money lessons http://www.wisebread.com/taxonomy/term/12371/all en-US Best Money Tips: Money Lessons We Can Learn From Beyoncé http://www.wisebread.com/best-money-tips-money-lessons-we-can-learn-from-beyonc <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-money-lessons-we-can-learn-from-beyonc" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/beyonce_15741839050_d7e0206673_z.jpg" alt="Learning money lessons from Beyoncé" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found articles on money lessons we can learn from Beyoncé, tips for solo travel, and how to get the most out of your doctor appointments.</p> <h2>Top 5 Articles</h2> <p><a href="https://moneystrands.com/blog/2017/02/15/money-rules-can-learn-beyonce/">Make lemonade: 5 Money Rules You Can Learn From Beyoncé</a> &mdash; Beyoncé &mdash; as a singer, actor, dancer, investor, and entrepreneur &mdash; uses her many skills and experience to create multiple income streams. [Money Strands]</p> <p><a href="http://www.popsugar.com/smart-living/Tips-Traveling-Alone-42031218">14 Tips For Traveling Alone</a> &mdash; Take a walking tour of the city you're visiting so you have a better idea of your surroundings. This will make it easier to get around during the rest of your stay. [PopSugar Smart Living]</p> <p><a href="http://www.clark.com/doctors-appointments-how-to-get-the-most-bang">Doctor's appointments: How to get the most bang for your buck</a> &mdash; Not all medical needs require you to see a doctor with copay in hand. Call your doctor's office to clarify their policies on things like immunizations and quick procedures. [Clark]</p> <p><a href="http://moneyaware.co.uk/2017/02/cheap-and-easy-ways-to-organise-your-home/">Cheap and easy ways to organize your home</a> &mdash; Keep books, photographs, and other knickknacks from cluttering up your living room by displaying them on shelves. [StepChange MoneyAware]</p> <p><a href="https://www.dailyworth.com/posts/4422-how-unlearning-makes-you-smarter">How Unlearning Makes You Smarter</a> &mdash; Unlearning can help you get rid of not-so-useful knowledge and assumptions that are no longer valid. [Daily Worth]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.savethebills.com/6-easy-ways-increase-investment-property-value/">6 Easy Ways To Increase Your Investment Property Value</a> &mdash; If you're remodeling an investment property with only one bathroom, adding another half bath can increase the property's value by up to $10,000. [Save The Bills]</p> <p><a href="http://brokemillennial.com/2017/02/16/5-things-millennials-need-understand-money-2017/">5 Things Millennials Need To Understand About Money In 2017</a> &mdash; Small purchases add up, sure, but the real danger is in act of routine, mindless spending. [Broke Millennial]</p> <p><a href="http://moneyminiblog.com/productivity/commute-tasks/">Don&rsquo;t Waste Valuable Time: 8 Tasks You Can Do on Your Commute</a> &mdash; Whip your mind into shape with brain-stimulating games. [Money Mini Blog]</p> <p><a href="http://www.cultofmoney.com/2017/02/15/lost-motivation-savings-goals-heres/">Lost Motivation for Your Savings Goals? Here&rsquo;s What to Do&hellip;</a> &mdash; If you feel burned out by your savings goal, go ahead and take a small break. Just make sure the break won't undo the progress you've made so far. [Cult of Money]</p> <p><a href="http://moneypantry.com/ways-internet-saves-you-money/">21 Easy to Miss Ways the Internet Can Save You Money (Are You Using &rsquo;em?)</a> &mdash; There are many sites that help you find rebates and show you where to fill out the forms online so you can save money on your purchases. [Money Pantry]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amy-lu">Amy Lu</a> of <a href="http://www.wisebread.com/best-money-tips-money-lessons-we-can-learn-from-beyonc">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-38-money-lessons-we-can-learn-from-celebrities">Flashback Friday: 38 Money Lessons We Can Learn From Celebrities</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-money-lessons-we-can-learn-from-beyonc">7 Money Lessons We Can Learn From Beyoncé</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-top-money-lessons-to-learn-from-ruth-soukups-unstuffed">4 Top Money Lessons to Learn From Ruth Soukup&#039;s &quot;Unstuffed&quot;</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-can-learn-from-gilmore-girls">6 Money Lessons We Can Learn From &quot;Gilmore Girls&quot;</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips Beyoncé money lessons Fri, 17 Feb 2017 10:00:28 +0000 Amy Lu 1894195 at http://www.wisebread.com 8 Frugal Living Skills I Wish My Parents Would Have Taught Me http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/kid_holding_money-486555012.jpg" alt="Kid learning frugal living skills parents didn&#039;t teach her" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>We had it great when we were kids. Zero responsibility, zero bills, zero debt &mdash; and then we grew up. Our parents tried to teach us everything they knew, but nobody's perfect, and some things we had to learn the hard way. Like how credit cards will ruin your financial life for years if you start whipping them out at 18 years old like you actually have money to pay the bill. My mistake! Take a look at these other frugal living skills I wish my parents had taught me and see if you can relate.</p> <h2>1. How to Live the &quot;Vacation&quot; Life</h2> <p>I know what this sounds like, but it's not what you think. Living the vacation life isn't about lying around on the beach every day (at least not in this sense), but rather living like you're on vacation by getting by with only the essentials.</p> <p>Rebecca Gitana, author of the minimalist blog Lifestyle Remix, explains.</p> <p>&quot;When we travel, we only pack the things we love,&quot; she says. &quot;The result is the feeling of lightness and endless possibility. Take that same concept into how you 'pack your home' &mdash; only keeping things suitable for your next great adventure.&quot;</p> <p>While I'm fairly good at purging my belongings when I no longer have use for them, I do still retain some of my hoarding roots (especially when it comes to clothing), a trait likely inherited from my parents who really enjoy their &quot;stuff.&quot; It's a habit that can be broken, however, if you can see the value all around &mdash; literally and figuratively.</p> <h2>2. It's Okay to Buy Generic</h2> <p>We never, ever bought anything generic in my house growing up, and I shop similarly today. I justify my brand-name-only purchases with the philosophy that these brands are popular and famous because their products are superior. In some cases that's true, but not always. Which is why I use my judgment when deciding what to buy generic and what to splurge on. I buy store-brand pantry staples, for instance, like flour, sugar, and spices, as well as meat and other proteins. As much as I can, I try to use coupons on brand names to hopefully bring the cost down to where the generic brand would be. Makes me feel better, at least.</p> <h2>3. Why Multi-Purpose Purchases Are Important</h2> <p>We had plenty of space in my home growing up, with an attic and a basement, so there wasn't a real need for furniture and other items that pulled double duty. I had to learn how to make the most of very small amounts of space when I moved out on my own, especially when I moved to New York City. After living in urban areas for nearly a decade, I've conditioned myself to shop for those two- or three-pronged products, like pullout sofas, storage benches, and appliances that can perform several functions.</p> <h2>4. There's No Shame in Using Coupons</h2> <p>Until very recently, my parents didn't use coupons when shopping for groceries, and I tried to get away with coupon-free shopping when I first struck out on my own. Admittedly, I didn't get very far. Like my parents, lots of folks don't use coupons for many reasons &mdash; they don't feel like hunting them down and clipping them, for instance, or they think that somehow using them makes you look like a cheapskate. Nonsense. Take it from me &mdash; the coupon king &mdash; that saving your hard-earned money on necessities like food so you have enough to pay for necessities like shelter and heat isn't being a cheapskate; it's being smart. So to hell with what other people think about how you spend your money.</p> <h2>5. How to Determine What You Need Versus What You Want</h2> <p>Yes, I'm a personal finance expert, but I'm also an avid consumer and major supporter of capitalism, which means that I can sometimes succumb to impulse buys because I think I have to have something. But when I started spending my own money on all the things I thought I'd just die without (that my parents previously bought for me), I had to step back and re-evaluate the situation. As such, I've gotten pretty good over the past 17 years that I've been financially independent, like choosing gas for my vehicle over a new pair of Nikes.</p> <h2>6. To Proceed With Extreme Caution With Credit Cards</h2> <p>Like many families, mine didn't talk about finances. My parents went to work, made the money, and we magically had everything we needed. I honestly have no idea how many credit cards they had, how much debt they were in, if they had any money in their savings accounts &mdash; so on and so forth. And I'm probably correct in assuming that you grew up similarly. Which is in part why as I became an adult, I had no idea how to manage my own money &mdash; especially when it came to credit cards. Long story short, I maxed mine out within six months of receiving them, and it took me <em>yeeeeears </em>to pay them off. Now I use credit the proper way &mdash; as an extension of the money I already have, not a put-it-off-until-you-have-it loan from the Money Gods. (See also: <a href="http://www.wisebread.com/12-habits-of-highly-responsible-credit-card-users?ref=seealso">5 Habits of Responsible Credit Card Users</a>)</p> <h2>7. How Vocational Skills Will Save You a Ton of Money</h2> <p>In all fairness, my dad tried to teach me how to fix various issues on my car as a teenager, but I just wasn't interested. As a result, now I have to pay the friendly mechanics at my neighborhood auto shop more often than I'd like. But it's not just auto skills I wish I had learned. I could've benefitted from a wealth of vocational skills, from home improvement projects to yard maintenance to electronics repair, that would have saved me a ton of money thus far and perhaps made me some if I were enterprising enough to monetize my skills.</p> <h2>8. How to Comparison Shop</h2> <p>I'll give my parents a break on this one, because when I was a kid, it wasn't an easy task to comparison shop. In fact, I think we've all learned how to do this together over the past decade or so since the Internet has made it easier. Either way, I'm a pro at it now. My new goal is to teach myself how to do it more efficiently instead of spending hours investigating the best price. How about you?</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-use-google-alerts-to-save-money">6 Ways to Use Google Alerts to Save Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-personal-finance-skills-everyone-should-master">12 Personal Finance Skills Everyone Should Master</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/should-your-kids-contribute-to-family-money-goals">Should Your Kids Contribute to Family Money Goals?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-frugal-living-skills-you-should-be-teaching-your-children">7 Frugal Living Skills You Should Be Teaching Your Children</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-sibling-discounts-that-can-save-you-big">6 Sibling Discounts That Can Save You Big</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Family advice coupons financial literacy independence kids money lessons parents saving money shopping skills spending Fri, 09 Dec 2016 11:30:08 +0000 Mikey Rox 1849986 at http://www.wisebread.com 7 Things a Thanksgiving Turkey Teaches Us About Money http://www.wisebread.com/7-things-a-thanksgiving-turkey-teaches-us-about-money-0 <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-things-a-thanksgiving-turkey-teaches-us-about-money-0" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-493115518.jpg" alt="we can learn a lot about money from the thanksgiving turkey" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It's that time of year again, and many of us will indulge in the traditional Thanksgiving turkey feast with all the trimmings. As you're prepping the bird, and basting it, you may not consider that the humble Thanksgiving turkey has a few lessons to teach us about money. But, there are a number of ways this tasty bird can give us insights into the economy, and our own financial situations.