family http://www.wisebread.com/taxonomy/term/4558/all en-US 4 False Assumptions That Could Threaten Your Retirement Years http://www.wisebread.com/4-false-assumptions-that-could-threaten-your-retirement-years <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-false-assumptions-that-could-threaten-your-retirement-years" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/i_need_you_signature_here.jpg" alt="I need your signature here" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>I'm sure it isn't news to you that many people are not saving enough for retirement. For some, there just doesn't seem to be enough money to pay the bills <em>and </em>save. However, for others, faulty assumptions may be to blame.</p> <p>Consider the statements below. Have you ever thought or said such things? If so, they might be keeping you from saving as much as you should for your later years.</p> <h2>1. &quot;I'll be able to earn income as long as I'd like to.&quot;</h2> <p>A growing number of today's workers are planning to keep working past the typical retirement age. However, their plans don't square with the experiences of today's actual retirees.</p> <p>According to the latest Retirement Confidence Survey from the Employee Benefit Research Institute (EBRI), 38 percent of today's workers expect to retire at age 70 or later, or never retire. How does that compare with today's retirees? Just 4 percent actually left the workforce that late.</p> <p>Among retirees who left the workforce earlier than planned, EBRI says many did so &quot;because of a hardship, such as a health problem or disability.&quot; Others retired early because of &quot;changes at their company.&quot;</p> <p>This same expectation/reality gap can be seen in the number of workers who plan to work for pay <em>after</em> they retire. Some 79 percent say that's their intention whereas just 29 percent of current retirees have <em>actually</em> worked for pay.</p> <p>What should you do? Instead of counting on paid work in your later years, plan financially to retire at the typical retirement age. At the same time, keep your vocational skills current so you <em>could</em> keep working if you'd like to and are able to.</p> <h2>2. &quot;Inflation will always be low.&quot;</h2> <p>If you want to do a checkup on your retirement savings, you may be tempted to take your total nest egg and divide it by the number of years you think you might live. This will give you an idea of how much money you'll have each year to cover your annual costs. When you have enough to get by, you might assume you're &quot;set.&quot;</p> <p>There's just one problem with that approach, which people often forget about: inflation. While the cost of living has only been increasing at a relatively moderate rate in recent years, even a 2 percent rise means $500 worth of groceries today will cost about $600 in 10 years. And who knows how long inflation will stay low?</p> <p>That's why keeping your entire nest egg in an account that today pays a fraction of 1 percent is ill advised. Given our longer life spans, it's generally best to invest a portion of your nest egg in stocks. (See also: <a href="http://www.wisebread.com/10-signs-you-arent-saving-enough-for-retirement?ref=seealso" target="_blank">10 Signs You Aren't Saving Enough for Retirement</a>)</p> <h2>3. &quot;I'll always be healthy.&quot;</h2> <p>When you're in good health, it's hard to imagine ever becoming seriously ill. Heart attacks, strokes, cancer, and dementia only happen to other people, right?</p> <p>That assumption may explain why so many people are ignoring resources that could be used to help pay health care expenses later in life. EBRI found that only 13 percent of account holders contributed the full allowable annual amount to their health savings account in 2016. Meanwhile, according to The LTC Financing Strategy Group, only 16 percent of eligible people over age 65 have a long-term care insurance (LTCI) policy. Cost certainly is a factor in these decisions, but an assumption of continued good health may play a role as well.</p> <p>What to do? Face the facts. You probably won't always be as healthy as you are today. According to the National Association of Insurance Commissioners, over half the people turning 65 are expected to need long-term care at some point in their remaining years.</p> <p>If you are using a health savings account in conjunction with a high-deductible health insurance policy, consider boosting your contributions with the intent to carry a large balance into retirement. (See also: <a href="http://www.wisebread.com/how-an-hsa-could-help-your-retirement?ref=seealso" target="_blank">How an HSA Could Help Your Retirement</a>)</p> <p>Also, think about your family history. Did your parents or grandparents have any significant health issues at a relatively young age? If you experience a similar problem, how would you handle the cost? Especially if there's a history of dementia in your family, consider picking up some long-term care insurance. (See also: <a href="http://www.wisebread.com/is-long-term-care-insurance-worth-it?Ref=seealso" target="_blank">Is Long Term Care Insurance Worth It?</a>)</p> <h2>4. &quot;If I ever do become seriously ill, my kids will be there for me.&quot;</h2> <p>What if you <em>do </em>experience a debilitating illness &mdash; one that leaves you needing help with some of the activities of daily living? If you're like most people, you'll probably prefer to avoid living in a nursing home, but what other options would you have?</p> <p>Think about your children. How old will they be when you are 80 or 90? Will they be available, or will they be busy building their careers, raising their own kids, or both? Are they likely to live near you?</p> <p>Counting on your adult kids to help care for you may be counting on too much. Here again, a long-term care policy may be in order. Most of today's LTCI policies will help cover the cost of a nursing home <em>and </em>in-home care.</p> <p>Among the many threats to a financially secure retirement, the difficulty many of us have envisioning the circumstances we'll face in the future is one of the most significant. It can lead to faulty assumptions that, in turn, can leave us unprepared for our later years. The good news is, if we realize early enough that we hold these false assumptions, we can change them and correct course so that we are financially secure in our later years.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F4-false-assumptions-that-could-threaten-your-retirement-years&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F4%2520False%2520Assumptions%2520That%2520Could%2520Threaten%2520Your%2520Retirement%2520Years.jpg&amp;description=4%20False%20Assumptions%20That%20Could%20Threaten%20Your%20Retirement%20Years"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/4%20False%20Assumptions%20That%20Could%20Threaten%20Your%20Retirement%20Years.jpg" alt="4 False Assumptions That Could Threaten Your Retirement Years" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/matt-bell">Matt Bell</a> of <a href="http://www.wisebread.com/4-false-assumptions-that-could-threaten-your-retirement-years">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/4-ways-to-protect-your-retirement-from-inflation">4 Ways to Protect Your Retirement From Inflation</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-ways-couples-are-shortchanging-their-retirement-savings">4 Ways Couples Are Shortchanging Their Retirement Savings</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-to-invest-in-stocks-past-age-50">7 Reasons to Invest in Stocks Past Age 50</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-questions-to-ask-before-you-start-claiming-your-social-security-benefits">5 Questions to Ask Before You Start Claiming Your Social Security Benefits</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/how-to-plan-for-a-forced-early-retirement">How to Plan for a Forced Early Retirement</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement adult children caregivers early retirement family health problems health savings accounts income inflation long term care insurance Wed, 10 Jan 2018 09:00:08 +0000 Matt Bell 2080478 at http://www.wisebread.com 5 Ways to Make Long-Term Care More Affordable http://www.wisebread.com/5-ways-to-make-long-term-care-more-affordable <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-ways-to-make-long-term-care-more-affordable" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/nothing_inspires_happiness_like_fresh_air.jpg" alt="Nothing inspires happiness like fresh air" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>A long life can be both a blessing and a financial burden. As our health inevitably declines over time, medical expenses can skyrocket. What follows are several ideas for keeping later-life health care costs under control.</p> <h2>1. Save for health care like you save for retirement</h2> <p>It's common for people to save for their retirement. Far less common is the habit of saving for future health care costs. And yet, a growing number of people have access to a triple tax-advantaged way to do just that &mdash; a health savings account. If you have a high-deductible health insurance policy, that's you. (See also: <a href="http://www.wisebread.com/how-an-hsa-could-help-your-retirement?Ref=seealso" target="_blank">How an HSA Could Help Your Retirement</a>)</p> <p>Money you contribute to such an account is tax-deductible, and assuming it's ultimately used for health care expenses, earnings and withdrawals are tax-free. If you don't spend all the money you contribute each year, the balance can be carried over from year to year. With some account providers enabling you to invest the money, you could build up quite a balance.</p> <p>That money could be used to help pay health care costs in your later years, including some expenses for long-term care, whether provided in your home or a nursing home. The money also could be used to pay the premiums for Medicare Parts A, B, C, and D, and at least a portion of long-term care insurance (LTCI) premiums.</p> <h2>2. Don't over-save</h2> <p>Headlines about later life health care costs can strike fear into your heart and wallet. According to a recent Fidelity Benefits Consulting study, a 65-year-old couple retiring in 2017 will need $275,000 to cover their health care costs throughout retirement &mdash; up from $260,000 for couples retiring in 2016. And that's just for <em>normal </em>older age health care; it doesn't include the cost of long-term care.</p> <p>But let's take a look past the headlines. Assuming a 20-year retirement, $275,000 works out to $1,146 per month. While people's health care costs vary widely, $1,146 is less than some families pay right now for high-deductible health insurance premiums plus monthly contributions to a health savings account.</p> <p>Instead of relying on headlines about <em>average </em>health care costs, estimate <em>your </em>later-life health care costs to make sure you aren't obsessively over-saving out of fear. You can go a long way toward that by getting some Medicare estimates. Pairing an Original Medicare plan with a Medigap policy or choosing a Medicare Advantage plan can take away a lot of uncertainty regarding out-of-pocket costs for deductibles and copays.</p> <h2>3. Purchase some long-term care coverage</h2> <p>One of the main reasons people end up in nursing homes is dementia, and one of the primary risk factors for getting dementia is a family history. If your parents or grandparents had it, it may be wise for you to pick up at least <em>some </em>long-term care insurance coverage.</p> <p>Just keep in mind that buying a long-term care insurance policy is not an all or nothing proposition. You could opt for enough coverage to take the sting out of long-term care costs, while still keeping your premiums manageable.</p> <p>Choosing a longer <em>elimination period </em>(how many days you have to be in a nursing home before benefits begin) will lower the cost of the policy. Other ways to save include opting for a lower daily benefit, a lower maximum benefit period (compare the costs of one, three, and five years as opposed to lifetime coverage), and doing so without inflation protection. (See also: <a href="http://www.wisebread.com/is-long-term-care-insurance-worth-it?ref=seealso" target="_blank">Is Long Term Care Insurance Worth It?</a>)</p> <h2>4. Buy a deferred annuity</h2> <p>The risk of getting Alzheimer's disease goes up with age. According to the Alzheimer's Association, 3 percent of people between ages 65 and 74 have the disease, whereas 32 percent of those over age 85 have it.</p> <p>One way to manage the financial risk of an age-related disease such as Alzheimer's is to purchase an advanced-life deferred annuity. With this product, you pay a relatively small lump sum premium now in order to secure a guaranteed monthly benefit down the road. For example, a 65-year-old may be able to pay $10,000 now in order to receive $575 per month beginning at age 80. By comparison, if a 65-year-old wanted that much per month right now via an <em>immediate </em>annuity, he or she may have to pay $100,000.</p> <h2>5. Move closer to adult children</h2> <p>One more idea for keeping long-term care costs down is to live near or with your adult children during your retirement, assuming they are in a position (and are willing) to help you. Living close to a caring relative can lessen your dependence on &mdash; and the cost of &mdash; outside help for long-term care.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F5-ways-to-make-long-term-care-more-affordable&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F5%2520Ways%2520to%2520Make%2520Long-Term%2520Care%2520More%2520Affordable.jpg&amp;description=5%20Ways%20to%20Make%20Long-Term%20Care%20More%20Affordable"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/5%20Ways%20to%20Make%20Long-Term%20Care%20More%20Affordable.jpg" alt="5 Ways to Make Long-Term Care More Affordable" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/matt-bell">Matt Bell</a> of <a href="http://www.wisebread.com/5-ways-to-make-long-term-care-more-affordable">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/the-best-age-to-buy-long-term-care-insurance">The Best Age to Buy Long-Term Care Insurance</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/a-simple-guide-to-planning-for-a-loved-ones-long-term-care">A Simple Guide to Planning For a Loved One&#039;s Long-Term Care</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-manage-a-family-members-finances-long-distance">How to Manage a Family Member&#039;s Finances Long Distance</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/why-saving-money-is-harder-today">Why Saving Money Is Harder Today</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-financial-steps-to-take-when-your-aging-parents-move-in">6 Financial Steps to Take When Your Aging Parents Move In</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance annuities assisted living costs elderly family health care long term care nursing homes retirement savings Wed, 13 Dec 2017 09:30:09 +0000 Matt Bell 2065226 at http://www.wisebread.com 8 Signs You're Making All the Right Moves for Retirement http://www.wisebread.com/8-signs-youre-making-all-the-right-moves-for-retirement <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-signs-youre-making-all-the-right-moves-for-retirement" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/piggybank_with_glasses.jpg" alt="Piggy bank with glasses" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>The 2017 Retirement Confidence Survey from the Employee Benefit Research Institute made a disheartening discovery; only six in 10 U.S. workers feel confident that they'll be able to retire comfortably. That means 40 percent think they won't.