All Posts Tagged With: "financial decisions"
What can you teach your kids from the recession?
Jennifer McClelland | RSS | Fri, Nov 20 2009 | 0 Comments
The recession has been a huge part of the state of the economy for nearly two years now (according to when it officially began in December 2007). It has affected everyone in one way or another during that time. So, why not take something that was and continues to be awful and use it as a tool to teach your children about financial responsibility?
There are plenty of children that grow up with only a small idea of what the value of a dollar is. In the years leading up to the recession, many parents would indulge their children and even spoil them with some of the things they wanted without having to work to earn them.
When starting at an early age, children can be taught that when they do something good, they can earn things that they want; but how young should a parent start offering a child allowance? My sister and I did not start getting an allowance until we were 7 or 8. However, I believe that children can likely benefit from the system at a younger age.
Getting back to the issue of the “value of a dollar,” children need things such as clothes, school supplies, etc., but while those things are considered necessary, things such as expensive shoes and designer backpacks aren’t. As children get older, they can learn this lesson and, in some situations, may be able to earn the expensive shoes and backpacks by working for them.
Overindulging a child makes them a maladjusted adult in a lot of situations. A child that gets everything that he or she wants doesn’t help them as they get older. So, perhaps if a parent is a pushover now, the recession is helping him or her say no to their child as far as indulgences go. When one or both parents are out of work, things such as little trinkets which seemed harmless to get for the children before are now simply unaffordable.
Teaching kids about money when they’re young will definitely help them make better financial decisions as they get older.
Related posts:Mom and her 2 kids were kicked off a plane in Phoenix, AZ.
Well, at least Google is seeing an end to the “advertising” recession
Tags: expensive shoes, value of a dollar, recession
Money management is a key to financial success
Jennifer McClelland | RSS | Tue, Jun 16 2009 | 0 Comments
There are a few things that are important to making sure you make the most out of your financial future. Responsible spending along with money management is one of those steps. With the right amount of money management, you can save up enough to retire on and live comfortably through your golden years.
To get started with money management, it would be advisable to find a firm to help or even just online or computer based software that could ideally take your budget and help you save the most amount each month.
Budgeting is extremely important when it comes to money management. I believe that this could be the single most important part of any money management program or offering. Also, being able to implement the budgeting software into as many of your electronic devices as possible is quite helpful for money management on the go.
One firm that offers money management is United Kingdom based Kublax. The company lets you see all your finances with graphs and charts so it’s really clear and easy to understand. This way, even if you’re as inexperienced with money management as I am, you would still be able to see exactly where all your money is going and where it should be going. Kublax also pulls information from your local area to help you save money on deals and things. The budgeting system Kublax offers lets you set limits on your spending and will tell you when you’ve gone over what you have set as a budget. These way financial goals are obtainable within the time frame you have specified.
A good money management program will help you set budget limits on expenses and help you allocate your funds appropriately. Personalization is also a nice feature of online money management and computer software money management programs. When you can enter in information, like your local area, and the program is able to tell you how to save money where you live, it is so helpful in making good financial decisions. Another feature of a good money management program is the ability to set up due dates for bills and have the program alert you to when they are due. The program could send alerts to your email address or send text messages to your phone. I believe that it would be a very good program if it were offered as an application for BlackBerry, Palm, or the iPhone, again to offer programs on the go.
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Tags: software money, financial decisions, how to save money
