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More money and finance tips from
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Teaching children about money
Children's collections can shape their financial skills.
You can teach your child to be financially savvy by comparing
money skills to how they collect and trade. By using a concrete
example, you help your child grasp the abstract concepts of
money. More
Retirement
You can leave your children financially secure in their retirement
years. The key is to start funding savings accounts and investments
early, letting time and interest do the rest. More
Wedding money gifts
Newlyweds often start their marriages with outstanding debt.
While using your money gifts to invest or to save for a house
is tempting, your investments will be hard-pressed to match
a 20 percent credit card debt. Your best investment is to
get rid of credit card debt first. More
Inheriting money
When you receive an inheritance, it's important to set some
financial goals. You can work up a budget and explore investment
possibilities. If the inheritance is substantial, you may
want to consider hiring an accountant, a money manager or
a lawyer. More
Area code 809: a con-artist's gold
mine
If you receive an urgent phone message
or page from an 809 area code, do not return the call, say
dozens of Mississippians who've been burned by this scam.
Unless you have loved ones in the Caribbean, chances are you're
being scammed for long distance charges, often in excess of
$100. The cons use the 809 pay-per-call area code to skirt
900 blocking -- and U.S. authorities. More
Let the efficient light shine in
Try the new generation of compact fluorescent
light bulbs. They use 70-percent less electricity and last
up to 10 times longer than incandescent light bulbs. They
screw into the same sockets and produce the same quality of
light as incandescents. More
CDs and money market accounts
Rather than stashing idle cash in low-yielding
checking or savings accounts, you can make better returns
-- with relative liquidity -- putting your money into short-term
certificates of deposit and/or money market accounts.
More
College financing
A college financial aid package is separate from the admission
acceptance letter. Each must be handled individually and with
equal importance. You've got to deal with both, so you'll
need to track deadlines and copies of all completed forms.
More
Stepping stones to higher education
Parents with children planning to go to college can earn attractive
yields on a laddered portfolio of four CDs (certificates of
deposit). Ladder the CDs so that one matures at the beginning
of each college year to help pay for expenses such as tuition
and books. More
High spending, low savings
Spending more and saving less is particularly detrimental
during an economic slowdown or recession. You are more likely
to rely on credit to buy essentials and pay bills due to zero
or minimal savings -- digging yourself into deeper debt. More
Moonlighting can be a rewarding walk
Moonlighting can improve your lifestyle as well as financial
and professional status if done correctly. You need to start
slow, start small, network and set goals. More
Start saving now, no matter how
The most important, but least-planned, financial decision
recent college graduates make is saving for retirement. Start
now, putting aside as much for retirement as possible. Compound
interest is on your side. It's an opportunity you'll never
regain. More
Preplan your funeral
Preplanning and prepaying for your funeral saves your family
time, stress and money. Inspect ways that costs can be prepaid,
or at least organized for payment. The plan should be portable,
refundable and an ongoing financial benefit. More
Mature savings bonds
The U.S. Treasury publishes bond maturity bulletins. If you're
holding a matured Series E bond, it isn't accruing interest
anymore. You can opt to cash out your mature bond, or if you
qualify, roll it into a Series HH bond. More
Make banks compete for your money
The online CD auction business offers a quick, easy way to
bid for the best CD rates from a wide range of institutions.
More
Defeating debt stress
Ignoring debt can ruin your marriage. You need to face your
debt realistically, and focus on constructive problem-solving.
Establish an immediate plan to reduce debt and change spending
habits, and above all don't panic when you can't see the end.
More
CDs and money market accounts
Rather than stashing idle cash in low-yielding checking or
savings accounts, you can make better returns -- with relative
liquidity -- putting your money into short-term certificates
of deposit and/or money market accounts. More
Corporate image expense
You can have a successful at-work image and leave extra money
in your pocket. The key is to spend wisely, not lavishly.
Style and savvy count for more than lavish, showy displays
of money. More
Inheriting money
When you first inherit money, it's better not to make any
major financial decisions for six months. Deal with your grief
first. Then, when you're emotionally ready, begin making financial
plans. More
High loan-to-value loans
Economic slowdowns adversely impact borrowers with high loan-to-value
(LTV) loans. Borrowers can offset economic turns by making
extra principal payments to lower the LTV as quickly as possible.
More
Set your sights on CD rates: With
our strong economy, the growth of loan demand has outpaced
the growth of core deposits. So banks are trying to attract
new sources of funding. Their solution: higher yields on certificates
of deposit. More
After grad spending
College graduation marks the point when you take full responsibility
for your financial decisions. You need to develop foremost
a lifestyle based on your net salary, not your gross. The
range of bills can be surprising, and lead to overusing credit
cards to pay for necessities. More
Finances after spouse's death
Attending to finances after a spouse's death is largely a
woman's ordeal. The spouse needs to first gather household
bills, and collect and organize the spouse's financial and
personal effects. Then handle any legal concerns, and finally
settle tax concerns. More
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