</p> <p>That's grim news. But you don't have to fall into this group if you're making the right financial moves to prepare for your after-work years.</p> <p>It can be tricky to know for sure how confident you should feel about your nest egg, but some key signs can indicate that you're on your way to building a happy and healthy retirement.</p> <h2>1. You've worked out the kind of retirement you want</h2> <p>The best way to prepare for retirement? You have to plan for it. This means knowing how you want to spend your after-work years. After all, if you plan on traveling the globe after retiring, you'll need plenty of money. If you instead plan to spend more time visiting your grandchildren, reading, or playing golf, you might not need to save quite as much.</p> <p>The key is to determine what kind of retirement you want long before it arrives. That way, you can financially plan for it. And if you're in a relationship, remember that both you and your partner have to agree, and prepare for, the retirement lifestyle that suits you both. (See also: <a href="http://www.wisebread.com/how-to-find-your-new-identity-after-retirement?ref=seealso" target="_blank">How to Find Your New Identity After Retirement</a>)</p> <h2>2. You've set a retirement age</h2> <p>Do you know when you want to retire? You should. That decision can have a huge impact on your finances once you leave the working world.</p> <p>If you were born between 1943 and 1954, your full retirement age is 66. If you were born after 1959, your full retirement age is 67. You can start claiming Social Security benefits once you turn 62. But if you wait until you hit full retirement age &mdash; or beyond &mdash; the money you receive each month will be far higher. In fact, if you start claiming your Social Security benefits at 62, your monthly payment will be lowered by 30 percent compared to how much you'd get at full retirement age.</p> <p>And if you can hang on until age 70, you'll collect a monthly benefit that is 132 percent of the monthly amount you would have received if you started claiming Social Security at full retirement age.</p> <p>There's nothing wrong with claiming your benefits early, if you've planned for this. But make sure you know how much money you'll need before retiring early. (See also: <a href="http://www.wisebread.com/5-questions-to-ask-before-you-start-claiming-your-social-security-benefits?ref=seealso" target="_blank">5 Questions to Ask Before You Start Claiming Your Social Security Benefits</a>)</p> <h2>3. You've made a retirement budget</h2> <p>Before you hit retirement age, it's important to determine how much money you expect to spend and receive each month once that steady paycheck has disappeared. This means it's time to create a monthly retirement budget.</p> <p>For income, you can include any pensions, Social Security payments, disability payments, rental income, or annuity income you plan on receiving. You can also include the amount of money you expect to draw from your retirement savings. For expenses, include everything that you'll spend money on each month, including groceries, eating out, mortgage, auto payments, health care expenses, and utility bills.</p> <p>Once you know how much you'll be spending and how much you'll be earning in retirement, you can better prepare for it. (See also: <a href="http://www.wisebread.com/heres-how-you-should-budget-your-social-security-checks?ref=seealso" target="_blank">Here's How You Should Budget Your Social Security Checks</a>)</p> <h2>4. You've paid off your debts</h2> <p>The best way to increase the odds of a happy retirement is entering your post-work years without any debt. That means paying off your credit cards, paying off your mortgage, and making sure you don't owe any money on your car once you've retired.</p> <p>Paying off debt isn't easy. It's why so many of us are struggling under mountains of credit card debt. Before your retirement hits, though, start funneling money toward your debt. The more you pay off, the less financial stress you'll face in retirement. (See also: <a href="http://www.wisebread.com/fastest-way-to-pay-off-10000-in-credit-card-debt?ref=seealso" target="_blank">The Fastest Way to Pay Off $10,000 in Credit Card Debt</a>)</p> <h2>5. You've maximized your retirement savings contributions</h2> <p>You should be contributing to an IRA, 401(k) plan, or a combination of both. But as retirement gets closer, make sure you are contributing the maximum amount to these retirement savings vehicles. Doing so will leave you with the greatest financial cushion for retirement.</p> <p>It might seem like a financial sacrifice to devote, say, 15 percent of your regular paycheck to a 401(k) account. But by saving that much, as opposed to 5 percent or 10 percent, you can dramatically increase the amount of money you'll have when retirement arrives. (See also: <a href="http://www.wisebread.com/10-signs-you-arent-saving-enough-for-retirement?ref=seealso" target="_blank">10 Signs You Aren't Saving Enough for Retirement</a>)</p> <h2>6. You're playing catch-up</h2> <p>Once you hit your 50th birthday, you can contribute even more money each year to your 401(k) plan or IRAs. Take advantage of this benefit to provide a late-in-life boost to your retirement savings.</p> <p>For the 2017 tax year, you are allowed to contribute up to a maximum of $18,000 in a 401(k) plan. But if you're 50 or older, you can make what are known as catch-up contributions and contribute an extra $6,000 &mdash; meaning that you can put a total of $24,000 into your 401(k) this year. For the 2018 tax year, 401(k) contribution limits will be raised to $18,500, which means those age 50 or older can contribute up to a total of $24,500 per year. (See also: <a href="http://www.wisebread.com/6-ways-meeting-the-2018-401k-contribution-limits-will-brighten-your-future?ref=seealso" target="_blank">6 Ways Meeting the 2018 401(k) Contribution Limits Will Brighten Your Future</a>)</p> <p>Traditional and Roth IRAs also have catch-up policies for investors 50 or older. For the 2017 tax year, you can contribute up to $5,500 in either form of IRA. But if you are 50 older, you can contribute an additional $1,000, meaning that you can save up to $6,500 this year in a Roth or traditional IRA. This will be remaining the same in the 2018 tax year.</p> <h2>7. You've prioritized your spending &mdash; even when it comes to your kids</h2> <p>It's not easy telling your kids no, even when both they and you are adults. But when it comes to saving for retirement, you might have to do just this.</p> <p>You might want to help your children pay for their college tuition. And hopefully, you've already saved for this. But if you didn't, you shouldn't be putting off saving for retirement to help your adult children pay for college.</p> <p>Your children have other options when it comes to college: They can find a less expensive school, attend community college for two years, or apply for loans and grants. If you can't afford to save for both retirement and your children's college tuition, you absolutely must put saving for retirement first.</p> <p>If you don't? You might just become a financial burden for your adult children when you can't afford to maintain a healthy retirement lifestyle. (See also: <a href="http://www.wisebread.com/are-you-ruining-your-retirement-by-spoiling-your-kids?ref=seealso" target="_blank">Are You Ruining Your Retirement by Spoiling Your Kids?</a>)</p> <h2>8. You've tinkered with your savings formula</h2> <p>Early in your working days, it's a sound strategy to invest in a riskier mix of stocks, bonds, and other investment vehicles. The potential rewards are higher, and you have more years to recoup whatever losses you might suffer from a potentially more volatile portfolio.</p> <p>But once you get closer to retirement, it's time to rebalance your investments to eliminate much of the risk. When you're 10 or five years from retirement, you want a safer investment mix because time is running short. You won't have as many years to recover from the downs that sometimes come with a high-risk, high-reward savings portfolio.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F8-signs-youre-making-all-the-right-moves-for-retirement&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F8%2520Signs%2520Youre%2520Making%2520All%2520the%2520Right%2520Moves%2520for%2520Retirement.jpg&amp;description=8%20Signs%20Youre%20Making%20All%20the%20Right%20Moves%20for%20Retirement"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/8%20Signs%20Youre%20Making%20All%20the%20Right%20Moves%20for%20Retirement.jpg" alt="8 Signs You're Making All the Right Moves for Retirement" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/8-signs-youre-making-all-the-right-moves-for-retirement">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/7-easiest-ways-to-catch-up-on-retirement-savings-later-in-life">7 Easiest Ways to Catch Up on Retirement Savings Later in Life</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/half-of-americans-are-wrong-about-their-retirement-savings">Half of Americans Are Wrong About Their Retirement Savings</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-face-4-ugly-truths-about-retirement-planning">How to Face 4 Ugly Truths About Retirement Planning</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-critical-401k-questions-you-need-to-ask-your-employer">8 Critical 401(k) Questions You Need to Ask Your Employer</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-roadblocks-to-retirement-and-how-to-clear-them">7 Roadblocks to Retirement (And How to Clear Them)</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement 401(k) contributions debt family full retirement age IRA nest egg saving money social security benefits Tue, 05 Dec 2017 09:00:07 +0000 Dan Rafter 2066271 at http://www.wisebread.com How to Find Your New Identity After Retirement http://www.wisebread.com/how-to-find-your-new-identity-after-retirement <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-find-your-new-identity-after-retirement" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/young_black_boy_embracing_grandfather.jpg" alt="Young black boy embracing grandfather" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Most people work for at least 35 years before they decide to retire. This provides ample time for a person's job to become one of the most stable parts of their identity.</p> <p>A lot of retirees end up feeling lost once their career is no longer part of their everyday life. Without the identity that their job provided them, they don't know who they are anymore. Some retirees end up going back to work, while others eventually find their way through to a fulfilling second act. If you are retiring or thinking about retiring, here are some ways to make the transition to your new life smoother. (See also: <a href="http://www.wisebread.com/6-things-you-might-do-on-your-first-day-of-retirement?ref=seealso" target="_blank">6 Things You Might Do on Your First Day of Retirement</a>)</p> <h2>1. Volunteer for your favorite nonprofit</h2> <p>Most of us have a nonprofit or two that we support and would love to do more for, if only there were time. Well, guess what? When you retire, you will finally have that time. Why not invest it in an organization that means something to you? You can volunteer at your local animal shelter, church, homeless shelter, or any other organization you've always wanted to offer a helping hand to.</p> <p>If you think you will miss your job or you have professional skills that you want to continue using, you can almost always find a way to use them in the nonprofit sector. Many retirees end up having a voice on the board of their favorite nonprofit, maintaining the books, or using their interpersonal skills to provide friendship and counsel to vulnerable populations, such as at-risk teens, elderly people, or refugees. If you have the interest, the skill, and the time, you can always find a place that needs what you're offering.</p> <h2>2. Focus on relationships</h2> <p>When life is busy, it can be hard to focus on relationships. As you look toward retirement, think about the relationships you want to invest more time in. Maybe you can finally take your spouse out to dinner every month, like you've wanted to do since you got married. Maybe you want to baby-sit your grandchildren once a week to develop a closer bond with them.</p> <p>Investing in relationships can be an adjustment at first, especially if the people around you aren't used to you having so much time available. If you persist, though, you may find that you get to know your loved ones better than you ever did before.</p> <h2>3. Find a part-time gig</h2> <p>Retirement is the perfect time to find a part-time job doing something you've always wanted to do. Maybe you adore animals, and now you finally have the time to put in a few hours a week at a boarding facility. If you love plants, you can probably find part-time work at your local nursery. If antiques have always been your hobby, look for work at a shop or auction house.</p> <p>See this as an opportunity to explore interests that you couldn't explore before. If you're truly interested, willing to learn, and humble, you can find work where you can learn about almost anything. (See also: <a href="http://www.wisebread.com/6-cool-jobs-for-retirees?ref=seealso" target="_blank">6 Cool Jobs for Retirees</a>)</p> <h2>4. Follow your dreams</h2> <p>Most of us have things we've always wanted to do but just couldn't get into because of the time involved. Retirement is the perfect chance to pursue these opportunities. Think about taking up an instrument, learning to paint, or finally getting that degree you've always put off pursuing. You may even want to start a small business or look at selling something that you make on the side.</p> <p>Remember that you're never too old to start or learn something new. Whatever it is that you have always wanted to know, do, or be, you have the chance to pursue that after retirement, as long as you don't stand in your own way.</p> <h2>5. Look for open doors</h2> <p>One of the best things about being retired is that you can do what you want, when you want. You can also change course at any time if something isn't working out the way you wanted it to. This means that there's no reason not to go after something, even if it doesn't end up working out. Because you have freedom with your time, you can go through any and all of the doors that open to you, since you can always change your mind later.</p> <p>If you aren't sure what to pursue after retirement, keep an open mind. Try to see everything around you as a potential opportunity. When a door opens or an offer is made, walk through it. If it doesn't work out, something else will come along eventually.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-to-find-your-new-identity-after-retirement&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520to%2520Find%2520Your%2520New%2520Identity%2520After%2520Retirement%2520%25281%2529.jpg&amp;description=How%20to%20Find%20Your%20New%20Identity%20After%20Retirement"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20to%20Find%20Your%20New%20Identity%20After%20Retirement%20%281%29.jpg" alt="How to Find Your New Identity After Retirement" width="250" height="374" /></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/how-to-find-your-new-identity-after-retirement">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/im-financially-free-now-what">I&#039;m Financially Free. Now What?