lessons http://www.wisebread.com/taxonomy/term/9237/all en-US 6 Money Lessons From African-American Leaders http://www.wisebread.com/6-money-lessons-from-african-american-leaders <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-money-lessons-from-african-american-leaders" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-471544149.jpg" alt="Learning money lessons from African American leaders" title="" class="imagecache imagecache-250w" width="250" height="142" /></a> </div> </div> </div> <p>Before the early 20th century, black history was largely ignored by both historians and the general public. As a result, many great lessons imparted by African-American leaders were also ignored and overlooked.</p> <p>In particular, African-American leaders of the past and present offer a great deal of insight on money and finance that can inspire and enlighten all Americans. Read on to learn the financial lessons these great Americans can teach you.</p> <h2>Oprah Winfrey</h2> <p>&quot;Everyone wants to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.&quot;</p> <h3>The Lesson<strong> </strong></h3> <p>Oprah Winfrey is one of the richest people in America, which means she is well aware of how money, fame, and success can draw people to you. But the trappings of success, like a limousine, are just that &mdash; trappings. There is no guarantee that the success, money, and acclaim you have now will last, which means you can't trust the people who are only there because of the appearance of your success.</p> <p>Just as Oprah has her Gayle, who will always happily hop on a bus with her when things go wrong, you should seek people who love and respect you for who you are, and not what you have.</p> <h2>Mellody Hobson</h2> <p>&quot;If you understand how money can work for and against you, you can make better decisions. Financial literacy is not about wealth but about understanding money regardless of the amount. It's about how you treat it and how you maximize opportunities.&quot;</p> <h3>The Lesson<strong> </strong></h3> <p>Mellody Hobson, the president of Ariel Investments, may be best known by lay audiences for the two TED talks she gave in 2014 and 2015. She is an advocate for both <a href="https://www.ted.com/talks/mellody_hobson_color_blind_or_color_brave" target="_blank">greater diversity in corporate culture</a> and for <a href="https://youtu.be/zVLxDSXC7BU" target="_blank">increased financial literacy</a>. And she truly believes that we can all learn to handle our money better, no matter how much or how little we have. It's a lesson all Americans need to absorb if we want to improve our financial lives.</p> <p>According to Jackie Cummings Koski, financial educator and author of the book <a href="http://amzn.to/2kRvA21" target="_blank"><em>Money Letters 2 My Daughter</em></a>, Hobson's words and example have made a major difference in her life: &quot;Learning about how Mellody Hobson rose to tremendous success in the business and financial world helped to change my mindset about money and overcoming the odds.&quot;</p> <p>That mindset change is exactly what Hobson wants for all Americans, so that we can all maximize the opportunities in our lives.</p> <h2>Dr. Martin Luther King Jr.</h2> <p>&quot;Philanthropy is commendable, but it must not cause the philanthropist to overlook the circumstances of economic injustice which makes philanthropy necessary.&quot;</p> <h3>The Lesson</h3> <p>This quote from Dr. Martin Luther King Jr. can sound somewhat radical to modern ears, since we are not used to thinking beyond the importance of giving back to those in need. But as Dr. King points out, if economic injustice were eradicated, then charity and philanthropy would not be so necessary. It's easy for philanthropists to simply pat themselves on the back for their philanthropy, rather than wrestle with the systemic reasons why their generosity is necessary.</p> <p>To take Dr. King's message to heart, we should all remember that the problem of poverty is not over after we write a check to help those who are less fortunate. We need to also question our assumptions and challenge ourselves to make economic choices that align with our values.</p> <h2>Madam C.J. Walker</h2> <p>&quot;I had little or no opportunity when I started out in life. I had to make my own living and my own opportunity. But I made it! ... Don't sit down and wait for the opportunities to come. Get up and make them!&quot;</p> <h3>The Lesson</h3> <p>Sarah Breedlove, who marketed herself and her hair products under the name <a href="http://www.biography.com/people/madam-cj-walker-9522174#synopsis" target="_blank">Madam C.J. Walker</a>, was the first American woman to become a self-made millionaire. Walker's hair care empire all started when she created home remedies to deal with a scalp disorder that caused her to lose much of her hair. She began selling her remedy, which eventually grew into a national business that included factories, beauty schools, and trained sales beauticians who sold door-to-door.</p> <p>Walker was a single mother when she started her business, and she had little education and no experience as an entrepreneur. Yet, she recognized that she could build something great from what she knew &mdash; how to help herself and other women with hair care. She did not wait for someone else to help her or offer her a job, but instead decided to become an innovative businesswoman on her own.</p> <p>We should all learn to create our own opportunities using our strengths like Madam C.J. Walker did, rather than wait for opportunities to find us.</p> <h2>W.C. Handy</h2> <p>&quot;Then I saw the beauty of primitive music. They had the stuff the people wanted &hellip; my idea of what constitutes music was changed by the sight of that silver money cascading around the splay feet of a Mississippi string band.&quot; -&nbsp;<em>Father of the Blues, An Autobiography</em></p> <h3>The Lesson<strong> </strong></h3> <p>Composer and musician W.C. Handy is known as the &quot;Father of the Blues,&quot; but he did not start writing and playing blues music until well after he had established himself as a composer. In fact, he did not think of the blues as legitimate music, because it was &quot;just&quot; the songs that poor black folks would play for themselves. Then at a performance for a rich, white audience in Mississippi, a string blues band was brought in off the street to play, and the audience showered the black performers with money.</p> <p>Handy realized in that moment that he had been overlooking an important musical style because of snobbery, and that he was the right person to bring this musical style to the world. Handy was wise enough to recognize that he could give the people what they wanted &mdash; blues music &mdash; and make a profit from his own considerable talent.</p> <p>His example reminds us that capitalism can influence art in a wonderful way, rather than being an enemy of creativity. Had Handy not had his realization upon seeing the audience reaction to the string blues band, an entire genre of music would potentially be lost to history.</p> <h2>Lynette Khalfani-Cox</h2> <p>&quot;So, getting your money right matters well beyond saying, 'Oh, I had [so much money] in the bank.' It's about financial freedom to make the choices you want. It's about having a more stress-free life in what is an increasingly stressful world. And it's ultimately about feeling like you're in control of things as well, so that things don't feel so...out of whack.&quot; - <a href="http://podcast.farnoosh.tv/2015/03/lynnette-khalfani-cox/#" target="_blank">So Money podcast</a> with Farnoosh Torabi</p> <h3>The Lesson<strong> </strong></h3> <p>We have a tendency to think that paying attention to our money is a stressful drag, but financial expert <a href="http://askthemoneycoach.com/" target="_blank">Lynette Khalfani-Cox</a>,<a href="http://askthemoneycoach.com/"> &quot;</a>T<a href="http://askthemoneycoach.com/">h</a>e M<a href="http://askthemoneycoach.com/">o</a>n<a href="http://askthemoneycoach.com/">e</a>y C<a href="http://askthemoneycoach.com/">o</a>a<a href="http://askthemoneycoach.com/">c</a>h,&quot; understands that letting your money fall into chaos is much more stressful. She knows whereof she speaks: Khalfani-Cox once had $100,000 in credit card debt, before paying it all off in three years and turning her financial life around.</p> <p>Seeing how a self-described former shopaholic like Khalfani-Cox could quickly learn to be more mindful of her money and succeed in a career in finance is incredibly inspirational, particularly for other women of color. Real estate investor <a href="http://www.blackenterprise.com/money/real-estate-confidential-lisa-phillips/" target="_blank">Lisa Phillips</a> says of Khalfani-Cox, &quot;Until you really see someone of your same color and culture succeeding, that's when hope becomes conviction that you can do something.&quot;</p> <p>Khalfani-Cox works to make sure we all feel more in control of our lives, so that we can all feel the conviction that we can achieve our goals.</p> <h2>Honoring the Lessons of African-American Leaders</h2> <p>The lessons from African-American leaders throughout our history can inspire anyone to work toward their goals, recognize their values, and know their worth. Their words can help you change your money mindset, turn hope into conviction, and recognize that opportunities come to those who seek them.</p> <h2 style="text-align: center;">Like this article? Pin it!&nbsp;</h2> <p>&nbsp;</p> <p style="text-align: center;"><a href="//www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F6-money-lessons-from-african-american-leaders&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F6%20Money%20Lessons%20From%20African-American%20Leaders.jpg&amp;description=6%20Money%20Lessons%20From%20African-American%20Leaders" data-pin-do="buttonPin" data-pin-config="above" data-pin-color="red" data-pin-height="28"><img src="//assets.pinterest.com/images/pidgets/pinit_fg_en_rect_red_28.png" alt="" /></a> </p> <!-- Please call pinit.js only once per page --><!