“Kiddie Condos” are one of the newest buzz phrases and latest trend for parents of college students who are looking to treat room and board as more of an investment vs. an expense. The concept: Purchase a home, condo or apartment in the town where your college student goes to school, purchase the home with them on the mortgage, and have them live there vs. campus housing or renting off campus. The idea behind the strategy is to put the money a family would generally spend on room and board, required meal plans, and out-of-state tuition into a property.Continue reading ““Kiddie Condos” – The Newest College Housing Trend”
When you are in your 20’s you experience a lot of exciting changes in your life – graduating from college, starting your first job, buying your first car, getting your first apartment, etc. And of course not everyone moves at the same pace or takes the same path in life, but it is important to plan ahead and set some financial goals.
When you set financial goals, especially at a young age, it can set you up for financial freedom later on in life. It might not seem super important right now to plan 20, 30, or 40 years ahead, but doing so can give you more choices in the future. It is a great feeling knowing you are on track with your money, and now is the perfect time to start working towards financial security.Continue reading “Financial goals to Strive for by the Time You’re 30”
Heading off to your first semester of college can be both an exciting and emotional time, and not just for the student! One often overlooked item is insurance. Should your college student remain on the family’s auto policy? Are their personal belongings covered if there is a fire or theft in the dorm, or they lose them? What happens if they are sick and need to see a doctor, are they covered?Continue reading “Back to School and Insurance – is your college student covered under your policies?”
Are you reading this and wondering when was the last time you didn’t manage your bank account from a computer or your smartphone? If so, you may have never heard of a Passbook Savings Account. They aren’t as popular as they once were, so don’t worry if you have no clue what they are, but these retro accounts still have some great advantages, especially for children.Continue reading “The benefits of the Passbook Savings Account and why your child should have one”
Being a new graduate is an exciting time. You have accomplished a huge goal by earning your diploma and are ready to start the next chapter. Transitioning from student to full time employee is not always easy so here are some tips to help you navigate the process:Continue reading “Making the transition from recent college grad to full time employee”
Do you ever wish you could go back in time and make different financial decisions? Some of the worst financial decisions are made when we are young and just starting to manage our own money and bills. At 18, you get that first taste of freedom, you can get your own credit card, open your own bank accounts without a parent, and even get a loan for a car on your own. But, making the wrong choices this early in the financial game, can set you back and affect your credit for years to come.Continue reading “Finance tips every 18 year old should know”
Working in the world of banking and finance, I often get asked by parents how early is too early to teach their children about money. When should they open accounts in their child’s name, should they give them access to it, or how soon is too soon to give them a debit card?
First and foremost, it ’s really never too early to teach children about money and finances, the earlier they learn the value of money and how to manage it the better off they will be later in life. Continue reading “Finances – What your children need to know”
If you are looking for a simple and easy way to save a few bucks, why not try the 52-week Money Challenge? If you haven’t heard of it before, here’s how it works. Every week you put away the same amount of money as the week of the year. So, week 1 you put away $1, week 2 you put away $2, week 26 is $26, and so on. At the end of the year, you will have saved $1,378. Continue reading “The 52 Week Money Challenge”
It’s so easy to get caught up in the joys and wonder of the holidays without realizing just how much you are overspending. Attending holiday parties, going out to eat, shopping for presents, and even traveling to visit relatives and friend all add up much quicker than we realize – and probably budgeted for. So, before you put your finances through the ringer and force yourself to make a New Year’s Resolution to get your spending under control, check out these simple tips to enjoying the holidays without breaking the bank. Continue reading “10 Tips for Surviving Holiday Overspending”
One of the biggest milestones in your life is graduating from college. It’s a symbol of independence and the start of your life as an adult. You’ll be on the hunt for a new job, a possible new place to live (Mom and Dad’s isn’t that bad, right?), and starting to manage your own money, including paying back those student loans. You don’t want to start your finances off on the wrong foot or overextend yourself from the get-go. Continue reading “Money Managing tips for Recent Graduates”