Most parents keep their finances hidden from their children. You don’t want your kids to worry about mortgage payments or that dentist bill that’s causing you stress. While your intentions are good, you’re preventing your child from learning valuable lessons about money. Continue reading “Young Money: Your Child’s First Bank Account”
Savings Clubs are making a comeback!
When it comes to personal finance, what is old has become new again. The latest new thing in thrift is the savings club, a time-honored tradition that our parents and grandparents relied on to accumulate money for the holidays or for a special purchase. With the advent of the credit card these plans have largely faded away, but are now enjoying a revival. The idea of the savings club is both simple and financially prudent. Instead of paying for your next major outlay, for example a vacation, a remodeling project or just your annual holiday spending blowout, by piling up credit card debt and racking up interest charges on top of whatever you may need to spend, a savings club account lets you plan ahead and start saving incrementally for your next big expense. Continue reading “Savings Clubs are making a comeback!”