Some parents may not consider allowing their young teen to get a checking account at all, but there are valid reasons why it can be good for them to have one.
A checking account can give them a chance to responsibly shine with money and teach them how to:
- use debit cards
- monitor and plan ahead for automatic payments
- use an ATM card
- write checks (should they ever need to do that)
They can learn while they are still under your direct supervision (as opposed to when they go off to college and aren’t!) » Read more
Growing up as a Gen X’er, I was always told that getting a good corporate job was the way to lifelong stability. But this never resonated well with me. I tried to make it work though. Oh, how I tried!
I wanted to be considered stable and successful, and make my family proud. But I just never felt at home in a corporate job. I always felt like those jobs were sucking the life right out of me. » Read more
Do you really know where your money goes each month? If you’re tracking your spending, you do. If you can’t say for sure, don’t automatically assume that your money just goes to “bills”. Chances are a surprising amount of it doesn’t.
And that’s why you should care
When you don’t know where your money is going, chances are you’re missing out on some great opportunities to buy and do some interesting things — especially if you’re living paycheck to paycheck.
In other words, you may be trading the things you really want for the things you want right now. But once you know where your money is going, you can redirect it to where you actually want it to go. You can do fun things. You can save for your future. You can get ahead. » Read more
Preparing for retirement is one of those things that a lot of us put off for a variety of reasons.
When we first start out in the working world, retirement seems so far away as to be almost unimaginable — and so we don’t prepare for the things we don’t imagine. As we get a little older, we start to think about it, but things like buying a house or recovering from job loss often take priority. » Read more