-- Please call pinit.js only once per page --><script type="text/javascript" async defer src="//assets.pinterest.com/js/pinit.js"></script></p> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/6%20Money%20Lessons%20From%20African-American%20Leaders.jpg" alt="6 Money Lessons From African-American Leaders" 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/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/6-money-lessons-from-african-american-leaders">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/3-pearls-of-financial-wisdom-from-dave-ramsey">3 Pearls of Financial Wisdom From Dave Ramsey</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-of-the-coolest-sayings-about-saving">10 of the Coolest Sayings About Saving</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/create-a-reverse-bucket-list-to-improve-your-money-management">Create a Reverse Bucket List to Improve Your Money Management</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-quotes-to-inspire-your-dream-career">8 Quotes to Inspire Your Dream Career</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/reach-your-money-goals-faster-with-a-simple-naming-trick">Reach Your Money Goals Faster With a Simple Naming Trick</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance african americans black history month civil rights inspiration leaders lessons quotes Wed, 22 Feb 2017 11:00:12 +0000 Emily Guy Birken 1894900 at http://www.wisebread.com How Many of These "Frugal Virtues" Have You Mastered? http://www.wisebread.com/how-many-of-these-frugal-virtues-have-you-mastered <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-many-of-these-frugal-virtues-have-you-mastered" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_smile_thinking_636275722.jpg" alt="Woman mastering several frugal virtues" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>What does it mean to be truly frugal?</p> <p>It's more than just trying to save money. In many ways, being frugal is a lifestyle. It's a virtuous one, too, if you can handle the commitment.</p> <p>To embody a frugal attitude requires you to follow a philosophy based on simplicity, discipline, and an awareness of yourself and the world around you.</p> <p>These are the Frugal Virtues. How many have you mastered?</p> <h2>1. Stifling Instant Gratification</h2> <p>You buy a $5.99 cappuccino because you feel like you need caffeine immediately. You buy a new car because it's shiny and awesome and you just can't wait to have it. You're the first to get the next iPhone, and absolutely must see the next Star Wars sequel on the night it comes out. You're not the type to wait for things. Unfortunately for you, when it comes to spending, patience is a virtue. New products are almost always cheaper if you wait to buy them. And when you wait to buy something, you may realize you don't need the item after all. Spending to satisfy every immediate urge is not part of the path to financial freedom.</p> <h2>2. Seeking Efficiency</h2> <p>To be efficient is to have maximum productivity with the least effort and expense. This concept of efficiency can be applied to a number of areas of personal finance. It could mean driving a car with good fuel mileage, or finding an air conditioning system that gives you the most bang for your buck. It may mean investing your money so that you can generate income with little effort. It could mean spending a small amount of time planning meals for the week, so that you're not wasting time and money later.</p> <h2>3. Looking for Free Stuff</h2> <p>Why pay for something if you can get it for free? One major virtue of frugal people is their ability to find a cost-free option for many items that the rest of us usually pay for. It might be using a coupon for a free meal at a restaurant, checking out books from the library, or grabbing a perfectly good lawn chair that's been placed out in the trash. It means being happy with over-the-air television, and dressing the kids in hand-me-down clothing. Not everything in life can be had for free, but you'd be surprised what you don't need to pay for.</p> <h2>4. Ignoring Advertising</h2> <p>When you watch TV or surf the Internet, you're bombarded with companies trying to get you to part with your money. Marketing folks are experts at manipulating people's emotions, ultimately convincing them that they need a product or service. Frugal people don't get swayed by commercials and banner ads. They don't jump at the latest email promotion or Facebook ad, and they know when something is baloney or not. When they buy things, they are motivated only by their own needs, and aren't swayed by outside influence.</p> <h2>5. Ignoring What's Popular</h2> <p>So everyone you know has a wide selection of clothes from LuLaRoe. They have the newest smartphones. They have awesome sunglasses and eat at the trendiest restaurants. A frugal person ignores this, and avoids making decisions based on what is popular or cool.</p> <h2>6. Avoiding Financial Traps</h2> <p>A financial trap is something that, on the surface, seems like a good deal but is more likely to harm you in the long run. Adjustable rate mortgages, quick payday loans, and even car leases are often considered traps because of their potential to hamstring a person financially if they aren't careful. A frugal person understands the potential pitfalls of every financial decision they make, and stays away from these traps.</p> <h2>7. Embracing the Sharing Economy</h2> <p>Do you and your neighbor both need a high-powered leaf blower? Why not buy one for the two of you and split the cost? Do you have an extra property that you could rent out on Airbnb? Could you save money through a ride-sharing service rather than buying a new car? The sharing economy is based on the notion that we don't need to &quot;own&quot; things as much as have access to them whenever we need them. By reducing what we own, we can save money, clutter, and possibly our sanity.</p> <h2>8. Staying Informed</h2> <p>There are reasons why stock prices go up and down. There are reasons why the cost of goods and services can fluctuate. There are reasons why you're paying more for housing than your parents did. When you understand how markets and the economy work and pay attention to financial news and world events, you're in a position to make smart decisions at every turn. Frugal people know how to read the tea leaves to make the right financial moves. The most frugal people don't just avoid spending; they also make informed choices when it comes to their money.</p> <h2>9. Understanding Value</h2> <p>The concept of value is a bit nebulous, but we've all heard the term &quot;bang for your buck.&quot; In essence, this means getting the most out of every dollar you spend. It doesn't necessarily mean buying the <em>cheapest </em>item every time. Rather, it means avoiding luxury for luxury's sake. And it means taking into account things like overall quality and durability of the items we buy.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/how-many-of-these-frugal-virtues-have-you-mastered">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/6-thinking-skills-frugal-people-should-master">6 Thinking Skills Frugal People Should Master</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-things-football-teaches-us-about-money">9 Things Football Teaches Us 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/not-the-sort-of-person-who">Not the sort of person who ...</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/12-personal-finance-skills-everyone-should-master">12 Personal Finance Skills Everyone Should Master</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">8 Frugal Living Skills I Wish My Parents Would Have Taught Me</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living advertising advice being frugal financial traps free instant gratification lessons saving sharing economy value virtues Tue, 24 Jan 2017 11:00:11 +0000 Tim Lemke 1871136 at http://www.wisebread.com Should Your Kids Contribute to Family Money Goals? http://www.wisebread.com/should-your-kids-contribute-to-family-money-goals <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/should-your-kids-contribute-to-family-money-goals" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/couple_kid_piggybank_517743380.jpg" alt="Parents asking kid to contribute to financial family goals" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Many years ago, I remember watching an episode of Wife Swap, a reality television program where &quot;two wives, from two very different families, swap lives for two weeks.&quot; The episode starred Tulsa, Oklahoma mom, Amy King, who made her three children buy their own treats and contribute toward all family vacations.</p> <p>Initially I thought the idea of making your children pay for their own vacation was a little radical and unloving. Obviously you don't want to force your eight-year-old to give up all of their allowance to your home renovation project or make your teenager stay home if they don't contribute to the family vacation fund.</p> <p>But it got me thinking. Could there be some good in asking children to contribute financially to family goals?</p> <h2>Why Set Family Financial Goals?</h2> <p>Setting and striving toward a goal as a family can be a powerful thing. It can bring every member of your family together and can help you work together and keep each other accountable. Spark Parenting says, &quot;Once kids see firsthand how to <a href="http://www.sparkparenting.com/Tip_Sheet_Family_Goals.pdf" target="_blank">set and achieve family goals</a>, they'll better understand what it takes to set and accomplish personal goals.&quot;</p> <p>Some important goals to set for your family can include:</p> <ul> <li>Spending more time together;</li> <li>Reading 10 books together;</li> <li>Getting healthy together;</li> <li>Giving back to the community.</li> </ul> <p>All of those goals are great to pursue as a family, but I encourage you to take on a financial family goal, too, especially when it feels like your budget is too tight for fun or travel. If you have been wanting to take a family vacation for years, yet never have enough money left over after bills, then setting a family financial goal can help.</p> <h2>Make It About the Family</h2> <p>When it comes to setting financial goals, set ones that involve and please the whole family. Yes, your family might be in debt or need new tires on the family van, but these scenarios should not be the responsibility of your children.</p> <p>Instead, make the financial goal something your kids want and can dream about with you. Here are some ideas for things to save up for:</p> <ul> <li>A family vacation in another country;</li> <li>A special dinner out;</li> <li>A day at a theme park;</li> <li>A family game/toy/activity (i.e. basketball hoop or bikes);</li> <li>Movies and ice cream.