</p> <h2>1. Your Chances of Winning the Lottery Are Very Slim</h2> <p>According to the National Turkey Federation, <a href="http://www.eatturkey.com/why-turkey/history">233.1 million turkeys were raised</a> in the USA in 2015. Roughly 46 million of those are eaten at Thanksgiving, with another 22 million at Christmas. And as you may be aware, once a year (since 1947) the President pardons one of these turkeys destined for the dinner table. The simple math there is that, as a turkey, you have a roughly one in 233 million chance to win the turkey lottery, and live a long, happy life. The lottery humans often partake in has similar odds. Actually, they're a little worse. If you play the <a href="http://www.lotteryusa.com/powerball/">Powerball</a>, the odds of winning the jackpot are approximately one in 292 million. Longer odds than the average turkey has of being spared. Remember that the next time you buy your ticket&hellip; your chances of winning are worse than being chosen as the turkey to be pardoned by the President.</p> <h2>2. You Can Lose Everything in an Instant</h2> <p>The Thanksgiving turkey is fed and housed from day one. Perhaps not in ideal conditions, but from the day it is born, it's given everything it needs to grow and become the plump turkey that most of us look forward to on Thanksgiving. Of course, for the turkey, it's not a happy ending. After months of daily feedings, just when it is at its biggest, the blade drops and it's all over.</p> <p>This is much like the stock market, the housing crash, our careers, and many other aspects of our lives. All too often, our assets are steadily rising, and when we are at our most confident, the rug is pulled out from under us. Stocks crash. House prices plummet. Jobs are eliminated, and people are left with a bleak future when it was looking very rosy just the day before. And in the blink of an eye, our fortunes have reversed, and we're in serious trouble. Like the Thanksgiving turkey, we can very easily spend most of the year blissfully unaware that doom is just around the corner.</p> <h2>3. Keep a Close Eye on Things</h2> <p>You know the story. You put the juicy bird in the oven, forget about it for a few hours, and then realize it's been way too long. You go back to the oven, and pull out a turkey with all the tenderness of a piece of stale beef jerky. The same rule applies to money. Watch it&hellip;carefully. Or pay a professional to do it for you. Check in on your bank accounts daily. You want to look not only at the balances, and any bills coming out, but also for any unusual debits. Quite often, compromised bank accounts will be tested with very small charges; usually under one dollar. If they go unnoticed, a large amount will be taken at a later date. You also need to keep an eye on your stocks and bonds, your savings, and your other assets and liabilities.</p> <h2>4. Preparation Is a Must</h2> <p>A few days before Thanksgiving, if you're smart, you'll brine your turkey. It's a simple enough procedure, and involves soaking the turkey for at least 24 hours in a solution of broth, salt, herbs, spices, and ice water. This preparation ensures a moist, tasty turkey after all those hours in the oven or the fryer.</p> <p>Just like the turkey, you need to prepare for the future. In the short term, look at your emergency fund. Is it enough? Do you even have one? Can you cut a few expenses out of your budget now to start building up that safety net? The more distant future, that requires preparation as well. What are you doing to plan for retirement? Do you have a 401K or IRA? Are you setting aside enough money now to grow? Preparing your finances for both short and long-term goals is something we all have to do.</p> <h2>5. When Supply Outpaces Demand, Prices Drop</h2> <p>You may think that the prices of turkeys go up in November, as this is the time most families want to buy one. Well, that couldn't be further from the truth. As the <em>NYTimes</em> illustrates, <a href="http://economix.blogs.nytimes.com/2013/11/20/turkey-economics-annotated/?_r=0">prices for turkeys nosedive in November</a> by a staggering amount. In fact, a Thanksgiving turkey is about 20% cheaper than a turkey sold in January. Why is that? The simple answer is that <a href="http://www.marottaonmoney.com/the-economics-of-a-thanksgiving-turkey/">supply during November is plentiful</a>. Turkeys can be frozen and kept in storage for up to two years. This stockpile of turkeys flood the market in November, and when you have a glut of anything, the prices drop. Not only that, but customers expect to pay less for turkey during Thanksgiving, and many stores sell turkeys at a loss (known as a loss leader) to bring you into the store and shop for other goods that have a decent profit margin.</p> <h2>6. You Can't Grow Your Future on a Weak Foundation</h2> <p>Modern turkeys have been bred and modified to create the &quot;perfect&quot; Thanksgiving turkey. But sadly, what is good for us as consumers is not good for the turkeys. They grow way too quickly, and as they have been bred to have large breasts, their flimsy legs often get crippled under the weight. This rather depressing fact is just as gloomy for your finances. You need a solid foundation, with slow, steady growth to succeed. You cannot create a healthy financial future if you are being crippled by debt, or are looking into &quot;get rich quick&quot; schemes that never, ever work the way they say they will.</p> <h2>7. Know Your Limits</h2> <p>How many of us bite off way more than we can chew at Thanksgiving? We load up the plate with turkey and gravy, wash it down with a glass or two of wine or cider, and spend two hours in a food coma on the sofa. Overindulgence and the Thanksgiving turkey go hand in hand. And while recovering from that is simply a case of sleeping it off, when we overindulge with our money, the consequences are much greater. By refusing to acknowledge our limits, we can quickly and easily end up with serious debts. Gambling and other addictions can lead us into ruin. And the simple case of &quot;my eyes being bigger than my belly&quot; can lead to food shopping sprees that result in fridges and pantries full of food that will expire before we get the chance to use them. Like the Thanksgiving feast, we should all take caution with what we put onto our plates.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/7-things-a-thanksgiving-turkey-teaches-us-about-money-0">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-things-youll-waste-money-on-this-thanksgiving">10 Things You&#039;ll Waste Money on This Thanksgiving</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/throwback-thursday-58-best-thanksgiving-hacks-ever">Throwback Thursday: 58 Best Thanksgiving Hacks Ever</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-creative-simple-frugal-recipes-for-leftover-turkey">5 Creative, Simple, and Frugal Recipes for Leftover Turkey</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-38-money-lessons-we-can-learn-from-celebrities">Flashback Friday: 38 Money Lessons We Can Learn From Celebrities</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-delicious-dishes-made-better-with-salsa">15 Delicious Dishes Made Better With Salsa</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Food and Drink budgeting Holidays money lessons Thanksgiving thanksgiving feast thanksgiving turkey turkey day Thu, 24 Nov 2016 11:00:06 +0000 Paul Michael 1839208 at http://www.wisebread.com 7 Frugal Living Skills You Should Be Teaching Your Children http://www.wisebread.com/7-frugal-living-skills-you-should-be-teaching-your-children <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-frugal-living-skills-you-should-be-teaching-your-children" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/kid_education_money_45175586.jpg" alt="Kid learning frugal living skills from parents" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>We all want to pass our frugal living skills on to our kids, but what lessons are most important? How specific should we get? How soon should we start? Don't sweat the details. Sometimes the most important frugal living skills aren't financial skills at all &mdash; they're life skills that serve us well in dozens of ways. Here are seven frugal living skills you should be teaching your children, no matter how young or old they are.</p> <h2>1. Patience</h2> <p>The ability to delay gratification is the foundation of frugality. It gives us space to mentally separate our needs from our wants, time to find the best deals, and &mdash; most importantly &mdash; a chance to let momentary impulses pass us by.</p> <p>As with most lessons, patience is easier to embrace when taught early. For items your kids want, build in wait times that are dependent on their own effort (grades, chores around the house, or progress toward their own personal goals). If their wants change during that time, which is inevitable with children, complete the lesson by pointing out how the slight delay translates into dollars saved. (See also: <a href="http://www.wisebread.com/8-ways-being-patient-saves-you-money?ref=seealso">8 Ways Being Patient Saves You Money</a>)</p> <h2>2. Self-Confidence</h2> <p>Here's the dirty little secret that keeps our consumer culture thriving: Advertisers and marketers hate personal confidence and they do everything in their power to knock our self-image off kilter. Every day, we face a barrage of neuroses-inspiring messages that tell us we have the wrong car, wrong clothes, dull hair, bad breath, and hopelessly yellow teeth.</p> <p>Instilling a strong sense of self-confidence can help kids avoid falling victim to these messages for the rest of their lives &mdash; and sacrificing a large part of their personal wealth in the process. Seize every opportunity to reinforce the idea that your kids are fine just the way are and model that truth yourself. Then, when age-appropriate, pull back the advertising curtain. Point out how commercial messages are artfully crafted to make us all spend more than we should by making us all feel less than we are. (See also: <a href="http://www.wisebread.com/3-ways-confidence-makes-you-better-with-money?ref=seealso">3 Ways Confidence Makes You Better With Money</a>)</p> <h2>3. Collaboration</h2> <p>In our hyper-consumer culture, collaborating and sharing are revolutionary acts because they slightly erode the need for more. Why buy your own lawn mower if you can borrow one from a close neighbor? Likewise, why should your neighbor buy a snowblower if he can use yours a few times a year?</p> <p>Encourage sharing at an early age by helping your kids develop strong communication skills, showing them how to make and honor agreements, and teaching them how to be good stewards of what they (and others) own.</p> <h2>4. Creativity</h2> <p>Making do with less takes creativity and ingenuity. It's how the moms and dads of yesteryear stretched meals, made new clothes from old, bartered for goods, and kept life going on what was often a shoestring budget. Foster your children's imagination with free-form toys, unstructured play, and arts and crafts &mdash; anything that gets them moving, thinking, and exploring new ideas.</p> <h2>5. Negotiation</h2> <p>Knowing how to negotiate on price, payment terms, and extras can save a person thousands of dollars over a lifetime. Teach <a href="http://www.wisebread.com/8-negotiating-skills-everyone-should-master">essential negotiation skills</a> by example; take your kids with you to flea markets, yard sales, and the used car lot &mdash; any venue where a bit of friendly haggling is expected. Show them how to use to research to their advantage, develop a rapport with sellers, and be fair but fearless in what they ask for.</p> <h2>6. Contentment</h2> <p>Much like low self-confidence, discontentment moves product. Keeping consumers in a constant state of desire is how retailers sell us more than what we need. To complicate matters, teaching children to be content is tricky business in America because we're all afraid of sapping their motivation. While encouraging kids to strive for more is important, make it less about things and money. Instead, help them focus on achieving their personal goals, expanding their experiences, appreciating the moment, and building rich friendships.</p> <h2>7. Individuality</h2> <p>In a world where consumerism and consumer debt is a way of life, choosing a different path takes a steely sense of self. Promoting a spirit of individuality in children helps them cope with &mdash; and even celebrate &mdash; being different. Point out how your family's own spending and saving habits go against the grain and don't be afraid to show the benefits (monetarily and otherwise) of your simpler, saner lifestyle. It will serve them well for the rest of their lives.