</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/what-to-do-if-youre-laid-off-before-you-retire">What to Do if You&#039;re Laid Off Before You Retire</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-travel-full-time-for-17000-a-year-or-less">How to Travel Full-Time for $17,000 a Year (or Less!)</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/11-simple-rules-of-excellent-houseguest-etiquette">11 Simple Rules of Excellent Houseguest Etiquette</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/30-great-side-jobs">30 Great Side Jobs</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle Retirement family hobbies identity crisis part-time jobs relationships self improvement volunteering Mon, 27 Nov 2017 10:00:06 +0000 Sarah Winfrey 2057595 at http://www.wisebread.com 8 Reasons to Skip the Big Holiday Dinner This Year http://www.wisebread.com/8-reasons-to-skip-the-big-holiday-dinner-this-year <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-reasons-to-skip-the-big-holiday-dinner-this-year" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/unhappy_boy_stands_before_chistmas_tree.jpg" alt="Unhappy boy stands before chistmas tree" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It's something you feel like you just can't avoid, and so you do it every year. The big holiday dinner. The one that, supposedly, everyone looks forward to. But do they really? Do you? For some, it can be an awful lot of stress. For others, the thought of those two particular family members in the same house, at the same time, is unbearable. Here's a reminder of why the holidays aren't always festive, and why you might consider opting out. (See also: <a href="http://www.wisebread.com/8-ways-to-actually-relax-over-the-holidays?ref=seealso" target="_blank">8 Ways to Relax Over the Holidays</a>)</p> <h2>1. Do you really need two big dinners in two months?</h2> <p>Let's start with the most obvious reason to skip the big holiday this year &hellip; there's more than one of them.</p> <p>Most Americans celebrate Thanksgiving, followed a month later by either Christmas or Hanukkah. Each one of those holidays is accompanied by a gathering of family and friends around some kind of feast. Why not skip one of them and put all the effort into the most important holiday for your family. When it comes to Christmas, people are so busy opening gifts and playing with toys that the additional feast on top can be a real strain. And with plenty of eateries open throughout the holiday season, you can either pop out for a meal, order in, or make something quick and easy. After all, it's not really about the food, it's the company. (See also: <a href="http://www.wisebread.com/6-alternative-ways-to-do-thanksgiving?ref=seealso" target="_blank">6 Alternative Ways to Do Thanksgiving</a>)</p> <h2>2. The clean up afterward is a pain</h2> <p>Large metal trays filled with grease. Pans caked in potatoes and gravy. A mountain of dirty plates, cups, and utensils. You're going to be at the sink for hours doing all the rinsing, scraping, and preparation for the dishwasher. And even then, the chances of getting it all in one dishwasher load are slim. That means you'll be back for a second round, after putting away the dishes from the first round. (See also: <a href="http://www.wisebread.com/10-tricks-to-keeping-your-kitchen-clean-while-you-cook?ref=seealso" target="_blank">10 Tricks to Keeping Your Kitchen Clean While You Cook</a>)</p> <h2>3. The preparation takes days</h2> <p>Right now, if you're celebrating Thanksgiving this year, you're already making plans for the big dinner. You have ideas of what you're going to make, and what the other guests will be bringing. There will be countless trips to the grocery store. You'll have to get that turkey brined if you don't want it to be as dry as a mouthful of sawdust. And let's not forget about the scheduling to make sure everyone gets their dishes into the oven at the right time, and everything gets onto the table when it's hot. There is a monumental amount of prep work involved in a dinner of this magnitude, and it can get even worse with issues like gluten sensitivities and other food allergies. (See also: <a href="http://www.wisebread.com/you-can-throw-a-fun-and-affordable-holiday-party-heres-how?ref=seealso" target="_blank">You Can Throw a Fun and Affordable Holiday Party &mdash; Here's How</a>)</p> <p>Who needs that kind of headache?</p> <h2>4. Who needs a political debate?</h2> <p>After a certain Donald J. Trump won a divisive election against Hillary Clinton, America has become fanatical about taking sides. Yes, politics is important to discuss to a degree, but should it break up families and cause screaming matches? The chances are, the more people you have in the room, the more heated the conversation will be. Fights are inevitable, even if you have a &quot;no politics&quot; rule at the table. So, skip the big dinner, and make it a more casual affair. Perhaps a buffet people can pick at during the day will make it easier to avoid certain topics &mdash; and certain grumpy uncles. (See also: <a href="http://www.wisebread.com/6-conversation-tricks-thatll-get-you-out-of-a-political-discussion?ref=seealso" target="_blank">6 Conversation Tricks That'll Get You Out of a Political Discussion</a>)</p> <h2>5. So many calories!</h2> <p>We all joke about it to some extent. &quot;Oh man&hellip;I am going to eat so much on Thanksgiving that I will literally turn into a giant pumpkin.&quot; However, there is a serious side to this. According to the Calorie Control Council, the typical holiday dinner alone clocks in at a whopping 3,000 calories! That's not including all the snacks, drinks, cakes, sweets, and other goodies people consume throughout the day. And let's not forget, those Thanksgiving dinner recipes rarely include the healthy options. It's all butter, heavy cream, bacon, fat, and other artery-clogging foods. The Calorie Control Council states that on the day, the average person will eat enough fat to equal three whole sticks of butter. Holy heart attack, Batman. (See also: <a href="http://www.wisebread.com/6-vegetarian-thanksgiving-dishes-that-hold-their-own-with-turkey?ref=seealso" target="_blank">6 Vegetarian Thanksgiving Dishes That Hold Their Own With Turkey</a>)</p> <h2>6. There's no room to store anything</h2> <p>When you start prepping for the big day, you realize that space is a premium that's consumed by a holiday dinner. The turkey alone can take up an enormous part of the fridge. Then there are all the extra fruits and vegetables, the cakes and pies, and enough snacks and candies to make the pantry door swell. You come home one day to find boxes of cookies overflowing onto the counters and the dining room table. You have to eat a bunch of food quickly to make space for more food that will be eaten on the big day. And get ready for that space to continue to be tight after the event, with all the leftovers and extra treats that people were too full to even touch.</p> <h2>7. Not everyone loves big holiday events</h2> <p>Like anything else in life, people have different ideas on what makes for a fun, entertaining event. For some people, these dinners are the opposite of happy. They may simply hate large gatherings. Or, they may be avoiding certain people for any number of reasons, only to be forced to sit around the same table with them for an evening. They may have other reasons, like the cost to attend, or the fact that they would much prefer to do something more intimate with just their immediate family. Why not send out a survey, that can be answered anonymously, asking the people you were planning to invite if that actually want to do it this year. You may be surprised at the results. (See also: <a href="http://www.wisebread.com/8-friendsgiving-hacks-thatll-make-everyone-feel-at-home?ref=seealso" target="_blank">8 Friendsgiving Hacks That'll Make Everyone Feel at Home</a>)</p> <h2>8. Getting there can be expensive</h2> <p>The average cost of a Thanksgiving dinner that feeds 10 people is around $50, according the American Farm Bureau Federation. That's a bargain right?! Well, that's the cost of dinner, and yes, it's cheap at $5 a head. However, the biggest expense for the holiday dinner for many people is the travel. Not every family is lucky enough to live 20 minutes from their relatives. Some have to drive across the country, staying in hotels and paying for many tanks of gas. Others fly, which as we all know includes not just the price of the ticket, but the baggage, seat selection, and check-in. If there is not enough room at the house, these people also have to shell out for hotel rooms, and perhaps a rental car. It's perfectly OK to let your family and friends know that you're watching your money this year, and cannot come. (See also: <a href="http://www.wisebread.com/11-ways-to-save-money-on-holiday-travel?ref=seealso" target="_blank">11 Ways to Save on Holiday Travel</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F8-reasons-to-skip-the-big-holiday-dinner-this-year&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F8%2520Reasons%2520to%2520Skip%2520the%2520Big%2520Holiday%2520Dinner%2520This%2520Year.jpg&amp;description=8%20Reasons%20to%20Skip%20the%20Big%20Holiday%20Dinner%20This%20Year"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/8%20Reasons%20to%20Skip%20the%20Big%20Holiday%20Dinner%20This%20Year.jpg" alt="8 Reasons to Skip the Big Holiday Dinner This Year" width="250" height="374" /></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/8-reasons-to-skip-the-big-holiday-dinner-this-year">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/15-cheap-and-delicious-punch-recipes-for-holiday-parties">15 Cheap and Delicious Punch Recipes for Holiday Parties</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-easy-ways-to-give-back-this-thanksgiving">7 Easy Ways to Give Back This Thanksgiving</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-vegetarian-thanksgiving-dishes-that-hold-their-own-with-turkey">6 Vegetarian Thanksgiving Dishes That Hold Their Own With 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/8-ways-to-actually-relax-over-the-holidays">8 Ways to Actually Relax Over the Holidays</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/14-festive-and-easy-diy-holiday-decorations">14 Festive and Easy DIY Holiday Decorations</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Food and Drink Christmas etiquette family holiday meals Holidays manners Thanksgiving Thu, 16 Nov 2017 09:00:06 +0000 Paul Michael 2054953 at http://www.wisebread.com Beyond Disney: 8 Affordable Family Destinations in the US http://www.wisebread.com/beyond-disney-8-affordable-family-destinations-in-the-us <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/beyond-disney-8-affordable-family-destinations-in-the-us" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/it_is_a_piggyback_horserace.jpg" alt="It&#039;s a piggyback horserace" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>While some kids have a unique bucket list of travel dreams and goals, nearly every child dreams of going to Disney World one day. For many kids &mdash; and many families &mdash; Disney is a box that must be checked off no matter the cost or the inconvenience involved.</p> <p>But, with Disney World tickets approaching $100 per person, per day, many families can't justify the cost. This is especially true if you need to fly to the park, since even domestic airfare can add an extra $300&ndash;$500 per person to the cost of your trip.</p> <p>Fortunately, there is an array of other family-friendly destinations just waiting to be discovered all over the United States. If you're planning a fun trip with your kids but want to spend less than you would at Disney World, consider these affordable vacation spots all over the country.</p> <h2>1. Orlando, Florida</h2> <p>Sure, Orlando is home to Disney World, but that's not all. This southern city is actually bursting with affordable things to do and see that have little to do with Mickey Mouse or Donald Duck.</p> <p>For starters, you'll find plenty of non-Disney parks, including Fun Spot America Theme Park and Aquatica Orlando Water Park, both of which are less than $50 per person, per day to visit. Also keep in mind that the Disney Springs district (formerly Downtown Disney), which features plenty of Disney stores and attractions, is free to visit even if you're not going to one of the parks. You'll also find numerous non-park attractions in Orlando, including a wax museum, the Orlando Science Center, and Ripley's Believe It Or Not.</p> <p>The best part about Orlando is that there is a nearly endless supply of affordable hotel and condo options. Not only can you book a three-bedroom Orlando condo for less than $99 per night, but three-star hotel properties around the city start at just $50 per night. (See also: <a href="http://www.wisebread.com/8-affordable-amusement-parks-that-are-just-as-fun-as-disney" target="_blank">8 Affordable Amusement Parks That Are Just as Fun as Disney</a>)</p> <h2>2. Santa Claus, Indiana</h2> <p>While Santa Claus, Indiana probably sounds obscure (and it kind of is!), this tiny town is actually home to Holiday World &amp; Splashin' Safari &mdash; a theme park/water park that was recently named number four in the nation and number 13 in the world. The big difference is, instead of Disney's $100 per person ticket price, a day at Holiday World starts at just $27.99 per person. You also get free sunscreen, soft drinks, parking, and Wi-Fi, making it easy to save even more.</p> <p>But, there's other stuff to do in Santa Claus, including Santa's Candy Castle (a sweets shop), Santa's Stables (horseback riding), golf courses, and a berry farm. You can also pitch a tent affordably at Lake Rudolph Campground &amp; RV Resort, or book a local two-star or three-star hotel for as little as $56 per night in October. (See also: <a href="http://www.wisebread.com/the-easiest-ways-to-save-on-your-next-rv-camping-trip" target="_blank">Easiest Ways to Save on Your Next RV Camping Trip</a>)</p> <h2>3. San Diego, California</h2> <p>San Diego is well-known for its year-round perfect weather, its beautiful beaches, and its endless bounty of things to do. You can visit the famous San Diego Zoo, check out the USS Midway Museum, explore Balboa Park, or enjoy a beach day in nearby (and famous) La Jolla.</p> <p>While California is an expensive state to visit overall, San Diego can be surprisingly affordable. For example, you can book an overnight at a downtown hotel this October for as little as $70 per night. Heck, even the Wyndham Garden San Diego near Sea World can be booked for as little as $83 per night this fall. (See also: <a href="http://www.wisebread.com/10-affordable-water-parks-you-can-drive-to" target="_blank">5 Most Affordable Cruise Lines for Families</a>)</p> <h2>4. Branson, Missouri</h2> <p>Branson is known for its honky-tonk music and over-the-top shows, but that's not all. The city is also home to a range of family-friendly activities to please kids (and parents) of all ages. You can check out an inexpensive country or Broadway-style show, visit the famed Titanic Museum, or ride rides at Silver Dollar City theme park or take on the Runaway roller coaster at Branson Mountain Adventure Park.</p> <p>Branson hosts a wide range of lodging options, many of which have amazing pools and on-site entertainment of their own. You can book a nightly stay at Castle Rock Resort &amp; Waterpark this fall for as little as $69 per night. (See also: <a href="http://www.wisebread.com/family-friendly-hotel-and-resort-chains-where-kids-stay-free" target="_blank">Family-Friendly Hotel and Resort Chains Where Kids Stay Free</a>)</p> <h2>5. Grand Canyon</h2> <p>The Grand Canyon is a natural wonderland with jaw-dropping scenery and ample opportunities for outdoor recreation. Depending on where you stay near the Grand Canyon, you can find hiking, white-water rafting, and waterfalls to explore.