</li> </ul> <p>Your family financial goal can be big, such as a $5,000 vacation in Italy, or it can be small, like $30 for movies and ice cream. You can even have a mix of small and large goals. You should allow some room for your kids to daydream and plan. Don't just throw out &quot;Hey, kids, we need to visit grandma in Florida next year, start saving,&quot; and expect your kids to donate willingly.</p> <h2>How Much Should a Child Contribute?</h2> <p>Once the family has decided on a financial goal they want to accomplish, figure out a deadline and how much needs to be contributed each week and month. For example, a day trip to Disneyland for my family would cost around $450. If we wanted to go in 10 months, then we would need to save $45 toward our goal each month. We would then break down how much everyone would contribute weekly or monthly, depending on how often you pay allowances.</p> <p>If you assign chores and allowances based on age, then it is easy to assign how much each child should give toward the goal. Ideally, children's allowances should be split 50% &mdash; 60% spend/free choice, 20% &mdash; 30% save, and 10% give. This is true even if you do not do family allowances. If your child earns $10 a month for chores, you want to instill in him that he can keep $5 to $6 of it to do what he likes (depending on saving goals), $2 to $3 should go automatically into the savings account and not touched, and $1 should go toward charitable giving.</p> <p>For family financial goal contributions, 10% should be required of all children. I recommend the 10% coming out of the &quot;spend&quot; category, so that the child's allowance is broken down like so:</p> <ul> <li>50%&ndash;60% free choice</li> <li>20% savings</li> <li>10% family financial goal contribution</li> <li>10% charitable giving</li> </ul> <p>Obviously, your child is not going to be able to afford Disneyland anytime soon with a $1 contribution per month. That is where your contribution comes in. You fill in the gap, so it is important to make this a priority in your budget.</p> <p>So if my two children make $20 a month each from chores, I would expect them each to pay $2 toward the Disneyland fund. Which means my husband and I would then be responsible for $20.50 each per month.</p> <h2>What If Kids Don't Want to Give?</h2> <p>I definitely don't recommend making family goal time a negative thing with consequences and punishments. Instead, I recommend making a chart and setting the rule that parents only contribute on the weeks or months the kids contribute. So if my kids both spent their whole allowance on something else, then they wouldn't be in trouble, but I would show them that mom and dad will not be contributing this week and that our trip to Disneyland is now postponed a month.</p> <p>Making a large chart to track progress is a huge motivator for everyone. I encourage you to set and treat fun, family financial goals as a family matter. Everyone is doing their part. Of course, some kids might be against the idea, and for those issues, I believe you just need to sit down with them one-on-one and get to core of the problem. For example, maybe Johnny isn't contributing willingly to the fund because he doesn't want to go to Disneyland or because he is mad at his brother.</p> <p>Making your children contribute to family financial goals is for their benefit, not yours. This isn't the ultimate plan to get your child to start pulling their weight. Instead, it is a practical exercise that helps children understand the value of working together as a family, and how to save to make their own financial dreams come true.</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/should-your-kids-contribute-to-family-money-goals">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-frugal-living-skills-i-wish-my-parents-would-have-taught-me">8 Frugal Living Skills I Wish My Parents Would Have Taught Me</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-sibling-discounts-that-can-save-you-big">6 Sibling Discounts That Can Save You 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-help-your-kid-build-their-first-budget">How to Help Your Kid Build Their First Budget</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-your-taxes-will-change-after-you-have-a-kid">Here&#039;s How Your Taxes Will Change After You Have a Kid</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-lessons-that-teach-your-kid-to-be-their-own-boss">5 Lessons That Teach Your Kid to Be Their Own Boss</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Family allowance children contributing family goals giving kids lessons saving money Thu, 22 Dec 2016 10:30:27 +0000 Ashley Eneriz 1853794 at http://www.wisebread.com 9 Things Football Teaches Us About Money http://www.wisebread.com/9-things-football-teaches-us-about-money <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/9-things-football-teaches-us-about-money" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/football_player_92992279.jpg" alt="Learning things that football teaches us about money" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It's the time of year when Saturday and Sunday afternoons are spent rooting for your favorites on the gridiron. American football is King in the fall, and it's common for us to channel the game into life lessons about grit, determination, and teamwork. But football can also teach us a thing or two about handling our money.</p> <p>What can football teach us about personal finance? Here are some key takeaways.</p> <h2>1. Have a Game Plan</h2> <p>A football coach doesn't just show up on Sunday and wing it. He's spent the season devising a system that will give his team the best chance of success. He's scouted his opponent, studied his own players' strengths and weaknesses, and mapped out an approach to victory. This can be applied to any sort of money matter, from tackling a massive pile of debt, to saving for a new home, to investing for retirement. Develop a plan first, then you'll give yourself a greater chance of success.</p> <h2>2. Mix Things Up</h2> <p>A successful football team isn't going to run the ball on every play. It can't pass the ball every time, either. The best teams have a diversified plan of attack, and don't rely too heavily on any one weapon. Your investment philosophy should be similar in nature. Don't rely too heavily on one stock or industry. Because when you rely on one thing, even if it's shown to be successful in the past, you'll eventually get burned. Diversify your portfolio, just like a coach diversifies his playbook.</p> <h2>3. Be Smartly Aggressive</h2> <p>In football, you need to do what it takes to get into the end zone. This means throwing the long pass downfield once in awhile, or even going for it on fourth down. You don't want to be reckless, but it's hard to win a football game if you don't take some risks. Your investment philosophy should reflect this approach. A young person looking to accumulate wealth for retirement should invest largely in stocks, not conservative bonds or cash. Yes, there's some risk involved, but also a lot of evidence to show that you'll come out ahead in the end. Because playing it safe will only get you so far.</p> <h2>4. Be More Conservative Near the Finish</h2> <p>A football team with a big lead can afford to be more cautious as the end of the game approaches. You'll see teams draw up more running plays to eat up the clock and decrease the chances of mistakes. With the clock winding down, it's all about protecting the lead you have rather than taking risks that might blow the game. When investing, think of retirement as the fourth quarter. Once you have a big nest egg saved, shift your investments to more conservative things like bonds or cash. This way, you'll be less likely to lose the wealth you've created for yourself.</p> <h2>5. Field Goals Are Okay</h2> <p>Football games aren't always won with a flurry of touchdowns. Often, it's the field goal kicker that wins the game. We all would like our teams to get seven points on every possession. But that's not realistic. Settling for three points is better than nothing, and can still put you in a position to win. In investing, it's wise to think of your stock portfolio as a field goal kicker, steadily putting points up on the board. Sure, you're going to want some touchdowns mixed in, but it's often the smaller, but more frequent scores that move you to where you want to be.</p> <h2>6. Limit Your Mistakes</h2> <p>It's impossible for a football team to play a perfect game, and it's common to overcome a fumble or interception and still win. But too many blunders will cost you the game. This is true when it comes to finances as well. Did you buy a bad stock that cost you some money? That's okay, just don't make the same mistake again. Did you accumulate some debt? Don't worry, you can get out of the hole if you make the right choices from here on out. Keep your bad decisions to a minimum, and you'll be alright.</p> <h2>7. Sometimes You Will Take a Beating</h2> <p>Finances, just like football, can be brutal. There will be days when your team gets trounced, and your stock portfolio may get pounded in similar fashion. It happens. The key is to get up and keep trying. Resilience and patience are big drivers of success in football, and this can easily be applied to investing, saving, and debt reduction.</p> <h2>8. You Can't Win in One Day</h2> <p>As much as pundits like to refer to certain football games as &quot;must-wins,&quot; the reality is that the NFL plays a 16-game season. Sure there are some games that are more important than others, but it normally doesn't make much sense to dwell on the results of any single game during the season. Likewise, it's silly to panic over one bad day in the stock market, or one bad piece of personal finance news. The only thing that matters is how you finish. If you take the long view and are generally making positive progress, then you'll end up okay, just like in football.</p> <h2>9. Nothing Is for Certain</h2> <p>Pro football is one of the few sports where player salaries are not guaranteed. Any player can be cut and out of a job at any time. A perennial Pro Bowler can lose his starting job to a rookie. This lack of certainty often rears its ugly head in matters of money, also. You may think you have enough money to cover an emergency, but you don't. You assume you'll get a 9% return on a stock, but you lose money instead. This is why it's crucial to live conservatively, plan well, and invest with a long time horizon in mind. Because just when you think you have things all figured out, life happens.