You are here: Home / Archives for admin

Effective Money Management: Teaching Your Kids to Save Money

March 3, 2012 By Leave a Comment

(Photo credit: Wikipedia)

You have taught your children some of the most important lessons in life. You taught them their ABC’s. They learned how to tie their shoes. You have even instilled good manners, as your kids say please and thank you when appropriate. But as parents, we tend to get hung up on so many of the elementary lessons that we forget to start working on the future. Your child may be too young to, say, balance a checkbook, but it’s never too early to instill basic money skills that will stay with them for the rest of their lives. Why do you think parents originally started giving out allowance? It is to start teaching their kids about basic money saving and spending habits.

Here are a few basic steps you can take to start teaching your children about saving money.

1.) Find a Larger Goal for Them to Save For

Is there a large toy or video game that your child has his eye on? Work with your child to help him reach his goal. Draw a thermometer or piggy bank with different levels of cash marked on the side. As your child reaches these goals, fill in the graph. Your child will be able to visually see his progress on the wall.

2.) Match Their Savings

If your child is saving up for an exceptionally large purchase, they can be easily frustrated or discouraged — it’s hard to reach $50 or $100 when you’ve only got a $5 allowance! To keep their hopes up, tell them you’ll match them dollar for dollar: every time they place a dollar in the piggy bank, you’ll put one in too. It’s an external way of encouraging your child to save.

If your child is a teenager, you may want to lower the percentage point. If they’re saving for a car, tell them you’ll match their savings 25% — but if they’re saving for college, you probably want to go as high as 50-100%.

3.) Find Online Lessons and Support

The Internet is full of savvy parents and financiers willing to help out fellow parents. Sites like adstalker.com can help you brainstorm future lesson plans or learn about the importance of helping your child understand basic finance skills.

Learning to save money is every bit as important as ABC’s and 123′s. We teach our children mathematics and spelling to prepare them for the future. Shouldn’t we do the same with basic life skills?

Filed Under: Family Tagged With: , ,

Budgeting Your Money Wisely

February 27, 2012 By Leave a Comment

budget (Photo credit: 401K)

Money management has become increasingly more important in today’s society. Money saved can also mean money spent in today’s market. Here are a few tips and hints to help you budget your money in a positive fashion.

Spending

To understand how to spend money correctly, you must first figure out where you currently spend it. The amount you are spending and where you spend your money will help you save later by creating a budget list or expenditure list. This is important because you can categorize your spending habits and see where you might be able to cut back if you need to do so. It will allow you to see where most of your finances go and it will let you pinpoint areas where you might need to supplement. For instance if you can find the same products somewhere else for less it might be in your best financial interest to shop at the other place.

Changing Habits

Many people often spend out of habit rather than to budget. Eating out is certainly easier than cooking at home but it is more expensive. So it is a good idea to find a comparable solution, like setting aside a certain amount for eating out and/or extracurricular activities and you will notice your expenditures change.

Traveling

Traveling to different areas can be expensive, whether you are visiting or moving. It might be a good idea to research on US States where you can Stretch your Dollar before you plan your trip. This way you can find a spot that is both affordable and luxurious for you. This will also allow a more regimented plan for your stay while possibly leaving a bit of room for those little unexpected detours.

Planning Together

When you live with someone else, be it your spouse, parents, or otherwise, it is important to work on the budget plans together. If only one person is working towards a budget where they are in a shared budget and/or income situation, it is hard to actually accomplish anything. Discussing the budget and the household expenses can be beneficial for all parties involved because it allows more accurate details to be given for the budget, and it defines who is spending more and on what. It also allows a surplus to be divided evenly or in a way that both parties can agree on. Like in any relationship, support means success.

Filed Under: Personal Finance Tagged With: , ,

Perfect Gifts for Your Teen

February 26, 2012 By Leave a Comment

Teens are notoriously hard to buy gifts for. First, they already seem to have everything. Second, they are incredibly finicky. Third, the items teens want, often cost way more than our budgets allow. But take heart, whether you’re shopping for the Sweet Sixteen or the Nifty Nineteen, gift-buying help is here for you.

