I know from experience that one of the hardest parts of being a working mom is finding childcare you can rely on. Leaving your child in the hands of someone else – for a whole day! – is never easy.
These days, there’s no shortage of services that will help place you with qualified, experienced caregivers. But in my opinion, the absolute best way to find someone you and your children will love is word of mouth. Talk to people you trust – other parents at the playground, your colleagues at work, or friends and relatives who have recently been through the same search. Ask them what they like about the place or person they’ve chosen, and what their children like about it. Then, sit down with your partner, if you have one, and make a list of what you’re looking for: The day-to-day duties of the job, how much you can afford to pay (the average, depending on where you live, is $10 – $15 an hour, according to www.4nannies.com), and how many hours you’ll need someone each week. More…
If you have a child either in or about to enter college, you likely know that we’re in the midst of FAFSA season. This one form – the Free Application for Federal Student Aid – gets the ball rolling on any financial aid your child may receive for school. In order to qualify for Pell grants, Stafford loans, PLUS loans, and work-study programs, you must fill it out.
Unfortunately, it’s also a form that has many parents pulling out their hair, year after year. If that’s you, I’ve compiled the top five ways to simplify the process. Much like doing your taxes, it’s never going to be painless, but these tips will certainly make it easier: More…
As parents, we all seem to struggle a bit when it comes to allowance – how much do we give, how often do we give it, and whether we should dictate, to at least some extent, how it gets spent. Read my take on the subject in this article by Bonnie McCarthy on WalletPop: New Year, new allowance rules for kids.
In 1999 Marcy Cohen started making hair clips for her daughter for fun. Today, Cohen and her sister Lori Rockoff are partners in Pea Soup, a line of children’s clothing and accessories. Read on to see how they turned their hobby into a half-million dollar a year business.
Who: Marcy Cohen and Lori Rockoff
What: Pea Soup Accessories for Kids; a manufacturer of handcrafted children’s hair clips, bows and more. You might have seen their designs on the offspring such celebs as Gwyneth Paltrow and Jennifer Garner.
When and Where: Ten years ago in Chicago, IL
How: In 1999 Marcy Cohen was working as a teacher. Her sister, Lori Rockoff was doing social work. For fun Marcy started making hair clips for her daughter and from there, Pea Soup was born. “I found myself going in my restaurants and people would stop me and say where did you get this bow…we didn’t start with a plan. We were buying materials, going to craft stores. Our first customer was a children’s hair cutting salon. We brought our items in and they placed an order.” That first order may have only $150 but the satisfaction they got from this taste of success was enough to spur them on. “We were so excited. It’s still exciting,” said Cohen.
From there, the orders only got larger. “When we first started we were the ones making the clips. We were in LA a year and a half into it when we got our first big order. It was about $1,200.” After a weekend spent on the floor of Lori’s apartment assembling the clips, More…
I have a 17-year-old daughter that will be 18 in January 2010. What type of credit card should I get her to start building credit for her?
-Christine, New York
When teens and credit cards mix, the outcome can sometimes be disastrous. But, if handled correctly, credit cards can be a great tool for teaching your college-age kid the basics of financial management.
After your daughter turns 18 in January, she may want to hussle to get that first card. Otherwise, she will need a cosigner. When another piece of the new credit card legislation takes effect on February 22nd, any person under the age of 21 will be required to have a parent to co-sign on their credit card. “Mom needs to be sure she is comfortable with co-signing, which could affect her credit score if her daughter misses a payment,” says Karen Blumenthal, author of “The Wall Street Journal Guide to Starting Your Financial Life.” If your daughter can prove that she’s making enough money to handle having her own credit card, she may be able to side-step the need for a cosigner.
When you start shopping around for a credit card, let your daughter do the work. “It’s good practice for the student to research the options–the interest rate on charges, the interest rate on any cash advances, and the fees you’ll pay if you pay late or go over your credit limit. That way, the card holder knows exactly what the terms will be,” says Blumenthal.
As you probably know, the options for credit cards can be overwhelming. To make it easy on your daughter keep things simple. “I recommend a young person apply for a plain More…
