Starting college is full of all kinds of new experiences. Students are left on their own for probably the first time in their lives, and it can be daunting.
Using a credit card can be one of those “firsts,” and parents can help by explaining how credit cards work and instilling good financial habits in them. Here are some credit card habits students should learn before they get to college:
Have a JobTo get a credit card in their name, students will often have to have a job and a credit history....
So a babe is on the way? Congrats! Along with the chaos of, well, everything that is to come, your finances are about to experience an upheaval, as well. According to the U.S. Department of Agriculture, it will cost upwards of $245,000 to raise a child born in 2013 to the age of 18—and this does not include college. Feeling that bank account burn already? Below are five tips for rocking your budget as a new mom or dad.
1. Tweak the budget. Your new little one is going to cost a pretty penny. Fr...
Children learn by observing others around them, particularly their parents. Kids often imitate what they see adults do, whether it’s positive or negative. If you would like your children to be polite and respectful and to follow rules, demonstrate those behaviors in your own interactions with others.
Teach Kids to Communicate RespectfullyChildren learn how to speak to others by seeing and hearing how their parents communicate with other people. If you want your children to say “please” and “tha...
Teaching your child about money by giving them a piggy bank or having them earn an allowance by doing household chores is a great start to learning about how to earn and save money.
Spending wisely, however, is another lesson. And it will probably come away from home and without adult supervision.
A debit card—usually linked to a parent’s checking account—or a prepaid debit card can help children learn how to manage money jointly with their parents. Their spending can be monitored, such as thro...
