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?