</p> <p>The Grand Canyon Skywalk allows your family to walk over the expansive canyon without fear, while the historic Grand Canyon Railway offers a fun way to see the area without too much work.</p> <p>Amazingly, you can book a four-star hotel in Flagstaff for as little as $120 per night this fall, or a simple room at Country Inn &amp; Suites for as little as $99.</p> <h2>6. South Dakota</h2> <p>South Dakota is constantly overlooked as a top travel destination, which is a shame. Taking your kids to South Dakota is both a walk through time and a celebration of our country's natural beauty. Not only is the state home to historic Mt. Rushmore, but it offers the scenic Badlands National Park, Black Hills National Forest, and quirky spots like the Corn Palace and Wall Drug Store.</p> <p>South Dakota is perfect for a family RV or camping trip, or as part of an extensive road trip across the northern states. Hotels in Wall start at about $70 per night, while lodging in cities like Keystone starts at just $50 per night.</p> <p>Even some of the pricier hotels in the state are rather affordable. A night's stay at the three-star Black Forest Inn Bed &amp; Breakfast, for example, will set you back just $160 per night this fall.</p> <h2>7. Myrtle Beach, South Carolina</h2> <p>Myrtle Beach, South Carolina is beautiful indeed, but it doesn't get enough credit as an affordable beach destination. Believe it or not, you can book an oceanfront condo for as little as $700 per week this fall. Oceanfront hotels like Bar Harbor start at just $44 per night. If you want something fancier, even the Embassy Suites on the Myrtle Beach oceanfront can be booked for as little as $219 per night.</p> <p>While the beach will keep everyone in your group busy, there is plenty of other stuff to do when you tire of the sand and surf. For example, Myrtle Beach is home to several small amusement parks and water parks, plus a state park and a Ripley's Aquarium. (See also: <a href="http://www.wisebread.com/10-affordable-water-parks-you-can-drive-to" target="_blank">10 Affordable Water Parks You Can Drive To</a>)</p> <h2>8. Gatlinburg, Tennessee</h2> <p>Gatlinburg, Tennessee sits in a beautiful setting among the gorgeous Great Smoky Mountains. The area is known for its mountain scenery, outdoor recreation like hiking and climbing, and a family-friendly atmosphere with plenty to do and see.</p> <p>For example, you'll find the Ripley's Aquarium of the Smokies, which features over 10,000 exotic sea creatures from all over the world. You can also enjoy the Great Smoky Mountains National Park in all its glory, dozens of breweries and mom n' pop diners, and shopping. Dollywood, an Appalachian-themed family park, is also just 20 minutes away in nearby Pigeon Forge.</p> <p>Both Gatlinburg and Pigeon Forge are affordable spots for families as well, with three-star hotels starting at just $109 per night this fall during peak leaf-changing season.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fbeyond-disney-8-affordable-family-destinations-in-the-us&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F8%2520Affordable%2520Family%2520Destinations%2520in%2520the%2520US.jpg&amp;description=8%20Affordable%20Family%20Destinations%20in%20the%20US"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/8%20Affordable%20Family%20Destinations%20in%20the%20US.jpg" alt="8 Affordable Family Destinations in the US" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/holly-johnson">Holly Johnson</a> of <a href="http://www.wisebread.com/beyond-disney-8-affordable-family-destinations-in-the-us">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-5"> <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-affordable-water-parks-you-can-drive-to">10 Affordable Water Parks You Can Drive To</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/family-friendly-hotel-and-resort-chains-where-kids-stay-free">Family-Friendly Hotel and Resort Chains Where Kids Stay Free</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-money-lessons-i-learned-from-three-weeks-in-europe">8 Money Lessons I Learned From Three Weeks in Europe</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/10-little-known-secrets-to-saving-money-on-your-next-cruise">10 Little-Known Secrets to Saving Money on Your Next Cruise</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/how-families-can-earn-and-use-travel-rewards">How Families Can Earn and Use Travel Rewards</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Travel affordable children family grand canyon kid friendly kids orlando san diego theme parks united states vacation Mon, 25 Sep 2017 08:30:10 +0000 Holly Johnson 2025391 at http://www.wisebread.com How Families Can Earn and Use Travel Rewards http://www.wisebread.com/how-families-can-earn-and-use-travel-rewards <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-families-can-earn-and-use-travel-rewards" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/family_looking_out_window_at_airport.jpg" alt="Family looking out window at airport" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>When it comes to travel rewards, families have different needs than single travelers and couples. For example, families are typically less flexible than other travelers, as they need to work their vacations around school schedules. Families also tend to go to popular vacation destinations during peak travel seasons, while others may be more interested in out-of-the-way destinations. And obviously, families tend to travel in larger groups than singles or couples.</p> <p>So, if you need to earn rewards that you can use toward a family vacation, consider these award travel strategies. (See also: <a href="http://www.wisebread.com/how-to-use-miles-and-points-for-a-big-award-trip?ref=seealso" target="_blank">How to Use Miles and Points for a Big Award Trip</a>)</p> <h2>The Southwest plan</h2> <p>Southwest Airlines is an <a href="http://www.wisebread.com/why-southwest-airlines-is-the-best-domestic-airline-for-families?ref=internal" target="_blank">ideal carrier for family travelers</a>. It offers two free checked bags for everyone, and it doesn't impose fees for changing your reservation once you've purchased tickets. It also features early boarding for families with young children, and an open seating policy that makes it easy for families to ensure that they are sitting together.</p> <p>Southwest also offers the Companion Pass, which lets you book a second extra ticket at no charge (other than taxes), on every flight including award tickets. To receive a Companion Pass, you need to earn 110,000 points within a single calendar year. Fortunately, Southwest offers various credit cards that help you get there. The pass can significantly cut your family's travel costs for the year.</p> <h2>Earn miles that can be redeemed as travel statement credits</h2> <p>The problem that most families have with traditional frequent flyer programs is that awards are seldom available at the lowest mileage levels. This is especially true at peak travel times when families travel, and for groups of three or more.</p> <p>Therefore, the best way for families to earn award travel is to use a credit card that offers miles that can be redeemed as statement credits toward any travel reservations. These <a href="http://www.wisebread.com/top-5-travel-reward-credit-cards?ref=internal" target="_blank">travel rewards credit cards</a> allow you to book your own travel (flights, hotel, car rentals, cruises, tours, and more) on any booking site you prefer, and then use your points toward those purchases. This gives families the most flexibility in terms of being able to use their hard earned travel rewards for an actual trip. (See also: <a href="http://www.wisebread.com/best-credit-cards-with-easy-travel-redemption?ref=seealso" target="_blank">Best Credit Cards With Easy Travel Redemption</a>)</p> <h2>Earn points that can be transferred to different frequent flyer and hotel programs</h2> <p>Another great award travel strategy for families is to earn flexible <a href="http://www.wisebread.com/5-best-credit-cards-that-transfer-points-to-airline-miles?ref=internal" target="_blank">rewards that can be transferred to numerous travel partners</a>. This gives you the ability to earn points on your credit card without having to commit to a particular airline or hotel chain.</p> <p>Cards in this category may allow you to rack up points, and then transfer them when you're ready to use one of several popular airline or hotel rewards programs. While travel statement credits are even more flexible, with those programs your points are usually worth about 1 cent a piece. You can often get a better rate when you transfer to, say, an airline program and book an expensive flight. (See also: <a href="http://www.wisebread.com/comparing-miles-which-airline-loyalty-program-is-better?ref=seealso" target="_blank">Which Airline Rewards Program Has the Best Value for Their Miles?</a>)</p> <h2>Be flexible with travel plans and expectations</h2> <p>Redeeming travel rewards for a trip is not for the faint of heart. While going with the flexible redemption option allows you the most freedom to plan a trip according to your precise preferences, being flexible with your plans will give you the most <em>value</em> out of your hard earned rewards. This means that if you want to get the largest discount off your trip, you'll want to identify the destinations and resorts that are available under that travel program. You might not get the exact hotel you want, or even visit the exact city that you want, but if you can be flexible and open minded, even a large family can take advantage of travel rewards and redeem them for an amazing vacation. (See also: <a href="http://www.wisebread.com/6-tricks-to-making-the-most-of-your-reward-miles?ref=seealso" target="_blank">5 Tricks to Making the Most of Your Reward Miles</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-families-can-earn-and-use-travel-rewards&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520Families%2520Can%2520Earn%2520and%2520Use%2520Travel%2520Rewards.jpg&amp;description=How%20Families%20Can%20Earn%20and%20Use%20Travel%20Rewards"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20Families%20Can%20Earn%20and%20Use%20Travel%20Rewards.jpg" alt="How Families Can Earn and Use Travel Rewards" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/jason-steele">Jason Steele</a> of <a href="http://www.wisebread.com/how-families-can-earn-and-use-travel-rewards">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/12-expert-tips-for-redeeming-miles-for-free-travel">12 Expert Tips for Redeeming Miles for Free Travel</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/9-ways-to-use-travel-rewards-cards-to-get-free-trips">How to Use Travel Rewards Cards to Get Free Trips</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/the-best-airline-rewards-programs-for-trips-to-europe">The Best Airline Rewards Programs for Trips to Europe</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/once-in-a-lifetime-experiences-ive-earned-with-credit-card-rewards">Once-In-A-Lifetime Experiences I&#039;ve Earned With Credit Card Rewards</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/which-credit-card-should-you-use-to-get-free-hotel-stays">Which Credit Card Should You Use to Get Free Hotel Stays?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Credit Cards Travel airlines awards family frequent flyers hotels miles points rewards tickets trips vacation Fri, 15 Sep 2017 08:30:05 +0000 Jason Steele 2020048 at http://www.wisebread.com 8 Money Lessons I Learned From Three Weeks in Europe http://www.wisebread.com/8-money-lessons-i-learned-from-three-weeks-in-europe <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-from-three-weeks-in-europe" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/kids_tourists_smiling_at_the_camera_near_eiffel_tower.jpg" alt="Kids tourists smiling at the camera near Eiffel Tower" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>In early June, my husband and I took a bucket list trip to Europe with our kids. While we've visited countless countries worldwide as a couple, this was our first &quot;big trip&quot; with our daughters, ages six and eight. In addition to the four of us, we took a family caregiver to help with the kids and give Mom and Dad a break. Over the course of 19 days, we spent time in Germany, Italy, and Switzerland. The entire ordeal was exhausting, but it was an absolute blast!</p> <p>Fortunately, we planned far enough ahead that we didn't spend too much out of pocket while we were there. By leveraging <a href="http://www.wisebread.com/top-5-travel-reward-credit-cards?ref=internal" target="_blank">travel rewards credit cards</a> and setting a daily spending budget, we were able to get the entire trip, which would normally cost $20,000 retail, for around $3,500. (See also: <a href="http://www.wisebread.com/5-steps-to-getting-a-free-or-close-to-free-vacation-in-9-months-or-less-with-credit-cards?ref=seealso" target="_blank">5 Steps to Getting a Free (or Close to Free) Vacation with Credit Cards</a>)</p> <p>In addition to the virtues of planning ahead as a savings strategy, we learned numerous financial lessons during our travels. While we were aware of most of these lessons already, seeing the world through our children's eyes served as the perfect reminder of the reasons behind some of our most important financial decisions.</p> <p>Here are a few lessons we relearned thanks to our trip abroad.</p> <h2>1. Failing to plan means planning to fail</h2> <p>One of the most expensive components of our trip was dining, mostly because there were five people in our group. No matter how cheaply you try to eat, feeding five people three meals a day means your food budget adds up quickly.</p> <p>While we tried to minimize our food costs by eating breakfast in our condo and searching for budget options, there were times where we didn't plan ahead and paid a steep price for our lack of preparation.</p> <p>One meal in particular stands out. We traveled by train to Rome in the morning and arrived in early afternoon without researching restaurants or stores in the immediate area. In a tired and hungry daze, we entered the first restaurant we walked past near Piazza Navona.</p> <p>Unfortunately, we paid big time for this oversight. Not only was the food overly touristy (pictures on the menu &mdash; blech), but our lunch set us back nearly $90. If we had searched ahead of time, we would have known we could have found much cheaper (and probably tastier) options had we walked a block in the other direction. (See also: <a href="http://www.wisebread.com/4-secrets-to-eating-great-food-for-cheap-while-traveling?ref=seealso" target="_blank">4 Secrets to Eating Great Food for Cheap While Traveling</a>)</p> <h2>2. Expensive does not equal better</h2> <p>That meal also served as a reminder that expensive isn't always better. We paid $90 for a lunch that was mediocre at best on that particular day, but at other times we enjoyed meals that were absolutely delicious and downright cheap.</p> <p>One that comes to mind was a meal we had in nearby Florence, Italy. In order to keep our food budget under control, we started researching local restaurants once we arrived. Eventually, we stumbled upon a sandwich shop &mdash; Panini Toscani &mdash; that was uber-cheap but was also the third highest rated restaurant in Florence.</p> <p>We wound up eating there twice. The food was delicious and convenient, and our total meal for five people was less than $20 both times.