Image from Flickr

Connect Them with Friends

Keeping in touch with close pals is important for teens. Show them you support their relationships with a cell phone that keeps them connected. The [INFOGRAPHIC] Android Market Evolution, with open source code, has spawned the development of a whopping 300,000 available apps for download. Teens can do everything from keeping tabs on their purchases to getting instant weather alerts with the new smartphones. Affordable plans are available to keep the budget in check, and permit your teen to have some freedom. You’ll also feel safer knowing they have a reliable way to contact you when they’re away from home.

Entertain Them

Music and movies are also important to teens. Much of the enjoyment is social – they enjoy sharing the newest bands, stars, and gossip with their friends. Whether your teen is a Star Wars junkie or a Gleek, keep them updated on their favorite music and movies with the latest MP3 player, or video download machine. New devices and services are developed constantly, some services offer a set price for unlimited music or movie downloads each month. Other services charge a reasonable fee per download. Consider supplementing the gift with a month of free music or movie downloads.

Encourage Reading

Music and movies are great, but we also want educated kids who like to read. Give your teen the gift of access to thousands of titles, from the classics of Mark Twain, to the newest “Twilight” books. Barnes and Noble offers the Nook, and Amazon offers the popular Kindle. Many titles are past copyright dates, and are completely free for download. Many more books are available for only one dollar or less. One of the niftiest things about these ebook devices is instant access to the newest must-have novel as soon it is made available to the public.

Still Stuck?

A budget friendly gift for the finicky teen is a sampler of fragrances. Many designers offer gift sets for girls or boys. These designers allow the teen to sample each fragrance from the designer’s label, sometimes for a fraction of what a full bottle of cologne or perfume costs.

Gift cards are an alternative to the cop-out gift of cash. If your teen enjoys Abercrombie and Finch, Old Navy or American Eagle Outfitters, give them a gift card from their favorite store. It shows you know them well enough to choose their favorite shop, but doesn’t dictate what they settle for when they open their gifts.

Filed Under: Parenting Tagged With: , ,

Your Claims for Your Child After a Divorce

February 23, 2012 By Leave a Comment

Divorce is never fun for anyone. It is a sad and frustrating event, especially if you’ve been with the person for a long time. Even though you and your partner are the ones who should settle the problem, your child might be the one who suffers the most. If you and your spouse have chosen to go your separate ways, you need to consider what claims are made available to you and especially your child.

Image via Wikipedia

Tax Credits

After a divorce, you have to be aware that your financial and tax situations will change. If you have received full custody of your child, you can claim earned income credit, child tax credit, and other child-related tax breaks. There are tax situations that allow you to file jointly or split exemptions, but both parties should reach a common agreement. This may be an opportune time to consult a Bergen County Divorce Attorney.

Child Support

This payment is made by either parent to support his/her child. Typically, whoever has the full custody or who is deemed worthy of custody is the one going to receive this legal obligation. Remember that a child support payment is non-taxable.

Joint Custody

If you claim joint custody with your spouse and you feel you don’t see your child enough, you can request more time. This is done by keeping records. You need to indicate how often you see your child, how long they remain with you, and how many times you have missed seeing your child. Some parents may feel that once a week or twice a month isn’t enough, especially if your child is taking the divorce hard.

You should also be aware that in joint legal custody, both parents have the right to their child’s records (e.g. medical, education, etc.) But, if you and your ex-spouse have filed for joint custody, then you view these records for the best interest of your child.

You may be pre-occupied dealing with the long, complicated process of divorce that you forget the welfare of your child. Keep in mind that despite all the legal issues, your child will require more attention and a lot of support from both of you. Divorce can be very hard on a child, and they may even feel it is his fault. Help him understand the reason of your separation. Talk with your child to reassure him the separation is not his fault.

