Our parents, friends, and our early experiences are our first teachers on how we handle money, and what we learned during childhood tends to stick to us as we grow up. That doesn’t mean that we can’t change for the better though. I was lucky enough to learn some excellent financial success and frugal living tips when I was a kid, and I’ll share my top 10 tips with you here.
*Contributed by Amy Nickson.
One day, your little child will face the big world all alone. As a parent, it’s your responsibility to inculcate good money lessons in them. Teach your children as to how they should manage their money and why money management is important.
How can you help your kids to become financially responsible? It is easy: Have a look:
1. Help them find a job
Children need to know that money is not easy to come by. Discuss with them why they need to work. This way they will understand the value of money and where the money comes from.
How can kids make money? Kids can make money by babysitting, starting a lemonade stand, car washing etc. But, these involve more direct money. So, the best ways in which your kids can make some money are by helping you out with your household chores. You can ask your kids to help you in cleaning the house, cooking and washing. In return, you can pay some money to your kid.
If your child loves pets, you can also allow your kids to do pet sitting or they can also become a dog walker. This is a great job for earning a little money.
2. Give them a piggy bank
You must encourage your child to save money. Tell them the importance of saving money . Gift them a piggy bank and tell them to save whatever possible.
3. Discuss financial goals with kids
Explain to your teens why it is important to set financial goals. Help them work out how much money they need to put away for achieving their goals. You can also discuss with your young adults regarding their short-term and long-term financial goals. Discuss with your children how much allowance they should spend each week and how much they must put towards short and long savings. Ask them to save money for charity as well. [Read more…]
*This article contains affiliate links.
We don’t all have the time to read a 300-page book. We might not even have a few minutes to read a 2,000-word article! If you want a short and simple guide on the basics of how to manage your money, then this article is for you!
“A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life.” – Suze Orman
Before we begin, don’t forget the GOAL of managing your money:
Financial Stability and Financial Freedom
It’s difficult to enjoy life when you’re buried in debt, worrying about where to find money to pay the bills, and when your entire family is suffering from poverty and lack. On the other hand, it’s much easier to enjoy life when you have more than enough money and resources to pay the bills, buy good food, buy entertainment, travel, help the needy, and more. It gets even easier when you no longer need to work at a nine-to-five job because your investments earn money FOR you and you have the time and resources to do the things you want WHEN you want.
That’s the goal of good financial management, and that’s what you’ll learn here.
“No one can feel easy or safe who is living from hand to mouth.” – Orison Swett Marden
*This article contains affiliate links. Take note, however, that I use all of these tools myself on YourWealthyMind.com and I won’t recommend things that I don’t really trust.
Whether you want to build your brand or business, earn money online, or to simply express yourself and your creativity, blogging is still one of the best and most accessible ways for you to publish content online. I’ve been blogging seriously for well over a year now, and these are the best blogging tools and plugins for wordpress that I personally use on YourWealthyMind.com. If you want to start your own blog, you might want to start using these yourself.
If you’re looking to get a loan, it helps to know what you plan on using it for. There are several types of loans available in the country, ranging from something that simply adds to your current funding based off of your salary, or something that requires a lot more thinking like a business loan.
It’s important to understand your options and the risks involved when borrowing money. Most loans fall under two distinct categories: Unsecured and Secured.
Secured loans require collateral, which will be used to pay back the amount borrowed should you default on the loan, while Unsecured loans require no collateral but have a higher interest rate in order to ensure prompt payment.