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5 Tips to Avoid the Back to School Shopping Blues

5 Tips to Avoid the Back to School Shopping Blues

 

Avoid the Back to School Shopping Blues

Oh! It’s that time already? Summer is almost over and August is fast approaching. Welcome back to school and the most important part of the it- Back to School Shopping! Every year, parents and children scramble around stores trying to purchase the latest and greatest supplies. According to a study by the National Retail Federation, total spending for K-12 schools and college combined is projected to reach $82.8 billion, (more…)

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Online Shopping: The Right Way

Online Shopping: The Right Way

Let’s face it. Times are changing. More and more people are opting to shop online rather than in-store these days. Whether it’s beauty products, clothing, shoes, or even groceries, there is a way to order whatever you are in the market for online. However, so many of us aren’t taking advantage of what could be a great situation.

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Being Honest About Your Money Habits

Being Honest About Your Money Habits

April is national financial literacy month and a perfect time to evaluate our money habits and to make sure we are putting our best foot forward in teaching our kids good money habits.

When I was young, I remember my parents responding to my asking for something with the phrase, “We don’t have the money.” I would then see them writing a check or swiping a credit card to buy something else. It seemed odd to me and made me feel like they weren’t telling me the truth.

Parents have a tendency to think they are protecting their kids by shielding them from money issues, but the reality is that if we are honest about our mistakes as well as our triumphs, they will learn better money habits. If they aren’t learning it from us (parents), they will be learning it from their friends!!

As my kids started asking for things (middle school age), I would respond with, “I have the money to buy that, but that’s not how I want to spend it.” We would then have the discussion that if they wanted those things they needed to figure out how to earn the money to get them. Now that my two are 20 and 22, they are in college, living independently and figuring out how to get the things they want while I focus on saving for my retirement. It is a great feeling when parents and kids can share in the pride of the other’s accomplishments.

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What Your Teen Needs to Know

What Your Teen Needs to Know

If your teen is anything like most teens, you’re probably losing a lot of money to V-Bucks and new, trendy clothes, these days. Also, if they are like most of their peers, they know very little about the important financial concepts that are extremely relevant to them right now. Since it wasn’t too long ago that I was in their shoes, I’m hoping to help bridge the gap.

Here are SIX things that your teen needs to know RIGHT NOW:

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The Financial Attitude!

The Financial Attitude!

From a very young age we are taught about the importance of money. We are told what money can do and how your current standard of living can be dramatically changed if we somehow figure out how to earn more and if you have strong financial attitude. But rarely are we ever explained the importance of managing the money that we have, saving that money, or even the need of thinking from the perspective of investing money to earn more money. Coming from a small country, Nepal, and aiming to make a difference in the lives of people around me, I have realized that I have to be financially strong first.

As easy as it sounds, financial strength comes with great hardship. Whether at a job, in entrepreneurial pursuits, or with investing in financial instruments, one requires financial knowledge to work on even the basic facets of these. Thus, it is important to make sure that children understand basic financial concepts starting at a very early age. When children are instilled with the basics of financial management from an early age, they are more likely to look at finance positively and not as something that is “difficult”. Today, all we need is a positive attitude towards finance, and Wealthy Habits is on a mission to create that “Financial Attitude” among children.

So, are you ready to set that “Financial Attitude” in your child?

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Finance can be Fun… Honestly

Finance can be Fun… Honestly

I can remember being in elementary school worried about opening a bank account, in middle school thinking about my first job, and in high school concerned about my credit score. That, alone, should tell you that my views on financial literacy have always been a bit… unusual, (more…)

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