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kentin-waits">Kentin Waits</a> of <a href="http://www.wisebread.com/7-frugal-living-skills-you-should-be-teaching-your-children">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-8"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">8 Frugal Living Skills I Wish My Parents Would Have Taught Me</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-fun-books-that-will-get-your-kids-excited-about-money">10 Fun Books That Will Get Your Kids Excited About Money</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-you-can-learn-from-your-pets">6 Money Lessons You Can Learn From Your Pets</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/having-a-baby-nine-financial-considerations-for-new-parents">Having a baby? Nine financial considerations for new parents</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/should-your-kids-contribute-to-family-money-goals">Should Your Kids Contribute to Family Money Goals?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Family children family frugal living lessons life lessons money lessons parenting parenting tips skills Tue, 15 Nov 2016 09:00:08 +0000 Kentin Waits 1833153 at http://www.wisebread.com 6 Money Lessons We Can Learn From "Gilmore Girls" http://www.wisebread.com/6-money-lessons-we-can-learn-from-gilmore-girls <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-money-lessons-we-can-learn-from-gilmore-girls" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/women_friends_tv_69491221.jpg" alt="Learning money lessons from Gilmore Girls" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>In case you have had your head in the sand, been stranded on a desert island, or just been sitting on your couch with your fingers in your ears chanting, &quot;La, la, la,&quot; let me be the one to tell you: The Gilmore Girls are coming back!</p> <p>We've learned a lot from them over the years. Feisty Lorelai and sweet Rory have taught us about love, family, friendship, food, and more. And, on November 25th, I hope to continue my education.</p> <p>Not only do I hope to hear more witty banter and find out (finally???) whether Team Jess really and truly won Rory's heart, but I bet I'll also learn a bit about money. Here's what I've learned so far.</p> <h2>1. Money Isn't Everything</h2> <p>Look at Richard and Emily, or Paris Gellar, or even Logan. They all have quite a bit of money, but it hasn't brought them much in the way of happiness. Instead, it has brought them stress, a constant need to keep up with the other wealthy folks around them, a whole lot of pressure, and anxiety. In fact, if they are what it means to be wealthy, I don't want any part of it!</p> <p>On the flip side, Lorelei and Rory don't have that much money. Sure, by the time the show starts, they clearly are better off than they used to be, but they still aren't wealthy. Yet they are happy, have a solid relationship, and know what they want out of life. When it comes to happiness, being financially stable is important, but being wealthy is not.</p> <h2>2. Sometimes the Little Splurges Are Worth It</h2> <p>We've all heard about how much we could save if we didn't get that coffee every morning, didn't eat out so much, didn't buy so many drinks, etc. But, sometimes, those little splurges are worth it. Think about the number of times the girls bonded over coffee and a meal at Luke's, or even the relationship that developed between Luke and Lorelai.</p> <p>While there are other ways to facilitate relationships, getting a coffee together is socially acceptable and nonthreatening in our culture. So you may not want to drink as much coffee as the Gilmore Girls, but a cuppa here and there, especially when it comes with good conversation, can easily be worth the cost.</p> <h2>3. It's Okay to Ask for Help</h2> <p>Lorelai asks her parents for financial help several times (starting in the very first episode) and it's hard for her every time. She has worked hard to get to where she is, and she doesn't want to lose her financial independence and put herself in a place where she owes someone. Yet, in order to make it possible for Rory to attend Chilton, she humbles herself and asks Richard and Emily for help.</p> <p>And it turns out to be a good thing.</p> <p>While asking for financial help can be at least as tricky in the real world as it is for Lorelai and Rory, sometimes that is what you need to do. If there is something you need and can't afford, or something that would be really, really good for you or a family member, and asking for aid in a mature, intentional way could be one of the best things you ever do.</p> <h2>4. Dream and Plan for Financial Success</h2> <p>Owning their own inn is a dream for Lorelai and Sookie, and it's not one that could ever come true without intentional planning. First, they dream, then they save, then they look for the perfect place, find the right realtor, and so on. By combining their dream with a plan, they eventually achieve their goals.</p> <p>Most dreams cost money, which means that achieving them requires some sort of plan. Without this, the dream will never become feasible and will only ever be a dream. Planning and putting your money behind a dream means that your money is working for you, and gives you motivation to be frugal and make wise choices.</p> <h2>5. You Can Have Fun Without Spending a Lot</h2> <p>Sure, Rory and Lorelai spend quite a bit on coffee and takeout, but they aren't extravagant when it comes to entertainment. Other than a concert here or there, they spend most of their evenings at home, eating a ton of food and watching all sorts of movies. Through this ritual, they've gotten to know each other and have built a strong mother-daughter bond.</p> <h2>6. That Side Hustle Can Add Up</h2> <p>Lorelai works full time and goes to school, but she also takes jobs on the side. She and Sookie cater parties so posh that even Emily wants them to throw one of hers. Without this extra income, I'm pretty sure Lorelai would never have been able to buy the Dragonfly, even on a very generous manager's salary.</p> <p>If you're good at something, start developing your side hustle today. It can be small at first, but who knows what it will grow into. Maybe it will generate some income so you can follow your dreams, too.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="http://www.wisebread.com/6-money-lessons-we-can-learn-from-gilmore-girls">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-brilliant-tips-from-smart-mom-rich-mom">4 Brilliant Tips From &quot;Smart Mom, Rich Mom&quot;</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-of-the-coolest-sayings-about-saving">10 of the Coolest Sayings About Saving</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">8 Frugal Living Skills I Wish My Parents Would Have Taught Me</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-money-lessons-we-can-learn-from-jk-rowling">4 Money Lessons We Can Learn From J.K. Rowling</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entertainment advice dreams gilmore girls money lessons saving money side jobs success TV shows Wed, 09 Nov 2016 09:00:06 +0000 Sarah Winfrey 1829534 at http://www.wisebread.com 3 Good Money Examples Every Parent Should Set http://www.wisebread.com/3-good-money-examples-every-parent-should-set <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/3-good-money-examples-every-parent-should-set" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_19397725_MEDIUM.jpg" alt="every parent should set these money examples for their kids" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Here's a scary statistic for you: <a href="https://corporate.troweprice.com/Money-Confident-Kids/images/emk/2016pkmresultsdeckfinal-160322181149.pdf">71% of parents are reluctant</a> to discuss financial matters with their kids. I think the reason so many parents hold back from talking about money with their children is because they feel like they have nothing to offer. Or that kids don't need to learn about money until they're old enough to get a job. But there's a great deal they can learn from you during their younger years.</p> <p>No matter what your financial situation is, how much debt you have, or what you make per year, you can master better financial habits that your kids can learn from. Lead by example with these three important practices.</p> <h2>Maintain a Giving Heart</h2> <p>When your kids are driving you nuts, and you just want to get from your car into the store or restaurant as fast as possible, someone begging for money can seem like an inconvenience. It can be tempting to blow off the person with thoughts like, <em>Get a job</em>, or <em>I don't even have enough money for my own family.</em> Instead, offer to buy the person a meal at the restaurant or a grocery item at the store you are about to enter.</p> <p>This shows your children how to be giving and thoughtful of others. If the person does accept your offer, you can turn it into a simple teaching moment with your children. Say something like, &quot;You know how we always have food to eat or how you have a bed to sleep in? Some people don't have anything.&quot;</p> <p>Many times, the person in need will just want money. This is another great teachable moment. Encourage your children to help meet basic needs, but to not just foolishly throw their money at people. This goes for both homeless people and friends/family members who try to take advantage of others.</p> <h2>Avoid Impulse Buys</h2> <p>We see it in places like Target all the time: A child begs for every toy or sparkly thing. While the mother says, &quot;no&quot; firmly, she also has no reserve as she tosses a cute blouse and table décor into her cart.</p> <p>I'm guilty of this, too. I'm pretty good at keeping my children in check with impulse buys at the store, but I didn't immediately realize that I needed the same lesson. Now when we shop, and my four-year old asks if we can buy something, I try to make that a teachable moment for both of us. I say, &quot;Honey, I know you want a lot of things here, and so do I, but it is so important for us to buy only what we need today.&quot;</p> <p>Does this mean you can never buy anything fun? Of course not. But plan and budget for the fun items, including your children in the process. Maybe saying something like, &quot;Today we are going to pick out some holiday decorations. Our budget is $20 today. Can you help me pick out something?&quot;</p> <p>See also:&nbsp;<a href="http://www.wisebread.com/5-easy-things-science-says-you-should-do-for-your-family?ref=seealso">5 Easy Things Science Says You Should Do for Your Family</a></p> <h2>Set Financial Goals</h2> <p>Goals are extremely important in life. I'm not talking about vague and lofty goals such as, getting out of debt or saving $20,000 by January 1. You need to set concrete goals that have actionable steps, and keep progress of your goals until completion. Don't be afraid to tell older kids what your financial goals are for the year, and give them progress reports. It is important for children to learn that they can accomplish a huge variety of tasks &mdash; saving money, getting healthy, learning a skill, etc. &mdash; if they set and follow through with their goals.</p> <p>To make this a family matter, come up with a fun vacation you can take together. Figure out the cost (don't forget to budget in money for unexpected extras) and the date. For example, if you are planning on spending $2,500 for a weekend vacation in six months, then you would need to save about $100 each week. Make it a fun game by drawing a chart that tracks progress.</p> <p>Another way to help your child understand how to set financial goals is to have them set their own. For example, if they want a certain toy at the store, figure out how much it will cost. Then make a savings jar and a progress chart for them that relates to how much they earn per week through chores. Frugal-mama.com has a&nbsp;<a href="http://www.frugal-mama.com/wp-content/uploads/2010/01/FrugalMamaSavingsProgressThermometerChart.pdf">free savings goal printable</a> to help you track progress.</p> <p>See also:&nbsp;<a href="http://www.wisebread.com/8-reasons-frugal-families-love-boardgame-night?ref=seealso">8 Reasons Frugal Families Love Boardgame Night</a></p> <p>Whether you don't want to burden your kids with your financial woes or you feel like you don't have enough information to give them, think again. You don't have to share every money worry or goal with them, but show them how you manage money and teach them basic financial fundamentals in a fun manner.