As parents, it’s our job to protect, provide for, and educate our children. Whether it’s teaching them how to hold a pencil correctly, to respect their elders, to parallel park a car, or the ins and out of financial management, the onus is on us to send our children into the world well-rounded and prepared for what they’re about to encounter.
As someone who is experiencing the joys of sharing a living space with a toddler (and sharing my physical body with another tiny, growing human), I know first hand the exhaustion that we experience as parents. Of course, there’s the adventures, fun, cute memories and things they say, but at this stage in life, being routinely tired is a part of every day.
This exhaustion can make it easy to think that there are lessons we can skip over, push to a later date, or trust that our children will simply “pick up” on their own without our guidance. The topic this most often occurs with? Money.
If you’ve made the commitment to start or grow your family, chances are you know the excitement, stress, joy, and fear that come along with the decision. These feelings are closely followed by an array of questions regarding your finances and how to raise a child in general, that never seem to disappear.
Hey, Gen-Xer. Feel like no one’s paying attention to you?
If you think it’s all about Baby Boomers and Millennials, you’re not alone. In fact, according to a study conducted by the Pew Research Center in 2014, Gen-Xers are indeed the neglected middle child.
If you have kids, or are considering having them, you’ve likely started thinking about what that will mean for your finances. But have you thought about how you can help your kids become prepared for their own financial future? There are plenty of things parents can do now to help set their kids down the right path financially. Here are a few.
Millennials are – or are about to become – parents.
Actually, 9,000 per day if you’re keeping score at home.
So, how are we doing so far?
Haven Life surveyed parents (with children ages 0-5) to find out what they are prioritizing when raising Generation Alpha.
Children are expensive. With so many costs for health insurance, doctor appointments, clothing, food, activities, toys, and more, by the time you are ready to get back to work, the childcare costs can blindside you.
But, did you know that you can deduct the cost of childcare to save on your taxes? Through the Childcare Tax credit or by utilizing your employer-sponsored Flexible Spending Account, you could save big on taxes.
As love is in the air, thanks to Saint Valentine, it’s a good time to think about same-sex weddings and the pressures to stick to traditional wedding norms.
It’s easy to find yourself thinking, “I’ll be so much happier when I get a raise.” Then, you get a raise and feel like your financial situation has drastically changed. You can afford to save a little more per month or maybe even make that much-sought-after upgrade to your home.
But after a few months, you get used to the new salary, and the cycle begins again of waiting for that next pay increase to feel like you have enough money to live comfortably.
Many of us get the same feeling when we buy a house. What was once a gleaming home that filled you with pride is now a constant reminder of everything you want to fix.
My parents hate their retirement.
This revelation floored me. How could that happen? How could you spend your entire life working and saving, come upon the freedom of retirement and just hate the ending?