On Today’s Money 911 we talked about where to turn for holiday gifts for your children if you don’t have the funds. Where to look for financial help when caring for an ailing parent and how many credit cards is too many. To learn more on these topics and more watch the video clip below.
Yesterday, I spent some time talking to writer Kimberly Cole about kids and money. I thought you might like to see her post on WalletBlog.
I’m sure you’ve noticed that Halloween has become quite the expensive holiday – a pumpkin-printed garbage bag stuffed with leaves or a ghost fashioned out of a white sheet will no longer do.
And even beyond the costumes, you have the parities, decorations, and candy. All told, the average American is expected to spend $66 this year, according to the National Retail Federation.
Despite what economists say, I know that money is still tight, and that $66 could be put to better use. So here’s how to save rather than spend this year:
I bought EE savings bonds to assist with the education of my children.
Fortunately, or unfortunately, we earn too much money to qualify for the tax
savings if these were used for their educational costs. I am wondering if
there is a way to transfer ownership of these bonds to the children so that
when the bonds are redeemed, the proceeds and the tax burden are theirs.
Most of these bonds have matured but are still earning interest at a rate of
4% and are safe. Thank you.
– Anita Mann
Hi Anita. Unfortunately, there’s no way to get out of this tax burden
completely. Your best bet is to have the EE savings bonds reissued to your
children, identifying them as the co-owners of the bonds. However, if you
do that, you’ll still have to pay taxes on the interest that was earned up
until the date of the reissue. That tax bill can’t be transferred, along
with the bonds, to your children. More…
On today’s Money 911…how you can be released as a cosigner from a student loan, does a debt management plan hurt your credit, and can you afford to have kids? Tune in.
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Today I had the pleasure — really, it’s always so much fun — of appearing on Morning Joe to talk about Not Your Parents’ Money Book. I was waiting for Willie Geist to ask me (as he’d asked the prior guests) if I was a witch. He didn’t. And I’m not. But I am a Jeannie 
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This morning on Today I talked about my new book, Not Your Parents’ Money Book. I wrote it to help teach kids how to make money, save money and spend money wisely. To learn more watch the video clip below to hear what we discussed.
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Last but not least, we have a few tips from the readers of PT Money, about how they’re helping their kids form smart money habits. Don’t forget to join them tonight for the National Money Night Talk. You’ll find all the information you need – including a tool kit to help you with the talk – on that website.
My tip would be to keep a notebook or Excel spreadsheet with expenses, and keep yourself on a budget. If you notice from your spreadsheet that you’re going over budget during the month, you have time to decrease your spending so you can meet your budget goal by the end of the month. More…
To continue what I started yesterday in celebration of my new book and the National Money Night Talk, here are a few great comments from the readers of Dough Roller about how they’re teaching their kids about money:
I taught my children to take any money they get (holidays, birthdays or paychecks/money earned) and divide it into categories and assign a percentage (i.e., church contribution, savings, specific fund like vacation money or something special they want to buy) and then no matter how big or small the amount, they are contributing to their financial goals.
I was on KUSA-TV to discuss National Money Night Talk and my new book, Not Your Parents’ Money Book. Have a look at the video clip below to hear what I discussed.
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