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/9-things-football-teaches-us-about-money">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-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/21-things-that-young-adults-absolutely-need-to-know-about-money">21 Things That Young Adults Absolutely Need to Know About Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-frugal-colonizers-guide-to-getting-to-mars">The Frugal Colonizer&#039;s Guide to Getting to Mars</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-moves-to-make-the-moment-you-get-a-promotion">8 Money Moves to Make the Moment You Get a Promotion</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-many-of-these-frugal-virtues-have-you-mastered">How Many of These &quot;Frugal Virtues&quot; Have You Mastered?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/getting-by-on-a-lot-less-money-3-ways-its-easier-than-you-think">Getting by on a lot less money: 3 ways it&#039;s easier than you think</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Frugal Living football investing lessons pigskin planning saving sports strategies Thu, 17 Nov 2016 09:00:09 +0000 Tim Lemke 1834560 at http://www.wisebread.com 4 Money Lessons We Can Learn From J.K. Rowling http://www.wisebread.com/4-money-lessons-we-can-learn-from-jk-rowling <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-money-lessons-we-can-learn-from-jk-rowling" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/wizards_magic_wands_62514930.jpg" alt="Learning money lessons from JK Rowling" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>While divorced and living on government assistance in a tiny apartment with her infant child, J.K. Rowling wrote the first book in the world-famous <em>Harry Potter</em> series. The rest is history: Rowling became the first female billionaire novelist creating a brand worth an estimated $15 billion.</p> <p>Even though she released the last Harry Potter book back in 2007, she still makes a cool $14 million per year through her proprietary website Pottermore and her other books. When it comes to becoming successful, she is living proof that perseverance and hard work can be just as effective as any spell from the Elder Wand. Here are the four money lessons we could all learn from author J.K. Rowling.</p> <h2>1. Be Prepared for the Worst</h2> <p>Rowling is so talented that her first three Harry Potter books occupied the top spots on numerous best-seller lists in the U.S. and the U.K. With each new book in the series, she went on to set new records in sales. When she published the seventh and final book the Harry Potter series, she set the record for the fastest selling book in the U.K. and U.S. and sales, accumulating more than 375 million book sales around the globe.</p> <p>However, Rowling hasn't taken any of her success for granted. &quot;Talent and intelligence never yet inoculated anyone against the caprice of the fates,&quot; she warned the <a href="http://news.harvard.edu/gazette/story/2008/06/text-of-j-k-rowling-speech/">Harvard Class of 2008</a> when she received her honorary degree at that institution. By citing her short-lived marriage, jobless situation, single-parent status, and dependency on welfare, she stated that some failure in life is inevitable and impossible to avoid. The trick is to have the humility to plan ahead and set yourself up to be able to survive the vicissitudes of life.</p> <p><strong>Money Lesson:</strong> Nobody is invincible, life happens. Sometimes your carburetor goes bust or your kid decides to test the water resistance of your laptop. Don't become part of the 67% to 75% of U.S. households that <a href="http://www.fool.com/investing/general/2016/05/28/a-staggering-number-of-us-households-cant-cover-a.aspx">can't cover a $1,000 emergency expense</a>; build an emergency fund that can help during a cash crunch. Also, if you're the sole or main breadwinner of your household, invest in life insurance to prevent a financial crisis for your dependents in case you're no longer in the picture. Realize that today is the cheapest that your life insurance will ever be.</p> <h2>2. Pay With Cash More Often</h2> <p>Being completely skint left a heavy mark on Rowling. In an <a href="https://www.theguardian.com/books/2015/nov/28/conversation-lauren-laverne-jk-rowling-interview">2015 interview</a> she confessed, &quot;I hate not having cash on me, and that's definitely a connection to having been on benefits and, you know, just watching my cash dwindle through the week and praying it will last.&quot;</p> <p>The empirical evidence suggests that Rowling is doing the smart thing by sticking to cold hard cash as often as possible to make her purchases:</p> <ul> <li>Credit card users spend 12% to 18% more than those using cash;<br /> &nbsp;</li> <li>Diners at McDonald's using plastic spend an average of $7 while those using cash spend an average $4.50;<br /> &nbsp;</li> <li>States with highway tolls realize that they can get away with charging more to credit card users than cash users; and<br /> &nbsp;</li> <li>Credit card users were willing to pay more than twice as much on average as cash users for basketball tickets in a study.</li> </ul> <p><strong>Money Lesson:</strong> While a credit card can help you build your credit score, cash can help you to stick to your budget and hold you back from spending more than you have to. Start paying with cash more often. (See also: <a href="http://www.wisebread.com/top-6-reasons-why-using-cash-only-rocks?ref=seealso">Top 6 Reasons Why Using Cash-Only Rocks</a>)</p> <h2>3. Seek Professional Advice</h2> <p>In a world of memorable characters, Hogwarts Headmaster Albus Dumbledore is sure to stand out. Whether it's due to being the founder of the Order of the Phoenix or having a fondness for sherbet lemon and knitting patterns, Dumbledore just can't be ignored. In <a href="http://amzn.to/2dPCGBZ">Harry Potter and the Sorcerer's Stone</a>, he explains to Harry, &quot;Humans do have a knack for choosing precisely the things that are worst for them.&quot;</p> <p>From the many bad choices that Fred and George make throughout the entire series, you can clearly see that both muggles and wizards have a tendency to make poor decisions, particularly when it comes to making money. Remember the bet with Ludo Bagman? Throughout the Potter series, Rowling clearly suggests the importance of seeking out others for advice and help. (See also: <a href="http://www.wisebread.com/21-personal-finance-lessons-from-harry-potter?ref=seealso">21 Personal Finance Lessons From Harry Potter</a>)</p> <p><strong>Money Lesson:</strong> From executing an estate to pulling out a tree from your backyard, there are many <a href="http://www.wisebread.com/4-times-you-should-splurge-and-hire-a-pro">times you should splurge and hire a pro</a>. Hiring a professional doesn't just help you minimize the potential to cause physical or financial damage, but also prevents you from making bad decisions due to a lack of information. When it comes to finances, you'll often find it's a good idea to seek out the help of a financial adviser as your unique financial situation becomes more complex due to many instances, including a large inheritance, closeness to retirement age, or setup of a trust with relatives. (See also: <a href="http://www.wisebread.com/who-to-hire-a-financial-planner-or-a-financial-adviser?ref=seealso">Who to Hire: A Financial Planner or a Financial Adviser?</a>)</p> <h2>4. Save for Retirement</h2> <p>In the same 2015 interview, Rowling shared the following anecdote:</p> <p>&quot;I met a man a couple of years ago who had grown up with a huge amount of money. And he said to me in passing, 'You know, money is not the most important thing.' Which is both true, and profoundly ignorant. Because when you have no money, it is absolutely the most important thing. Only someone who has never had to worry can make a statement like that.&quot;</p> <p>This is a strong call as to why you need to start saving for retirement or strengthen your nest egg even more. In 2016, 26% of U.S. workers have <a href="https://www.ebri.org/pdf/briefspdf/EBRI_IB_422.Mar16.RCS.pdf">less than $1,000</a> saved for retirement. This trend is particularly troubling among Millennials: 40% of Millennials say they <a href="http://money.usnews.com/money/personal-finance/articles/2016-05-27/who-needs-a-retirement-plan-apparently-not-millennials">don't have a retirement income strategy</a> in place and 57% of them report they haven't even begun saving yet. As Rowling indicates, money isn't everything &mdash; but it'll surely become the most important thing when you don't have enough during your retirement years.</p> <p><strong>Money Lesson:</strong> In 2016 and 2017, you can contribute each year up to $18,000 ($24,000 if age 50 and over) to your 401K and up to $5,500 ($6,500 if age 50 and over) to your IRA. Make your very best effort to take advantage of those high limits by increasing your monthly contributions, taking advantage of windfalls, and maximizing employer matches. Remember that contributing to retirement accounts effectively reduces your tax liability every year and defers applicable income taxes until retirement when you're more likely to be in a lower tax bracket. It's never too late to start saving for retirement, and it ain't over till it's over! (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> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/4-money-lessons-we-can-learn-from-jk-rowling">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/5-money-mistakes-to-stop-making-by-50">5 Money Mistakes to Stop Making by 50</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-best-money-management-tips-from-john-oliver">7 Best Money Management Tips From John Oliver</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/ow-do-you-deal-with-family-members-who-are-bad-at-managing-money">How Do You Deal With Family Members Who Are Bad At Managing 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/6-money-lessons-we-can-learn-from-gilmore-girls">6 Money Lessons We Can Learn From &quot;Gilmore Girls&quot;</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entertainment advice harry potter jk rowling lessons money management rags to riches retirement success stories Thu, 13 Oct 2016 09:00:08 +0000 Damian Davila 1811797 at http://www.wisebread.com 5 Lessons That Teach Your Kid to Be Their Own Boss http://www.wisebread.com/5-lessons-that-teach-your-kid-to-be-their-own-boss <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-lessons-that-teach-your-kid-to-be-their-own-boss" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/kids_lemonade_stand_000082855427.jpg" alt="Kids learning lessons that teach them to be their own boss" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Even if you don't want &mdash; or expect &mdash; your child to be in business for themselves, fostering an entrepreneurial spirit can be beneficial in many ways. Strong leadership skills and confidence can go a long way, no matter what career path your child ends up pursuing.