Filed Under: Family Tagged With: , ,

Top 3 Advantages of Divorce

February 16, 2012 By Leave a Comment

Image via Wikipedia

Deciding whether or not to divorce your spouse isn’t an easy thing to do. At one time, you loved each other enough to commit for the rest of you lives. You and your spouse are needed by your children. But if you are unhappily married and realize there is no “easy button” to fix the issues in your marriage, your only choice is divorce. There are many changes that come with divorce and some are not bad. There are a few ways divorce can benefit you.

 Improve Your Health

Living in a miserable, stressful situation day-in and day-out isn’t good for you health-wise. Everyone knows that stress is harmful to your health. Long-term exposure to stress can cause headaches, stiff and sore muscles, and may even lead to a debilitating stroke or a fatal heart attack. A stress overload makes you irritable, frustrated, and exhausted. Co-workers and friends may find it difficult being near you.

Getting a complete and total divorce will reduce some of the daily stress that you’ve been dealing with. Living without daily confrontation in a positive environment will lighten your load and your mood. Your personality will change for the better and your outlook may be more optimistic.

Make Better Decisions

If you own a business, once divorced, your partner will no longer have any holdings in your business. If divorce terms granted him or her a certain percentage of your business, you can buy your ex out, making it entirely yours. You’ll be able to expand, alter, or move if you choose without any complications.

Once single, your spouse will have no bearing in any legal decisions. He or she will not be able to make decisions regarding your mental or physical care. Would you want someone who despises you to decide whether to pull your body off life support?

Benefits for Your Children

A toxic environment isn’t good for kids at all; divorcing will lessen their stress as well. Once the initial shock is over, they will adjust and return to normal, fun-loving children.

Afterwards, children will learn responsibility by having to take homework and other school projects back and forth between homes. They will learn to communicate effectively making sure both parents know pertinent information about events or sports activities. If and when someone new enters the picture, kids will learn to relate to new people; even if it’s someone they don’t necessarily want to relate with.

Ending a marriage isn’t painless or simple. If you’re sure it’s time to move on, make the leap and look forward to the benefits to being divorced.

Filed Under: Parenting Tagged With: , ,

Easiest Way to Buy Tickets to Portland

January 24, 2012 By Leave a Comment

Travelling to the upper northwest corner of the United States, to Oregon, Portland in particular? It could be a business trip, whether it is for setting up a new venture, or for training and improving an already established company. It could also be a vacation or family visit, including a tour of museums, outdoor treks, and of course, boutique shopping spree. Portland has a lot to offer, not only for the weary travelling businessman, but also to enthusiastic tourists from different parts of the globe.

 

Image via Wikipedia

Once you decide to travel to Portland, you can now start to work out important details of the trip. How many people will you be going with? Is this a family vacation or a business trip? Is air travel involved? A trip to Portland can involve a drive up the coast for some, and yet for others means a flight across the country. While the attractions of Portland can certainly make it a desirable vacation destination, getting there is another game altogether.

 

Image via Wikipedia

Can you get cheap tickets to Portland? How do you find them? The travel part of the trip is a large part of the vacation or business budget. If you or a member of your immediately family travels for business, frequent flyer miles are always a great way to save money on the trip. Those who are not frequent flyers may not be aware of the benefits that this could bring. If you are a seasoned traveler, make sure to keep track of those miles, use them before they expire to save on your travel expenses.

The Internet is truly the information super highway. The deals are there for the taking. One search will bring up many, many sites offering good deals on airfare. The key to getting the best deal is to know where to look. Take the time to visit the sites on the Internet. Make sure you read the fine print. There are as many scams as there are good deals. Check out the reviews by other people, check the reputation of the site. If you have to give a credit card number, make sure you are dealing with a secure site.

As with any good deal, taking the time to research the best deals and becoming familiar with the details of each will make sure that you get the best deal, at the best price. The business trip will run smoothly, and the vacation will just that much more relaxing and fun, with the knowledge that you were able to do it for less.