</p> <h2>3. Even budget trips can be fun</h2> <p>By the time we got to Switzerland (our last stop), I was pretty tired of spending money in general. So, when we had our final &quot;free day&quot; in the country, I spent some time looking for something fun and affordable to do. (See also: <a href="http://www.wisebread.com/7-countries-where-you-can-travel-on-30-a-day-or-less?ref=seealso" target="_blank">7 Countries Where You Can Travel on $30 a Day or Less</a>)</p> <p>Eventually, I remembered a town we drove by that had the most beautiful, clear-green lake I had ever seen. After looking up the details, I found that the tiny village of Lungern had a public beach and a few waterslides with a daily admission cost of about $5.25 per adult.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5197/man_jumping_in_a_lake.jpg" width="605" height="454" alt="" /></p> <p>This relatively cheap day was probably the most fun we had. All of us swam and rode waterslides the entire day, stopping only to have a low-cost lunch.</p> <p>It just goes to show that budget travel can absolutely be fun, and that you don't have to spend a ton of money to enjoy yourself.</p> <h2>4. There's more than one &quot;right way&quot; to do things</h2> <p>One of the most rewarding components of travel is watching my kids react to the many ways other countries handle things differently. My kids were obsessed with euros, for example. They couldn't understand why anyone would choose to offer two euros in the form of a coin.</p> <p>I also had to explain why we didn't tip as much as we normally do. Since workers in Europe are paid higher wages, you don't have to tip 15&ndash;20 percent like you do in the states.</p> <p>While we could argue all day over which way is better, I told my kids there is more than one &quot;right way&quot; to do things sometimes. (See also: <a href="http://www.wisebread.com/7-countries-where-you-dont-have-to-tip-at-restaurants?ref=seealso" target="_blank">7 Countries Where You Don't Have to Tip at Restaurants</a>)</p> <h2>5. We actually need very little</h2> <p>While I wasn't sure we could pull it off, we made it through the entire trip with just carry-on luggage and two school-sized backpacks of stuff. It helped that one of our condos had a washing machine, but I was still amazed we enjoyed ourselves without many comforts from home.</p> <p>This just goes to show that most of us don't need a lot to be happy. We need clothes, food, and shelter, but everything else is optional. We can be happy and content without having a bunch of stuff to bog us down.</p> <h2>6. Most people are honest, but not everyone</h2> <p>Most of the people we dealt with abroad were both kind and honest &mdash; except for a couple of small incidences. First, we encountered a taxi driver who tried to charge us $28 (instead of running his meter) to take us four blocks in Rome. Not only was this outrageous since we'd paid $7 for the same ride earlier that day, but it was illegal for him to do this since the city of Rome regulates official taxis.</p> <p>Second, when we got home from the trip, we received a fraud alert from Chase. Apparently, someone had swiped our card information and tried to make a purchase in Peru.</p> <p>This kind of stuff happens no matter where you are, so it's important to always stay vigilant. (See also: <a href="http://www.wisebread.com/7-ways-to-protect-yourself-from-theft-while-traveling?ref=seealso" target="_blank">7 Ways to Protect Yourself From Theft While Traveling</a>)</p> <h2>7. Exchange rates matter</h2> <p>Whenever I travel abroad, I almost always struggle to keep track of the currency exchange rate and how it affects everything we buy. But, since a single U.S. dollar is currently worth just .87 euros, this is an important detail to keep in mind. If something costs 10 euros, for example, you're actually paying $11.55.</p> <p>While I used a <a href="http://www.wisebread.com/smarter-security-and-no-foreign-transaction-fees-the-best-credit-cards-to-use-while-on-vacation?ref=internal" target="_blank">credit card with no foreign transaction fees</a> to pay most of our expenses, I tried hard to impart this lesson on our kids. No matter where you are in the world, chances are good the money isn't worth the same as at home. And, if you don't pay attention, you could wind up spending a lot more than you think!</p> <h2>8. Some experiences are worth the money, even if they're expensive</h2> <p>While we definitely saved a bundle on this trip due to the way we leveraged credit card rewards, we still spent $3,500 of our hard-earned dollars. On top of that, I probably spent 30&ndash;50 hours planning not only our credit card rewards strategy, but our hotels, flights, and trains.</p> <p>The thing is, I don't regret a single cent &mdash; or a single second. Over my lifetime, I've learned that some experiences are worth the money and the time, even if it seems like a lot.</p> <p>It's hard to put a price tag on a fun family trip that exposed us to cultures in a completely different part of the world. I believe it was priceless. Some memories are worth saving up to splurge on. (See also: <a href="http://www.wisebread.com/how-to-build-your-best-travel-budget?ref=seealso" target="_blank">How to Build Your Best Travel Budget</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F8-money-lessons-i-learned-from-three-weeks-in-europe&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F8%2520Money%2520Lessons%2520I%2520Learned%2520From%2520Three%2520Weeks%2520in%2520Europe.jpg&amp;description=8%20Money%20Lessons%20I%20Learned%20From%20Three%20Weeks%20in%20Europe"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/8%20Money%20Lessons%20I%20Learned%20From%20Three%20Weeks%20in%20Europe.jpg" alt="8 Money Lessons I Learned From Three Weeks in Europe" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/holly-johnson">Holly Johnson</a> of <a href="http://www.wisebread.com/8-money-lessons-i-learned-from-three-weeks-in-europe">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/once-in-a-lifetime-experiences-ive-earned-with-credit-card-rewards">Once-In-A-Lifetime Experiences I&#039;ve Earned With Credit Card Rewards</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-families-can-earn-and-use-travel-rewards">How Families Can Earn and Use Travel Rewards</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/amazing-destinations-you-can-go-to-with-rewards-points-and-miles">Amazing Destinations You Can Go to With Rewards Points and Miles</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/the-best-airline-rewards-programs-for-trips-to-europe">The Best Airline Rewards Programs for Trips to Europe</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/10-frugal-fall-getaways-you-can-start-packing-for-now">10 Frugal Fall Getaways You Can Start Packing For Now</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Travel Europe exchange rates experiences family food costs money lessons rewards vacation Wed, 23 Aug 2017 08:30:11 +0000 Holly Johnson 2007686 at http://www.wisebread.com 6 Money Problems Our Grandparents Never Had http://www.wisebread.com/6-money-problems-our-grandparents-never-had <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-money-problems-our-grandparents-never-had" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/social_worker_is_visiting_a_senior_woman.jpg" alt="Social worker is visiting a senior woman" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Life has changed quite a bit over the past 75 years. Sometimes, it's hard for us to think about what life was like for our grandparents and great-grandparents all those years ago. This can be especially true when it comes to money.</p> <p>Financial problems are not immune to changing times. As the times have changed, so have the issues and challenges we've had to deal with. While our grandparents and great-grandparents surely had their share of financial problems, there are some they simply never had to face.</p> <h2>1. Online identity theft</h2> <p>Identity theft has been around as long as there have been identities to steal. But, since our grandparents didn't have the internet (at least until they were much older), identity theft was not as big of a concern as it is today. Since information wasn't digital, no one could hack into a database to steal credit card numbers, Social Security data, and other personal identification details. Our grandparents didn't have to peruse their credit reports for cards, loans, and other lines of credit that had been fraudulently taken out in their names.</p> <p>Today, we have to be proactive about protecting ourselves from fraud. According to a recent study by Javelin Strategy &amp; Research, 6.5 percent of consumers experienced identity fraud in 2016, a number that continues to rise every year. The same report from the previous year found the average incident cost was $1,585.</p> <p>Though our financial institutions are looking out for us, we have to be wary about where we use our credit cards online, and we have to pull those yearly credit reports, just in case. Every year, we have to deal with the potential for tax fraud, and we must constantly weigh whether it's worthwhile to share our information online in return for whatever goods and services we are getting in exchange. (See also: <a href="http://www.wisebread.com/18-surprising-ways-your-identity-can-be-stolen?ref=seealso" target="_blank">18 Surprising Ways Your Identity Can Be Stolen</a>)</p> <h2>2. Credit cards</h2> <p>Our grandparents and great-grandparents simply didn't have or use credit cards in anywhere near the same capacity as we do today. For the most part, their mentality was this: Either they had the money to buy what they needed, or they didn't. If they didn't, they simply went without. This straightforward approach to money meant they were probably better at budgeting than many of us are today.</p> <p>Now, according to the Federal Reserve, 70 percent of Americans have at least one credit card, with the average being 2.6 cards according to Gallup. In houses that carry credit card debt, a NerdWallet study found the average amount to be a whopping $16,425 as of 2017. As a nation, that's a grand total of $764 billion that we owe on our cards. (See also: <a href="http://www.wisebread.com/fastest-way-to-pay-off-10000-in-credit-card-debt?ref=seealso" target="_blank">The Fastest Way to Pay Off $10,000 in Credit Card Debt</a>)</p> <p>Our grandparents didn't have to deal with credit card debt, but they also missed out on many of the benefits of credit cards, like points, miles, and <a href="http://www.wisebread.com/5-best-cash-back-credit-cards?ref=internal" target="_blank">cash back programs</a>. (See also: <a href="http://www.wisebread.com/10-awesome-credit-card-perks-you-didnt-know-about?ref=seealso" target="_blank">14 Awesome Credit Card Perks You Didn't Know About</a>)</p> <h2>3. Student loans</h2> <p>The first federal student loans in the United States <a href="http://www.edcentral.org/edcyclopedia/federal-student-loan-programs-history/" target="_blank">were offered in 1958</a>, under the National Defense Act. The institution of student loans simply missed most of our grandparents' generation. Now, according to Student Loan Hero, 44.2 million Americans are dealing with student loan debt, and repayment is so difficult that it is a crisis for many people.</p> <p>In homes that carry student loan debt, NerdWallet found the average amount owed is over $50,000. Since 1985, inflation has seen the cost of college fees and tuition rise by nearly 500 percent. It's no wonder we have to take out loans to pay for school.</p> <p>While our grandparents didn't have to deal with these enormous student loans, there was a trade-off: They also found it much harder to go to college. Loans today make it easier for people to get the education they want or need to pursue their dreams, so we have more educational opportunities than our grandparents did. But, that opportunity comes at a steep price. (See also: <a href="http://www.wisebread.com/7-unique-ways-millennials-are-dealing-with-student-loan-debt?ref=seealso" target="_blank">7 Unique Ways Millennials Are Dealing With Student Loan Debt</a>)</p> <h2>4. High health care costs</h2> <p>Getting quality medical care didn't always cost as much as it does now. In 1958, the average person spent <a href="https://www.forbes.com/sites/chrisconover/2012/12/22/the-cost-of-health-care-1958-vs-2012/#7c4abff44910" target="_blank">$134 per year</a> on health care costs (and many of our grandparents were born before that, when costs were even lower). Even if you adjust for inflation, that's only around $830 by today's standards. In 2016, the average person spent <a href="http://www.pbs.org/newshour/rundown/new-peak-us-health-care-spending-10345-per-person/" target="_blank">$10,345 dollars on health care</a>. That's a massive leap.</p> <p>It shouldn't be a surprise that health insurance is a huge debate in our country, because most people can't afford this much out of pocket. Health care costs have gone up for many reasons, including the advancement (and expense!) of technology, the high cost of becoming a doctor, and the drain of long hospital stays and drawn out illnesses. Our grandparents and great-grandparents may not have had such high health care costs, but again, there was a trade-off: They also didn't have access to the advanced technology and treatments that we have today. (See also: <a href="http://www.wisebread.com/the-one-question-you-need-to-answer-to-choose-the-best-plan-on-the-health-care-marketplace?ref=seealso" target="_blank">The One Question You Need to Answer to Choose the Best Plan on the Health Care Marketplace</a>)</p> <h2>5. Saving for retirement</h2> <p>In our grandparents' day, many jobs came with pensions. You worked a certain number of years, or until you reached a certain age, and the company let you retire with plenty of money to live out the rest of your life. It wasn't up to you to figure out a 401(k), the various types of IRAs, and more. Instead, you invested in a company, and that company took care of you when you left the working world. (See also: <a href="http://www.wisebread.com/if-youre-lucky-enough-to-receive-a-pension-here-are-6-things-you-need-to-do?ref=seealso" target="_blank">If You're Lucky Enough to Receive a Pension, Here Are 6 Things You Need to Do</a>)</p> <p>Now, we have to invest for ourselves, because pensions are disappearing. According to the Bureau of Labor Statistics, in 1990, 42 percent of private industry employees who worked full-time had a pension. By 2012, that number was down to 22 percent. And it's still falling. Companies aren't looking out for our retirement anymore, so we have to do it ourselves.</p> <p>While pensions had many perks, they didn't give workers the flexibility that we have today in planning for retirement. Now, we can choose how to invest our retirement savings, and exactly how much we put into those accounts. Although funding our retirement takes a lot more work these days, we at least have the benefit of more control and flexibility with our savings. (See also: <a href="http://www.wisebread.com/4-retirement-rules-of-thumb-that-actually-work?ref=seealso" target="_blank">4 Retirement &quot;Rules of Thumb&quot; That Actually Work</a>)</p> <h2>6. Rising food costs</h2> <p>Things cost more now than they did in our grandparents' day. While we also make more money than they did, it's not enough to keep up with the rising cost of everyday life. Since 2003, food and drink costs have risen by 36 percent. Our earnings, on the other hand, have only gone up 28 percent.</p> <p>A dozen eggs only cost <a href="https://www.bls.gov/opub/uscs/report991.pdf" target="_blank">$0.60 in 1950</a>. By 2010, that cost was $1.79 per dozen, and it's only getting higher. Sure, that's one small item. However, when you multiply that by all of your groceries, that's a significant change between the prices our grandparents paid and the ones we pay now.