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10 Tips to Teach Children the Value of Money

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There are several ways you can teach your children about saving money and finances. And you can never start too early! It's so very important that your kids learn how to effectively handle finances. And the sooner, the better. With that said, do you know that YOU are your child's number one example? They will do as you do. So, with that in mind, I hope you (as a parent) practice what you preach. If you preach one thing and do another...not good! Tips to help children learn the value money and effectively handle finances 1.Give your kids an allowance. This will help with responsibility as well. For example, if your child sweeps out the basement every week, they get $5 for the job. (of course the amount is at your discretion). 2. Buy your kids some kind of a piggy bank. I suggest one that you can't get money out of unless you break it. While you're at it, buy yourself that very same bank and let them see YOU put money into it. 3. Sit down with your kids and explain the family's … [Read more...]

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Single Moms and Money

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One of the biggest sources of stress for single mothers is money. That green stuff you never seem to have enough of. In the current economy money is on everyone’s mind regardless of marital status. However, single moms shoulder an enormous amount of financial responsibility since they are the sole provider in their household. Handling money responsibly and creating financial future goals will give you a sense of security for you and your family. Here are a few ways to enhance a Single Mom's financial well being Get Financially Organized The quickest way to throw your finances in a tailspin is to be disorganized. Follow these organizing tips: Buy an inexpensive binder that can house your bills. Don’t let mail pile up, open it and organize it into the binder. Create an excel sheet and list all your bills, payment due dates, the amount paid, the date paid, and balances. Set up automatic payments. Automatic payments help you to avoid late payments. Create a budget! This … [Read more...]

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Spring Cleaning the Family Budget

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Although the economy has shown a slight improvement, the recent economic downturn has given families quite a scare. People are more aware then ever of their finances, which is a good thing. This season when you are spring cleaning your home take a couple hours to spring clean your budget and finances. Finances can be a source of anxiety in any family, but as a single mother it is vital for me to keep my budget in tip top shape. Here are a few spring cleaning rules I use for my budget Take Inventory of Your Bills Know thy bills! This is a ground rule to follow if you want to keep on top of your finances. Taking inventory of your bills helps you to develop an accurate budget. Create a financial spreadsheet with the following information: Name of the Bill Amount Due Due Date Balance Date Paid Amount Paid Reference or Check # used for payment A financial spreadsheet is a simple way to keep track of your bills and avoid late payments which affect your credit score and … [Read more...]

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