Last week’s blog addressed the concept of not spending as a form of saving. This is a good learning experience for kids who, by nature, have short attention spans. The idea of saving for something next week or next month makes sense because it is within a kid’s perspective. How can you possibly talk about [...]
‘Tis that time to make resolutions. My bank sent me a newsletter with a financial checklist for 2012. Let’s wander through the list and put it in perspective for an average person. Identify your financial goals for the year. What is a financial goal? Buy a new car, pay off your mortgage, increase your savings, [...]
In September I wrote a blog Viewing national debt as a family budget. With America’s debt now at $14 trillion, most of us can’t get a handle on numbers with that 12 zeros. Here’s a different spin on the numbers, in the form of a fable parents can share with their kids. Taxpayer goes to [...]
A perennial question for parents is, “Do you pay your kids to do chores?” But the real question for you to think about is, “How does paying (or not paying) your kids for chores fit into your overall plan for teaching your kids how to manage money?” In my opinion, I believe that each time [...]
Are you keeping track of your money? What about the invisible spending? What is invisible spending and how does it affect your money and marriage? Join Dr. Taffy as she interviews Lynne Finch, author of The No-Cash Allowance. Lynne will share what No-Cash allowance is and how it occurs. About the show: Money and Marriage [...]
Why is the America’s national debt so high? A recent article presented an excellent graphic using a family budget to show the national debt as “credit card” debt, something we all can relate to. This visual explanation makes it easy to understand that as a county we overspend with little attempt to manage our money [...]
Recently I read an article that posed an intriguing question–what ever happened to our relationship with cash? The article, When using cash is better than credit, suggested that consumers should use cash instead of credit cards for day-to-day expenses. Why? Because psychologically money is more real when it is in the form of cash. Really? [...]
Parents often ask me, “How much allowance should I give my child?” Alas, there is no magic formula. If you really want to know how much money to give your kids, look no farther than yourself. As a parent, you are in the unique position to transform your kid’s allowance into one of your most [...]
Here’s a little story for all you parents out there. Parents often tell me about their kid’s experiences with money. In this true story I have changed the name of the boy to Sam. Sam is six years old and about to go on a spending experience that sends him home with out spending a [...]
Teens, in our society, have what might seem to be the perfect relationship with money–plenty of money to spend with few recurring debts or financial responsibilities. Yet it is only a short journey from a teen’s world to that of an adult who is legally responsible for his spending. To expect someone who has been spending money freely to make an overnight transition to being a financially savvy adult is unrealistic.