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="http://www.wisebread.com/3-good-money-examples-every-parent-should-set">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-fun-books-that-will-get-your-kids-excited-about-money">10 Fun Books That Will Get Your Kids Excited About Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-use-new-toys-to-teach-kids-about-money">How to Use New Toys to Teach Kids About Money</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-help-your-kid-build-their-first-budget">How to Help Your Kid Build Their First Budget</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-top-money-lessons-to-learn-from-ruth-soukups-unstuffed">4 Top Money Lessons to Learn From Ruth Soukup&#039;s &quot;Unstuffed&quot;</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">8 Frugal Living Skills I Wish My Parents Would Have Taught Me</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Family finances financial lessons kids lead by example money lessons parenting Thu, 27 Oct 2016 09:30:25 +0000 Ashley Eneriz 1821540 at http://www.wisebread.com 8 Money Lessons We Can Learn From Baseball http://www.wisebread.com/8-money-lessons-we-can-learn-from-baseball <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-money-lessons-we-can-learn-from-baseball" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/baseball_player_63715703.jpg" alt="Learning money lessons from baseball" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>We're deep into baseball's postseason, and we'll soon be left to fend for ourselves in the long, cold winter. But even in the offseason, the National Pastime can teach us many good lessons, like, the value of working as a team, and how even the best people can fail more often than not.</p> <p>Baseball can teach us about money, too. When you examine the game, you can come away with some lessons that will help you manage your spending and your investments.</p> <p>Consider these truths about the game we love.</p> <h2>1. It's a Long Season</h2> <p>Do you get upset when your baseball team loses a game or two? Do you have trouble with the ups and downs of the season? When you're a fan of team, it's easy to forget that there are a <em>lot </em>of games to be played, and the only thing that matters is where you finish.</p> <p>Your investing approach should reflect a similar reality. Don't get emotional about a stock price being down on any individual day. Like a baseball team, the stock market can slump, but often rebounds. Keep your eyes on your long-term financial goals, and eventually you'll be popping Champagne just like a team that won the title.</p> <h2>2. Homers Are Great, But So Are Singles and Doubles</h2> <p>In baseball, you'd love to have a team that hits a lot of home runs. But you might be just as successful if you have a team that just gets on base and knocks in runs one by one. This is true when it comes to investing. While we'd all like to see that single stock that explodes and makes us rich, the reality is that most of your success will come from small, incremental gains that compound over time.</p> <h2>3. Protect Your Lead</h2> <p>Every good baseball team has a &quot;closer,&quot; or a pitcher who comes in late in the game to get the final outs. When investing, it's also smart to have a plan for protecting your investments when you approach retirement age. As you get older, it's wise to move away from growth stocks and other more volatile investments, and move toward bonds, stable dividend stocks, and cash. This way, your retirement fund will be protected even if there is a big downturn in the stock market.</p> <h2>4. It's Okay to Take a Risk</h2> <p>Sometimes in baseball, you need to try and run for home even though you might be tagged out. If you play too conservatively, you may not win. This is also true for investing. A young person who is investing for the long term will never get rich if they have a conservative portfolio. Most financial advisers recommend investing in mostly stocks when you're young, because the risk is usually outweighed by the potential for higher returns. Sure, you'll get burned sometimes. But more often than not, you'll come out ahead.</p> <h2>5. It's Simpler Than You Think</h2> <p>Baseball has a thick rule book, and it's not easy to master. But at it's core, it's pretty easy to understand. Throw the ball. Hit the ball. Catch the ball. And try to score more than your opponent. Money management and investing are simple things, too, even though they can seem intimidating. Spend less than you earn. Invest as much as you can, in things that mirror the overall performance of the stock market. Get the basics right, and you'll do fine.</p> <h2>6. Think Globally</h2> <p>Baseball may be an American sport, but it's an international game. It's played around the world, from the tropical ball fields of the Caribbean to busy cities like Tokyo. And Major League Baseball teams know that they need to look globally to find the very best talent. Your approach to money and investing should also take on an international approach. Consider investing in emerging markets that offer strong potential for growth. Take a look at currency trading, or even international commodities. There is money to be made if you look outside the United States to build your investment portfolio.</p> <h2>7. Limit Your Mistakes</h2> <p>No one's perfect, either in baseball or with their money. But frequent errors can mean the difference between winning and losing. In baseball, fielders want to catch the ball and throw it accurately. Batters want to avoid swinging at bad pitches. Pitchers want to avoid walking in the winning run.</p> <p>Your finances are just as vulnerable to being hurt by mistakes. Don't buy things you can't afford. Don't invest in things you don't understand. Don't raid retirement funds without understanding the consequences. There are many things you can do wrong to send your financial planning off the rails. With baseball and with your money, it's important to play smart.</p> <h2>8. Look for Value</h2> <p>The best-selling book <a href="http://amzn.to/2dxAyjC">Moneyball</a> by Michael Lewis outlined how the Oakland Athletics were able to field competitive teams despite having a lower payroll than most competitors. The book's core message was that the A's had developed ways to find players that were undervalued by the rest of the league. This desire to find &quot;value&quot; is a key part of money management. When looking to buy something, remember that expensive items aren't always the best. Look for a good combination of quality and price. When looking to purchase stocks, seek out companies that may be undervalued by the marketplace.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/8-money-lessons-we-can-learn-from-baseball">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-8"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-times-you-shouldnt-invest-in-stocks">10 Times You Shouldn&#039;t Invest in Stocks</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-to-prepare-for-a-stock-market-dive">8 Ways to Prepare for a Stock Market Dive</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-reasons-you-shouldnt-invest-like-warren-buffett">7 Reasons You Shouldn&#039;t Invest Like Warren Buffett</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/best-online-sites-for-building-wealth">Best Online Sites for Building Wealth</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-essentials-for-building-a-profitable-portfolio">5 Essentials for Building a Profitable Portfolio</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment analogies baseball money lessons retirement risk saving sports stocks teamwork Fri, 21 Oct 2016 09:01:03 +0000 Tim Lemke 1816943 at http://www.wisebread.com Flashback Friday: 38 Money Lessons We Can Learn From Celebrities http://www.wisebread.com/flashback-friday-38-money-lessons-we-can-learn-from-celebrities <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/flashback-friday-38-money-lessons-we-can-learn-from-celebrities" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/john_oliver_91926655.jpg" alt="Learning money lessons from John Oliver" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Whether you become rich first, or famous first, the two eventually go hand in hand. In order to maintain that financial success, you need to be smart about how all that money is spent. Otherwise, you'll lose both. Here are 38 money lessons we can learn from famous people.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/dwayne_johnson_000018755909.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson?ref=fbf">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a> &mdash; After his football career ended, The Rock had just $7 left to his name. He has since turned that into an impressive acting career, and millions of dollars. He never gave up on his dreams, and neither should you.</p> <p><a href="http://www.wisebread.com/4-money-lessons-we-can-learn-from-jk-rowling?ref=fbf">4 Money Lessons We Can Learn From J.K. Rowling</a> &mdash; She was a single mom and living on government assistance when she wrote the first book in the wildly popular <em>Harry Potter </em>series. Rowling is also the first female billionaire novelist creating a brand worth $15 billion. She knows a thing or two.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/beyonce_knowles_000016852365.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/7-money-lessons-we-can-learn-from-beyonc?ref=fbf">7 Money Lessons We Can Learn From Beyoncé</a> &mdash; Bow down to Queen Bey, because she knows how to manage her money like a baller. She might be one-half of the biggest power couple in the world, but she has also created a diversified career in entertainment, and could easily stand on her own.</p> <p><a href="http://www.wisebread.com/zooey-deschanel-never-pays-late-fees-and-5-other-smart-money-lessons-from-celebrities?ref=fbf">Zooey Deschanel Never Pays Late Fees and 5 Other Smart Money Lessons From Celebrities</a> &mdash; Did you know that Kristen Bell is a coupon clipper? Or that Mindy Kaling returns most of the clothes she buys? Celebrities are just like us! Even though they are raking in the dough.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/john_oliver_12450865504_98a7a40631_z.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/7-best-money-management-tips-from-john-oliver?ref=fbf">7 Best Money Management Tips From John Oliver</a> &mdash; John Oliver might be a famous funny man, but his weekly show on HBO often covers financial news stories that everyone should pay attention to. From zombie debt to creating a reliable retirement plan, John Oliver knows all.</p> <p><a href="http://www.wisebread.com/8-financial-lessons-from-adele?ref=fbf">8 Financial Lessons From Adele</a> &mdash; Adele might say &quot;Hello from the other side&quot; of extreme wealth, but she lives a surprisingly relatable lifestyle. She shops at thrift stores and one of her most extravagant purchases was a plasma TV.<em> I know! </em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/chrissa-hardy">Chrissa Hardy</a> of <a href="http://www.wisebread.com/flashback-friday-38-money-lessons-we-can-learn-from-celebrities">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-10"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-38-money-misconceptions-we-need-to-stop-believing">Flashback Friday: 38 Money Misconceptions We Need to Stop Believing</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-34-ways-fitness-can-improve-your-finances">Flashback Friday: 34 Ways Fitness Can Improve Your Finances</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-85-best-ways-to-save-on-halloween-this-year">Flashback Friday: 85 Best Ways to Save on Halloween This Year</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-50-money-moves-you-need-to-make-when-big-changes-happen">Flashback Friday: 50 Money Moves You Need to Make When Big Changes Happen</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-brilliant-tips-from-smart-mom-rich-mom">4 Brilliant Tips From &quot;Smart Mom, Rich Mom&quot;</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Frugal Living Entertainment Adele Beyoncé budgeting celebrities fbf finances flashback friday frugal living jk rowling john oliver money lessons Fri, 14 Oct 2016 10:00:11 +0000 Chrissa Hardy 1812616 at http://www.wisebread.com What Booze Teaches Us About Money http://www.wisebread.com/what-booze-teaches-us-about-money <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/what-booze-teaches-us-about-money" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_40966788_MEDIUM.jpg" alt="what booze teaches us about money" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Alcohol gets a bad rap for numbing the brain. But as it turns out, there are some <a href="http://www.businessinsider.com/what-alcohol-does-to-your-body-and-mind-2012-11">positive benefits</a> to responsible indulgence in wine, beer, or whiskey, too. A couple of drinks can increase your creativity, promote better and deeper sleep, and make you feel at ease. And <a href="http://www.foodandwine.com/articles/8-health-benefits-of-drinking-wine">moderate wine consumption</a> can reduce your risk of heart disease, heart attack, and diabetes. Now here's a benefit of alcohol consumption that you maybe haven't heard: A healthy relationship to alcohol can pave the way for improved fiscal health. Yes, we're serious. And we've got the logic to back it up. Here are a few ways in which a little booze can boost your financial literacy.