You could make:
Interest you could earn:
Your total savings could be:
Early Earners Articles Library intro here.
Online banks can afford to offer you higher interest rates because they save on the cost of a physical branch location and its employees. Do you really need someone to greet you with a smile when all you want to do is get some money into a savings account? Here's a report that shows you [...]
The WSJ posted a fantastic article on how to get your teen to stop relying on your money and start becoming financially independent by age group – Wean Your Teen off the Bank of Mom and Dad. They mention some of the steps we advocate such as setting up savings accounts, matching your teen's earnings, [...]
One of the most challenging periods of parenting is generally the teenage years for girls. One reason is because they discover material items like fashion, jewelry, makeup, etc. How do you teach responsible spending to your daughters who are heavily influenced by keeping up with their friends. The Wall Street Journal has an article that [...]
The Wall Street Journal list five things you should look at before you decide to co-sign your child's college loan. Most people don't want to think that it is a possibility that their child may not be able to make payments, but if you are the co-signer, you and your credit score are on the [...]
Think of it as giving your kid his first job, you could actually be paying someone else for doing some of these things. Just see this recent article about what all your house work is worth.
For a very long time, banks showered college students with enticing free gifts to encourage them to open credit and debit cards. The result was beneficial for financial institutions but disastrous for the students as they racked up high levels of credit card debt by graduation. Recently campuses have forbidden gift-giving to students in exchange [...]
You really need to know what you are making and what you are spending, keeping an eye on your goals – home, car, vacation; and saving up for them rather than going into to debt for them. See this recent survey about what you think you know.
Give your college grad this article – it is easy to understand and gets to the point: Your children have time on their side so take advantage of compound interest! Interestingly, I did all 5 recommendations when I graduated from college and which contributed to my healthy retirement balance. The best idea in this article [...]
This is an eye-opening article on how four 20 – 30 year olds are now financial disciplined as a result of the lifestyle their parents exposed them to as children. The common theme was watching what you spent but the most effective method was involving the kids in the frugal decision-making process. It's encouraging to [...]
Though you should start much earlier in life, college is really the last cocoon in which you can teach your children how to manage their finances. If you end up paying for the whole thing (including living costs and fun) you are missing the opportunity to start them on their financial independence. There's even a [...]
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