You’re always trying to teach your child how to best manage their money. You want them to be financially savvy. You want them to master impulse control. But what happens if your lectures aren’t doing the job?
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For the responsible adult who thinks about being prepared for the future, savings are a fixed expense that is built into the monthly budget just like car payments and insurance. For most people, though, this habit does not come naturally. It needs to be acquired and practiced. Teach your kids those saving smarts now when they're young to help make it a lifetime habit they've already mastered by the time they hit their 20s.
What happens when you and your partner have different approaches toward money? How do you bring up this loaded topic without it spiraling into a heated argument? Once again, it's USCCU to the rescue! Read on for the ultimate guide to discussing finances with your partner.
It's no secret that impulse buys can wreak havoc on even the most carefully constructed budget. And retailers know this all too well – that's why the checkout counters in groceries, pharmacies and large shopping centers are packed with dozens of things you may not really need. And that's why you might come home from those stores having spent more than you'd planned.
One of the most fundamental financial lessons your kids are going to have to learn is about how you work for your money. Do your kids understand that every time you pull out a wad of bills or swipe a card to pay for a purchase, that money is directly linked to time you put in at the office?