The recent cold and snowy weather has made it difficult for our daughter to drive herself to school and work, causing my hubby and me to drop her off and pick her up. Earlier this week, we decided to run a couple of errands together and pick up our daughter from work. While waiting for her to finish her shift, we began to ponder how people deal with their finances or money management.
A Wall Street Journal article, A Fight Over the Credit Score Lenders Use for Your Mortgage, by AnnaMaria Andriotis, discussed how non-bank mortgage lenders want to use credit scoring by VantageScore. A similar article, This battle over credit scores could shake up the mortgage market, can be found on The Real Deal.
The top New Year’s resolutions for 2017 vary according to where you look. According to Peter Economy’s Inc.com article, 10 Top New Year’s Resolutions for Success and Happiness in 2017, the top resolutions for 2017 were:
John Rosemond wrote the article, “Your kids should not be the most important,” detailing how some parents tend to make children the most important focus of their marriage. He gives a few examples how parents treat their children as more significant than themselves. I would like to add to his examples of parent’s letting kids control their budgets.
While the holidays occurred every year at the same time, they still seem to creep up on us. Sometimes, we get into a panic to get everything ready, which includes buying gifts. Managing finances during the holidays can be overwhelming when we feel rushed. Shopping for gifts for friends and family for Christmas is fueled by an emotional high brought on by the excitement expressed in retail decorations, music, and traditions.
We began this two-part series with What Financial Legacy Are You Leaving? Part I. We shared that leaving a financial legacy is more than just leaving money to heirs. We talked about enriching a financial legacy with financial education, integrity, stewardship, end of life preparation, retiring debts, and generosity.
We covered the first three topics, financial education, integrity, and stewardship and we are continuing with end of life preparation, retiring debts, and generosity in this post.
Many people do not think about the financial legacy they are leaving to the generations following them. If they do, it is usually not until they are nearing or in their retirement years. The topic is not common in conversations for obvious reasons. Can you imagine how a conversation might go especially for those who haven’t given the topic any thought? It could be rather uncomfortable.
My Granny used to say, “Take care of what you have until you know where your betters are coming from” all the time. I’m not sure if she picked up the saying from her mother or father, a book, or someone else, but it stuck with me. Although, I have not always heeded her sage wisdom. She was telling me not to waste money, which many of us do on a regular basis.
Here are some ways people waste money:
Multi-Level Marketing (MLM) is a creative marketing strategy designed by Wachter in 1932 according to an article by Frank Ross at AllBusiness. Multi-Level Marketing (MLM) opportunities are usually pitched by a friend, friend of a friend, or family member. MLM’s cover a wide range of products from food to clothing to skin care to jewelry to household goods. Some MLM’s recruit sales consultants to offer services such as booking travel and financial services.
As high school students near their junior year, they begin to consider colleges. Several articles recommend students narrow their choices to their top five to eight. One of the critical issues for attending college is financial aid. Financial aid is awarded to thousands of students each year to attend college.