</p> <h2>Wine Teaches Us to Develop a Knack for Value Forecasting</h2> <p>If you've ever been to a wine tasting, you know that the ability to sniff out the complexity of flavors before the stuff ever touches the tongue is a celebrated form of art. Likewise, the ability to forecast a stock's future value based on historical trends, an industry's present-day performance, and the current economic climate is more skill than gamble.</p> <p>&quot;Once you learn how to give wine a good sniff, you'll begin to develop the ability to isolate flavors &mdash; to notice the way they unfold and interact &mdash; and, to some degree, assign language to describe them,&quot; reads Wine Enthusiast magazine's guide to wine tasting for beginners. &quot;This is exactly what wine professionals &mdash; those who make, sell, buy, and write about wine &mdash; are able to do.&quot;</p> <p>Sounds a bit like the skills needed to succeed in playing the stock market, doesn't it? Indeed, the methods used in wine selection aren't much different from those used by skilled stock traders and investors. So the next time you go wine tasting or select a bottle of red, think about all of the subtle ways in which you're assessing a wine's taste and value, and remember to apply that same circumspection when maneuvering your personal stock trades and purchases.</p> <h2>Beer Teaches Us the Value of Seeing the Big Picture</h2> <p>It's Friday night. You get home and pour yourself a pint of beer. But no so fast! No matter how eager you are to unwind from the work week, a hasty pour is ill-advised. Pour slowly. This way, you'll avoid the foam.</p> <p>Why?</p> <p>Imagine for a moment that the <a href="http://www.wisebread.com/the-9-hidden-costs-of-drinking">beer in your glass</a> is a publically traded company. For example's sake, let's call it Microsoft. Congratulations, you are officially a Microsoft shareholder. If the beer is Microsoft, then the foam on top represents all of the daily trades that cause Microsoft's stock value to fluctuate. The value of your stock is in constant flux. Up and down and up and down it goes.</p> <p>As a Microsoft shareholder, you want to know how all of these trades are affecting the value of your shares, right? Not so, according to <a href="http://amzn.to/2dsu1V6">The Simple Path To Wealth</a> author Jim Collins. When a stock price jolts up high or sinks down low, it's hard to know what to make of it. Even the top day traders struggle to make sense of it all. Is a big daily point loss indicative of real loss in company value? Or is it just a little hiccup &mdash; background noise &mdash; soon to be forgotten by month's end? Bottom line: It's hard to say.</p> <p>Now, you want to make smart trades, right? So you're going to want to be able to develop some skill in assessing your stock's real value. That's where the ability to differentiate between all those little hiccups and the real ebb and flow in your stock's value are going to come in handy. If you distract yourself with the background noise &mdash; if you crowd your pint glass with foam &mdash; you're going to have a hard time zeroing in on what's really going on. And what is really going on? Well, look at your annual shareholder statements. Take a peek at the monthly ones, too. These monthly and yearly value fluctuations show real trends. Not insignificant hiccups, but trends.</p> <h2>Whiskey Teaches Us That the Best Things Take Time</h2> <p>A good whiskey takes years to mature. And, if we're talking high-end whiskey, then it's safe to bet it was left to age in a barrel for 10-20 years. Indeed, <a href="http://www.telegraph.co.uk/foodanddrink/foodanddrinknews/7422701/Worlds-oldest-whisky-goes-on-sale-for-10000-a-bottle.html">the world's oldest whiskey</a> developed its complex, woody flavor over a period of 70 years. If the cask had been popped open and poured out sooner, it simply wouldn't have been as valuable, nor as good.</p> <p>In whiskey, like in saving for retirement, patience is a virtue. So is an enduring commitment to making small, incremental steps toward a future goal &mdash; be it a good spirit or a comfortable golden years era. That's why, in many ways, it can be helpful to think of your long-haul effort to save for retirement as a journey to make a really great whiskey. Set and stick to a realistic savings goal, make smart investments, and live within your means. This stuff isn't easy, and it's certainly not always fun, but there's big payoff to be had for all your efforts. Like when you reach your 60s with a sizable nest egg to show for all your hard work. And when you reach that wonderful day, why not consider celebrating with whiskey? After all, you've earned it.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/brittany-lyte">Brittany Lyte</a> of <a href="http://www.wisebread.com/what-booze-teaches-us-about-money">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-ways-to-save-money-when-getting-your-drink-on">15 Ways to Save Money When Getting Your Drink On</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-9-hidden-costs-of-drinking">The 9 Hidden Costs of Drinking</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/alcohol-is-good-for-your-heart">Alcohol is good for your heart</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-rich-youd-be-if-you-stopped-drinking">Here&#039;s How Rich You&#039;d Be If You Stopped Drinking</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/getting-drunk-on-the-cheap-wine-tastings">Wine Tastings: Finding Cheap Wine That You Like</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Food and Drink alcohol beer booze cash cocktails drinking drinks money money lessons saving money wine Wed, 05 Oct 2016 09:30:29 +0000 Brittany Lyte 1805693 at http://www.wisebread.com 8 Best Sites to Help Your Kids Learn About Money http://www.wisebread.com/8-best-sites-to-help-your-kids-learn-about-money <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-best-sites-to-help-your-kids-learn-about-money" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/mother_daughter_breakfast_64728213.jpg" alt="Finding best sites to help your kids learn about money" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Teaching your children about money is an important, yet often overlooked area of education. Most kids will not want to sit through a lecture about credit card usage and budgeting practices, but they might be more willing to listen to interactive videos and games. These sites make learning about money and money management fun and enjoyable.</p> <h2>1. Biz Kids</h2> <p><a href="http://bizkids.com/">Biz Kids</a> offers short and interesting videos aimed toward middle schoolers. These videos cover a wide range of topics from young entrepreneurs to starting a business to different money personalities. For teachers and home-schoolers, there are coordinating lessons that go with the videos. The site also has three different games &mdash; Break the Bank, Bring Home the Bacon, and Dollar a Glass &mdash; which allow kids to try their hands at running a virtual lemonade stand.</p> <h2>2. Rich Kid, Smart Kid</h2> <p>The <a href="http://www.richkidsmartkid.com/">Rich Kid, Smart Kid</a> site was created by The Rich Dad Company, the brand behind the popular book, <a href="http://amzn.to/2chdAMF">Rich Dad, Poor Dad</a>. The site comes with four interactive games: Jesse's Ice Cream Stand, Reno's Debt Dilemma, Ima's Pay Yourself 1st, and Jesse's Big Change. The site has fun graphics and is kid-friendly to use. For parents and teachers, there are teaching resources for every age level.</p> <h2>3. Lemonade Tycoon</h2> <p>While not technically a site, <a href="http://www.shockwave.com/gamelanding/lemonade.jsp">Lemonade Tycoon</a> is an addicting game that shows kids the way to build a business from the bare minimum to franchise status. This game can help show children that in order to grow a business, you need to strike a balance between profits and investments. Kids will also learn that there is a fine balance between product cost, product quality, and product success. For example, adding more water to the lemonade will bring down costs, but it can also drive away customers. On the other hand, using a lot of sugar in the lemonade will cost more and gain more sales, but the profit margin is smaller.</p> <h2>4. H.I.P. Pocket Change</h2> <p><a href="https://www.usmint.gov/kids/">H.I.P. Pocket Change</a> focuses less on money management and more on the history of coins worldwide. The site has several games and cartoons that teach how a coin is made and other important dates in coin history. There are also a lot of great resources for kids interested in coin collecting.</p> <h2>5. Sense &amp; Dollars</h2> <p>The <a href="http://senseanddollars.thinkport.org/">Sense &amp; Dollars</a> site has several interactive calculators. The site calls them games, but they are simply calculators that require little input. The Saving Money section of the site is most helpful, especially the Show Me the Money calculator, which shows how much an investment will grow in different saving accounts. The Charge game is also useful since it can show your child how much something costs when you charge it and then make minimum payments. On the other hand, The Makin' the Bacon calculator is extremely outdated and does not factor in taxes or SSI taken out of each paycheck.</p> <h2>6. It's My Life</h2> <p><a href="http://pbskids.org/itsmylife/money/">It's My Life</a> from PBS Kids offers advice, shows, and games for all areas of life. The money section is small, but there is a game called Mad Money. There is also a lot of helpful advice for older kids that want to get started in babysitting.</p> <h2>7. Credit Card Simulator Game</h2> <p>This <a href="https://www.channelone.com/feature/credit-card-simulator-game/">Credit Card Simulator</a> game from Channel One allows kids to get a virtual platform card and virtually shop in the game's mall. The game will then teach about the downside of interest and debt.</p> <h2>8. Three Jars</h2> <p><a href="http://www.threejars.com/">Three Jars</a> is a great site for kids and parents alike, since it can help streamline allowance time. With this site, kids keep track of how much money is owed to them through either chores, odd jobs, or both. The money then gets split into three jars entitled Spend, Save, and Share. The goal of the site is to make managing allowances easier, while minimizing nagging and entitlement in your home. For example, when a child asks for something at the store, you can buy it for them if the money is in their spend jar. If the item costs $20, and they only have $5 in their spend jar, then the responsibility is on them. They either need to do more chores or spend less money.</p> <p>While your kids might not want to trade in their video games for these interactive money games and websites, they are a great starting point to talk about money in your home.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="http://www.wisebread.com/8-best-sites-to-help-your-kids-learn-about-money">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-fun-money-apps-for-kids">10 Fun Money Apps for Kids</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-top-money-lessons-to-learn-from-ruth-soukups-unstuffed">4 Top Money Lessons to Learn From Ruth Soukup&#039;s &quot;Unstuffed&quot;</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-bad-money-habits-youre-teaching-your-kids">4 Bad Money Habits You&#039;re Teaching Your Kids</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-help-your-kid-build-their-first-budget">How to Help Your Kid Build Their First Budget</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">8 Frugal Living Skills I Wish My Parents Would Have Taught Me</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Family Technology allowances games interactive kids learning tools money lessons teaching websites Mon, 19 Sep 2016 10:00:07 +0000 Ashley Eneriz 1794072 at http://www.wisebread.com 4 Top Money Lessons to Learn From Ruth Soukup's "Unstuffed" http://www.wisebread.com/4-top-money-lessons-to-learn-from-ruth-soukups-unstuffed <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-top-money-lessons-to-learn-from-ruth-soukups-unstuffed" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/mother_holding_baby_84495417.jpg" alt="Mother learning money lessons from &quot;Unstuffed&quot;" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>What does clutter have to do with your finances? A lot more than you think. It can be easy to write off clutter as just an annoyance that keeps your home from being clean. However, clutter can have a stronger hold on your life. Not only does clutter take up your space, but it also can greatly affect your schedules, relationships, and finances, all while draining you physically and mentally.