</p> <p>The silver lining to those rising food costs is that we now have many more options in where and how we purchase groceries, which gives us a chance to find the best deals. Apart from the grocery store, you can do a cost comparison with your local farmers market or wholesale retailer, like Costco. Recent years have also seen a boom in community-supported agriculture (CSA) shares, in which you receive farm-fresh, seasonal produce (and sometimes dairy!) for a fraction of what you'd pay at the store. Today, you can even save money by <a href="http://www.wisebread.com/6-ways-having-your-groceries-delivered-can-save-you-money?ref=internal" target="_blank">having your groceries delivered</a> right to your doorstep. (See also: <a href="http://www.wisebread.com/10-affordable-alternatives-to-the-grocery-store?ref=seealso" target="_blank">10 Affordable Alternatives to the Grocery Store</a>)</p> <p>We also have more ways to find savings on those rising food costs. Apart from good, old-fashioned coupon clipping, there are numerous apps and websites (such as Ibotta, SavingStar, and Checkout 51) that offer stellar deals and cash back on grocery purchases. (See also: <a href="http://www.wisebread.com/the-8-shopping-apps-thatll-actually-save-you-money-in-2016?ref=seealso" target="_blank">The 8 Shopping Apps That'll Actually Save You Money</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F6-money-problems-our-grandparents-never-had&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F6%2520Money%2520Problems%2520Our%2520Grandparents%2520Never%2520Had.jpg&amp;description=6%20Money%20Problems%20Our%20Grandparents%20Never%20Had"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/6%20Money%20Problems%20Our%20Grandparents%20Never%20Had.jpg" alt="6 Money Problems Our Grandparents Never Had" width="250" height="374" /></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-problems-our-grandparents-never-had">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/5-ways-to-make-long-term-care-more-affordable">5 Ways to Make Long-Term Care More Affordable</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/your-travel-rewards-points-were-stolen-now-what">Your Travel Rewards Points Were Stolen. Now What?</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-ways-your-money-is-being-a-jerk-and-how-to-fight-back">5 Ways Your Money Is Being a Jerk (And How to Fight Back)</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/10-money-lessons-i-learned-from-dad">10 Money Lessons I Learned From Dad</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/what-to-do-after-losing-your-social-security-card">What to Do After Losing Your Social Security Card</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance family generations great grandparents health care costs identity theft money problems pensions retirement savings Mon, 21 Aug 2017 08:31:10 +0000 Sarah Winfrey 2005634 at http://www.wisebread.com How to Build a Back-to-School Capsule Wardrobe That's Trendy and Affordable http://www.wisebread.com/how-to-build-a-back-to-school-capsule-wardrobe-thats-trendy-and-affordable <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-build-a-back-to-school-capsule-wardrobe-thats-trendy-and-affordable" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-477988890.jpg" alt="build a back-to-school capsule wardrobe" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You want your kids to have clothes they both love to wear and that didn't cost an arm and a leg to buy. Especially as kids get older, they tend to want the latest trends to help them fit in, but that isn't always compatible with your budget. So, how do you balance trendy fashion and affordability? Helping your child build a capsule wardrobe is the perfect solution! (See also: <a href="http://www.wisebread.com/8-essential-pieces-for-your-capsule-wardrobe?ref=seealso" target="_blank">8 Essential Pieces for Your Capsule Wardrobe</a>)</p> <p>A capsule wardrobe is made up of a few essential clothing items that can be paired with seasonal pieces. When it comes to dressing your kids, planning a capsule wardrobe that fits into each season can help you make sure they have the clothes they need year-round while sticking to your budget.</p> <h2>Check your inventory</h2> <p>Before you go out shopping, take inventory of what's in your child's closet. Have them decide on a number and go through the items together or with their friends for help. Place items they'll no longer wear in a discard or donate pile. Hang up the final keeper items in the closet and see what you've got. Decide together what type of clothes your child needs to finish their capsule wardrobe for each season that year, such as shorts, skirts, or warmer jackets.</p> <p>In order to keep on top of your child's wardrobe, and not have to suffer through last-minute shopping when you realize that they don't have a quality jacket that fits for winter, it's important to write down each type of clothing they will need and which season it can be used for. This way you can shop for specific pieces when you can get the best prices. Keep in mind the majority of their capsule wardrobe should remain the same with only select seasonal pieces switching out as the weather changes.</p> <p>Tweens and teens who are allowed to have a smartphone may benefit from adding virtual closet apps that show each piece and outfits available in their closet, such as <a href="http://about.stylitics.com/" target="_blank">Stylitics</a>, or <a href="http://closetapp.com/" target="_blank">Closet</a>. These apps also suggest randomized outfits in the mornings.</p> <h2>Choose the basics</h2> <p>The capsule wardrobe is all about combining reliable, affordable clothing plus a few trendy, seasonal pieces each year. Typically, this number for a full wardrobe is around 30 pieces, but your child should be free to pick a reasonable number that makes them comfortable. Overall, your child's capsule wardrobe should mean less clothes overall, which will save you money.</p> <p>The pieces can be interchangeable and layered to create completely new outfit selections. The total number of items could easily double the number of outfits to choose from in the closet. Included in the capsule are day-to-day looks and matching shoes, but pajamas, workout clothes, snow clothes, and accessories don't count. Basic starter pieces in a fall capsule for a girl could include:</p> <ul> <li>Four pairs of jeans or khakis.<br /> &nbsp;</li> <li>One pair of black dress pants.<br /> &nbsp;</li> <li>Three solid color undershirts.<br /> &nbsp;</li> <li>Three overshirts or cardigans.<br /> &nbsp;</li> <li>Five dressy tops of choice.<br /> &nbsp;</li> <li>Three dressy skirts of choice.<br /> &nbsp;</li> <li>Three dresses.<br /> &nbsp;</li> <li>Shoes: a pair of street shoes, formal shoes, and ballerina flats.</li> </ul> <p>Or, your child's capsule may be simpler, with six tops and five pairs of pants. A go-to hoodie or jean jacket is a great option to consider as an extra staple. Aside from smart basics that are easy to interchange, and are comfortable and appropriate for school, your child may add in whatever else makes them feel confident. Try to find pieces that your child can grow into as well so the item can last for a year or (or perhaps two) within the capsule wardrobe. (See also: <a href="http://www.wisebread.com/6-smart-ways-parents-can-save-on-back-to-school-clothes?ref=seealso" target="_blank">6 Smart Ways Parents Can Save on Back-to-School Clothes</a>)</p> <h2>Plan for the seasons</h2> <p>Most likely, the majority of your child's capsule wardrobe will flow from season-to-season. You may add a few cardigans or jackets to layer over the summer tank tops. You'll also want to switch out the shorts for warmer pants or thick leggings.</p> <p>Allow for one big splurge on an item that's trendy or is clearly loved by your kid, such as a pair of purple pants or boots. Remember, for every item that you pull out of storage or purchase new, remove an item to keep the total number in the closet the same.</p> <h2>Get creative, sell, or reuse outgrown pieces</h2> <p>Don't be afraid to get creative to stay trendy and on-budget. Moms and dads will have '90s items their children may love to wear or repurpose. <a href="http://www.wisebread.com/15-ways-to-recycle-and-reuse-old-t-shirts" target="_blank">T-shirts can easily be upcycled</a> into dresses, tanks, and more, while old jeans may be cut down into shorts and secured by sewing or fashion tape. Have your kids invite friends over to do a clothing swap, complete with a pizza party or sleepover.</p> <p>Used clothing boutiques or sites like <a href="https://www.thredup.com/" target="_blank">thredUP</a> or <a href="https://letgo.com/" target="_blank">LetGo</a> are also great ways to get rid of clothes that don't fit and can cover at least some of the cost of adding new items to the existing capsule wardrobe. It's cheaper to replace just a few items than to buy them a full new wardrobe as they grow or as the seasons change.</p> <p>Back-to-school shopping doesn't mean you have to break the bank or disappoint your kids with less than fashionable clothes. Creating a kid's capsule wardrobe is the perfect solution to keep the budget in check while letting your child have control of their fashion choices, remain trendy, and actually wear the clothes in their closet.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-to-build-a-back-to-school-capsule-wardrobe-thats-trendy-and-affordable&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520to%2520Build%2520a%2520Back-to-School%2520Capsule%2520Wardrobe%2520Thats%2520Trendy%2520and%2520Affordable.jpg&amp;description=How%20to%20Build%20a%20Back-to-School%20Capsule%20Wardrobe%20Thats%20Trendy%20and%20Affordable"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20to%20Build%20a%20Back-to-School%20Capsule%20Wardrobe%20Thats%20Trendy%20and%20Affordable.jpg" alt="How to Build a Back-to-School Capsule Wardrobe That's Trendy and Affordable" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/anum-yoon">Anum Yoon</a> of <a href="http://www.wisebread.com/how-to-build-a-back-to-school-capsule-wardrobe-thats-trendy-and-affordable">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-9"> <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-back-to-school-items-you-can-buy-used">6 Back-to-School Items You Can Buy Used</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-effortless-ways-to-save-on-back-to-school-shopping">4 Effortless Ways to Save on Back-to-School Shopping</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-smart-ways-parents-can-save-on-back-to-school-clothes">6 Smart Ways Parents Can Save on Back-to-School Clothes</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/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-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-smart-ways-to-save-on-fathers-day">3 Smart Ways to Save on Father&#039;s Day</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Family Shopping back-to-school family saving money school shopping shopping for kids Thu, 17 Aug 2017 09:00:06 +0000 Anum Yoon 2004470 at http://www.wisebread.com 4 Questions You Need To Answer Before Relocating in Retirement http://www.wisebread.com/4-questions-you-need-to-answer-before-relocating-in-retirement <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-questions-you-need-to-answer-before-relocating-in-retirement" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/senior_couple_hugging_over_living_house_background.jpg" alt="Senior couple hugging over living house background" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Do your post-career plans include a change of address? If so, you're not alone. A 2015 Bankrate survey found that one in five Americans age 65 or older would consider moving to a different city or state for retirement.</p> <p>If a change of scenery in your later years sounds appealing, the most important question to consider is, &quot;Why?&quot; It's easy to romanticize the benefits of living in a different city. So, before you start packing boxes, here are four key questions that'll help make sure you're relocating for all the right reasons. (See also: <a href="http://www.wisebread.com/4-exciting-affordable-american-cities-to-retire-in?ref=seealso" target="_blank">4 Exciting, Affordable American Cities to Retire In</a>)</p> <h2>How would a move impact your finances?</h2> <p>Many people who move in retirement do so for financial reasons. In fact, nearly 75 percent of people age 65 or older said finding a lower cost of living was &quot;extremely important&quot; when thinking about where to retire, according to Bankrate.</p> <p>Moving for monetary reasons can make sense as long as you look at all sides of the equation. If your retirement account isn't as fully stocked as you'd like it to be, selling a home that you own outright or have a lot of equity in and buying one that costs less may be wise. Just be sure to factor in other ongoing costs in the town you're thinking of moving to, such as property taxes, insurance, sales taxes, and more.</p> <p>You can get a feel for how your cost-of-living may change by using an online calculator, and the <a href="https://taxfoundation.org/state-and-local-sales-tax-rates-2016/" target="_blank">Tax Foundation</a> has information about state and local taxes. But do some additional checking. Talk with a realtor to ask about property taxes, and call an insurance agent to see how your homeowners and vehicle insurance costs may change.</p> <h2>How would a move impact your extended family?</h2> <p>A couple of years ago, an older couple I know sold the home they've owned for many years and moved closer to two of their adult children and their families. They're enjoying spending more time with their grandchildren, attending various school and sports events. And, when the woman in the couple had to be hospitalized recently, their adult children didn't have to fly across the country to be there for her.</p> <p>On the other hand, my in-laws live about five hours away. When my father-in-law recently became ill and eventually passed away, it was very challenging for my wife and our whole family to be there as much as we would have liked.</p> <p>Relocating to be closer to family is generally a good idea. However, there are also some risks. For example, the adult children you move to be closer to could end up moving because of career or other reasons.</p> <p>Be sure to manage everyone's expectations as well by having a conversation with your adult children before you move. How often will you get together? How available will you be to baby-sit your grandkids? And how much help might your adult children provide if and when your health declines?</p> <h2>How would a move impact your friendships?</h2> <p>When considering a move, it's easy to make the mistake of overstating the importance of some factors while underestimating others. For example, Midwesterners are especially open to the idea of relocating for retirement, according to Bankrate, mostly because of their desire for better weather. However, weather is something people tend to get acclimated to fairly quickly, whereas it takes time to develop true friendships. Don't be too quick to move away from close friends.</p> <h2>How would a move impact your future medical care?</h2> <p>Our quality of life is largely dictated by the quality of our health, and as we age, our health is likely to become more fragile. That makes easy access to high quality health care an especially important factor in where we live during our later years. How is the health care in the town you're thinking of moving to? Here are some resources that can help answer that question.