Family

How much to save is a subject that gets much discussion and a variety of answers in the world of personal finance. The truth is, there’s no one-size-fits-all dollar amount because it all depends on your situation, goals, budget, and ultimately, income. That being said, let’s take a look at some general guidelines on how much you should be saving in different stages of your life. The 50/30/20 Rule A popular answer to “how much to save” is the 50/30/20 Rule, from a book...
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There is no doubt that we could all use a vacation after this year! But that doesn’t mean we’re ready to blow the entire bank account on a trip. You just need to know how you can get savvy about saving on your vacay. Check out these tips for planning a summer vacation on a budget!  Set a Budget Before You Plan  Just like we suggest not searching for houses or wedding dresses before you set a budget, you’ll save yourself some heartbreak if you set a budget...
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If you have a teenager who doesn’t quite understand how important good financial habits are, it’s time to teach them! Giving your child the building blocks on saving, budgeting and understanding debt will help make them into responsible adults. Here’s some financial literacy 101 for your teenager.  Bank Accounts  Explaining the different types of bank accounts to your child is crucial. Start by opening a savings account with them so they can understand...
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With each new addition to the family, expenses rise and finances can become more difficult to handle. That’s no reason not to enjoy having a big family, though! With these simple and effective money-saving tips, you can maintain peace of mind knowing you’re handling your money in the best way possible.  Check the Discount Stores  Going to a thrift store or discount store is especially helpful when shopping for kids’ clothing. Since the day...
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Teaching your kids about saving money can be quite the undertaking. Luckily, there are games and fun ways to help your children engage with this learning process. Check out these 5 games that will help your kids learn more about saving.  1. Monopoly  Not only is Monopoly a fun family game, but it’s also a great game to teach kids about money. The game can get lengthy, but it teaches some valuable lessons. Not only do you learn how to save your money, but you also learn...
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If you or someone you know has a pet, you understand there are lots of factors that go into purchasing one. How do you know if getting a furry friend is the right decision for you? Keep reading to learn about the one-time pet costs you might not have thought about.  Initial Adoption Cost  The most obvious payment you’ll make when purchasing a pet is the cost of actually adopting one. What you’ll spend for adoption completely depends on the breed,...
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Are your kids ready to start earning money for themselves? As a parent, it can be worrisome trying to find a good first-time work environment for your son or daughter. Good news! There are many great ways for your kids to make some extra cash - even your youngest kids! 1. Babysitting Once your kid is old enough, he or she might be interested in taking care of younger kids. Sometimes the best way for someone to “practice” babysitting is by having them watch their siblings or relatives...
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Parenting isn’t easy, and we are here to help you in whatever ways we can. Keep reading to learn about these 5 simple and important things to teach your kids about money! 1. The Importance of Saving The easiest way to encourage your kids to save money is by getting them a piggy bank. Some kids are fascinated by the piggy banks that automatically count your change, and other kids would enjoy a lovely glass pig to keep their money in. Go to the store and let them pick out a piggy bank they...
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The holidays set back many Americans into debt every year. Last year, the average incurred per person was around $1,000. It’s never too early to start deciding what your holiday budget will be so that you aren’t fretting over overwhelming debt in the new year. If you haven’t set up a budget before, the holidays are a perfect place to start.  1. Start with what you have.  Every budget should begin by calculating what you have. This means having an exact tally on what...
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School is back! While you’re working on gathering those final school supplies, be sure you aren’t overspending on some of the essentials. We’re here to give a little advice on ways you can save on supplies, while making sure you still get everything needed that’s left on your list. Re-use Start by shopping at home. You have drawers full of unused highlighters and almost-new pencils. Yes, your child may whine that they NEED the new 144 pack of crayons, but they will be...
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