Talking about money can be hard so use these titles to help you with those money conversations. Books are divided into sections depending on the age of your children from pre-schooler/early readers to young adult/teens.
All in Kids and Money
Momma, Here's Why You Need Life Insurance
“A woman who dies without adequate life insurance should have to come back and see the mess she created.”
Momma (and dads out there), I want to talk about life insurance for a sec. I know it’s not easy to talk about life insurance because we associate it with death and death is never an easy subject, but this is real life and part of a good financial plan is to protect your loved ones should something happen to you. I’m not an insurance salesperson but here’s my perspective on it.
How To Use A 529 Plan If Your Child Doesn't Go To College
One of the big questions that many parents ask when it comes to funding a 529 Plan is, what happens to the funds if my child doesn't end up going to college? So imagine all of these years, you’ve been saving for college. Family and friends have contributed to the account. The account has grown thanks in part to your early saving and the stock market growth. Then the time comes for your child to go to college, but they end up not needing the funds for a host of many reasons. One may be that they have received a full scholarship and have no need for the funds, or they’ve decided not to pursue the traditional 4-year university route and instead go to trade school, or they’ve decided to take a break from school so that they can figure out what they really want to do. The good news across all of these scenarios is that you don’t have to forfeit any of the funds in the 529 Account.
Why I Opened a 529 Plan Before I Even Had Kids
I opened a 529 account 3 months after my husband and I tied the knot in 2013. Call it intentional planning. Call it planned savings. Call it whatever you want, but it was just something I felt I needed to do given where we were financially. Having children also felt like our next big step after marriage.
How to Teach and Talk to Kids About Money
It's important to keep this mind especially when it comes to money. Money conversations must start at home. Parents and guardians must accept the responsibility of exposing their kids to money concepts before media and peers influence that money mindset. If there’s fear, secrecy or anger in the money conversations now, that can get carried over to adulthood.
How to Make Your Child a Millionaire Using the Child Tax Credit
In a few weeks, many families will start receiving an advance of the Child Tax Credit. This advance can mean having extra cash to help with raising dependents each month for the rest of the year. Alternatively, you can opt-out of receiving the advance payments and wait until you file your taxes next year to receive the full amount. If your income changes in 2021, there could be a possibility that you will have to repay a portion of the advance. You can head to this tool to make adjustments to the payments or other income info. Note: this tool will need to verify your ID so you’ll need to provide some sensitive information to do so.
It’s a good idea to have a plan for this money. If you have the means to and are fairly sure you won’t have major income changes to affect the payment, it may be wise to plan to invest this money for the sake of your child’s future.
In this post, we will review a few options on how you can invest the money you will receive.
Teach Kids Money Series: Financial Literacy Begins at Home with Maya Corbic
This week for our Teach Kids Money Series, we have Maya Corbic, CPA, CA from Dinarii Financial Education Academy. Maya stresses the fact that financial literacy begins at home and that parents already have the basic knowledge to teach their kids the basics of money.
4 Books to Help You Talk to Your Kids About Money
Talking to kids about money does not make money hungry kids.
I’ve been doing a lot of reflection lately about where I first started to learn about money and how best to talk to others about money. I’ve also been doing a fair amount of research and found a few books I thought were worth mentioning if you are a parent or an adult that is looking for ways to talk about money to your kids or your students. The reality is that the money conversation should start at home. It think it is the responsibility of the parent to expose kids about money concepts, otherwise, media and peers will create money influences that may lead to a distorted money mindset later on.
Gifting Stock Instead of Toys: Do's and Dont's
"No one has ever become poor by giving."
A few months ago, my husband and I were invited to a birthday party for friend's 4-year-old. Given my foray into minimalism and sustainability and personal finance, I didn't personally want to give another plastic gift. I also didn't want to give another item that they would have to maintain or would end up in the landfill a few days later. So after much research, I decided to give the gift of stock.