According to Capital One’s Annual Back-to-School Shopping Survey, “Half (53 percent) of teens polled say they want to learn more about how to manage their money. More teens say they would prefer to learn about money from their parents over friends, reading a book or taking a personal finance class….” This year’s Capital One survey [...]
Archive for August, 2010
Talking about Money
Posted in Kids and Money, tagged checkbook, credit cards, financial discussion, Investments, National Money Night Talk, responsibility, savings account on August 31, 2010 | Leave a Comment »
Financial Health is a Lot Like Medical Health, Everyone Needs It
Posted in Financial Planning, tagged 401(k), Certified Financial Planner, CFP, financial advice, financial health, financial practitioner, IRA, WebMd on August 30, 2010 | Leave a Comment »
Do you have a doctor, maybe a General Practitioner, who is responsible for your health if you get sick? I’ll assume you do. Does he (or she) take care of all your health issues? How about your nutrition, your exercise and your weight? No. Unless your doc is a family member, he collects physical and [...]
Bucket List
Posted in Financial Planning, tagged Bucket List, Estate Planning, investment planning, retirement planning, risk management, tax planning on August 27, 2010 | 1 Comment »
Most of us are familiar with the term made famous in the 2007 movie with Morgan Freeman and Jack Nicholson, Bucket List, which ‘played out’ the lives of two terminally ill patients and their list of to‐dos before they died. The sad part of the film was the reality of life’s finite certainty while the [...]
A Letter to My College Bound Son
Posted in Education, tagged college, college bound, college student, manage your money, money behaviors on August 26, 2010 | 18 Comments »
Dear Colin, In a few days, you’ll pack the car and leave home to begin your college career. I can’t deny the big lump in my throat as I say this and imagine your empty seat at the family dinner table and your eerily quiet and tidy bedroom. I will miss you, terribly… how your [...]
Making Good Decisions
Posted in Values, tagged advisor, bankruptcy, behavioral economics, Daniel Kahneman, Divorce, Four Fat Financial Fears, Mind Over Money, outliving income on August 25, 2010 | 2 Comments »
Part Four of my Four Fat Financial Fears! We are in the fourth and final fear after tackling topics of volatility, outliving our income, and getting organized. It’s time for our last installment; making good decisions in our finances. I’m sure you’ve heard the analogies like “paralysis by analysis” or “decision by denial.” Yet I [...]
Never Let a Good Crisis Go to Waste
Posted in Kids and Money, tagged Banking, budgeting, credit, investing, National Money Talk Night, personal finance on August 25, 2010 | Leave a Comment »
Over the last several years, we’ve heard this slogan numerous times, most famously by White House Chief of Staff Rahm Emanuel. While the slogan has its positive and negative attributes, there’s one area where we all need to take heed. If there are any silver linings to the economic downturn, it’s the spotlight that has [...]
Kids and Money
Posted in Kids and Money, tagged budget, National Money Talk Night, saving on August 25, 2010 | 1 Comment »
Every summer, my nephews spend a week with me – we call it Camp Aunt G – and I’m always shocked at their blatant disregard for money. They lose games and toys with no care. “Aunt G, we can just buy another one, duh!” They leave half empty cokes all over the house and just [...]
Financial Issues for Your Children
Posted in Kids and Money, tagged fiduciary responsibility, income tax, investment income, Kiddie Tax, Lifetime Learning Credit, tax return on August 24, 2010 | Leave a Comment »
We all spend time dealing with our personal financial and tax issues and these can be overwhelming at times that we sometimes forget about these same issues for our children. We start a savings account (an UGMA perhaps where we are the custodian for our child) when they are born and we put all their [...]
Caution: Simple Reminders Can Improve Finances
Posted in Spending, tagged Bob Dorigo Jones, credit cards, financial warning labels, inflation, personal finance, Remove Child Before Folding on August 23, 2010 | Leave a Comment »
My post this week is inspired by the book Remove Child Before Folding: The 101 Stupidest, Silliest, and Wackiest Warning Labels Ever by Bob Dorigo Jones. In his book Mr. Jones makes light of the use of labels in our society. Labels, the book proclaims, are often overused, unhelpful, and outright bizarre. The title refers [...]
Austerity
Posted in Spending, tagged austerity, debt, frugality, volatility on August 20, 2010 | 2 Comments »
Austerity has become quite the buzzword recently. What does it mean and how does it affect you? According to Wikipedia, austerity is when a government reduces its spending and/or increases taxes to pay back creditors because its fiscal deficit spending is believed to be unsustainable. Debt is “out” and frugality is “in” post financial crisis. [...]