When parents describe their kids’ money habits to me, they quickly label them as either a spender or saver. Granted, spending and saving are the either-or when it comes to money. But being all one or the other is not the best preparation for managing money as adults. If we applied the same labeling to [...]
The message during this, America Saves Week, is to spend less than one’s income and save the rest. Sounds simple, doesn’t it? The problem is that we’d rather spend money than save. How does spending and saving relate to our kids and their money?
Everyone says they should save more money, but fewer and fewer people do. The reality is that the national savings rate in the United States has been on the decline for decades, currently less than 1%. What does this mean?