</p> <p>Blogger and author Ruth Soukup gets to the root issue of clutter in many areas of our lives in her new book, <a href="http://amzn.to/2b18IIo">Unstuffed</a>. When I read it, I was surprised to find that this was not just a home organization book. There are also very important financial lessons strewn throughout, and when applied to your life, they could drastically change your clutter and financial issues. Here are some of the biggest money take-aways from the book.</p> <p>See also: <a href="http://www.wisebread.com/8-ways-clutter-keeps-you-poor?ref=seealso">8 Ways Clutter Keeps You Poor</a></p> <h2>Clutter Keeps Kids From Learning Important Financial Lessons</h2> <p>Many parents will probably agree that the biggest source of stuff in their homes comes from their children. As a parent, it is hard to not buy your children things, especially when you want to show them love. However, it is important to realize that the more stuff they have, the more spoiled and dissatisfied they can become. Many times, parents will buy items for their kids to solve their child's boredom or to remedy parental guilt.</p> <p>This is just setting up our children for failure, since it does not properly teach your child to respect money or stuff. &quot;Additionally,&quot; Soukup says, &quot;fighting the battle of stuff alongside our kids, rather than only for them, will also help them learn virtually life lessons about the value of money, the reality of hard work (which includes caring for stuff!), and the responsibility of stewarding our resources wisely.&quot;</p> <h2>Learn to Give Your Presence, Not Your Presents</h2> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/51p%2BiVuIC6L._SX326_BO1%2C204%2C203%2C200_.jpg" width="328" height="499" alt="" /></p> <p>Soukup talks a lot about her aunt that loved to lavish her young girls with gifts for every major holiday. Finally, Soukup told the aunt it would be more important for her to spend quality time with the girls than to just get them stuff. Her aunt listened, and did a lot of fun things with them instead. A few years later, she passed away from cancer. Soukup was thankful that her girls had memories of her as a person, and not just the stuff she had given them.</p> <p>Let this be encouragement for you personally to bless people with your time, not just your gifts. Memories will always have a bigger impact on relationships, and this applies to all relationships. You can never replace the quality of time with the quantity of stuff.</p> <h2>How to Deal With Family Members Who Love to Give</h2> <p>It can be hard to turn down well-meaning family members who love to buy you gifts for every holiday. However, sometimes well-meaning family members can make clutter situations worse. It might not be easy, but it is necessary to have a heart-to-heart talk with your family.</p> <p>Tell them how important they are to you and that you love how thoughtful and generous they are. Share your struggles with clutter, and honestly say that you are trying to cut down on the amount of stuff and gifts that enter your home. Encourage them to give gifts of time instead. For example, if your mom loves to buy things for your daughter, suggest spending that money on special &quot;Grandma-Granddaughter Dates&quot; instead. When family members ask for gift suggestions, instead of saying &quot;nothing,&quot; encourage them to take your children on a special trip to get ice cream or to buy family passes to a zoo or museum.</p> <p>Talking with loved ones can be hard, and changes might not be immediate. It is important to remember to continue to love them and encourage them gently to gift their time rather than just stuff.</p> <h2>Don't Let High Value Keep You From Decluttering</h2> <p>Don't withhold from decluttering because of how much a particular item cost you. Many times people will hang onto an item because there is too much guilt attached to discarding it. They paid too much for that item, so they feel as if they are wasting money by getting rid of it.</p> <p>If you're not using it and it is taking up space in your home, then it is doing you more of a disservice. &quot;Better to sell it and recoup some of the loss than to keep it and gain nothing out of it,&quot; Soukup writes.</p> <p>Soukup's book was packed with decluttering wisdom, as well as thoughtful tips on how to have better relationships and how to better use our time. Decluttering your life does not just mean getting rid of a lot of stuff in your home. Instead, it is important to free yourself from the negativity of having too much stuff, buying too much stuff, and having stuff clutter your calendar, relationships, and soul.</p> <p><em>How do you deal with the clutter in your life?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="http://www.wisebread.com/4-top-money-lessons-to-learn-from-ruth-soukups-unstuffed">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-best-sites-to-help-your-kids-learn-about-money">8 Best Sites to Help Your Kids Learn About Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/this-season-give-your-child-the-gift-of-fiscal-responsibility">This Season, Give Your Child the Gift of Fiscal Responsibility</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">8 Frugal Living Skills I Wish My Parents Would Have Taught Me</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-bad-money-habits-youre-teaching-your-kids">4 Bad Money Habits You&#039;re Teaching Your Kids</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-money-moves-to-make-as-soon-as-the-kids-move-out">7 Money Moves to Make as Soon as the Kids Move Out</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Family books clutter gifts kids money lessons quality quantity ruth soukup Thu, 18 Aug 2016 09:30:37 +0000 Ashley Eneriz 1774332 at http://www.wisebread.com 6 Money Lessons We Could All Learn From Dwayne "The Rock" Johnson http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/dwayne_johnson_000018755909.jpg" alt="Learning money lessons from The Rock" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Whatever Dwayne &quot;The Rock&quot; Johnson is cooking, you better get a hold of his recipe for success! According to Forbes' list of the world's highest-paid celebrities, Johnson earned a cool <a href="http://www.forbes.com/profile/dwayne-johnson/">$64.5 million in 2016</a>, more than double of what he earned the previous year ($31.5 million).</p> <p>He came from very humble beginnings, hustled his way through professional wrestling, and developed a successful career in the entertainment industry. The Rock never took himself too seriously (remember his role as thug Elliot on <a href="https://youtu.be/y2trL80lJPQ">Be Cool</a>?), and is still quite humble. Here are the six money lessons we could all learn from Dwayne &quot;The Rock&quot; Johnson.</p> <h2>Don't Put All Your Eggs in One Basket</h2> <p>This is one of the most well-known investing maxims. Johnson is a true believer on this mantra and he has diversified his sources of income, including wrestling, acting, and producing a number of reality shows and the HBO series <em>Ballers</em>. While the bulk of his net worth (estimated to be somewhere between <a href="http://okmagazine.com/photos/dwayne-the-rock-johnson-by-the-numbers-his-nine-figure-net-worth-and-more/photo/1001096506/">$150 millio</a>n and <a href="http://www.celebritynetworth.com/richest-athletes/wrestlers/the-rock-net-worth/">$190 million</a>) comes from his movie roles, Johnson still applies the don't-put-all-your-eggs-in-one-basket concept by working in more roles than his fellow actors.</p> <p>And this strategy has rewarded him handsomely. In 2013, actor Robert Downey Jr. was the king of the box office for his role as Tony Stark in the film <em>Iron Man 3</em>, which earned $1.2 billion worldwide. However, The Rock was able to earn $100 million more than Downey Jr. by working in more movie roles. While Downey Jr. only worked on <em>Iron Man 3</em>, Johnson worked on four movies, including <em>Fast &amp; Furious 6</em> and <em>G.I. Joe: Retaliation</em>. &quot;Success isn't always about greatness. It's about consistency. Consistent hard work leads to success. Greatness will come,&quot; says Johnson.</p> <h3>Money Lesson #1: Get a Side Gig</h3> <p>&quot;I never wanted to stay in one genre; I never wanted to be pigeonholed or defined as the actor who only worked in one genre,&quot; claims Johnson. Just like him, capitalize on your other talents and participate in the &quot;gig economy&quot; to get some extra cash on top of your regular salary. From driving with Uber to online tutoring to assembling furniture, you have a wide range of options to choose from. Who knows, if you're able to make more for doing what you truly love, you'll might even be able to bid goodbye to the good old 9-to-5 and long-commute! (See also: <a href="http://www.wisebread.com/13-ways-to-make-money-online-that-arent-scams?ref=seealso">13 Ways to Make Money Online That Aren't Scams</a>)</p> <h3>Money Lesson #2: Diversify Your Investments</h3> <p>Like Johnson, generate multiplies streams of income to hedge against the risk of one of them drying up. By using different kinds of investments, you'll achieve, on average, higher returns and lower risk than any individual investment found within the portfolio. While socking away in a savings account is a source of guaranteed income, it'll never allow you to reach your financial goals. So, you need to invest in stocks. Still, don't put all of it on stocks: Experts suggest young savers allocate 10% to bonds and 90% to stocks.</p> <h2>Set Up Sources of Passive Income</h2> <p>While Johnson is able to command up to $20 million for a movie role, his most impressive source of income is his bonus and royalty contract with the World Wresting Entertainment (WWE). In 2016, wrestler John Cena is without a doubt the star of the WWE, with a star caliber <a href="http://www.totalsportek.com/money/wwe-wrestlers-salaries/">$2.75 million five-year contract</a>, including 7% on merchandise sales and hefty share of Pay-Per-View earnings.</p> <p>However, Cena has to make extensive appearances and really work for that paycheck. On the other hand, Johnson has a $3.5 million contract that only requires him to appear on selected WWE dates and earns a 7% bonus for high merchandise sales. Between 2014 and 2015, he only appeared a handful of times at WWE events. Show up, raise an eyebrow, drop a &quot;People's Elbow,&quot; and get paid a couple hundred thousand dollars (before bonuses!). Not a bad deal, at all.</p> <h3>Money Lesson #3: Negotiate More Than Just Salary</h3> <p>Like The Rock, don't just focus on salary when negotiating your employment contract. Think about other ways that you can get paid extra for the same amount of work. Some examples to consider are:</p> <ul> <li>A bump in your employee match to your retirement account;</li> <li>A subsidy to your commuting expenses;</li> <li>A reduction in your health plan monthly fees;</li> <li>A refund on professional fees or certifications; or</li> <li>A bonus in company shares.</li> </ul> <h3>Money Lesson #4: Consider Income-Focused Investments</h3> <p>While The Rock isn't sure whether or not he'll be able to secure $20 million for his next acting role for the big screen, he can always count on that $3.5 million paycheck from the WWE. Having a secure stream of income is key for better budgeting. It's great to invest your money in equities, but it's even better to have a portion in stocks that pay dividends on a regular basis. Whether you're closer to retirement and need to focus on income, or just need to stabilize your portfolio, look for <a href="http://www.wisebread.com/stabilize-your-portfolio-with-these-11-dividend-stocks">dividend stocks</a> or <a href="http://www.wisebread.com/10-top-mutual-funds-for-income-investors">low-fee mutual funds</a> focusing on income.</p> <h2>Protect the Engine That Powers You</h2> <p>From being evicted from his home during his childhood, to having several run-ins with the law during his adolescence, to only having seven bucks to his name at the end of his football career, Johnson admits that he has had a messy life. So, how was he able to turn things around and achieve success? Johnson admits that the best advice he ever got was &quot;Around every corner always protect the engine that powers you.&quot;</p> <p>For Johnson, his support team consists of his mom Ata Johnson, his girlfriend Lauren Hashian, his ex-wife Dany Garcia, and his ex-wife's husband Dave Rienzi. While the first two make perfect sense, the latter two could leave you scratching your head. Turns out that Johnson and Garcia are co-founders of 7 Bucks Productions (named after the $7 that Johnson had left after his football career, the company is in charge of managing his projects) and Rienzi is Johnson's conditioning and strength coach. &quot;I'm happy to say we're all together working nicely, but it took a lot of work. With Danny, it was going through the sludge of divorce and then having the clarity to say, 'We're still friends, we respect each other, let's do business. And let's do big business,'&quot; says Johnson about his support team.