Kids often view money as having one function only: to buy stuff, right now. Give a young child $5 and he’ll likely spend it all, often looking for things that cost $5. Parents play critical roles in teaching children financial fundamentals, including the importance of saving. Here are 10 ways to teach children to make
A growing concern for many people in their 50s or 60s: Will my mom or dad become the victim of elder fraud? Sadly, the chances are pretty good. In fact, at least 20% of older adults have been victims of elder financial abuse, according to the Center for Financial Services Innovation. Scammers are getting more
Once thought to give a “leg up” when kids enter the real world; in today’s real world of information, complex options and decisions, understanding investing as an adult is now more of a necessity. Investing is a tool to earn money that your child can use their entire life. Since finance is typically not taught
Christmas may be the season of joy and of giving, but it’s also the season when some people add to their debt. If your budget is already tight, it isn’t easy to squeeze gifts, holiday foods, decorations, and other extras into it. Fortunately, you can keep expenses down by shopping sales, making items yourself, and
Michael Farrell, a wealth manager to millionaires, believes there’s much more to inheritance than handing over money. Farrell is managing director of a wealth management firm whose typical client is worth at least $10 million. “We tend to work with a lot of first-generation wealth creators. They have a bit of a blue-collar mentality about their
College is a huge financial investment, but most families believe the high price is justified. According to the Sallie Mae report “How America Pays For College 2019,” a survey conducted in partnership with research-company Ipsos found that seven in 10 parents and students say the cost of college today is either appropriately priced, a bargain, or