Apr 27 2010

Joe Sangl - Teach Your Children to Save Day

We had a chance to chat with Joe Sangl on this "Teach Your Children To Save Day".  Joe is a financial expert and the author of the book "What Everyone Should Know About Money Before Entering the Real World"  Joe is all about avoiding debt, saving, and managing your finances so you can use your money to fuel the dreams God has given you.

If you ever thought, "I wish I knew 20-30 years ago what I now know about managing money" or you're struggling in this area, Joe's website has lots of great free resources and tools great for adults and children.

Apr 27 2010

Teach Your Kids to Save Money


1. Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them – even the tough ones.
2. Explain the difference between needs and wants, the value in saving and budgeting and the consequences of not doing so.
3. Set up a chore chart and give your children an allowance for completing their tasks.  Require them to save at least a small portion each week.  The three jars method, one for spending, one for saving and one for charitable contributions is a good way to impart a sense of responsibility.
4. Open up a savings account at your local bank for your children and take them with you to make deposits, so children can learn how to be hands-on in their money management

Be an example of a responsible money manager by paying bills on time, being a conscious spender and an active saver. Children tend to emulate their parents' personal finance habits.

Crown Financial Ministries has some additional advice on how to teach your kid's about money - including tithing and giving money - click here to read  more.



Today is "Teach Your Children to Save Day" ... Here are a few tips from American Bankers Association Education Foundation ...

Sep 21 2009

Christmas shopping! Ideas to keep you from overspending...

Christmas trees, wrapping paper, bows...all the trimmings are ALREADY starting to fill the stores!  If you're ready to get started on your Christmas shopping, here are some tips to help you control your spending.

1. Set a budget.

No matter when you shop, set a budget, make a list and stick to it. Don't allow yourself second thoughts about whether you're being generous enough. Gerri Detweiler, a personal finance adviser at Credit.com, says one of the greatest gifts anyone can give their family is "saving for emergencies and the future."

2. Pace yourself.

If you do all your shopping in December and use credit cards, you'll get a doozy of a bill in January. Detweiler says credit agencies' "phones start ringing off the hooks" in mid-January from people who overextended themselves during last-minute shopping. By pacing yourself throughout the fall, you're less likely to break the budget.

3. Avoid deadline shopping.

Shopping while under deadline pressure can lead to bad (read: costly) buying decisions. Even if you stick to a well-thought-out and on-budget shopping list, stores may well be out of whatever's on your list, and the alternatives may not be as appreciated or affordable.

4. Be organized.

If you start shopping early, keep a careful accounting of what you've spent and what you bought. It can be as easy to forget how much you've already gotten the kids as it is to forget you've almost broken the budget. Detweiler recommends putting all receipts in an envelope beginning with the first holiday purchase and keeping a careful accounting of spending on the outside.

5. Get plugged in.

So you don't have to wait for — or hope for — big sales to be announced, sign up for e-mail or even text-message promotions from the retailers you are most likely to buy from this season. And sign up for or check balances on rewards programs offered by debit and credit cards. There might be a free gift or deep discount available.

For the full article from USA Today, click here!

Peace and k-love, Lisa