</p> <p>Medicare's <a href="https://www.medicare.gov/hospitalcompare/search.html" target="_blank">Hospital Compare</a> database keeps tabs on hospitals throughout the country, monitoring their 30-day readmissions and deaths by surgical procedure, patient ratings, and more.</p> <p>The <a href="https://nhqrnet.ahrq.gov/inhqrdr/state/select" target="_blank">Agency for Healthcare Research and Quality</a> provides state health score cards that look at how the health care in each state compares to national benchmarks.</p> <p>The <a href="http://www.rwjf.org/en/library/research/2013/09/national-directory.html" target="_blank">Robert Wood Johnson Foundation</a> maintains a database of health care reports, rating hospitals in each state on a wide variety of measures.</p> <h2>Take your move for a test drive</h2> <p>One final idea: If you're thinking about relocating in retirement, before you pull up stakes and hire movers, consider taking an extended vacation to the area you're considering. That'll help you figure out if it's just a nice place to visit, or you would actually want to live there.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F4-questions-you-need-to-answer-before-relocating-in-retirement&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F4%2520Questions%2520You%2520Need%2520To%2520Answer%2520Before%2520Relocating%2520in%2520Retirement.jpg&amp;description=4%20Questions%20You%20Need%20To%20Answer%20Before%20Relocating%20in%20Retirement"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/4%20Questions%20You%20Need%20To%20Answer%20Before%20Relocating%20in%20Retirement.jpg" alt="4 Questions You Need To Answer Before Relocating in Retirement" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/matt-bell">Matt Bell</a> of <a href="http://www.wisebread.com/4-questions-you-need-to-answer-before-relocating-in-retirement">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/5-questions-couples-must-ask-before-retirement">5 Questions Couples Must Ask Before Retirement</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/heres-how-far-1-million-will-actually-go-in-retirement">Here&#039;s How Far $1 Million Will Actually Go in Retirement</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-questions-retirees-should-ask-before-starting-a-small-business">5 Questions Retirees Should Ask Before Starting a Small Business</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/yes-you-still-need-an-emergency-fund-in-retirement">Yes, You Still Need an Emergency Fund in Retirement</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-affordable-retirement-spots-with-world-class-health-care">4 Affordable Retirement Spots With World-Class Health Care</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement considerations family friendships health care hospitals moving pros and cons relocation Mon, 26 Jun 2017 08:30:12 +0000 Matt Bell 1970115 at http://www.wisebread.com 10 Affordable Water Parks You Can Drive To http://www.wisebread.com/10-affordable-water-parks-you-can-drive-to <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-affordable-water-parks-you-can-drive-to" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/brother_and_sister_having_fun_in_water_park.jpg" alt="Brother and sister having fun in water park" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Planning a summer vacation with the kids? While you hammer out the details, you'll need to plan&nbsp;on spending a pretty penny. According to an&nbsp;Allianz Travel Insurance study,&nbsp;the average family planned to spend $1,798 on travel last summer. That's no small chunk of change.</p> <p>Of course, summer travel is even more expensive if you fly your whole family to a faraway destination, or visit an expensive theme park like Disney World. Even if you&nbsp;use <a href="http://www.wisebread.com/top-5-travel-reward-credit-cards?ref=internal" target="_blank">credit card travel rewards</a>&nbsp;to pay for your airfare or hotel, you can expect to spend a bundle.</p> <p>But, what if you could have just as much fun without all those costs? Some of the nation's best water parks offer exceptional value within driving distance of a slew of major cities. (See also: <a href="http://www.wisebread.com/9-things-you-must-do-if-youre-traveling-with-kids" target="_blank">9 Things You Must Do If You're Traveling With Kids</a>)</p> <p>If you want to skip airfare but still take the kids on a fun, warm-weather trip they'll never forget, consider one of these options.</p> <h2>1. Holiday World and Splashin' Safari &mdash;&nbsp;Santa Claus, Indiana</h2> <p><a href="https://www.holidayworld.com/" target="_blank">Holiday World and Splashin' Safari</a>&nbsp;is the ultimate stop for a few days of family fun. The park offers both roller coasters and an expansive water park all for one low price. As a bonus, both parks offer free sunscreen and free fountain drinks all day long.</p> <p>One-day admission to both parks starts at around $26 per person, although prices increase through peak months of July and August. Check out the giant Thunderbird roller coaster or the popular Raven coaster. Or, ride the park's giant water coasters with seating for six. Pitch a tent next door at the popular&nbsp;<a href="http://www.lakerudolph.com/" target="_blank">Lake Rudolph Campground and RV Resort</a>&nbsp;for affordable camping fun and proximity to the parks.</p> <h2>2. Schlitterbahn South Padre Island Water Park &mdash;&nbsp;Texas</h2> <p><a href="http://www.schlitterbahn.com/south-padre-island/resort" target="_blank">Schlitterbahn South Padre Island Water Park</a>&nbsp;offers one of the largest water parks in southern Texas, along with an on-site hotel for ultimate convenience and comfort. Water park-only tickets start at just $51 for adults and $39 for kids. Kids age two and under are free.</p> <p>Once you arrive, you can float the day away in a lazy river dotted with rapids, boogie board in a wave pool, or thrill your way down more than a half-dozen water slides. Schlitterbahn also offers splash pads and small rides for the little ones, along with plenty of spots for shade and rest.</p> <h2>3. Kalahari Resorts &mdash; Wisconsin Dells, Wisconsin</h2> <p>Wisconsin Dells is a city known for its many, many water parks and outsized attractions.&nbsp;<a href="https://www.kalahariresorts.com/wisconsin" target="_blank">Kalahari Resorts</a>&nbsp;offers one of the broadest selections of both indoor and outdoor water rides. Their indoor water park alone is 125,000 square feet, while the outdoor park features exciting water races, a meandering river, whirlpool spas, water slides that zip and turn, and so much more.</p> <p>With an on-site room booked, you might qualify for free water park passes. If you stay off-site, water park-only passes start at $34, and kids under the age of two are free.</p> <h2>4. Water Country USA &mdash;&nbsp;Williamsburg, Virginia</h2> <p><a href="https://watercountryusa.com/en/williamsburg/" target="_blank">Water Country USA</a>&nbsp;offers extreme value and fun in the Williamsburg, Virginia area. Families can experience a white water rafting adventure together on the Big Daddy Falls, slide through curving chutes on the Colossal Curl, or fly face-first down the Nitro Racer. For the little ones, there are tiny slides, splash zones, and plenty of shade.</p> <p>A one-day water park ticket starts at $60 at the gate, but you can scoop one up for as low as $40 online, depending on the date. You can also buy a combo ticket that includes admission to the adjacent Busch Gardens for $80 online or $120 at the door.</p> <h2>5. Legoland California Resort &mdash;&nbsp;Carlsbad, California</h2> <p>West Coast families can delight in numerous easy-to-reach water parks, including&nbsp;<a href="https://www.legoland.com/california/legoland-water-park/rides-and-attractions/" target="_blank">Legoland California Resort</a>. Here, you can build your own rafts incorporating giant Legos, get blasted by water cannons in the Joker Soaker, ride the Orange Rush through its twists and turns, and master an array of other water coasters built for kids and adults of all ages.</p> <p>You can get two-day admissions to both Legoland and its water park for $89 for kids under 13, and $95 for everyone else.</p> <h2>6. Dollywood's Splash Country Water Park &mdash;&nbsp;Great Smoky Mountains, Tennessee</h2> <p>Families can enjoy mountain scenery and cool down in the waters of&nbsp;<a href="http://www.dollywood.com/waterpark" target="_blank">Dollywood's Splash Country Water Park</a>.&nbsp;Race one another down the TailSpin Racer, take the Big Bear Plunge in a family floater made for five, or play with the little ones in their own special park within a park, Little Creek Falls.</p> <p>Driving distance from many places in the South, Dollywood also offers a theme park perfect for family affairs. One-day admission to the theme park starts at $67 for adults and $54 for kids ages four to 11. Water park admission is $49 for adults, $44 for kids.</p> <h2>7. Roaring Springs Water Park &mdash;&nbsp;Meridian, Idaho</h2> <p><a href="http://www.roaringsprings.com/" target="_blank">Roaring Springs</a>&nbsp;is a sprawling water park in southern Idaho that offers fun for the whole family. Ride the new Corkscrew Cavern looping water slide, relax in a private cabana, speed down the nearly vertical Cliffhanger, or float in the wave simulator all day long. Of course, there are plenty of dining options available, too, from pizza to salads.</p> <p>Full-day admission for adults is $32, while kids under 48&quot; are $27. Children ages three and under are free.</p> <h2>8. Water-Zoo &mdash;&nbsp;Clinton, Oklahoma</h2> <p>Oklahoma's <a href="http://www.water-zoo.com/" target="_blank">Water-Zoo</a>&nbsp;offers an array of indoor water slides and rides that will delight even the pickiest young traveler. Inside, you'll find more than 300,000 gallons of water, 500 feet of water slides, a wave pool, a lazy and crazy river, and a small slide for little kids, too.</p> <p>Admission is $23.49 for guests under 48&quot;, and $34.99 for everyone else. Children ages three and under are free.</p> <h2>9. Six Flags White Water &mdash;&nbsp;Atlanta, Georgia</h2> <p><a href="https://www.sixflags.com/whitewater" target="_blank">Six Flags of Atlanta</a>&nbsp;offers a water park filled with fun and crazy rides to keep the kids entertained. The Wahoo Racer lets you zip past your family and friends in a six-lane water race. You can also swoosh down the Bahama Bob slide, or ride the waves in the 700,000-gallon Atlanta Ocean Wave Pool. There are nearly two-dozen water attractions for guests of all ages (and sizes) to enjoy.</p> <p>You'll save big here, too. Advance purchase tickets are $40, and children ages two and under are free.</p> <h2>10. Wild Waves Theme &amp; Water Park &mdash;&nbsp;Federal Way, Washington</h2> <p><a href="https://www.wildwaves.com/" target="_blank">Wild Waves</a>&nbsp;offers both roller coasters and water rides in a single, inspiring setting. The water park features eight wet and wacky attractions, including a giant wave pool, relaxing river, warming tubs, and thrilling water coasters for the daredevils in your crew.</p> <p>Summer entrance is surprisingly cheap for families, especially if you prepay online. You can get advance purchase starting at $17 for adults and children. Adult tickets go up to $30 later in the season. Kids ages three and younger are always free.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F10-affordable-water-parks-you-can-drive-to&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F10%2520Affordable%2520Water%2520Parks%2520You%2520Can%2520Drive%2520To.jpg&amp;description=10%20Affordable%20Water%20Parks%20You%20Can%20Drive%20To"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/10%20Affordable%20Water%20Parks%20You%20Can%20Drive%20To.jpg" alt="10 Affordable Water Parks You Can Drive To" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/holly-johnson">Holly Johnson</a> of <a href="http://www.wisebread.com/10-affordable-water-parks-you-can-drive-to">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-11"> <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/beyond-disney-8-affordable-family-destinations-in-the-us">Beyond Disney: 8 Affordable Family Destinations in the US</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/family-friendly-hotel-and-resort-chains-where-kids-stay-free">Family-Friendly Hotel and Resort Chains Where Kids Stay Free</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/the-easiest-ways-to-save-on-your-next-rv-camping-trip">The Easiest Ways to Save on Your Next RV Camping Trip</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/10-little-known-secrets-to-saving-money-on-your-next-cruise">10 Little-Known Secrets to Saving Money on Your Next Cruise</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-essential-money-saving-items-to-take-on-a-camping-road-trip">6 Essential Money-Saving Items to Take On a Camping Road Trip</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Travel affordable driving family kids pools road trip summer swimming vacation water parks Thu, 01 Jun 2017 08:30:13 +0000 Holly Johnson 1957456 at http://www.wisebread.com How to Help Your Kid Build Their First Budget http://www.wisebread.com/how-to-help-your-kid-build-their-first-budget <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-help-your-kid-build-their-first-budget" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-185090450.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="142" /></a> </div> </div> </div> <p>Teenagers need guidance to build their first budget. But with sporting events, extracurriculars, and homework to worry about, it can be easy for parents to let budgeting skills fall through the cracks. And if you were never taught how to budget by your own parents, you might not know how to teach your children this skill.</p> <p>Helping your teenage child create a budget does not have to be overwhelming or time consuming. The important thing is to be proactive and consistent as you teach your teen how to handle money in the real world.</p> <h2>Offer a Monthly Allowance<strong> </strong></h2> <p>Providing a monthly allowance will help your child recognize the importance of long-term money planning. If they blow the entire month's worth of allowance in the first weekend, they'll learn an important lesson in delaying gratification. The most important thing you can do is be consistent about paying the allowance each month, and refuse to bail your child out of a problem if they use up their money before the month is over.</p> <p>If your teenager also decides to take a job, consider that a supplement to their allowance, rather than a substitute. Just as you would hate to see your initiative at work penalized by a reduction in pay, your child would hate to see their allowance docked just because they're showing initiative in getting a job.</p> <h2>Require Them to Take Over Some Necessary Spending</h2> <p>Many parents allow their teens to use their allowance and salary as pocket money. While there's nothing wrong with letting your kid have fun money, a big part of budgeting is making sure you have enough money to cover fixed bills. You can help your teenager learn to do this by asking them to take over a necessary bill.</p> <p>For example, you could ask them to cover a portion of the family cell phone plan, or their portion of the automobile insurance. Learning to pay these bills on time will give your teen an important first taste of what it will be like to pay their own way as an adult.</p> <h2>Create Targeted Savings Accounts<strong> </strong></h2> <p>It's likely that your child has some big goals for the future, whether that's going to a private college or buying a car. You can show them that they can achieve these financial goals through targeted savings accounts.