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What older children need to know about money
Former GRS staff writer Donna Freedman has been researching the importance of teaching children about money, and she asked if she could share some things she’s learned. This is the second of two articles on the subject. You can read the first one, about teaching younger children about money, right here. Donna writes for Money Talks News and blogs about money and midlife at DonnaFreedman.com.
Post-secondary education has never been more important. Personal finance writer Liz Weston notes that “a college degree today is what a high school diploma was 60 years ago,” i.e., the bare minimum for remaining in the middle class.
No, the American dream doesn’t cost 130K
This article is by staff writer Holly Johnson.
A few weeks ago, I was browsing the Internet with my morning coffee when a link to a write-up at USA Today caught my eye. It read “Price tag for the American dream: $130K a year.”
The article, which is based on a study conducted by researchers at Cornell University, claims that the rising costs of everything from food to housing have resulted in a new American dream that is out of reach for all but the one in eight American families who earn at least $130,000 per year. They apparently wrote a book about their study as well, in which they described the American dream as “finding and pursuing a rewarding career, leading a healthy and personally fulfilling life, and being able to retire in comfort.”
Why does the American dream suddenly cost 130K?
Money extremes: From spendthrift to tightwad to somewhere in the middle
This article is by staff writer April Dykman.
Many years ago, when I was paying off a car loan and some credit card debt, I became really frugal. Almost obsessively frugal. I looked for every possible way to save money, and I dreaded ever having to spend money.
Then one morning my husband accidently broke our coffee carafe. I helped him clean up the glass and caught myself feeling anxious about having to buy a new carafe. How much was that gonna cost?
As it turned out, only $12. That’s when I knew I had swung too far in the tightwad direction. I’d gone from not really being in control of my money to being a control freak. And it was making me miserable.
From one money extreme to the other
Using “Decisive” for your decisions
This article is by staff writer Lisa Aberle.
The older I get, the more complicated my life gets — and the harder it is for me to make decisions. Do we have anything in common there?
By far, the most complicating factor has been having children. Not that that’s a bad thing. It’s not bad, just … complicated. And since we just added another child about two weeks ago, we’re adjusting to less sleep and more laundry. So kids = sometimes hard decisions. For example, here are a few of the decisions that we’ve considered since having children:
Ask the Readers: When was the last time you went to the bank?
This article is by editor Linda Vergon.
It used to be part of everyone’s existence, like going to the grocery store once a week. You’d stand in a teller’s line and hope everyone in front of you had uncomplicated transactions. Then you’d hand over your cash and the teller would stamp your passbook to record your deposit. It all felt very solid and respectable, even sort of fun knowing you were adding to your savings.
Why you must teach your children about money
Former GRS staff writer Donna Freedman has been researching the importance of teaching children about money, and she asked if she could share some things she’s learned. This is the first of two articles on the subject. Donna writes for Money Talks News and blogs about money and midlife at DonnaFreedman.com.
While researching a magazine article on “raising money-smart kids,” I felt sorry for parents and terribly worried about their children. (Also greatly relieved that I am not raising kids today.)
The article, for Consumers Digest, ran to a few thousand words. Short form: Our children face serious money temptations and pressures, and generally receive very little useful info either from parents or schools.
What to do during the “What’s Next?” stage of finance
This article is by staff writer Kristin Wong.
When I first started writing for Get Rich Slowly, I’d just become interested in my finances. While I’ve always been frugal, I started to realize there was much more to personal finance than finding ways to save money.
Here’s where I was, financially, at that time:
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I was rebuilding my recently depleted emergency fund.
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I had just started to earn more.
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I was working hard for my money, but I had no idea how to make my money work for me. I still didn’t feel in control.
What the Fed’s monetary policy statement means for you
This article is by staff writer William Cowie.
Twice a year, the Federal Reserve’s Chair gives what amounts to the “financial state of the union” address to Congress, and it’s a good thing for everyone concerned with their finances to take five minutes or so to find out what the Federal Reserve is seeing, thinking, and about to do.
Janet Yellen delivered her latest comments a week ago, and it may be worth your while to take a few seconds out to assess what she said, because the economy is approaching another inflection point.
Change is hard: Willpower versus habit
This post is by staff writer Honey Smith.
Recently on GRS I’ve been exploring the concept of motivation. But what if you didn’t need to be motivated at all? What if you did what needed to be done automatically, without even thinking about it? You’ve probably heard a version of the saying before: We’re creatures of habit. But what are habits, exactly? How are they formed? Why are they important? And how can we form good habits (or break bad ones)?
Ask the Readers: How can we improve Get Rich Slowly?
This article is by editor Linda Vergon.
I think 2012 was the last time we “checked in” with readers to ask “How can we improve Get Rich Slowly?” Last week, we asked the Facebook readers what they thought, and we got some great comments. Jenny Fox wrote that “The personal stories are always good to read and you have excellent, thought-provoking articles, so carry on with that!”
A few people would like to get rich quickly, but at least 15 people agreed with Jason Dotson’s suggestion:
If only.
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