We all know the old adage that money does not buy happiness. But why do so many people think that more money will make them happier? And why is it almost never the case the more money leads to more happiness? Mandi Woodruff addresses the answers to these questions and makes some suggestions for spending… Read More
How To Teach Children About Investing (as reported by Aparna Narayanan with The Wall Street Journal)
At what age should we start the conversation about personal finance and investing? Investment professionals share their experience from teaching their own children. The suggestions are quite varied and easily approachable; sharing bank and investment account statements, purchasing stock to explain the concept of proportional ownership, and how to tackle more abstract ideas like inflation… Read More
Selecting a Financial Adviser (as reported by Vincent King on MoneyNing.Com)
Picking the right financial adviser might be the best financial decision that you make in your lifetime. The right adviser can help guide your investment and purchasing decisions so that you can put yourself on the right track. But not all financial advisers are made equal. In his advice column, Vincent King addresses nine characteristics… Read More
Children’s Understanding of Money is Earlier than once thought (as reported by Andrew Oxlade via telegraph.co.uk)
A recent released study by Cambridge University has provided some interesting insight into how and when children learn to understand finance. The age at which these habits develop is much earlier than many might think and will have profound effects throughout their lifetimes. The evidence in support of financial literacy education early in life continues… Read More
Should I budget for that big ticket item? (as reported by MoneyTalksNews on Mint.com)
It may seem a bit counterintuitive, but based on some recent studies it appears that budgeting for high ticket items may actually lead you to pay more for them in the end! The findings suggest that people who have a dollar amount that they’re willing to pay in mind before they start shopping ignore price… Read More
The Importance of Shopping Banks (as reported by Pinyo on Moolanomy.Com)
It used to be that you did business with the local bank in your town. You didn’t have much to choose from, so you took what you could get. But in today’s world, you can choose a seemingly endless supply of banks, both online and off. So, to be truly financially responsible, it’s important that… Read More
How the Wealthy Live (as reported by Farnoosh Torabi of Finance.Yahoo.Com)
Being wealthy isn’t only about what you do with money–there are a number of things that wealthy people do more often than those who are not. And if we can try to emulate those habits and actions, we might put ourselves on the right track financially. It starts with making the best use of your… Read More
Just 10% (as reported by Melanie Hicken on Money.CNN.Com)
Strive to put away at least 10% of your income towards retirement. That’s Melanie Hicken’s advice to young adults just starting their careers after college. It’s a time in life when there may be a variety of competing financial goals, and when you don’t necessarily have the life experience to know everything you need to… Read More
Avoiding Retirement’s Financial Pitfalls (as reported by Robert Powell of Finance.Yahoo.Com)
There is a lot to think about when planning for retirement. It’s important that you do your best not to make one of several simple mistakes many new retirees make. The best thing you can do is learn to live within your means. After retirement, when you no longer have an outside source of income,… Read More
Pass on Financial Responsibility (as reported by Alex Veiga on Newsday.Com)
To help ensure that your kids will grow up to become more financially savvy, it is a good idea to start teaching them about financial responsibility early. Parents can teach their kids about the value of working for money and saving. Get them to think about purchases and prepare them for the tough financial decisions… Read More