</p> <h2>1. Teach Kids the Importance of Passion and Purpose</h2> <p>Ask your child what their wildest dreams are, and what they would do for the rest of their lives, even if it didn't make much money. The point is to see what they are passionate about. While not every passion of theirs will be profitable, it is important for them to pursue something they love so that they don't experience burn out later in life.</p> <p>Teach them to chase fulfillment rather than a filled wallet. For example, if they are really interested in being an EMT and helping people, but choose to pursue being a lawyer because it means more money, then they will feel unsatisfied with their lives no matter how much money they make.</p> <h2>2. Goal Setting Is a Must</h2> <p>Setting goals is more than just picking random resolutions in the beginning of the year. The act of goal setting is essential for developing discipline and giving a child the first taste of success.</p> <p>What kind of goals can your children have? Start with goals that center around what your children love and find interesting. For example, if your child loves to read or is on the soccer team, set slightly challenging goals that they will enjoy working at, such as reading two books in a week or scoring goals in consecutive games.</p> <p>As your children become more interested in goal setting, set goals for their weaker areas, such as getting an A or B on the next math test or keeping their room clean for a week. Your child will understand that continually setting goals helps shape them into the person they wish to be &mdash; and it can be fun. Goal setting can dramatically improve every area of an individual's life, so don't underestimate the importance of it.</p> <h2>3. Encourage Creative Thinking and Problem-Solving</h2> <p>When your child comes to you with a complaint or problem, encourage them to think outside the box on how to solve it. Maybe their problems include keeping their lunch warm or dealing with another kid who teases them at school. Brainstorm possible solutions to each problem, encouraging both logical and off-the-wall solutions.</p> <p>Some of the most successful people today are individuals that solved a problem with a unique or out-of-the-box idea.</p> <h2>4. It's Never Too Early to Teach Networking</h2> <p>Effective communication skills are essential for building up relationships. Kids naturally think and talk about themselves all of the time. Many adults have this same problem, too. The issue with this is that they miss opportunities to connect and learn from others. Encourage your children to ask others thought-provoking and non-invasive questions that others will love to answer. Have your children try these simple questions out on adult family members and family friends:</p> <ul> <li>What is your favorite thing about your job?<br /> &nbsp;</li> <li>What would you tell your x-year-old self (using your child's age)?<br /> &nbsp;</li> <li>What do you wish you learned in school if you could learn anything?</li> </ul> <p>These questions are meant to teach your children how to engage others in a thoughtful discussion, while practicing deeper listening skills. They might even learn something along the way. Sadly, most teens and young adults are well-versed in text messaging and social media, but cannot effectively network in person.</p> <h2>5. Get Hands-On Experience</h2> <p>While teaching goal setting and effective communication are essential, it is also important to jump into a small business to get hands-on experience. The business does not have to be the next greatest thing or one that is time-consuming. Try starting a weekend lawn service, pet walking service, or a mobile car washing business. Be sure to understand the child labor laws and income limits for your area before starting.</p> <p>The goal is to have your child to think about advertising, gaining clients, keeping clients, and working hard. While making a few bucks on the side will be a great incentive for your child, the real lessons come from doing. Even a failed business will teach your child or teen valuable lessons.</p> <p>Growing an entrepreneurial spirit in your child is a slow and steady process. Schools are so great at teaching children how to read and do complicated math equations, but when it comes to fostering an entrepreneurial spirit, many schools do not even touch on those valuable lessons. (See also: <a href="http://www.wisebread.com/7-places-teens-and-adults-can-learn-about-money?ref=seealso">7 Places Teens (And Adults) Can Learn About Money)</a></p> <p><em>How have you helped encourage an entrepreneurial and business-savvy spirit in your child or teen? </em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="http://www.wisebread.com/5-lessons-that-teach-your-kid-to-be-their-own-boss">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-reasons-to-add-your-teen-as-an-authorized-user-on-your-credit-card">4 Reasons to Add Your Teen as an Authorized User on Your Credit Card</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/should-your-kids-contribute-to-family-money-goals">Should Your Kids Contribute to Family Money Goals?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-get-college-kids-home-for-the-holidays-for-cheap">6 Ways to Get College Kids Home for the Holidays for Cheap</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/23-recipes-for-slime-your-kids-can-make-and-even-sell">23 Recipes for Slime Your Kids Can Make — and Even Sell!</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-help-your-kid-build-their-first-budget">How to Help Your Kid Build Their First Budget</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship Family creative thinking entrepreneurial skills finding passion goal setting jobs kids lessons teens Tue, 12 Apr 2016 09:00:07 +0000 Ashley Eneriz 1687116 at http://www.wisebread.com 10 Financial Lessons We Learn From Our Grandparents http://www.wisebread.com/10-financial-lessons-we-learn-from-our-grandparents <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-financial-lessons-we-learn-from-our-grandparents" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/family_gardening_000036914124.jpg" alt="Child learning financial lesson from grandparent" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Depending on your age and circumstances, it's likely your grandparents' relationship with money was forged by some different (and probably tougher) financial times. My own grandparents have been gone for decades now, but their lifestyles were studies in frugality and sharp financial management that I remember to this day. In honor of all the grandmas and grandpas out there, here are ten financial lessons we've learned from our grandparents:</p> <h2>1. Pay Cash</h2> <p>My grandmother never owned a credit card. She paid cash for everything and tracked every nickel in little paper passbooks. We found dozens of them when she died. She was meticulous. She was frugal. And she was always in the black.</p> <h2>2. Take Care of Your Stuff</h2> <p>Today, we live in a throw-away culture where it's easy and relatively cheap to replace most things we own. Not so for our grandparents. Every item was considered an investment, and therefore, everything was diligently cleaned, waxed, oiled, painted, patched, and repaired. Their stuff lasted forever &mdash; and that saved money.</p> <h2>3. Have Practical Skills</h2> <p>Doesn't it seem like our grandparents' generation was filled with renaissance men and women? My grandfather farmed, raised livestock, built his own house, repaired machinery, and &mdash; I kid you not &mdash; divined for water using the twigs of a willow tree. With that level of skill, I wonder if he ever needed to hire anyone to do anything. Today, developing <a href="http://www.wisebread.com/20-great-frugal-skills-and-how-to-get-them">frugal skills</a> is still a great way to build self-reliance and save money.</p> <h2>4. Get Creative</h2> <p>Folks who grew up during the Great Depression had to channel their inner creativity to survive. Their ingenuity helped them feed their families, earn an income, keep their kids clothed, and maybe stash a few bucks on the side. It's the same today; discovering <a href="http://www.wisebread.com/25-ways-to-boost-creativity">ways to boost creativity</a> can still positively impact our budgets and keep us engaged and inspired.</p> <h2>5. It's Better to Own</h2> <p>With few exceptions, it's better to own than rent, especially during tough economic times. Access to money-producing assets (land, a house, a paid-off car, and the like) helped many generations survive and build wealth.</p> <h2>6. Save for a Rainy Day</h2> <p>No offense Suze Orman, but our grandparents and great grandparents invented the emergency fund. The idea of saving up for a rainy day is just smart financial strategy. Because our grandparents lived through some very lean years, they never allowed themselves to be lulled into thinking that today's prosperity guarantees tomorrow's.</p> <h2>7. Get Dirty</h2> <p>Our grandparents taught us that, if we're lucky enough to have a little plot of land, we better put it to work by planting a garden. Gardens stretch our grocery budgets, promote healthier eating, and get us moving in the great out-of-doors. Few activities pack such a holistic health punch. (See also: <a href="http://www.wisebread.com/the-only-4-things-a-vegetable-garden-needs?ref=seealso">4 Things a Vegetable Garden Needs</a>)</p> <h2>8. Live Together</h2> <p>No&hellip;not in that way. In earlier generations, it was more common for households to include mom and dad, their kids, and grandma and grandpa. More people living under one roof through these multi-generational arrangements meant more child care resources, more household help, and more sources of income.