t leave you broke and help you control the emotional aspect of these events that can lead to irrational financial decisions.