A recent survey conducted by Schwab asked Americans what they think are the most important “lessons” parents should teach their kids.
It didn’t surprise me to read that more than 40% of Americans say they are stressed out by their car loans.
You know where I stand on having credit card debt. It holds you back from being all you can, and deserve, to be. I realize some of you have credit card debt due to emergencies, like a medical bill...
Look, I love a good party as much as anyone else, especially when there is a great celebration, such as a wedding. But if you’re attending a few weddings a year—and god forbid if one or more is a destination wedding—then I am also worried you may be celebrating your way into a costly situation.
Sitting down with your children once a month and having them help you pay the family bills is an incredibly valuable life-lesson opportunity that sadly few families use.
Weddings bring out the worst in our bad-money habits. I have known too many couples that have gone into credit card debt to pay for a wedding. Love doesn’t mean paying 15% interest-or more!-for a special day. And I have seen way too many parents nearing retirement who pull money out of their retirement savings, or stop contributing to their retirement accounts for a year or two, or use a home equity line of credit to pay for a child’s wedding. That is insane. Love never means having to jeopardize your future to pay for a wedding.
It makes me so sad to read reports that many households don’t have even $1,000 set aside to cover an unexpected expense. What’s so sad is that I know that must cause such stress.
It’s no secret that money can be a serious wedge issue for couples. Survey after survey reports that when couples argue, finances are often at the heart of the discord. Here’s how every couple can lay the groundwork for financial compatibility.
Letter From Wynne Sandra Korr, Dean and Professor at the School of Social Work, University of Illinois at Urbana-Champaign. Thanks to the