Tackle These Top 5 Financial Resolutions In 2017

resolutionA new year is here and with it, a chance to make a fresh start.  Learn more from this Forbes article here.

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3 Other Ways to Protect Against ID Theft

guard-dogWhen it comes to identity theft, most people think of proactivity in terms of security:here are three other ways to protect yourself against Identity Theft.

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Over 90% of Americans make this 401(k) mistake

Couple Sitting at a Table With a Jar Full of Coins in Front of ThemAccording to a NerdWallet study, roughly 92% of Americans have no idea what they’re paying in 401(k) fees. Many, in fact, underestimate their fees and wind up losing thousands read more of this CNN Money article here

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Saving a little extra makes a big difference to retirement

usatoday

Did you know that people who make resolutions on money matters tend to feel better about the state of their finances and are generally in better financial shape?  Read more of this interesting USA Today article here

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Top Skill for Kid’s Financial Success

ThinkstockPhotos-86494306.jpgAs parents, we want to help prepare our children to have the best chance at a successful future including financial satisfaction. But what exactly do we need to teach children about managing money?

Common sense says; when they are old enough, load them up with finance knowledge and guide them to make good saving and spending choices. But according to new reports by the Consumer Financial Protection Bureau (CFPB), the most important preparation doesn’t even concern money and can be learned at any age.

CFPB Education and Social Psychology studies found that executive function is the most important skill for kids to possess to build a healthy financial future. Kids can practice this skill long before they are old enough to learn about money.
Executive function is how we manage ourselves including impulses, and emotions, and how we get things done. It involves practicing patience and how we plan and execute tasks. The more we practice, the better we get. Kids who have strong executive function are most likely to enjoy financial happiness.

Here are a few tips to help strengthen your child’s executive function:

1.) Practice delaying gratification
Give your child a choice to enjoy a small treat now or a bigger treat after a brief period. Gradually increase the amount of time for the greater incentive to help him or her learn to delay gratification.

2.) Playtime Planning
Before play time ask your child what he or she would like to play during the next segment of the play session. Afterward invite him or her to reflect on how well their plan worked. This reflection helps to strengthen long-term planning skills and instills basic rewards for following through with a plan.

3.) Include your child in planning and decision-making
As appropriate include your child in planning for family events. Consider letting them choose dinner menus or weekend activities. Planning and decision-making help to strengthen a person’s executive function skills.

These simple exercises can help any child toward a more satisfying financial future. Better yet, it doesn’t matter if you are two years old or 82 years old! Anyone can work on developing their executive function skills to enjoy greater financial satisfaction.

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Side Hustle: A New Dance or a Way of Life for Millennials?

hustle.jpgThis isn’t your father’s disco. So what is the side hustle?  Let’s put it this way.  NOT participating in this “dance” may cause some Millennials to have an identity crisis.  Read more of this interesting Forbes article here:

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How to avoid these Top 5 holiday spending Pitfalls

cute santa.jpgSome of us shopping thrill seekers are still out there braving the battle to get our Christmas shopping done before we are banished to the naughty list.  With the average consumer planning to spend hundreds on gifts this season, shopping can take a toll on your finances.

Here are five pitfalls when it comes to holiday shopping: read more at USA Today

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