Raising a kid is expensive. That comes as no surprise. But the actual price tag may cause your jaw to drop just a bit. The U.S. Department of Agriculture released a report the other day that estimated the cost of raising a child born in 2012 for 18 years is over $240,000. And since 2000,… Read More
Financial Pitfalls for Couples (as reported by Miranda Marquit on BeingFrugal.net)
When two people combine their finances, it’s important to make sure both people see eye to eye on personal finance. Just like in other areas of a relationship, it’s very important to talk openly about goals and expectations. Not being on the same page with your significant other can lead to financial problems during the… Read More
Most Important Financial Skills to Learn (as reported by Nancy Anderson on Forbes.Com)
When it comes to financial advice, it seems that everywhere you look, you will hear something new. And with the complexities of financial markets, and so much to learn about managing your finances, it can feel quite overwhelming at times. But if you practice just a few of the most important financial skills early in… Read More
Making Sense of Money Graphic by The Financial Brand
How many Americans have a long term savings plan or an emergency fund? Did you know that many financial advisers recommend an emergency fund to cover nine months to a year of household expenses? Reading numbers and statistics are always important, but sometimes seeing is believing. We’ve linked to the attached info graphic developed by… Read More
Finding Happiness with Money (as reported by Mandi Woodruff Finance.Yahoo.Com)
We all know the old adage that money does not buy happiness. But why do so many people think that more money will make them happier? And why is it almost never the case the more money leads to more happiness? Mandi Woodruff addresses the answers to these questions and makes some suggestions for spending… Read More
How To Teach Children About Investing (as reported by Aparna Narayanan with The Wall Street Journal)
At what age should we start the conversation about personal finance and investing? Investment professionals share their experience from teaching their own children. The suggestions are quite varied and easily approachable; sharing bank and investment account statements, purchasing stock to explain the concept of proportional ownership, and how to tackle more abstract ideas like inflation… Read More
Selecting a Financial Adviser (as reported by Vincent King on MoneyNing.Com)
Picking the right financial adviser might be the best financial decision that you make in your lifetime. The right adviser can help guide your investment and purchasing decisions so that you can put yourself on the right track. But not all financial advisers are made equal. In his advice column, Vincent King addresses nine characteristics… Read More
Children’s Understanding of Money is Earlier than once thought (as reported by Andrew Oxlade via telegraph.co.uk)
A recent released study by Cambridge University has provided some interesting insight into how and when children learn to understand finance. The age at which these habits develop is much earlier than many might think and will have profound effects throughout their lifetimes. The evidence in support of financial literacy education early in life continues… Read More
Should I budget for that big ticket item? (as reported by MoneyTalksNews on Mint.com)
It may seem a bit counterintuitive, but based on some recent studies it appears that budgeting for high ticket items may actually lead you to pay more for them in the end! The findings suggest that people who have a dollar amount that they’re willing to pay in mind before they start shopping ignore price… Read More
The Importance of Shopping Banks (as reported by Pinyo on Moolanomy.Com)
It used to be that you did business with the local bank in your town. You didn’t have much to choose from, so you took what you could get. But in today’s world, you can choose a seemingly endless supply of banks, both online and off. So, to be truly financially responsible, it’s important that… Read More