</p> <h3>Money Lesson #5: Buy Life Insurance</h3> <p>When you're the main breadwinner of your household like Johnson, you have to establish a rock-solid plan in case you pass away or are no longer able to provide for your loved ones. Nobody likes to think about their own mortality but you need to realize that right now is when your life insurance is at its cheapest. If you're covering the biggest portion or all of the monthly mortgage payment, who will cover those moneys in your absence? Are you comfortable with the idea that your retired parents or that your children have to take over a debt? That's why you need to protect the &quot;engine&quot; that powers you.</p> <h3>Money Lesson #6: Listen to More Professionals</h3> <p>From executing a will to preparing the taxes of your small business to pulling out a tree, there are many times that you're better off hiring a professional. Not only will you get the job done right, but you'll also &mdash; and more importantly &mdash; prevent any financial damage. Just like in the case of The Rock, you'll have to cede control to somebody who you may not necessarily be too happy with but does an outstanding job, anyway. Two places that you can start with are your investment account and your retirement account. Depending on your accounts, you may already be paying or have access to a financial professional. (See also: <a href="http://www.wisebread.com/who-to-hire-a-financial-planner-or-a-financial-adviser?ref=seealso">Who to Hire: A Financial Planner or a Financial Adviser?</a>)</p> <p><em>What are other money lessons you've learned from Dwayne &quot;The Rock&quot; Johnson?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-can-learn-from-gilmore-girls">6 Money Lessons We Can Learn From &quot;Gilmore Girls&quot;</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-38-money-lessons-we-can-learn-from-celebrities">Flashback Friday: 38 Money Lessons We Can Learn From Celebrities</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-celebrities-with-shockingly-low-net-worths">6 Celebrities With Shockingly Low Net Worths</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/its-the-21st-century-why-is-your-money-stuck-in-the-20th">It&#039;s the 21st Century — Why Is Your Money Stuck in the 20th?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/these-10-money-podcasts-will-help-you-save-tons">These 10 Money Podcasts Will Help You Save Tons</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entertainment Lifestyle advice celebrities dwayne johnson inspiration money lessons net worth role models the rock Tue, 16 Aug 2016 09:00:05 +0000 Damian Davila 1773240 at http://www.wisebread.com 8 Money Lessons I Learned Selling Office Supplies http://www.wisebread.com/8-money-lessons-i-learned-selling-office-supplies <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-money-lessons-i-learned-selling-office-supplies" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_working_food_service_21858355.jpg" alt="Woman sharing money lessons she learned selling office supplies" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>My first real job came when I was 16 years old and landed a position at one of those large <a href="http://www.wisebread.com/best-credit-cards-for-office-supply-purchases?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=article">office supply stores</a>.</p> <p>As jobs for high schoolers go, it was not a bad one. I earned some money to get through the summer, kept myself busy, learned a lot about varieties of printer ink, and made some friends in the process. I also took away some solid money lessons that have proven helpful over the years.</p> <p>So as we enter summer, let me offer these financial bits that I <a href="http://www.wisebread.com/6-money-lessons-i-learned-working-as-a-corn-detasseler" target="_blank">learned from my first job</a>.</p> <h2>1. Work Isn't So Bad</h2> <p>Everyone fantasizes about not having to work. But by having a job at the office supply store, I realized that being employed isn't a bad thing. A job gives you income, which is a pretty important thing to have if you want do stuff. And working at a job allows you to learn and enhance key skills like communication, reliability, and even mathematics. A job, to put it simply, can give you a foundation for life.</p> <h2>2. Investing Is Better Than Spending</h2> <p>I can tell you for sure that the cash from my first paychecks did not go into a Roth IRA, or even a savings account with a decent interest rate. No, it went to movies, trips to Burger King, Stone Temple Pilot CDs, and baseball tickets. If I had enough money leftover for gas in my car, I was happy.</p> <p>I had fun as a teenager, but if I had saved more of my earnings and invested them, the total stash would have grown tremendously, and I'd have a lot more money in the bank now. Even just $1,000 invested in an index fund in 1996 would be worth about $4,000 now. If I had somehow managed to save $5,000, I'd have about $20,000 today.</p> <h2>3. The Government Get Its Cut</h2> <p>My first job meant my very first paycheck, which meant I got a glance at the amount of money Uncle Sam takes away. And it certainly seemed like a lot! By looking at my first check, I came to understand that you can only plan your spending based on take-home pay, not your gross wages. Later on in my work life, this understanding of the tax man led me to learn about 401K, Roth IRA plans, and other tax-advantaged ways to invest.</p> <h2>4. You Can Always Haggle</h2> <p>Everything for sale has a price, but that doesn't necessarily mean that's what you have to pay. There's very little downside to asking if you can pay less for an item if you believe it's overpriced. Often, stores will have price-match guarantees that aren't advertised. And you can always ask a manager to adjust a price if you think you have a good reason. When I worked at the office supply store, we had a small refrigerator for sale that had a damaged handle. It otherwise worked fine, but the manager agreed to cut the price in <em>half </em>simply because the customer asked.</p> <h2>5. Never Stop Learning</h2> <p>When I worked at the office supply store, we had many high-schoolers and college students on staff, but also a number of middle-aged and older employees who had been there a long time. Seeing these older workers made me realize that I did not want to find myself employed as a stockboy at an office supply store for the rest of my life. It was important for me to continue with school and develop a wide range of skills that would give me career options and the chance to earn more money over time.</p> <h2>6. Salespeople Want You to Part With Your Money</h2> <p>Though my primary job at the office supply store was to help with customer service, I also helped with sales of office furniture. I was encouraged to convince customers to buy our brand of chairs, desks, and shelves.</p> <p>Keep in mind, my job was not to ensure people ended up with the best product. It was to get them to <em>believe</em> our product was the best, whether that was true or not. I became a master in the art of spewing baloney, and it somehow worked a lot of the time. I earned a bonus each time a customer bought a product I helped sell.</p> <p>Remember this: A salesperson does not work for you and does not have your best interests in mind.</p> <h2>7. Everything Goes on Sale at Some Point</h2> <p>I worked long enough at the store to know that just about every product was discounted at one point or another. It wasn't always easy to predict when items would go on sale, but I learned that if you waited long enough, a lower price would come around. And certain items went on sale at certain times a year. There were usually deep discounts, for example, on many items at back-to-school time. And the holidays usually meant big <a href="http://www.wisebread.com/surprising-ways-to-save-even-more-on-black-friday?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campagin=article">Black Friday sales</a> and other promotions.</p> <p>I learned that the most patient shoppers were the ones most often rewarded with bargains.</p> <h2>8. Americans Love Their Credit Cards</h2> <p>As a teenager, I didn't have a credit card. And my parents were rather frugal people who used cash whenever possible. So it came as a surprise to me when, as a cashier, I would see most customers using credit cards, even for small purchases.</p> <p>It's possible that many of these customers were only using cards to collect reward points or cash back, but I can't help but think they were racking up considerable amounts of debt.</p> <p>We're up to about $1 trillion in credit card debt as a nation, and I can't help but think a portion of that is the result of people using cards for small purchases when they could have used cash.</p> <p><em>What was your first job? What did it teach you about money?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/8-money-lessons-i-learned-selling-office-supplies">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-money-moves-to-make-the-moment-you-get-a-promotion">8 Money Moves to Make the Moment You Get a Promotion</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/21-things-that-young-adults-absolutely-need-to-know-about-money">21 Things That Young Adults Absolutely Need to Know About Money</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-i-learned-working-as-a-corn-detasseler">6 Money Lessons I Learned Working as a Corn Detasseler</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-things-people-who-are-good-with-money-never-say">5 Things People Who Are Good With Money Never Say</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-personal-finance-tips-for-introverts">8 Personal Finance Tips for Introverts</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Career and Income investing life skills money lessons saving summer jobs teenagers working Wed, 08 Jun 2016 09:30:23 +0000 Tim Lemke 1725703 at http://www.wisebread.com How to Use New Toys to Teach Kids About Money http://www.wisebread.com/how-to-use-new-toys-to-teach-kids-about-money <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-use-new-toys-to-teach-kids-about-money" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000045194140_Large.jpg" alt="kids can use new toys to learn about money" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Last year, my daughter asked for a hamster, and I hatched a nefarious plan. Since I really didn't need another animal in the house, I told her she'd have to pay for it herself, hoping that this would lead her to drop the topic.</p> <p>We went to the pet store and looked at the hamsters, which (to my dismay) only cost a few dollars. Then we priced cages, food, bedding, chew toys, and a hamster wheel. Once we calculated it all, she understood that a hamster costs a lot more than the price of the rodent itself.</p> <p>Instead of giving up like I'd expected (and hoped!), she saved $75 over the next several months, and proudly brought home her new pet, along with all his little hamster accessories, and several months' worth of bedding and food.</p> <p>When my daughter proved me wrong, I realized that we often underestimate kids' capacity for understanding how money works. Here are more ways to harness children's wants to help them learn financial lessons that will last much longer than any toy (or hamster). (See also: <a href="http://www.wisebread.com/4-bad-money-habits-youre-teaching-your-kids?ref=seealso">4 Bad Money Habits You're Teaching Your Kids</a>)</p> <h2>Don't Shy Away From Discussing Cost</h2> <p>You and your child are in the toy store, and they ask for a new Lego set. Don't just say, &quot;It's too expensive.&quot; Whether you are willing to buy it or not, have the child check the price of the item. Discuss how much time you would have to work to purchase that toy, and what other things you could pay for instead with that amount of money.</p> <h2>Let Them Earn to Learn</h2> <p>Your six-year-old probably won't find a lot of job opportunities on Monster.com, so his pay is probably going to come from you. Whether you choose to <a href="http://www.wisebread.com/the-easy-way-to-set-an-allowance-that-wont-ruin-your-kid">pay your child an allowance</a> that is inedependent of chores or jobs they do at home, the important thing is that they get a little cash of their own, so they begin to learn that spending $1 on gum means they no longer have a dollar to put toward a yo-yo.