Good financial practices don’t necessarily come quickly or automatically for many individuals. In general, the earlier a person can develop a consistent saving routine and make that a part of their normal day-to-day behavior, the more financially secure they’ll be later in life. Ideally, this means learning about personal finances during childhood.
Saving is a particularly important practice to develop. A piggy bank can be the most convenient, most straightforward and most effective way to start helping your child learn this behavior. But as soon as they’ve got the hang of putting spare change into the bank, and being able... College and kids banking, savings and checking accounts.
The Best Bank Accounts For Children
Thursday, April 16th, 2015
Good financial practices don’t necessarily come quickly or automatically for many individuals. In general, the earlier a person can develop a consistent saving routine and make that a part of their normal day-to-day behavior, the more financially secure they’ll be later in life. Ideally, this means learning about personal finances during childhood.
Saving is a particularly important practice to develop. A piggy bank can be the most convenient, most straightforward and most effective way to start helping your child learn this behavior. But as soon as they’ve got the hang of putting spare change into the bank, and being able... Tips To Manage the Increasing Cost of a College Education
Wednesday, October 2nd, 2013
If you have a child in college or headed to college soon, the rising costs may be causing you some sleepless nights. According to Bloomberg Reports, college tuition has increased 1,120 percent over the past 30 years. No other industry has experienced the same degree of price inflation.
Nor have household income levels come close to increasing at the same rates. This means that the cost of higher education is increasingly becoming something that American families are finding difficult to afford.
Here’s some banking advice to consider before you resign yourself to years of paying off student loan debt, there... Banking Advice for New Parents to Consider
Monday, June 3rd, 2013
The pending birth of a new child, particularly if it’s the first for a couple, is unquestionably a life altering event. Being a parent requires a person to take a significantly different view of the world, given the responsibilities that they have to their new child.
Parenting also requires a couple to reassess their financial position and priorities. Make no mistake about it – raising a child is an expensive endeavor, complete with an entirely new set of financial challenges. And new parents will certainly find no shortage of advice and guidance on what you might expect when it comes... The Pros and Cons of Giving a Child an Allowance
Monday, March 25th, 2013
Starting to raise a child will involve a number of changes to your financial world. Your budget will change, your spending priorities will change, and your long term financial planning will change as well.
Another aspect of your financial responsibility towards your children is teaching them about money and personal finance. There are different techniques for doing so, but many parents have found that a direct approach – actually getting children to make financial decisions for themselves – is the most effective. This has traditionally been done by giving the child an allowance each week or month.
Here are some... Should a College Age Student Have a Credit Card?
Monday, May 14th, 2012
If you’re getting ready to send your son or daughter off to college, you’ve probably worked with them to prepare a checklist of things they’ll need to take to school. Along with the various dorm room essentials, you’ll need to consider whether one of the things they’ll need at school is a credit card.
Recently passed laws have made it significantly more difficult for a college student to get a credit card on their own, unless they’re able to demonstrate an independent and adequate income. You may decide to help your child obtain their first card, but first you need... When Should Your Child Get a Savings Account?
Wednesday, May 9th, 2012
Along with “when should I start giving my child an allowance,” one of the early financial questions a parent is likely to face for their child dealing with money is likely to be when to get them their first savings account. You’d like that first savings account to be something that your child genuinely takes an interest in, so that they start wanting to save, instead of you having to constantly remind them to do so.
The answer to the question will vary for each child, of course. But there are some factors you can take into consideration when trying... Advice to Help Your Teenager Get Started With Banking
Wednesday, February 8th, 2012
Raising a child can be one of the most challenging and fulfilling aspects of an adult’s life. In your role as parent, you’ll be their primary teacher for the lessons that will help them live their own lives safely and productively.
One aspect of parenting that’s sometimes overlooked and underappreciated is giving a child a financial education. Fortunately, an increasing number of parents are starting to teach their children about money early in life. Often this takes the form of giving a weekly or monthly allowance (even if it’s just as small as $2.00), and helping the child understand the... Can You Afford to Save for Your Child’s College Education?
Wednesday, November 16th, 2011
If you have children, you probably want them to go to college one day so that they can get a good education and prepare for the profession of their choice. But college isn’t cheap, so unless you’re independently wealthy you can’t count on having the money sitting around to send them to college when the time comes. What’s a good parent to do?
Ask a financial advisor if you can afford to save to college, and he will probably tell you that you can’t afford not to. But if you’re scraping just to get by, it’s not necessarily that cut... A Banking Checklist for College Students
Monday, May 16th, 2011
The college years are a time for learning - not only about your chosen discipline, but about life in general. They’re the first time most of us are out on our own, so we’re forced to learn in a hurry how things work in the real world. We have to start budgeting our time and our money, and make sure that all of our needs are taken care of since Mom and Dad are no longer close by to help us out.
One of the most important things that a college student can do before embarking on that educational journey... Getting Kids Ready for Their First Summer Job
Tuesday, May 10th, 2011
Some kids can’t wait to get their first summer job. Others would much rather laze around all summer and let Mom and Dad take care of them. But with very few exceptions, summer jobs are good for young people. They help kids learn how to manage money and give them a sense of responsibility.
If your child is old enough to get a summer job but hasn’t mentioned it, try bringing it up in conversation. Find out what their thoughts on the subject are, and let them know what will happen if they don’t get a job. Will you cut... 
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