</p> <h2>9. Keep Your Wants Under Control</h2> <p>Slowly creeping wants can easily choke our budgets. Our grandparents were able afford what they needed by keeping their wants modest and entirely flexible.</p> <h2>10. Small Luxuries Are Still Luxuries</h2> <p>Even our grandparents' generation knew it: <a href="http://www.wisebread.com/8-little-luxuries-that-go-a-long-way">little luxuries</a> now and then are good for the soul. But pampering doesn't have to cost a fortune. An afternoon off, a leisurely meal out, a mid-day nap all sound quaint by today's standards. But with the right frame of mind, they can still feel indulgent and be entirely therapeutic.</p> <p>The weird thing is, we are (or will soon be) the grandparents of tomorrow. The economic times we've recently weathered have already left their mark on how we spend, save, and invest.</p> <p><em>What money lessons will you pass along to your grandchildren? Which ones are all your own and which have been revived from your grandparents' generation?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kentin-waits">Kentin Waits</a> of <a href="http://www.wisebread.com/10-financial-lessons-we-learn-from-our-grandparents">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/should-your-kids-contribute-to-family-money-goals">Should Your Kids Contribute to Family Money Goals?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-help-your-kid-build-their-first-budget">How to Help Your Kid Build Their First Budget</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-money-saving-habits-you-should-never-apologize-for">10 Money-Saving Habits You Should Never Apologize For</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/my-2016-budget-challenge-what-to-do-with-a-totaled-car">My 2016 Budget Challenge: What to Do With a Totaled Car</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/why-you-need-to-make-financial-habits-not-goals">Why You Need to Make Financial Habits, Not Goals</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living family grandparents lessons saving money Tue, 05 May 2015 11:00:29 +0000 Kentin Waits 1407934 at http://www.wisebread.com Ask the Readers: What Is the Best Lesson You Learned From Your Mom? http://www.wisebread.com/ask-the-readers-what-is-the-best-lesson-you-learned-from-your-mom <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/ask-the-readers-what-is-the-best-lesson-you-learned-from-your-mom" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/family-89794606.jpg" alt="mother and daughter" title="mother and daughter" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p><em>Editor's Note: Congratulations to <a href="http://www.wisebread.com/ask-the-readers-what-is-the-best-lesson-you-learned-from-your-mom#comment-748060">Liz</a>, Pam, and Susan for winning this week's contest!</em></p> <p>We learn so much from the people who raised us &mdash; for better or worse! With Mother's Day just around the corner, let's talk about the things we learned from mom.</p> <p><strong>What is the best lesson you learned from your mom?</strong> Is it something you appreciated at the time, or did you resist as children do? Do you make it a point to pass on the lesson to your kids &mdash; or anyone else?</p> <p>Tell us about the best lesson you learned from your mom and we'll enter you in a drawing to win a $20 Amazon Gift Card!</p> <h2>Win 1 of 3 $20 Amazon Gift Cards</h2> <p>We're doing three giveaways &mdash; here's how you can win!</p> <h3>Mandatory Entry:</h3> <ul> <li>Post your answer in the comments below. One commenter will win a $20 Amazon Gift Card!</li> </ul> <h3>For extra entries:</h3> <ul> <li>You can tweet about our giveaway for an extra entry. Also, our Facebook fans can get an extra entry too! Use our Rafflecopter widget for your chance to win one of the other two Amazon Gift Cards:</li> </ul> <p><a id="rc-79857d96" class="rafl" href="http://www.rafflecopter.com/rafl/display/79857d96/" rel="nofollow">a Rafflecopter giveaway</a></p> <script src="//widget.rafflecopter.com/load.js"></script></p> <p><strong>If you're inspired to write a whole blog post OR you have a photo on flickr to share, please link to it in the comments or tweet it.</strong></p> <h4>Giveaway Rules:</h4> <ul> <li>Contest ends Monday, May 12th at 11:59 p.m. Pacific. Winners will be announced after May 12th on the original post. Winners will also be contacted via email.</li> <li>You can enter all three drawings &mdash; once by leaving a comment, once by liking our Facebook update, and once by tweeting.</li> <li>This promotion is in no way sponsored, endorsed or administered, or associated with Facebook.</li> <li>You must be 18 and US resident to enter. Void where prohibited.</li> </ul> <p><strong>Good Luck!</strong></p> <div class="field field-type-text field-field-blog-teaser"> <div class="field-items"> <div class="field-item odd"> Tell us about the best lesson you learned from your mom and we&#039;ll enter you in a drawing to win a $20 Amazon Gift Card! </div> </div> </div> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/ask-the-readers-what-is-the-best-lesson-you-learned-from-your-mom">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/ask-the-readers-hamburger-what-to-do-with-it-a-chance-to-win-20">Ask the Readers: Hamburger, What to Do With It? (A Chance to win $20!)</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/ask-the-readers-have-you-ever-re-gifted">Ask the Readers: Have You Ever Re-Gifted?</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/ask-the-readers-should-kids-get-paid-for-doing-chores">Ask The Readers: Should Kids Get Paid For Doing Chores?</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/ask-the-readers-how-did-you-spend-your-first-paycheck">Ask the Readers: How Did You Spend Your First Paycheck?</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/ask-the-readers-what-is-your-new-years-resolution">Ask the Readers: What Is Your New Year&#039;s Resolution?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Giveaways Ask the Readers lessons mothers Tue, 06 May 2014 09:12:15 +0000 Ashley Jacobs 1137922 at http://www.wisebread.com Best Money Tips: Money Lessons to Teach Kids in High School http://www.wisebread.com/best-money-tips-money-lessons-to-teach-kids-in-high-school <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-money-lessons-to-teach-kids-in-high-school" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/teen-school-3790886-small.jpg" alt="high school" title="high school" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some awesome articles on money lessons to teach kids in high school, phrases that kill resumes, and how to stop stressing over money.</p> <h2>Top 5 Articles</h2> <p><a href="http://bargainbabe.com/8-money-lessons-to-teach-kids-in-high-school/">8 Money Lessons to Teach Kids in High School</a> &mdash; It is important for high school students to learn that compound interest is their friend. [Bargain Babe]</p> <p><a href="http://www.freemoneyfinance.com/2009/07/ten-phrases-that-kill-resumes.html">Ten Phrases that Kill Resumes</a> &mdash; Did you know the phrases &quot;team player&quot; and &quot;strong work ethic&quot; can kill your resume? [Free Money Finance]</p> <p><a href="http://www.mainstreet.com/article/money/investing/why-you-stress-over-money-and-how-stop">Why You Stress Over Money and How to Stop</a> &mdash; If you want to stop stressing about money, track what you earn and spend. [MainStreet]</p> <p><a href="https://www.mint.com/blog/how-to/outdoor-diy-projects-to-brighten-your-backyard-0713/">Outdoor DIY Projects to Brighten Your Backyard</a> &mdash; To brighten up your backyard, consider making your own hammock. [MintLife Blog]</p> <p><a href="http://andthenwesaved.com/free-kid-activities/">50 (More!) Free (Or Cheap) Kids Activities</a> &mdash; Have some free fun with your kids by going bird watching or writing letters to soldiers. [And Then We Saved]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.goodfinancialcents.com/ways-to-talk-to-your-kids-about-debt/">19 Ways to Talk to Your Kids About Debt</a> &mdash; When talking to your kids about debt, relating it to a concept they already understand can help them get a solid grasp on what debt is. [Good Financial Cents]</p> <p><a href="http://freefrombroke.com/why-isnt-my-house-selling-how-to-get-house-sold/">Why Isn't My House Selling and How to Finally Get Your House Sold</a> &mdash; Your house may not be selling if it's cluttered inside or your real estate agent sucks. [Free Money Wisdom]</p> <p><a href="http://www.girlsjustwannahavefunds.com/choosing-the-right-point-in-your-career-to-start-a-family/">Choosing the Right Point in Your Career to Have a Family</a> &mdash; It is easier to return to the workforce the earlier in life you have kids. [Girls Just Wanna Have Funds]</p> <p><a href="http://parentingsquad.com/node/2324">How to Get Your Kids to Behave in the Grocery Store</a> &mdash; If you want your kids to behave at the grocery store, let them watch Sesame Street on your phone using YouTube. [Parenting Squad]</p> <p><a href="http://www.savvysugar.com/Free-Adult-Birthday-Party-Printables-30970617">7 Free Grown-Up Party Printables</a> &mdash; Are you throwing a party? Consider downloading some free cocktail party printable invitations. [PopSugar Smart Living]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-money-lessons-to-teach-kids-in-high-school">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/having-a-baby-nine-financial-considerations-for-new-parents">Having a baby? Nine financial considerations for new parents</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-much-should-your-kids-know-about-your-finances">How Much Should Your Kids Know About Your Finances?