Anybody want a dog? I can vouch for Benjamin, the 3 year old snuggle muffin I carried onto the set. Seriously, Jill and Richard do an amazing job with all of these pups. I was tempted to take one home with me but wasn’t sure Teddy (the cockapoo in residence) would approve!
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Are working women penalized for having a family? Some working mothers have reported everything from lower wages to job loss — but is it because they’re parents? This morning on TODAY, I reported with two other working women on how you can let family life integrate with work life — and still be a successful and productive employee.
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I get a lot of questions about preparing financially for a baby. We’ve all heard that if you wait until you’re financially ready to have kids, you’ll never have any, and I think that’s good advice. But it doesn’t mean you can’t do a few things to pad your savings account before the new addition comes along. Having a baby means two things, financially speaking: You need to start preparing for the future, and you’re going to have more – and different – drains on your wallet. We’re going to tackle both, starting with how to handle and prepare for new expenses. Check back next week for part two, when I’ll cover preparing for the future.
Here are my favorite tips when it comes for budgeting for baby:
Use your pregnancy to save. This is going to be a long nine months – trust me, I’ve been there. Twice. So use it to your advantage by setting a goal to put away as much money as you can in extra savings by the time you go into labor. This is especially useful if one of you would like to become a stay at home parent – I highly suggest you “practice” living on only the income of the parent who will continue to work while you’re pregnant so you can see if it’s possible. Bank the other income for that nine months, and not only will you be able to give your new arrangement a trial run, but you’ll supercharge your savings. More…
We all know that shopping makes us feel good. It’s a scientific fact – when we see something we want, it triggers the release of feel-good endorphins and hormones that inspire us to make a purchase – something I talk about in my book, The Difference. But I know from reading many of your e-mails that, in some cases, this kind of feel-good shopping can become a real issue. When you shop compulsively – buying things you don’t need, and racking up debt – it can take a real toll on your life.
My good friend April Lane Benson, PhD, is an expert in overshopping – and how to stop. She authored a book – To Buy or Not to Buy: Why We Overshop and How to Stop – to help compulsive shoppers curb their behavior and live a financially responsible lifestyle. Recently, April let me know about a new study she’s working on to test her treatment for compulsive buyers. The treatment has been a success for more than 100 shopaholics – and it incorporates a series of steps that help to re-shape buying behavior, and keep you from falling back into a bad habit once you’ve fixed it. More…
The American Red Cross swimming program, at least as implemented at one Westchester County, NY daycamp, has discovered the secret of reaching your goals. Break ‘em into achievable benchmarks. My young friend Sasha, age 5, started camp as a non-swimmer, as did my own kids years ago. Back then, a half decade or so ago, kids had to cross a slew of items off their list to move from Level 1 to Level 2 and so on. It could take an entire summer to scale a single rung. No more. This year, within her level, Sasha has been challenged to hit a number of benchmarks within Level 1. She started as a guppie, moved to tadpole, then was a minnow, now she’s a frog. And, reports her mother, “she feels great!” More…
Lending standards have gotten tougher in the past couple of years, and banks are starting to dig a little deeper into their customer’s finances before they give out loans. However, some expecting parents are being turned down for mortgages, and credit score requirements have gotten even stricter. This morning on the Today Show, I talked with Matt Lauer about some of the surprising things that might hold you back from getting a loan — and how to prepare yourself before you apply.
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It’s not new news that kids are a big investment. According to estimates from the U.S. Department of Agriculture, it’ll cost parents anywhere between $205,460 and $475,680 to support a child born in 2009 until they’re 17 – estimates that do not include college tuition (an expense I’ll be facing in the next few years). And it’s not just money you’re expending, it’s time. The financial impact, researchers note, corresponds with the time spent on kids and their various activities.
The mother of a tennis player and a horseback rider, I know all too well what a new racket or pair of riding boots will set me back, in both minutes and dollars. But after a recent conversation with a friend, who’s three children participate in a collective 13 extracurricular activities, including (but not limited to) youth hockey, lacrosse, ballet, and swimming – I feel like I might be getting off easy. More…
The New York Times recently reported on the “silent victims of the economy” – the 16-24 year olds that are currently competing for summer employment. Facing a record 19.6 unemployment rate, this country’s youth are certainly struggling — and if your child hasn’t yet started his or her summer job search, it’s definitely time to get going! “Consistent with last summer, I’m finding that teens have to submit 10 applications to get one job offer,” says Steve Kimball of SnagAJob.com. “The competition is high.”
But that doesn’t mean there aren’t jobs out there. I asked Kimball about where there are still opportunities if your teenager hasn’t found work yet. “There are lots of sectors still hiring,” he says. More…
Who doesn’t want some extra cash? Whether you inherited your grandmother’s jewelry or no longer have a use for your designer suits, you can make money by selling things in your own closet. This morning on TODAY, I shared the stories of two women who were able to sell some of their clothes and jewelry — and also provided some tips on how to make sure you get the most out of what you have to offer. Watch the clip below!
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How can you protect yourself and your credit when your identity has been stolen? Can you avoid fees on your credit card when traveling internationally? Will marriage impact my credit score? Watch the video below from this morning’s Money 911 for the answers — and click here to submit questions of your own!
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