</p> <p>Many banks allow you to create several targeted accounts, each with its own nickname. You can help your teen set up a few of these targeted savings accounts and encourage them to transfer some of their allowance or salary into the accounts when they get paid. They'll learn the importance of paying themselves first, and that consistent savings adds up. (See also: <a href="http://www.wisebread.com/build-savings-faster-with-a-multiple-account-strategy?ref=seealso" target="_blank">Build Savings Faster With a Multiple Account Strategy</a>)</p> <h2>Help Them Track Their Spending</h2> <p>Financial tracking is a necessary part of creating a healthy budget. They should know where their money is going each month, and whether those expenses were worthwhile. If they discover they're spending a good portion of their allowance on going to the movies, introduce options to them, like discounted movie passes or skipping the popcorn, soda, and snacks while there. Remind them to spend their money consciously.</p> <h2>Have Regular Budget Meetings</h2> <p>Plan on checking in at least once every two or three months to see how their finances are faring. They should get into the habit of reviewing how they've spent their money and whether those expenditures align with their goals. This will set your teen up to regularly review their budget on their own, and one day have regular budget meetings with their spouse.</p> <h2>Teach Your Children Well</h2> <p>Budgeting is the cornerstone of financial health, but knowing how to budget is hardly intuitive. Spending can easily become automatic and savings be pushed to the back burner. By getting your teen used to reviewing their finances and planning for their future, you're creating a powerful habit that will guide them wisely 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/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/how-to-help-your-kid-build-their-first-budget">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-12"> <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/7-unexpected-ways-stay-at-home-parents-save-big">7 Unexpected Ways Stay-at-Home Parents Save Big</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-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-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-essential-money-moves-for-new-parents">7 Essential Money Moves 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/24-tips-for-having-a-baby-without-going-broke">24 Tips for Having a Baby Without Going Broke</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Family allowances budget meetings family kids saving money savings accounts teenagers tracking spending Thu, 16 Feb 2017 11:00:09 +0000 Emily Guy Birken 1889843 at http://www.wisebread.com 10 Fun Books That Will Get Your Kids Excited About Money http://www.wisebread.com/10-fun-books-that-will-get-your-kids-excited-about-money <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-fun-books-that-will-get-your-kids-excited-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-597659170.jpg" alt="your kids will love these books about money" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Chances are, you want your child to be financially wise, but every time you start to talk about money management or smart spending, your kid conveniently tunes out. Fun books are the perfect way to get your children thinking about money.</p> <p>You don't necessarily need to force your kids to read heavy economic books. Instead, allow them to enjoy and be inspired by these books about saving, giving, and starting businesses.</p> <h2>1. <em>The Berenstain Bears' Dollars and Sense</em> by Stan and Jan Berenstain</h2> <p><a href="http://amzn.to/2i7aviQ" target="_blank">The Berenstain Bears' Dollars and Sense</a> helps teach kids about allowance management. The book has tear-out checks so that kids can practice writing their own. While most of the population uses <a href="http://www.wisebread.com/credit-cards-vs-debit-cards-a-comprehensive-comparison" target="_blank">debit cards and credit cards</a>, writing checks is still something that should be learned.</p> <h2>2.<em> The Berenstain Bears' Money Trouble</em> by Stan and Jan Berenstain</h2> <p><a href="http://amzn.to/2j1dwBl" target="_blank">The Berenstain Bears' Money Trouble</a> features the same lovable bears as they start several businesses to earn money. Starting a business isn't easy, even when it's just a lemonade stand. This book goes through those initial obstacles in a fun way.</p> <h2>3. <em>The Berenstain Bears' Piggy Bank Blessings</em> by Stan and Jan Berenstain</h2> <p><a href="http://amzn.to/2j1fFwW" target="_blank">The Berenstain Bears' Piggy Bank Blessings</a> has an overall religious tone, quoting verses, but the story follows the bears as they save money for a surprise birthday present for their mom. My four-year-old enjoys this one, and I enjoy that the book shows the main characters thinking of others.</p> <p>See also: <a href="http://www.wisebread.com/8-best-sites-to-help-your-kids-learn-about-money?ref=seealso" target="_blank">8 Best Sites to Help Your Kids Learn About Money</a></p> <h2>4. <em>If You Made a Million</em> by David M. Schwartz</h2> <p>Kids throw around &quot;million&quot; without really knowing what it represents. <a href="http://amzn.to/2iw7QSV" target="_blank">If You Made a Million</a> helps children ages seven and older understand the complexity of big numbers in a fun way. While the book was published over two decades ago, it remains a classic, having won the ALA Notable Book and a Reading Rainbow Feature Selection.</p> <h2>5. <em>Prices! Prices! Prices!: Why They Go Up and Down</em> by David Adler</h2> <p>The well-loved author of the Cam Jansen series, David Adler, also happens to be a former math teacher. His book,<a href="http://amzn.to/2iAlvqd" target="_blank"> Prices! Prices! Prices!: Why They Go Up and Down</a> has such fun illustrations and tackles the concepts of supply and demand.</p> <h2>6. <em>Amelia Bedelia Means Business</em> by Herman Parish</h2> <p>Amelia Bedelia is a lovable and quirky character who takes everything literally. There have been many times I have laughed out loud while reading the original Amelia Bedelia series to my daughter, especially when she is told to &quot;dress the turkey&quot; and makes a little suit for the turkey dinner.</p> <p><a href="http://amzn.to/2iAnk6j" target="_blank">Amelia Bedelia Means Business</a> is not written by the original author, but the story still follows the same theme. This one follows a young Amelia Bedelia as she tries to make money, even getting in trouble with the local police.</p> <h2>7. <em>American Girl Library: A Smart Girl's Guide: Money</em> by Nancy Holyoke and Sarah Hunt</h2> <p>American Girl non-fiction titles are both engaging and useful for young girls. <a href="http://amzn.to/2hMVXnq" target="_blank">A Smart Girl's Guide: Money</a> is written in an engaging, magazine-type format. Topics covered are smart shopping tips, making money, and investing. The book includes fun graphics and easy-to-use quizzes.</p> <h2>8. <em>The</em> <em>Babysitter's Club Series</em> by Ann Martin</h2> <p>There might not be any set money lessons in the <a href="http://amzn.to/2iAhDW9" target="_blank">Babysitter's Club Series</a>, but I remember clearly that it helped spark an entrepreneurial spirit in me during my tween years. The idea that a group of teen girls start their own babysitting club had me planning and thinking about doing that myself. While I never started a babysitting club, I still have that entrepreneurial spirit that has allowed me to creatively earn money without a 9-to-5 position. The book series has been redone as a graphic novel, so it will appeal to today's generations.</p> <p>See also: <a href="http://www.wisebread.com/7-frugal-living-skills-you-should-be-teaching-your-children?ref=seealso" target="_blank">7 Frugal Living Skills You Should Be Teaching Your Children</a></p> <h2>9. <em>Rock, Brock, and the Savings Shock</em> by Sheila Bair</h2> <p><a href="http://amzn.to/2j1rmUr" target="_blank">Rock, Brock, and the Savings Shock</a> follows twins whose grandpa offers them a 10-week savings plan. Every dollar they save will be matched. One twin saves his money and has over $500 after 10 weeks, while the other twin spends the money foolishly. Tons of great money lessons in here.</p> <h2>10. <em>Isabel's Car Wash</em> by Sheila Bair</h2> <p>From the same author as the title above,<a href="http://amzn.to/2j1rvqX" target="_blank"> Isabel's Car Wash</a> is about a girl who wanted a doll that cost $10. She decides to start a car washing business, but first needs money for supplies. The book follows her adventure of starting a small business so that she can buy her doll.</p> <p>There are so many wonderful books out there that teach kids important money skills. Look for books that teach children the money basics in a fun way, and also look for books that features the main character acting as an entrepreneur.</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/10-fun-books-that-will-get-your-kids-excited-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-13"> <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/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-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-parenting-mistakes-to-avoid-when-teaching-kids-about-money">4 Parenting Mistakes to Avoid When Teaching 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-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-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-essential-money-moves-for-new-parents">7 Essential Money Moves 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/24-tips-for-having-a-baby-without-going-broke">24 Tips for Having a Baby Without Going Broke</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Entertainment Family budgeting family kids money parenting saving money Spending Money teenagers tweens Mon, 09 Jan 2017 11:00:09 +0000 Ashley Eneriz 1869549 at http://www.wisebread.com These 5 Expenses Will Probably Cost You a Lot Less in Retirement http://www.wisebread.com/these-5-expenses-will-probably-cost-you-a-lot-less-in-retirement <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/these-5-expenses-will-probably-cost-you-a-lot-less-in-retirement" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_bike_dog_492263352.jpg" alt="Woman finding things that cost a lot less in retirement" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>There are a lot of scary headlines out there about how poorly prepared people are for retirement. And it's hard to deny the research: Many people simply are not saving enough.</p> <p>One silver lining in the retirement funding equation, though, is that you'll probably spend less in your later years. Let's take a look at some of the most common costs that decline after exiting the workforce, along with some that may go up. (See also: <a href="http://www.wisebread.com/7-retirement-planning-steps-late-starters-must-make?ref=seealso">7 Retirement Planning Steps Late Starters Must Make</a>)</p> <h2>1. Housing Costs</h2> <p>Ideally, you'll retire your mortgage by the time <em>you</em> retire. Of course, you'll still be on the hook for property taxes and insurance, but entering retirement mortgage-free is one of the best ways to reduce the cost of living in your later years.</p> <p>You may also decide to downsize, which could cut the cost of home maintenance, repairs, and insurance, too.</p> <h2>2. Work Costs</h2> <p>If you're no longer working, you no longer have to worry about the cost of commuting, work-related clothing, or all those restaurant lunches. Plus, you'll no longer have to contribute to Social Security or Medicare as you probably had been doing via withholdings from your paycheck.</p> <h2>3. Car Costs</h2> <p>If you've been a two-car household during your career, it's possible that you could make it just fine as a one-car household in retirement, which would reduce the cost of vehicle maintenance, repairs, insurance, and gasoline. (See also: <a href="http://www.wisebread.com/you-cant-make-it-as-a-one-car-family-now-what?ref=seealso">You Can't Make It as a One-Car Family: Now What?</a>)</p> <h2>4. Saving &quot;Costs&quot;</h2> <p>It's hard to call adding money to a 401K or IRA a cost, but the reality is that once you're done working you'll probably stop contributing to your retirement accounts and start withdrawing from them.</p> <p>By the same token, if you had been stocking a 529-plan account or two with college money for your kids, hopefully they'll be done with school by the time you retire, so those &quot;costs&quot; should disappear as well.</p> <h2>5. Kid Costs</h2> <p>Speaking of kids, even though people are marrying and starting families later in life, by retirement, the kids should be on their own. Just think of all the money you've been spending on their clothing, food, activities, medical care, insurance, and more.</p> <h2>Caution: Your Retirement Spending May Change</h2> <p>While many costs may come down when you leave the workforce, keep in mind that retirement is not a homogeneous season of life. You'll probably be healthiest and most active when you're newly retired. That means some of your costs could actually go <em>up</em> right after retirement. You may spend more on travel and recreation, for example.</p> <p>Then, as you age, you'll probably become less mobile, which means eventually you'll spend less on recreational activities than before you retired.</p> <h2>The Big Unknown</h2> <p>The largest question mark looming on the retirement horizon is health care. Your monthly insurance premiums may decline once you go on Medicare. However, what about your potential need for nursing home care?</p> <p>While that's not the happiest topic to think about, it's far better to deal with it now than when you actually may <em>need </em>the care. To manage that risk, you may want to look into the cost of long-term care insurance. And keep in mind, your choice is not just between paying the high cost of as much coverage as possible or none at all. You could opt for a more affordable policy that would help with <em>some </em>of the costs, while leaving you responsible for some, as well.</p> <h2>The Bottom Line</h2> <p>The very real possibility that your living expenses will be less in retirement than they are now is not an excuse to shortchange your retirement accounts. The best approach is to run some numbers, creating pre- and post-retirement budgets based on your unique circumstances and retirement goals.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/matt-bell">Matt Bell</a> of <a href="http://www.wisebread.com/these-5-expenses-will-probably-cost-you-a-lot-less-in-retirement">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-14"> <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-you-can-cut-costs-right-before-you-retire-0">6 Ways You Can Cut Costs Right Before You Retire</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-signs-its-time-to-retire">8 Signs It&#039;s Time to Retire</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-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-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-questions-couples-must-ask-before-retirement">5 Questions Couples Must Ask Before Retirement</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-red-flags-that-your-retirement-plan-may-be-off-track">4 Red Flags That Your Retirement Plan May Be Off Track</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement Cars expenses family housing costs kids saving money spending the future vehicles working Wed, 14 Dec 2016 11:00:08 +0000 Matt Bell 1852822 at http://www.wisebread.com