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/review-of-the-money-mammals-dvd-for-children">Review of The Money Mammals DVD for Children</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/this-season-give-your-child-the-gift-of-fiscal-responsibility">This Season, Give Your Child the Gift of Fiscal Responsibility</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-celebrities-with-shockingly-low-net-worths">6 Celebrities With Shockingly Low Net Worths</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips high school kids lessons money Wed, 17 Jul 2013 10:00:42 +0000 Ashley Jacobs 980649 at http://www.wisebread.com Best Money Tips: Money Lessons From Star Trek http://www.wisebread.com/best-money-tips-money-lessons-from-star-trek <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-money-lessons-from-star-trek" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/star-screen-4081858-small.jpg" alt="stars" title="stars" class="imagecache imagecache-250w" width="250" height="166" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some fantastic articles on money lessons from the new Star Trek, budget travel 101, and sending your child to preschool for less.</p> <h2>Top 5 Articles</h2> <p><a href="http://money.msn.com/saving-money-tips/post.aspx?post=5cfae984-bdf0-44b2-904e-48403e2c8a99&amp;ref=bfv">12 Money Lessons From the New Star Trek</a> &mdash; Learn a couple lessons from Star Trek by staying in shape and remembering that sometimes intuition should rule. [MSN Money]</p> <p><a href="http://www.moneytalksnews.com/2013/05/15/budget-travel-101-how-to-see-more-for-less/">See More for Less: Budget Travel 101</a> &mdash; You can see more for less when traveling if you take advantage of free walking tours. [Money Talks News]</p> <p><a href="http://www.mytwodollars.com/2007/05/01/creative-ways-you-can-afford-preschool-for-your-toddler/">Creative Ways You Can Afford Preschool For Your Toddler</a> &mdash; Check to see if there are any state or federal assistance programs that can help lower the cost preschool for your child. [My Two Dollars]</p> <p><a href="http://www.moolanomy.com/6388/mini-tasks-to-improve-your-finances-one-step-at-a-time/">50+ Mini-Tasks to Improve Your Finances One Step at a Time</a> &mdash; To improve your finances, ask for a pay raise and sell your unwanted stuff. [Moolanomy]</p> <p><a href="http://www.kiplinger.com/article/investing/T047-C011-S001-5-better-investments-than-the-lottery.html">5 Better Investments Than the Lottery</a> &mdash; Instead of investing in a lottery ticket, invest in a taxable account instead. [Kiplinger]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.savvysugar.com/Studies-Share-What-Affects-Income-30523148">12 Reasons Why You Aren't Earning More, According to Science</a> &mdash; Your gender and weight may be keeping you from earning more money. [PopSugar Smart Living]</p> <p><a href="http://www.freemoneyfinance.com/2013/05/target-investment-mix-at-age-50.html">Target Investment Mix at Age 50</a> &mdash; If you are between the ages of 45 and 54, you may want 39% of your investment mix to be in U.S. stocks. [Free Money Finance]</p> <p><a href="http://www.bargaineering.com/articles/zip-code-marketing.html">What Does Your ZIP Code Say About You?</a> &mdash; Did you know your ZIP code enables marketers to profile you and send you marketing items? [Bargaineering]</p> <p><a href="http://www.creditsesame.com/blog/can-a-first-time-buyer-get-a-jumbo-loan/">Can a First-Time Buyer Get a Jumbo Loan?</a> &mdash; First-time buyers may have a chance of getting a jumbo loan if their debt to income ratio is less than 42%. [Credit Sesame]</p> <p><a href="http://parentingsquad.com/7-books-to-help-expand-your-child-s-world-view">7 Books to Help Expand Your Child's World View</a> &mdash; Expand your child's world view by having him or her read the book <em>One World One Day</em>. [Parenting Squad]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-money-lessons-from-star-trek">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-celebrities-with-shockingly-low-net-worths">6 Celebrities With Shockingly Low Net Worths</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-52-money-mistakes-you-need-to-stop-making">Flashback Friday: 52 Money Mistakes You Need to Stop Making</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-dumb-places-you-re-leaving-your-money">6 Dumb Places You’re Leaving Your 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/what-ive-been-trying-to-say">What I&#039;ve been trying to say</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dissecting-gift-guilt-when-does-receiving-a-gift-make-you-feel-bad">Dissecting &quot;Gift Guilt&quot; - When Does Receiving a Gift Make You Feel Bad?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips lessons money Star Trek Mon, 20 May 2013 10:00:31 +0000 Ashley Jacobs 974177 at http://www.wisebread.com Best Money Tips: Money Lessons from Santa http://www.wisebread.com/best-money-tips-money-lessons-from-santa <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-money-lessons-from-santa" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/4249782691_ce5b166fce_z.jpg" alt="Money Lessons from Santa" title="Money Lessons from Santa" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some awesome articles on money lessons from Santa, holiday events that won't tax your wallet, and saving by doing little things.</p> <h2>Top 5 Articles</h2> <p><a href="http://www.thecentsiblelife.com/2012/12/money-lessons-from-santa/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+TheCentsibleLife+%28the+centsible+life%29">Money Lessons from Santa</a> &mdash; Learn a lesson from Santa and remember that staying on the &quot;good&quot; list (for example maintaining good credit) is important. [The Centsible Life]</p> <p><a href="http://www.fivecentnickel.com/2012/12/20/nine-cheap-holiday-events-that-won%E2%80%99t-tax-your-wallet/">Nine Cheap Holiday Events that Won't Tax Your Wallet</a> &mdash; Have some fun this holiday season without breaking the bank by going on a winter nature walk. [Five Cent Nickel]</p> <p><a href="http://www.narrowbridge.net/saving-by-doing-little-things/">4 Ways to Save by Doing Little Things</a> &mdash; Bringing your lunch to work is a little thing you can do that will save you money. [Narrow Bridge Finance]</p> <p><a href="http://livingonthecheap.com/quick-easy-edible-gifts/">9 quick and easy edible gifts for a crowd</a> &mdash; Want to give tasty treats as gifts? Consider making Rice Krispie Treats or caramel corn. [Living On The Cheap]</p> <p><a href="http://www.dinksfinance.com/2012/12/save-money-on-your-mortgage-with-these-5-tips/">Save Money on Your Mortgage with these Five Tips</a> &mdash; To save money on your mortgage, double-up your payments. [DINKS Finance]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.savvysugar.com/DIY-Christmas-Decorations-26274794">Last-Minute, Easy DIY Christmas Decor</a> &mdash; If you still need to decorate your home for Christmas, try making a wreath out of plastic bags. [SavvySugar]</p> <p><a href="http://www.freemoneyfinance.com/2012/12/price-matching-at-best-buy.html">Price Matching at Best Buy</a> &mdash; Did you know Best Buy will price match items found on Amazon? [Free Money Finance]</p> <p><a href="http://www.forbes.com/sites/financialfinesse/2012/12/20/three-steps-to-help-your-kids-grow-up-wealthy/">Three Steps To Help Your Kids Grow Up Wealthy</a> &mdash; If you want your kids to grow up wealthy, teach them virtual money lessons. [Forbes]</p> <p><a href="http://www.getrichslowly.org/blog/2012/12/16/new-life-for-old-dvd-movies-the-answers-to-scratches-and-breaks/">New life for old DVD movies: The answers to scratches and breaks</a> &mdash; If your Disney DVD gets scratched or broken, you can get it replaced through Disney's warranty. program [Get Rich Slowly]</p> <p><a href="http://parentingsquad.com/15-tips-on-healthy-eating-over-the-holidays">15 Tips on Healthy Eating Over the Holidays</a> &mdash; To eat healthy over the holidays, set limits on the amount of sweets you can eat and stick to those limits. [Parenting Squad]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-money-lessons-from-santa">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/9-things-football-teaches-us-about-money">9 Things Football Teaches Us 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/4-money-lessons-we-can-learn-from-jk-rowling">4 Money Lessons We Can Learn From J.K. Rowling</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-from-african-american-leaders">6 Money Lessons From African-American Leaders</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/money-management-lessons-not-quite-10-years-to-life">Money Management Lessons: Not Quite 10 Years to Life</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/best-of-personal-finance-41-financial-calculators-for-major-life-decisions">Best Money Tip: 41 Financial Calculators for Major Life Decisions</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips lessons santa Fri, 21 Dec 2012 11:00:31 +0000 Ashley Jacobs 960068 at http://www.wisebread.com Best Money Tips: Money Lessons From Mom http://www.wisebread.com/best-money-tips-money-lessons-from-mom <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-money-lessons-from-mom" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/mommy_girl_money.jpg" alt="Money Lessons From Mom" title="Money Lessons From Mom" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some awesome articles on money lessons from mom, ways to come up with million dollar ideas, and what to look for in a bank or credit union.