No matter what age you are, money is an important element of your life. Whether you’re saving your allowance to buy a toy or your income to buy a house, it’s crucial that you understand how to manage your money. This week, there were several articles that hit the Web that gave valuable tips on dealing with finances at all different stages of life. Check out our favorite posts below!
If you’re a parent, one of the most significant things you can teach your children is how to effectively manage money. This post from Frugal Rules breaks down the 5 essential lessons kids need to know in order to turn them into financially responsible adults. Get your child started on the right foot (by understanding the difference between needs and wants and being knowledgeable about compound interest), and they’ll thank you later!
Once someone reaches their teenage years or early adulthood, they’ll be tempted to get a credit card. Broke Millennial has put together a super helpful guide to using a credit card, from figuring out which card to sign up for to using the card responsibly. Even if you’ve owned credit cards before, this article is still a useful refresher on how to avoid credit card debt.
Even if you’re somewhat financially stable, you can still experience problems with your household budget. The Simple Dollar lays out 9 strategies for fixing these dilemmas, like using a simple budget program, setting up automatic bill pay, or implementing breathing room in case of emergencies.
Chances are, sometime in your adulthood, you’ll fall into debt. It happens to the best of us. Money Crashers offers 6 tips on how to avoid being ashamed of your debt, and ultimately, how to take control and pay it off. The post also provides steps you can take to get educated and suggestions for ways to make a payoff plan. Even if you’re in debt now, that doesn’t mean you have to stay like that for long!
After you’ve worked hard your whole life, you have retirement to look forward to. Get Rich Slowly published a post this week about how to prepare for retirement when you’re nearing senior citizen territory. Even if retirement is a long way off, read this post for ideas on how to best prepare your finances for your golden years.