This morning’s expert panel looked into your financial emergencies. How can a single parent save money for college? What is the process to remove negative activity from your credit report? For answers to these questions and more watch the video clip below.
Visit msnbc.com for breaking news, world news, and news about the economy
Last week, we hit on budgeting. This week, it’s all about the future – college, yes, but also preparing for the unexpected. What does it take?
A will. When you’re a parent, you need a basic estate plan, and that means writing a will. It’s the only document that allows you to name guardians for your children, which means you’ll be able to select who will take care of them if something happens to you. If you don’t have a will, the choice may be up to the court and the rules in your state. If your financial situation is rather simple, you can make an inexpensive will on a website like LegalZoom. If things are more complicated – you have a lot of assets – you’re better off seeing an attorney. It will cost you about $1,000 for a basic estate plan, but it’s more than worth 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…
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…
What’s the best way to save for your child’s future? How do you decide which of my student loans to pay off first? How can you get rid of an unwanted timeshare? If you have a money dilemma, watch the video below for the answers — or submit a question of your own!
Visit msnbc.com for breaking news, world news, and news about the economy
Most parents don’t realize it, but one in ten children today have their identities used or abused in some way. In fact, child identity theft is one of the fastest growing segments of the crime.
You’re probably thinking that your child doesn’t have much of an identity to steal, at least not financially speaking. And you may be wondering how thieves get their hands on children’s information in the first place – after all, young children don’t often shop online, at least not with their own credit cards, and they don’t use email the way adults do. But aside from the fact that children are increasingly joining social networking sites like Facebook, which can be a hot bed for scams, you have to remember that your child has a Social Security number and card, which can easily be stolen. Add that to the fact that about a third of identity theft is perpetrated by friends or family members, and your kids are at risk. 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…
“A dear and generous family friend recently sent my three daughters $10,000 each for their college education. We live in Nevada, and want this money to cover room and board, books, and other living expenses. My daughters are in 6th, 8th, and 9th grade, so we have a little time to invest this money and make it go further once they get to college. What exactly would you do with this money?” – Kerry, Nevada
Dear Kerry,
How great would it be if every family had friends like yours! You’re right that you don’t have all that much time to invest the money — particularly for your ninth grader. So, as you decide what to do with it, I’d keep two things in mind. More…
This week, I invited Kimberly Danger, the founder of mommysavers.com, to guest post and share some ideas for entertaining your kids on the cheap this summer. Read on for her great tips.
With the school year coming to a close, moms everywhere are wondering how to keep the kids busy this summer without going broke. If you don’t have tons of money for camps and lessons, you can still keep your kids active and entertained thanks to some great in-store workshops and money-saving strategies.
Summer Reading Programs
Most community libraries host their own summer reading programs, but did you know that you can also sign up for them at a book store near you? You don’t even have to leave the house to get started. Download Barnes and Noble’s Passport to Reading form online and after your child reads eight books, bring it to a store to receive a free book. Check out the Double Dog Dare Reading Program at Borders, where kids get a free book after reading ten. More…
I know that by now, you’ve read more than a few articles about the health care reform bill. But I also know you still have questions – for one of my blog posts on WalletPop.com, I recently talked to the folks at ehealthinsurance.com, and they told me that they’ve been flooded with calls from people who are just plain confused (many are asking for “free Obama care,” in fact). So I thought I’d take a few minutes and bring you up to speed about a few changes that are going to impact families with children.
For starters, you should know that nothing about this bill is immediate. It takes awhile to get the ball rolling with a huge piece of legislation like this, and it is certainly going to take some time for the insurance companies to get acclimated. But two big changes are going to come in September, and I want you to be prepared for them. More…
Post comments, send questions, and get emails on my appearances and new site features.
Become debt free on $10 a day with this online program that works with your readiness to change.
Reinvent allowance
through
Saving,
Spending and
Sharing!
Find Jean's blog posts on specific topics:
|
|
Find Jean's blog posts on specific categories:
|
View Practical Money Skills videos, a slit of useful government, business and non-profit organizations and a blogroll of interesting web sites.