</p> <h2>Top 5 Articles</h2> <p><a href="http://moneyning.com/kids-and-money/four-lessons-my-mom-taught-me-about-family-and-money/">Four Lessons My Mom Taught Me about Family and Money</a> &mdash; One of the things your mom may have taught you growing up was to spend money on experiences. [Money Ning]</p> <p><a href="http://www.marcandangel.com/2011/04/25/20-ways-to-spawn-million-dollar-ideas/">20 Ways To Create Million Dollar Ideas</a> &mdash; If you want to create a million dollar idea, try looking for problems, then solving them. [Marc and Angel Hack Life]</p> <p><a href="http://money-hacks.com/5803/things-to-look-for-in-a-bank-credit-union/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+moneyhacks+%28Money+Hacks%29">Things to Look for in a Bank or Credit Union</a> &mdash; When looking for a new bank or credit union, be sure to check into their savings interest rates. [Money Hacks]</p> <p><a href="http://consumerist.com/2011/04/for-best-fuel-economy-drive-the-right-speed-for-your-engine-and-transmission.html">Find Your Car's Most Fuel Economic Speed</a> &mdash; One of the best ways to save at the pump is to figure out your car's most fuel economic speed. [The Consumerist]</p> <p><a href="http://frugaldad.com/2011/04/25/money-saving-vacation-websites/">7 Money Saving Vacation Websites (After You Purchase Your Tickets) </a>&mdash; Save money on your next vacation after you buy your tickets by checking out sites like Groupon and Living Social. [Frugal Dad]</p> <h2>Other Essential Reading</h2> <p><a href="http://parentingsquad.com/30-hard-boiled-egg-recipes">30 Hard Boiled Egg Recipes</a> &mdash; Not sure what to do with all those Easter eggs? Use them for meatball recipes! [Parenting Squad]</p> <p><a href="http://www.moneyreasons.com/2011/04/how-to-get-through-dark-times-in-life/">How To Get Through Dark Times In Life</a> &mdash; If you are going through a rough patch in life, try to fake it until you make it. [Money Reasons]</p> <p><a href="http://www.bucksomeboomer.com/6-unusual-vending-machine-products/">6 Unusual Vending Machine Products</a> &mdash; Next time you need fishing bait, try checking out a nearby vending machine! [Bucksome Boomer]</p> <p><a href="http://paulzii.tumblr.com/post/3360025995">29 Ways To Stay Creative</a> &mdash; Stay creative by listening to new music. [Life On Michigan Ave via <a href="http://lifehacker.com/#!5795121/one+line-tips-to-stay-creative">LifeHacker</a>]</p> <p><a href="http://www.getrichslowly.org/blog/2011/04/23/how-to-grow-your-first-garden/">How to Grow Your First Garden</a> &mdash; Make sure your first garden is a success by choosing the right location. [Get Rich Slowly]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-money-lessons-from-mom">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/9-things-football-teaches-us-about-money">9 Things Football Teaches Us 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/10-money-lessons-i-learned-from-dad">10 Money Lessons I Learned From Dad</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-7-most-important-financial-moments-of-your-life">The 7 Most Important Financial Moments of Your Life</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-from-african-american-leaders">6 Money Lessons From African-American Leaders</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-money-lessons-we-can-learn-from-jk-rowling">4 Money Lessons We Can Learn From J.K. Rowling</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips family finance lessons Mom Wed, 27 Apr 2011 10:00:26 +0000 Ashley Jacobs 532334 at http://www.wisebread.com Money Management Lessons: Not Quite 10 Years to Life http://www.wisebread.com/money-management-lessons-not-quite-10-years-to-life <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/money-management-lessons-not-quite-10-years-to-life" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/will.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="179" /></a> </div> </div> </div> <p><strong><a href="http://www.getrichslowly.org/blog/">JD</a> from <a href="http://www.getrichslowly.org/blog/2008/05/22/now-and-then-how-my-current-financial-situation-compares-with-a-decade-ago/">Get Rich Slowly</a> recently asked me an interesting question: Compare your personal finances today with how they were ten years ago. What have you learned?<br /></strong></p> <p>I thank my lucky stars (and the patience of my husband) that it didn’t take me quite 10 years to get a handle on my financial situation. At 29, I’m hardly what you would consider an expert, but I do usually only have to learn each lesson once before I’m on to bigger, better experiences. Getting to sleep at night without worrying about money is the ultimate sign of “making it.” Read on to see the 6 biggest lessons I’ve learned in getting there.</p> <p class="MsoNormal"><strong>Love your momma, but don’t lend her money. </strong>I’m the first to admit that my family would seem a little “close” for comfort. My parents and I live on a shared property with separate homes, and we often have to split some minor expenses (water bill, carpool costs, etc.) I maintain my position, however, that we don’t deal with loans or shared expenses bigger than what I would feel comfortable losing. I’m not about to hit my mom up for $15 or the equivalent of a bag of groceries. We usually work things out, but for the record, I’m not keeping tabs. I would suggest you do the same. (Xin Lu also has some excellent reasons <a href="/when-should-you-say-no-to-those-who-want-to-borrow-money-from-you">to keep your money</a>.) </p> <p class="MsoNormal"><strong>No wedding ring? Keep your cash. </strong>Watch an episode or two of Judge Judy, and you won’t need to read any further. There’s no court of law for some guy you just met at a bar last week, and whom you gave $1,000 for a fake hip surgery. Seriously. Unless there’s prenuptial option or you feel really confident in your pro bono abilities, courts are usually only good for splitting hairs between legally married couples with lawyers. Even then, things can get really, really messy. </p> <p class="MsoNormal"><strong>Bills are meant to be paid.</strong> You can run, and you can hide, but eventually someone pays your cell phone bill. <a href="/whats-the-best-way-to-get-out-of-debt">If it’s not you</a>, it’s the next guy, who suddenly finds there’s a 5% increase on his security deposit. Please don’t be another reason it’s harder for me to buy milk at the store. It’s just bad karma. </p> <p class="MsoNormal"><strong>Fast cash is nothing but trouble.</strong> <a href="/confessions-of-a-former-payday-loan-junkie">Cash-advance dealers</a> offer you very little in return for the service – and <a href="/why-payday-loans-from-uncle-sam-just-aren-t-worth-it">tax refund-anticipation loans</a> are very similar in practice. I know that sometimes you have to do what you have to do…. but think it over and do the math. It isn’t always the silver lining you’ve been hoping for. </p> <p class="MsoNormal"><strong>The glove box of your car is no place for your phone bill. </strong>While I’m still wading through this bad habit, I’m getting so much better. Put your bills in a safe place where you’ll be SURE to pay them on time. Better yet, use <a href="/a-one-touch-approach-to-managing-household-finances">Jason White’s method</a> of One-Touch Money Management. It takes me a long time to earn the money for that $30 late fee. </p> <p class="MsoNormal"><strong>Kids don’t cost any more than a nice car.</strong> The best thing I’ve learned is the joy and fulfillment that being a parent can bring. If I had waited to be 100% financially-stable before starting a family, I’d be doing a lot of lonely karaoke at my local beer pub instead of some of the really cool things I’m doing with my kids now. While “experts” claim that it can cost up to $93,000 per child to raise a kid (<a href="http://moneycentral.msn.com/articles/family/kids/tlkidscost.asp">see chart</a> at this link), the number is based largely on how much you make to begin with. Using that rationale, if you live a more simple life on a more simple income (and in an area of the country where it costs less to live), you can do it for far less. In actuality, it costs less to raise a kid than it costs to buy a mid-sized SUV. Add in the cost of gas, auto insurance, and maintenance/repairs, the kid is cheaper hands down. The next time you worry about how much kids cost, and how you’d rather wait until you’re more financial secure, take a look in your garage. Chances are, you’ve had it covered all along. </p> <p class="MsoNormal">My financial situation is drastically different than it was 10 years ago. After all, I had just turned 19, and had become an adult in the eyes of my state and local government. While I had always been a bit conservative in my financial decisions, I had a lot to learn. And I still do. The balance of my bank account has had little to do with “making it.” While my life is much simpler in terms of lifestyle, purchases, and the ways I spend my time, it is also much richer.</p> <p class="MsoNormal"><em>This post is a part of the <a href="http://www.moneyblognetwork.com/blog/">MoneyBlogNetwork Group Writing Project</a> focusing on personal finance retrospectives. Check out other great answers to JD&#39;s question from MBN:</em> </p> <ul> <li><a href="http://www.fivecentnickel.com/2008/05/22/stepping-back-in-time-our-life-ten-years-ago/">Stepping Back in Time: Our Life Ten Years Ago</a>. Five Cent Nickel</li> <li><a href="http://www.freemoneyfinance.com/2008/05/my-finances-10.html">My Finances 10 Years Ago and Now</a>. Free Money Finance</li> <li><a href="http://www.ncnblog.com/2008/05/22/looking-back-10-years-ago/">Looking Back: 10 Years Ago</a>. No Credit Needed</li> <li><a href="http://www.mightybargainhunter.com/2008/05/22/mbn-group-writing-project-my-finances-ten-years-back/">My Finances Ten Years Back</a>. Mighty Bargain Hunter</li> <li><a href="http://www.getrichslowly.org/blog/2008/05/22/now-and-then-how-my-current-financial-situation-compares-with-a-decade-ago/">Now and Then: How My Current Financial Situation Compares with a Decade Ago</a>. Get Rich Slowly</li> <li><a href="http://www.consumerismcommentary.com/2008/05/22/looking-back-the-difference-9-years-makes/">The Difference 9 Years Makes</a>. Consumerism Commentary</li> <li><a href="http://allfinancialmatters.com/2008/05/22/then-now-what-our-finances-looked-like-10-years-ago-compared-to-now/">What Our Finances Looked Like 10 Years Ago</a>. All Financial Matters</li> <li></li> </ul> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/linsey-knerl">Linsey Knerl</a> of <a href="http://www.wisebread.com/money-management-lessons-not-quite-10-years-to-life">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/4-money-lessons-we-can-learn-from-jk-rowling">4 Money Lessons We Can Learn From J.K. Rowling</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/6-dumb-places-you-re-leaving-your-money">6 Dumb Places You’re Leaving Your 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/afraid-of-spending-money-here-are-5-perks-of-your-phobia">Afraid of Spending Money? Here Are 5 Perks of Your Phobia</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/ow-do-you-deal-with-family-members-who-are-bad-at-managing-money">How Do You Deal With Family Members Who Are Bad At Managing 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/how-to-manage-your-money-no-budgeting-required">How to Manage Your Money — No Budgeting Required</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance lessons money management Thu, 22 May 2008 08:12:27 +0000 Linsey Knerl 2114 at http://www.wisebread.com