There are few things more glorious in life than the arrival of a new baby. It can also be one of the most costly.
According to a recent study by the US Department of Agriculture, it costs more than $12,600 per year to raise a child from birth to the age of 18. That’s nearly a quarter of a million dollars — per child — and doesn’t include the cost of college, uneven teeth, or unscheduled visits to the emergency room.
Without some consideration to the financial impact of raising a child, your hopes and dreams for your financial Continue Reading »
Believe it or not we’re already entering back-to-school season. This retail bonanza seems to begin earlier every year, and you have to play the game if you want to catch the sales.
Or do you? The best strategy may be to wait it out — if you can — and save your shopping splurge after others have run themselves ragged. Here are some tips for the savvy shoppers who can afford to wait a few days before stocking up on the back-to-school items.
Hold off on the computer. The days before the kids head back to school isn’t the Continue Reading »
Organizing your personal finances can be daunting, and it’s easy to push it out of your to-do pile. But taking some simple steps can go a long way towards improving your financial situation.
Organize your space: If you know where your bills are, you can get to them when you need to pay them. When your mail is delivered, file it accordingly rather than let it pile up into unmanageable mountains. Bills that lay scattered from den to bedroom or are piled on the kitchen counter are far less likely to get paid on time, and late bills cost Continue Reading »
A recent survey from Discover Student Loans found that more than 80% of parents of 16- to 18-year-olds believe college is important to their child’s future. Yet three-quarters of those same parents worry about being able to help out financially, while an even more overwhelming majority believe their children will need to shoulder at least some of the burden.
Here are a few tips to help make solving the college financing puzzle a little easier:
Make the most of your savings. Tax-favored 529 plans, as well as the similar Coverdell Education Savings Account, help parents make the most of Continue Reading »
It seems unconscionable to most, but unscrupulous men and women often target senior citizens to rob them of their money or identities. When scammers know how to confuse and gain the trust of the elderly, they have virtual free reign of bank accounts, personal information, and even assets.
If you are concerned about the well-being of a senior in your life, or if you are a senior who wants to protect yourself, take some time to learn about common risks and scams. Some of the more mainstream scams involve prescription drugs, investments, charities, reverse mortgages, and “free” prizes. By Continue Reading »
Many subscribe to the notion that it’s bad business to lend money to friends or family. However, how do you handle the refusal of a loan in a way that makes a loved one feel like it is nothing personal? Here are several tips on how to refuse gently, while still helping your friend or family member:
Don’t feel pressured. People agree to these types of loan requests because they don’t feel they can say no and they feel backed into a corner with no way out. You don’t have to say yes, so don’t let the pressure get Continue Reading »