There are a lot of great business credit cards out there with competitive cash back rewards and travel points. Many also offer 0% APR introductory rates on purchases only. Here are our picks for the best business balance transfer credit cards.
Depending on the time period in which you were raised, many young children and adolescents had differing opinions (and ideals) about what credit was and how it should or shouldnât be utilized. While some were privileged enough to understand the…
The post National Get Smart About Credit Day appeared first on MintLife Blog.
In July of 2013, I finished paying off my student loans. It was a fantastic feeling and something I still think about to this day. Even though I have a success story when it comes to paying off student loans, I know that many others struggle with their student loan debt every single day. The […]
The post How Blogging Paid Off My Student Loans appeared first on Making Sense Of Cents.
Credit cards, interest rates, loans, even where you liveâthese all depend on your credit score. If you have a good credit score, youâre more likely to get better financial offers. But if you have a low or nonexistent score, the chances of getting prime financial offers are pretty slim. If you have low or nonexistent… Read More
The post 3 Ways to Build Credit if You Can’t Get a Credit Card appeared first on Credit.com.
Packing up and heading off to college is an absolutely thrilling time in a young personâs life. However, with all the fun comes a lot of responsibility. One of the first, and perhaps most important, choices a college student must make is exactly where they want to live. Here are a few things to consider […]
The post 7 Tips for Finding College Housing appeared first on SoFi.
Knowing how to handle finances is one of the most basic and important life skills. When you understand how to handle your money, you can avoid falling into financial problems and risks. So teaching your children about money is a key step in preparing them for adulthood. Teach them values and terms, such as saving, and they will grow to possess good money habits even up to adulthood. Broaden your knowledge of finance and money matters and pass them to your kids by reading up. Read LoanStart blog for financial advice and learn the intricacies of financing and loans and how they can help benefit your current financial situation.
1. Integrate Money Into Daily Life
Get your children involved with money. For example, you can have a young child join you at the grocery store to help with shopping. Ask them to compare prices of similar items and discuss why the items may be different. For older children, you might allow your child to watch or participate when you pay bills. Explain the process to them. Let your child know how much money comes in each month and how much you spend on expenses. Show to them how expenses add up.
Involving your children in household finances will help build their financial knowledge at an early age.
2. Give Your Child an Allowance, But Consider the Frequency and Amount
There are several benefits to giving an allowance. For one thing, when your child has money of their own that they can spend at their discretion, they will be incentivized to learn how to handle it. Once the allowance is gone, your child will have to save up to buy necessary items. You can teach your child to be responsible for money management and living within their means by sticking to the rules. Disperse allowance on a regular schedule, and never extend "credit."
Some financial experts recommend giving out an allowance to be budgeted once a month rather than once a week. This gives the child a longer amount of time on how to manage a given amount of money. Also, the larger the amount of money, the more management skills are to be learned.
3. Model Good Financial Behavior
Your children look up to you, so your decisions with money will set an example. Are you late on your bills? Are you living beyond your means? Get your financial situation in order and be honest with your children. Let them know the reason behind your financial behavior so that you can discuss financial planning and management as a family.
4. Teach Your Children About Choices
Let them know the reason behind your financial behavior and embark on sound financial planning and management as a family.
Make sure your children know that there are more ways to use money beyond just spending it. Teach your child to save, invest, or donate to charity, and explain why these options are worth the effort, even if they do not offer the short-term satisfaction that comes with making a purchase.
5. Provide Extra Income Opportunities
Occasionally, you can offer your child an opportunity to make a small amount of extra income by having them do some chores around the house. This will teach them early on about the value of earning money. You can then help them decide what to do with the extra money they have earned.
6. Teach Your Child How to be a Wise Consumer
Before your child buys something new, discuss with them the alternative ways of spending money to emphasize the value of making choices. Teach them to compare shops and items for prices and quality. Show them how advertisers persuade people to buy their products. Encourage your kids to be savvy and critical of ads and commercials.
7. Teach Your Child a Healthy Attitude Towards Credit
Teach your child how to handle credit. When you think they are old enough to understand what credit is, allow them to borrow an extra amount of money from you to make a major purchase. Talk to them and negotiate how much amount your child will pay you each week from their weekly allowance, and then collect the money and keep track of the remaining balance each week until the debt is repaid.
8. Involve Your Child in Family Financial Planning
Let your child see how you plan your budget, pay bills, how you shop carefully, and how you plan major expenditures and vacations. Explain to them that there are affordable choices, and allow the kids to participate in the decision-making process. You can set a family goal that everyone can work towards.
Explain to your kids that there are affordable choices, and allow them to participate in the decision-making process.
9. Avoid Impulse Buys
Children are prone to impulse buys when they find something cute or eye-catching. Instead of giving in and buying the item for them, let your child know that they can use their savings to pay for the item. However, encourage your child to wait at least a day before they purchase anything above a given benchmark–for example, 15 dollars. The item will still be there the next day and they will have properly decided with a level head if they still want the item.
10. Get Them Saving for College
College is an important phase that can affect the future of your child. There’s no time like the present to have your teen saving for college. If they plan on working a summer job you can take a portion of that amount and put it on a college savings account. Your child will feel more responsible since their future is at stake with how much they save.
After years of building a stellar credit history, you may have decided youâre finally ready to invest in that vacation home, but you donât have quite enough in the bank for that eye-catching property just yet. Maybe you want to…
The post What Is a Jumbo Loan? Finance Your Property in a Competitive Market appeared first on MintLife Blog.
Article originally published July 13th, 2016. Updated October 30th, 2018. More people are opting to lease their new set of wheels instead of purchasing them, according toÂ Q2 2018 data from Experian. The number of auto loans grewÂ to an all-time high, with leasing surpassed 30% of all new consumer vehicle sales. But the interest ratesÂ consumers are… Read More
UPDATE: Some offers mentioned below have expired and/or are no longer available on our site. You can view the current offers from our partners in our credit card marketplace. DISCLOSURE: Cards from our partners are mentioned here. The Apple credit card launches this summer, and it pairs the high-tech, app-based culture of the brand with… Read More
The post What You Need to Know About the New Apple Credit Card appeared first on Credit.com.
When it comes to borrowing money, you have a few options like loans and credit cards. With a loan, you receive a lump sum all at once. You then have to repay that amount, plus interest over time.Â You also have … Continue reading →
The post How Does a Line of Credit Work? appeared first on SmartAsset Blog.