Filed Under: Travel Tagged With: , ,

How to resolve Financial Distress in times Emergencies

January 23, 2012 By Leave a Comment

Image by theseoduke via Flickr

We never know when financial difficulty can hit us. With the recent economic wobble, most people don’t have any extra resource left for emergencies when such circumstances come up. This leaves you with few options just to recompense the burden of financial downfall. Where else some tend to borrow from their friends, others borrow from the traditional banks or other lending services.

But we all know that these have drawbacks such as credit policies, bunch of paper works and other requirements like credit history and borrowers legibility of paying back loan.  If you’re in dire need of money, and you don’t have any option to think of, there are lenders that provide payday loans or cash loans for quick money during an emergency.

Consider Payday Loans

Payday loans, such as those from Paydayone.com, are usually given by banks and private loan agencies in either online or offline transactions. Applying for a personal installment loan is a good option for anyone that needs quick cash every now and then during emergency situations. These loans are accessible and there are no unexpected expenses, but simple equal periodic payments.

Some lenders consider borrowers with few assets as long as they have low credit history. The payments are fairly low, so you can settle your loan as long as you know how to handle finances. When your loans are already paid up, you‘ll have the chance to receive loans with lower interest rates.

 

Things You Need to Know About Loan Approval

Needless to say, there are instances when payday applications are declined. This is not to discourage borrowers but rather, the sustainability of the business. Before you can borrow money from payday loan services, it is imperative that you’re currently employed or else, you’ll be refused for getting a loan.

This also applies to your repayment history. If the bank finds out that your payment history is poor, it is more likely that you will not get your requested loan. Another reason that will get your loan refused will be the maximum amount of loan you need, yet you have a low income or poor credit history. So before you decide on the amount your borrowing, think it over and arrange on a lower amount of loan.

While there are personal loan agencies or banks that run credit check for personal loans, others are exceptional for borrowers who have disability or social security funds. Plus, they can use their personal installment loan to build a good impression as they pay it off and acquire larger loans in the future.

Filed Under: Personal Finance Tagged With: , ,

Get Emergency Loans and Boost Your Cash Flow Quickly

January 10, 2012 By Leave a Comment

Life is full of all sorts of uncertainties. Unexpected expenses can seriously affect the financial stability of those who do not have enough money to attend to such circumstances. Millions of people are now turning to installment loans to pay for unforeseen expenses such as medical bills, car repair and other expenses that cannot be delayed any further. Here are a few things you need to remember before applying for an emergency loan.

Image via Flickr

When to Use Installment Loans

 

Short-term loans are ideal for those who are in need of a small amount of cash to tide them over for a short period of time. People do not only apply for these loans to get their cars fixed or pay for medical care. Some of them also prefer taking out short-term loans to avoid the exorbitant fees of bounced checks. Installment loans are great for all things that just can’t wait until your next payday arrives.

 

If you have to pay for emergency expenses, taking out an emergency loan is definitely a great option. Having access to quick cash is definitely necessary, so you and your family can get through the emergency situation without having to worry about incurring much debt. Emergency expenses such as unexpected hospital bills and much-needed home repairs due to disasters can be easily covered when you apply for an installment loan.

 

Why Should You Apply for a Short-term Loan?

 

Aside from being faster to process and easier to repay, you will also get a lot of benefits from an emergency cash loan. For one, it can help you maintain good credit scores by helping make your credit payments on time. These loans are also cheaper than the usual overdraft fees that banks charge, so it is better to apply for a loan instead of overdrawing some checks in times of urgent need.

 

The best thing about short-term loans is that you can also submit your application online. For instance, you can get a personal loan from Plain Green Loans through their quick, simple and secure online application. You will get a reply in seconds, so you will immediately find out if your application was approved.  You can then expect your funds will be deposited to your checking account in as early as two days.

