When teaching children financial responsibility, it is always advisable to lead by example. Children like to imitate what adults do, so before you teach them about fiscal responsibility, you need to ask yourself whether you are financially responsible. It will be challenging to teach your kids what you don’t practice, as this will make them question your teachings.
What is financial literacy? It can be defined as the ability to understand and apply financial skills. Many families across the country have a general idea of their financial standing but wish they knew more. Follow these tips to help improve your financial literacy and your financial standing to the best of your ability!
If you’re a single mom, you’re likely strict about your spending. But sometimes, you just have too many bills to pay and not enough in the bank. You have a few options — change your habits or increase your income.
If you’re a parent, you become familiar with your kids asking for money, and it’s completely understandable for you to get tired of dishing out cash at the drop of a hat. At some point, there comes a time when your kids need to learn a few very important lessons about the value of a dollar and hard work.
Frugal families: how to save money? Photo by Michael Longmire on Unsplash A large family entails a lot of joy but like everything in life, it does come with a high cost. Luckily, the price is expressed in dollar bills so there are many ways to be thrifty. Frugal families have learned to cut corners and can boast […]
Saving for your children’s education (or future financial needs). Photo by Sam Truong Dan on Unsplash The costs of higher education are high. According to the 2018 research by College Board, the bill for tuition and fees at public colleges is roughly $10,000, while the average at private colleges is about $35,000. Given these rising costs, it is […]
Try these seven steps for succesfully managing your personal finances. Getting on top of your economic situation can be as simple or as complicated as you want it to be. Some people are only concerned with keeping their budget balanced, whereas others are juggling multiple strings of debt on top of their regular expenses. But, […]
10 money management lessons you need to teach your kids. Photo by maitree rimthong from Pexels Teaching children how to manage money goes way beyond setting up an allowance for kids (and hoping they won’t blow it off in one go). While giving them regular allowances is an effective way to educate them about the fundamentals of budgeting […]
Do you know how to cut your travelling expenses? Here are five tips! Travelling is always fun, be it with your loved ones or alone. Paying for travelling though is not that fun and the cost is usually the main thing holding us back from roaming the world. However, there are several things you can do […]
How to save money on your family’s utility bills? Running a financially stable household is not an easy task in these uncertain times, especially when you have a couple of hungry kids to feed. Being a 21st-century supermom day in and day out is hard work, and when it comes to managing your family’s […]