Make Your Child’s Slumber Party Safe and Fun
If you loved slumber parties as a kid, you’re probably eager to help your children enjoy them, too. Plan ahead to keep everyone safe and entertained. Planning Your Slumber Party 1. Draft your guest list. Most children are mature enough for overnight parties starting at about age eight. Limit the gathering to a size you can accommodate comfortably. Sleepovers are fun for boys and girls, but avoiding co-ed parties makes a parent’s job easier. 2. Collect parental contact information...
Read MoreManaging Money 101: Creating and Using a Budget
Even when the economy is good and you’re living comfortably on the money you’re making, it’s a good idea to use a budget. Many people cringe when they hear that word, because they think it means you can’t have any fun or spend any money. That’s far from the truth. Even a tight budget leaves room for fun and a little extra spending from time to time. When you plan a budget, you must be realistic about what you’re spending and saving. Don’t say you spend...
Read MoreAmerica Saves Week February 19‐26
Set a Goal. Make a Plan. Save Automatically. The theme for America Saves Week 2012 is more than just a theme; it’s a simple set of instructions to help you save successfully. Set a Goal. Make a Plan. Save Automatically. Knowing what you want to save for, how to achieve it, and then making the savings process automatic will allow you to reach your savings goal. Set a Goal You can save more by having a goal in mind. Visualizing what you want to save for gives your savings a purpose. You may be...
Read MoreLeaving Your 401(k) to Charity
Many of us wish to leave the majority of our assets to our loved ones, but we also want to offer some to charitable organizations. This is where some smart tax planning can really pay off. One of the most important parts of setting up your 401(k) is naming a beneficiary. This ensures that your 401(k) can pass to someone without going through probate. However, the beneficiary will have to pay income tax on the 401(k) balance. The tax rate in this circumstance can be very steep, depending on...
Read MoreLong-Term Care Insurance, Do You Really Need It?
One of the largest medical costs you’re likely to incur in your lifetime is long-term care. This means that someone has to live with you or that you require round-the-clock care. This type of care is very expensive. For care outside of the home, a private room in a nursing home can cost over $75,000 a year. Long-term care insurance, while not cheap, can reduce that burden. As with everything else, this type of insurance has its benefits and drawbacks. Have you considered long-term care...
Read MoreSend Your Kids to College and Save a Ton on Taxes
Paying for a child’s education is certainly one of the greatest gifts you can give. But the costs of higher education have been rising at a shocking rate. With in-state expenses at a public school averaging just below $20,000 per year, you may be wondering what you can do. One excellent solution to ease the financial challenge of paying for college is the 529 College Savings Plan. These are state sponsored savings plans that allow for tax-free earnings. Contributions are not deductible...
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