</p> <h2>Let Them Buy Stupid Toys</h2> <p>One of the most agonizing experiences of my life was following my daughters around Chicago's huge American Girl Store, watching them try to decide how to spend a little money I had given them. My older daughter bought something sensible, a folding seat that would allow her to strap her doll to her carryon luggage. My younger daughter wanted a hair-styling set, which included sponge curlers, curling papers, and a plastic spray bottle. It killed me to watch her lay down $20 for a box of small items that would have cost $1 elsewhere, knowing they would soon be scattered all over her bedroom floor.</p> <p>But I let her do it. Just as I expected, she played with the new set for about one day, but I spent years finding the curlers and papers in odd places around the house. Now, a few years later, this daughter does put a litte more thought into how long her toy purchases might last, so &mdash; even though I am still finding those curlers &mdash; it was worth it.</p> <h2>Show Them How to Get More for Their Money</h2> <p>If your child is saving for a specific toy, introduce them to ways they can get there faster, such as using <a href="http://www.wisebread.com/6-great-teachable-money-moments-to-share-with-your-kids">coupons and sales</a>. Personally, I usually have my kids save enough to cover the full price, then if I have a coupon, I show it to them just before the purchase, and give them back the cash that the coupon saved. Getting cash back in their hands seems to make a big impact.</p> <h2>Practice at Yard Sales</h2> <p>Even if my kids don't have any of their own money on them, I am known to hand them each a dollar or two when we come across a garage sale, because the situation is rife with learning opportunities. It's great practice conducting sales transactions; kids often have to politely ask how much things cost. It's a safe place to make mistakes, because no matter how useless a toy they purchase might be, chances are they only blew a few bucks.</p> <p>And yard sales, of course, offer true bargains. My son recently purchased a toy space shuttle at a block sale using one week's allowance; he would have had to save for months to buy the same toy new. My 12-year-old is getting so confident shopping yard sales that she will actually negotiate with the seller.</p> <h2>Let Them Sell Their Own Used Toys</h2> <p>This tactic takes some supervision, because unfortunately, kids can seriously undervalue gifts adults have purchased for them. I cringed when my son wanted to sell a remote-control dinosaur that he had received for Christmas at our yard sale, where it might have fetched just $5 (it had cost his grandparents about $100).</p> <p>But with a little price research and some talk about the feelings of gifters, kids can resell toys and use the money for something new. Not only is this a way for them to fund their own purchases, it shows them how quickly most new items lose value.</p> <h2>Let Them Choose Gifts for Friends and Charities</h2> <p>Every time my kids are invited to a birthday party, I turn them loose in the toy shop or bookstore with instructions to choose any combination of items that totals $20 to $25. They've learned to check price tags and weigh the benefits of choosing two or three small items versus one big thing.</p> <p>At the holidays, my kids have conducted fundraisers with their service groups to buy gifts for local foster children. First, they raise the money via a bake sale or other fundraiser, then they use the earnings to buy gifts, using everything they've learned about maximizing their money to do the best they can for the kids they're helping.</p> <p><em>How do you teach your kids about money? Share with us!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carrie-kirby">Carrie Kirby</a> of <a href="http://www.wisebread.com/how-to-use-new-toys-to-teach-kids-about-money">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-fun-books-that-will-get-your-kids-excited-about-money">10 Fun Books That Will Get Your Kids Excited About Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-help-your-kid-build-their-first-budget">How to Help Your Kid Build Their First Budget</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">8 Frugal Living Skills I Wish My Parents Would Have Taught Me</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-good-money-examples-every-parent-should-set">3 Good Money Examples Every Parent Should Set</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-unexpected-ways-stay-at-home-parents-save-big">7 Unexpected Ways Stay-at-Home Parents Save Big</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Family Shopping kids money money lessons money lessons for kids new toys saving money toys Mon, 06 Jun 2016 09:30:25 +0000 Carrie Kirby 1723704 at http://www.wisebread.com 7 Money Lessons I Learned From Martial Arts http://www.wisebread.com/7-money-lessons-i-learned-from-martial-arts <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-money-lessons-i-learned-from-martial-arts" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/martial_arts_000064696395.jpg" alt="Money lessons learned from martial arts" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>People tell me all the time that it's hard to believe I studied martial arts for six years. I don't know if that's a compliment or an insult to my training, but it doesn't matter &mdash; I loved the time I spent learning how to discipline my body and my mind.</p> <p>That's the thing about martial arts: It looks like a sport (and it is), but it's so much more. I learned all sorts of things about life and living it and being a good person, all from my time spent in the <em>dojo</em>. (See also:&nbsp;<a href="http://www.wisebread.com/5-things-yoga-can-teach-you-about-money?ref=seealso">5 Things Yoga Can Teach You About Money</a>)</p> <p>I even learned about money. Yup, money. Here are some financial lessons I learned from studying martial arts.</p> <h2>1. Be Aware of Your Surroundings</h2> <p>As I became a martial artist, I became more and more aware of my surroundings. No matter where I was, I started to notice people &mdash; what they were doing, whether it seemed normal, how I felt around them, everything. My sensei drilled it into us: Be aware, be aware, be aware. After all, if it comes down to it, you may not have a chance to use your training if you don't notice what is going on around you.</p> <p>I apply this to my money all the time. By keeping track of what we spend on a weekly basis, I have a good handle on whether or not we are achieving our goals. I also know how much we have available for an emergency and whether something like an odd charge or a bank mistake needs to be handled. My finances don't get away from me because I'm always aware of where we stand.</p> <h2>2. Discipline, Discipline, Discipline</h2> <p>Another concept that is huge in martial arts is discipline. It seems a little strange and unnecessary at first, but students soon learn that, without discipline, they will never be the martial artists they want to be.</p> <p>Similarly, discipline is essential for achieving my financial goals. If I want to go to Mexico this year, I can't buy every shirt or art print or doodad that comes along. So I keep my goal in mind and I use the discipline I learned as a martial artist to progress towards the things that really matter to me.</p> <h2>3. Breathe Through It</h2> <p>Martial artists learn to breathe as they move. They also learn certain types of breath for certain types of movements and situations. And they learn to calm themselves, to still themselves, simply by paying attention to their own breath.</p> <p>Breath helps me financially all the time. When I want something but I know it's not in the budget, I breathe through it. When something bad happens and we have to spend a lot unexpectedly, I take a couple of deep breaths. When I'm worried about our money, when something doesn't seem right with our balances, when the market plummets, I breathe.</p> <p>In all of these situations, breathing helps me make good decisions. It slows me down, calms my body and my mind, and helps me think, rather than just react. It's become second nature now to breathe first when money is an issue.</p> <h2>4. Clear Your Mind</h2> <p>It might sound like a cliche, but a clear mind is essential to being a good martial artist. You have to clear your mind to focus on the one move that is right in front of you, to respond to what your sparring partner is sending your way, and to let your body do what it is trained to do.</p> <p>I have found that it helps me to have a clear mind, too, when trying to solve financial problems. When the budget feels like a tangle, when my husband and I have competing financial goals, when some unexpected expense comes up and we aren't sure how to cover it, I strive for that same clearness of mind. It helps me see solutions that I might not have seen otherwise, and it helps me to take a larger perspective, one in which a single disagreement or setback isn't the end of the world.</p> <h2>5. Sometimes Pain Is Acceptable</h2> <p>Martial artists experience pain. It's not only the sore muscles that come from practice and learning new techniques, but the bruises that come from sparring and breaking, rolling and more. While no one condones long-term injury, most martial artists accept these as par for the course: The bruises are necessary to grow as a practitioner.</p> <p>Sometimes, our financial decisions hurt, too. The pain can be small, like choosing to pay a bill rather than go out on the weekend. Or it can be much bigger, like choosing to help an ailing parent rather than purchase a home. Financial decisions also hurt when they are proven to be mistakes, when we feel like we set ourselves back.</p> <p>This pain, while uncomfortable, helps form who we are. It not only forms us financially, but as whole human beings. Whether we hurt from making a right choice or a wrong one, learning is part of the financial process, and sometimes pain can be acceptable towards that goal.</p> <h2>6. You Can Do More Than You Think You Can Do</h2> <p>Most people (and I say this having been a student and a teacher) come into martial arts wondering if they can really do it. They've seen the movies and it looks impossible, but for whatever reason they are motivated to try. Most of them find that, while they will probably never be Bruce Lee (or even Jackie Chan!), they can do a lot more than they had once thought.</p> <p>I've found that this belief &mdash; that I can do more than I think I can do &mdash; helps me financially, too. There have been times when we were sure we couldn't make ends meet on our income, when we desperately needed a vacation or a car and thought we couldn't do it. And each time I was able to step into believing that there had to be a way, because I'd seen it happen before, during my martial arts journey. We solved each of those problems, which only gave us more confidence in our financial prowess.</p> <h2>7. Progress Comes Slow and Steady</h2> <p>Most martial arts have an established path that takes a person from beginner to expert and beyond. It's a slow path, with motions and movements building on one another in a way that is logical and allows the body time to accustom itself to these new patterns of movement. Some people get frustrated with this, wanting to learn faster or do all the cool stuff right away.</p> <p>It doesn't work that way with martial arts and it doesn't work that way with money, either. Wealth is built one investment at a time. It is built by making one wise decision after another. Most of us won't get rich in a year or two, but we can build our value and our savings the way martial artists are built: slow and steady.</p> <p><em>Have you ever done something that wasn't directly financially related but taught you about money? What did you do and what did you learn?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="http://www.wisebread.com/7-money-lessons-i-learned-from-martial-arts">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-reasons-you-really-need-to-pay-yourself-first-seriously">7 Reasons You Really Need to Pay Yourself First (Seriously)</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-38-money-lessons-we-can-learn-from-celebrities">Flashback Friday: 38 Money Lessons We Can Learn From Celebrities</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-good-money-management-habits-you-already-have">5 Good Money Management Habits You Already Have</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-brilliant-tips-from-smart-mom-rich-mom">4 Brilliant Tips From &quot;Smart Mom, Rich Mom&quot;</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-smart-money-moves-for-empty-nesters">7 Smart Money Moves for Empty Nesters</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance achievements budgeting discipline good habits martial arts money lessons patience perseverance Thu, 26 May 2016 10:30:04 +0000 Sarah Winfrey 1717166 at http://www.wisebread.com