Next week is national money smart week, a national effort to help raise financial literacy across the country. Research has proven that people are more financially secure when they develop a strong foundation of financial skills. Being money smart starts with foundational principles and builds upon this basic knowledge. No matter one’s stage in life, there is the opportunity to develop your financial IQ.
We have heard them our whole life and some even try to live by them, but do we really know what they mean? Understand how we can put some of these financial words of wisdom into practice can be very helpful for long term financial success.
Have you thought about what you might do if you received an unexpected windfall money, say from lottery winnings? Most of us are not likely to win the Powerball but it is very likely that many of us will receive bonuses, inheritances or even large tax refunds. Making smart decisions when this happens can change your financial future positively.
Whether you have 12 weeks before your child attends college or 12 years before that big day, there are several ways to fund the cost of college. 529 plans are just one of the many options available to you for funding college education. Knowing all the options is important regardless of how soon your child is heading to college.