Our older son begins middle school today, which brought us to the realization that he’s no longer a little kid. These next few years will fly by and soon he’ll be off to high school. When it comes to raising capable adults, teaching kids how to manage their money is critical. And that’s even truer as they get closer to graduating high school and starting college when they’ll need to make more financial decisions. That’s why I feel it’s important to teach your children to be financially literate early. Today we’re sharing 5 easy steps to help you do just that!
Disclosure: This is a guest post.
When you apply for credit cards, or any financial product for that matter, you really need to know exactly what you’re signing up for. This means knowing the terms and conditions of the product before you officially sign yourself up. It’s surprising how many people are completely unaware of how their credit card account works, including the situations in which they may be charged extra fees, interest and penalties. Not knowing the basic facts about your credit card can make owning it very expensive indeed.
How much do you budget for holiday spending? Do you ever find yourself struggling to stay within the budget because of deals that are too good to pass up? Here are a few ideas of how to maintain a holiday budget:
- Use cash. There’s nothing like the “old-fashioned” way of cash-in-hand that keeps you on budget. If you can only afford x amount of dollars, then only bring that amount and you are sure to stay within your guidelines. Keep the cards at home so you’re not tempted!