Long before the President called on Americans to give to the people devastated by the underwater earthquake and resulting tsunami back in early 2005, my husband, Michael, called on us. He wanted and needed to do something to help. Continue reading
Long before the President called on Americans to give to the people devastated by the underwater earthquake and resulting tsunami back in early 2005, my husband, Michael, called on us. He wanted and needed to do something to help. Continue reading
To avoid the scenarios I described in my last post where it is all too easy for kids to spend money they have not earned, start by teaching your kids how to set a spending goal. Continue reading
As adults, credit and debit cards are a convenience we’ve all learned to rely on daily. But what are your children learning when you pull out your credit card? Watching parents use credit cards is the most visible money behavior our children see. But our children aren’t ready to use credit and debit cards – not just yet. They first need to learn to use coin and currency responsibly.
However, today’s kids are not getting the opportunity to do so. Continue reading
Let’s take a look at compound interest as a way to help your child understand why saving is so important. Remember that $4 spent each day on “I want” items? With that $4 of “I want” money, pose this question to your child: At age 12, you decide not to buy soda or snacks. Instead, you save the $4 a day and put it into a savings vehicle, such as a long-term CD that pays 5 percent annual interest, and leave it alone. At age 67 when you are ready to retire, your savings totals how much: (a) $1,159, (b) $25,355, (c) $80,352 or (d) $427,025?