Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.
Catch up on some of the latest posts with this week's roundup:
3 Ways to Teach Your Kids About Money
by Katie Brewer, Your Richest Life
Parents are always trying to teach their kids the ways of the world with the hope that those kids will grow up into responsible teenagers and productive young adults. I know I do. I try to teach my daughter valuable lessons – look both ways before crossing the street, be respectful, and always say please and thank you.
The lessons we teach our kids will (hopefully) stay with them for the rest of their lives and set the foundation for who they’ll grow up to be. Wouldn’t it be great if we could instill good money values in our kids at a young age, just as we do good manners? As parents, we don’t want to see our kids endure tough times. Learning good money habits at a young age can help your children avoid financial struggles when they are older. Consider these three money lessons for kids.
10 Moves to Handle Your Personal Finances as an Entrepreneur
by Mary Beth Storjohann, Workable Wealth
As an entrepreneur, it’s up to you to bring in the money in your business. And as you know, it’s up to you to manage the money to help the business grow.
It’s no different outside of your work with your personal finances. If your own finances are in order, you’ll protect your family, reduce stress, and free up time to help you focus on your business. Take these steps to better manage your money at home.
Your Safest Investment
by Pamela Horack, Pathfinder Planning
A father wanted to teach his young daughter about money, so he took her downtown to the main branch of their bank. After opening her savings account, they were allowed to go into the vault, since he knew the manager. The manager took a large stack of one dollar bills and handed it to the little girl. “This is $1000 dollars,” he said to the wide-eyed youngster. She was amazed that she was holding that much money in her hands. How did it make her feel? “Safe,” she told me.
This true story really hits home. We all have a need to feel secure. We like calendars, schedules, systems, processes, and organization. According to Maslow’s Hierarchy of Needs, safety and security includes: personal security, health and well-being, safety net against accidents / illness and the adverse impacts, and financial security. This theory describes human motivation and growth. Each level builds on the previous one and needs to be relatively complete before one can move up to the next level.
The Power of Simplifying Your Mind
by Sophia Bera, Gen Y Planning
Between work, family, friends, and errands, we all have a lot going on. When you’re pressed for free time, even fun things like a dinner out with friends can feel like an item on a to-do list. The standard answer for “how are you?” used to be “good.” Now it’s “busy.”
Frantically trying to get everything done has become something we brag about, as if never having a moment to breathe affords you some kind of elite status at work or among your friends. You say yes to everything out of guilt, you buy more stuff in the name of “retail therapy,” and, somewhere along the way, you stopped enjoying yourself.
In the long term, constant levels of stress won’t do you any favors. No one’s going to give you a prize for having the most packed calendar, so, for your own sake, it might be time to take a hard look at where your time and money goes. When you know who and what really matter to you, and when you can say no to the things that don’t matter, you clear your physical and emotional clutter and truly simplify your life.