Helping Kids Get Started With Investing — 3 Common Mistakes
Over the last several years, I’ve been doing a lot of thinking about teaching kids how to invest. There is so much potential good that could come about by getting kids started with investing as soon as possible. In a practical sense, they have an abundance of one of the most important ingredients for compounding […]
Profitable Ideas: Profiting by Pausing, Quitting the Comparison Game, and More
Weekly roundup of recommended personal finance articles from around the web. I’m trying a waiting period and I like it (MoneyNing). There’s power in a pause. The case for financial literacy education (NPR). It’s helpful when schools teach about personal finance, but parents are the best teachers for this topic. Credit card rewards programs can […]
Tough Money Conversations With Kids
If you’re going to help your kids learn about money, getting them started is one thing; keeping them going is another. Motivation can wane. That’s what seemed to be happening the other night with one of our kids when he opened up a conversation about investing. Don’t get me wrong. It’s not like the wheels […]
Profitable Ideas: The Urge to Merge, When a 4.5% CD Trumps a 5% CD, and More
Weekly roundup of recommended personal finance articles from around the web. Married couples who merge finances may be happier, stay together longer (Science Daily). The research is in: “Married couples who have joint bank accounts not only have better relationships, but they fight less over money and feel better about how household finances are handled.” […]
Teaching Children the True Power of Work
I had the most remarkable experience the other day. An arborist I had made an appointment with called to say he was running early and asked whether that was okay. It was. When I met him, he was the nicest guy, and he was clearly very knowledgeable about trees. He quickly alleviated some concerns my […]
Profitable Ideas: Bank Safety, Financial Decisions You’ll Regret, and More
Weekly roundup of recommended personal finance articles from around the web. About half in U.S. worry about their money’s safety in banks. (Gallup). The banking crisis is weighing on a lot of people’s minds. See also, Is Your Money Safe? (Sound Mind Investing). You’re about to pay $300,000 for college. What’s another $3,000 in […]
Teaching Your Kids How to Plan Their Use of Money
People who don’t use a budget often cringe at the mere mention of the word. They think of a budget as something you go on, like a diet. “We can’t go skiing this winter—we’re on a budget.” They think of a budget as being about less—less freedom less spending, and less fun. But a budget […]
Profitable Ideas: The Heart of Generosity, Raising Savers, and More
Weekly roundup of recommended personal finance articles from around the web. Giving from the heart really matters (Eternal Perspective Ministries). I love this article. There’s something very inspiring about young kids who develop hearts of compassion and put that compassion into action. Three ways to teach your kids to save money (Kiplinger). Some good examples […]
Raising the Next Generation of Diligent Workers
Whatever you do, work at it with all your heart, as working for the Lord, not for human masters, since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving. – Colossians 3:23-24 I once heard the late Habitat for Humanity ministry founder Millard Fuller tell […]
Profitable Ideas: The Money/Happiness Connection, Protecting Your Home, and More
Weekly roundup of recommended personal finance articles from around the web. Stop asking whether money buys happiness (The Atlantic). Does more money bring more happiness? It’s complicated. How to know if a rental property is a good investment (The Long Game). A good starting point for an objective evaluation. Do I need to re-visit my […]