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Banking for College - I Think I Need A Bigger Bank
The college years are coming and they are costing more and more each year. As soon as your kids are born start saving for the day when they come and decide that yes indeed they do want to go to college. The money you start saving now will may be the only money you can count on as grants and scholarships albeit plenty are not a guarantee.
Teaching the Millionaires of the Future
Most kids learn the basics of money and making change in grammar school, but probably won't learn how to manage money unless they choose finance as a career path. That means it is up to all of us to see that our children reach adulthood prepared to face life's fiscal challenges. My favorite thing to hear from my kids when I told them I didn't have the cash to buy them what they wanted is 'you still have money just go to the bank and take out cash from the ATM!' This is when I knew it was time to start the basics of how money worked!
I made the choice a few years ago to open life policies for my two younger children. Some reaction's I got from my family was; why would you open life policies for your kids? To them it seemed morbid. Well, the answer is simple.
Calculators,Money Advice,Guides,& More
Remember Aesop's fable about the ant and the grasshopper?
The ant toils daily, makes sacrifices (no luxury vacations in far-flung colonies), scrimps and saves to send his larvae to college and retire. He struggles to manage and properly diversify his crumbs, tries to take appropriate risk (foraging just far enough from the nest to get results without getting devoured), and hopes the queen ant doesn't tax his stash into oblivion.
The grasshopper, meanwhile, plays his fiddle, replaces his molting exoskeleton with one by Prada every season, ignores his 401(k) plan, buys an alfalfa pasture with no money down and a subprime mortgage, and hops away when the interest rate readjusts.
Puny Savers
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