 

When it comes to any financial emergency, installment loans are always your best option. All you need to do is find the official website of a reputable lending company and provide them will all the information they need to process your loan application.

Filed Under: Personal Finance Tagged With: , ,

Things to Consider When Booking a Hotel

December 3, 2011 By Leave a Comment

If you’re thinking about getting away on a vacation, you have probably given a lot of thought to your ideal destination. You know what areas you want to visit, what tours you want to take, and what performances you want to see. However, after the museums close and the concerts are over, have you thought about where you plan to rest your weary head? The amount of time spent at a hotel on vacation is considerable, so this little decision can actually be the thing that makes or breaks your vacation experience. Here are a few things to consider when booking your accommodations.

 

Image via Wikipedia

Is it Close to the Main Attractions?

If you plan to do a lot of sightseeing, make sure your hotel is near the places you want to visit. If you have to drive a long way or spend a lot of time on public transportation to reach that beach or that theme park, you’ll be wasting a big chunk of your day that would be better spent enjoying your vacation.

Are You Traveling With Pets?

If you bring your furry friend along, make sure your hotel allows pets. Many hotels require an extra fee for having a dog or cat in your room. If you are traveling with a dog, be sure to pick a room that has easy access to the outdoors, so that your pet is comfortable.

Are There Things for the Kids to Do?

You might not want to spend every waking hour out and about while on vacation, so it is important to choose a hotel that has plenty for kids to do. For many kids, the highlight of the vacation is the hotel pool, so make sure your hotel has one! Let the kids kick back and watch TV in the hotel room. If you’re going out and leaving the kids to entertain themselves for a while, make sure that the TV offers parental control options so that you have some control over your children’s media selections. Some hotels allow you to rent video game consoles and games, which is always a hit with the kids.

 

Image via Wikipedia

What Amenities are Offered?

If your vacation is longer than a few days, it might be a good idea to rent a room with a kitchenette so that you don’t have to eat at a restaurant every night. You can prepare dinner or pack a lunch if your room offers this kitchen amenity. In the very least, having a fridge in your room allows you to keep groceries, water bottles and leftover food cold. Does the hotel offer wi-fi internet access to your room? Is a free breakfast part of the package? These considerations may influence your choice of hotel.

You might think it’s hard to get a hotel that has everything you want for a reasonable price, but booking last minute hotels can make staying in your ideal hotel much more affordable. Make the most of your vacation by staying in a hotel that meets your needs.

Filed Under: Uncategorized

Helping Your Child Do Homework ? When To Interfere And When To Step Back?

June 7, 2011 By Leave a Comment
NEPAL- MARCH 12: (FILE PHOTO) Khagendra Thapa ...

Image by Getty Images via @daylife

Why do parents help their child in doing the homework? Don’t parents know that homework is something that their child ought to do on his or her own? You should choose the educational institution of your child with a lot of care. If teachers cover 10% of the curriculum in school and hand over the rest as homework, it is obvious that you have chosen the wrong institution for your child.

However, if bulk of curriculum is covered in school and practice tests are handed over to the child as homework, you would be making a big mistake by interfering in the process. Many parents make the mistake of comparing the homework they used to do with the homework given to their child. Well, you were 10 years old more than a decade ago. In such a scenario, expecting the level of educational standards to stay the same for many decades at a stretch does not make sense.

The most harmful consequence of interfering in homework is that your child finds a reason to criticize the curriculum and the educational system. You may not be comfortable with the current system but you are aware that there’s no escaping the same. On the other hand, your child may conclude that simply criticizing stuff is enough to escape ones obligations. Sooner or later, the child will have to wear the consequences of poor grades.

If you feel that your child is getting too much homework, try having a word with the teachers. However, make sure you do not undermine the authority of the teachers and the educational institution by criticizing it in front of your child.

 

 

 

 

Filed Under: Responsibilities, Working Parents Tagged With: , ,
« Older Posts