 |
«A website where you can find the lowest interest rates on home loans with absolutely free quotes from multiple lenders» |
| • Home Equity Loan • Home Refinance Loan • Home Purchase Loan • Second Mortgage Loan • Debt Consolidation Loan | ||
|
 | |
| |
| Home Equity Loan Store :: Personal Finance | |
|
|
|
What Are We Teaching our 2005 Graduates about Money?
Now that we are in the month of June I can't help but wonder if we have prepared our new graduates for the responsibility of managing and budgeting their money. I had a very interesting conversation with my God-son, a recent graduate from a local Los Angeles high school. He assured me that he is ready to take on the responsibility of purchasing a used car because he was working par-time for a fast food restaurant. When I asked him how much money he had saved he quickly told me that he hasn't received his first paycheck yet, but would appreciate money as a graduation gift to purchase a vehicle. We talked about the value of saving as well as more responsible things he could do with the money he was earning. I explained to him that having a job was a good step towards saving for a car. However, he was still lacking in responsibility for assuming everyone else would buy the car for him. I strongly agree with the lending belief of banks, "if you can't come to the table with some of your own money, I can't give you my money." So our conversation ended with an agreement that he would cover insurance and gas with his income and save at least 10% for college expenses and I would send him a cash gift towards the purchase of his vehicle as a graduation gift. I do understand that now days getting a car as a graduation gift is much more common then when I graduated from high school. However, I would rather teach graduates the importance of being responsible with their money then fashionable with their peers. What are we teaching them by having the mandatory cell phones, computers, credit cards, digital cameras, dvd players, and mp3 players? I think the message is pretty clear, "consume more, save less and stay in debt." Well, pretty soon he will be off to college where he will be bombarded with credit card applications, cell phone companies and many other vendors enticing him to get into debt. Hopefully he can learn how to be responsible with money before he earns his college degree. Otherwise my next gift will be for him to attend my debt management class. I don't think he would like that very much. All Rights Reserved Dina D. Harbour,
MORE RESOURCES:
Personal-Finance - Google News |
|
|
|
RELATED ARTICLES
Im Broke, How Can I Afford... I'm still amazed every time someone comes to me complaining that they don't have any money to put into their business and that they're broke.I mean what have you been doing with your money man?!?Plain Truth: If you don't have any money you won't make it my friend? it's that simple. 10 Tips To Save Money When Dining Out Here are some tips that can help you save money when dining out. Keep in mind that these tips are intended to help you save money when dining out at a restaurant type setting. Financial Fitness - Are You Exercising the Right Muscles to become Financially Fit? Are your financial muscles well toned and healthy or flabby and weak? Do you want to change your relationship with money so you can have control over your financial future or do you want to continue to complain that you don't have enough? Exercise these 10 muscles to achieve Financial Fitness.1. Bank On It: Places to Hide and Invest Money Today I passed a thermometer at a bank that read 110 degrees, but I am not telling you that to show you how hot it was. I am telling you that because this bank really needs to fix their thermometer. What Happens if You Die Without Making a Will If you die without making a Will in the UK, the state will decide who gets what and how much, so those who you would want to benefit may get far less than you hoped.Your estate (your property and all belongings) are frozen and become subject to the law of intestacy. Eight Ways To Sink Yourself Financially 1. Don't focus on your finances. Stretching Your Grocery Dollars Shopping for groceries is an inevitable fact of our ever busy lives. We may imagine that we are saving time by dashing in, roaming the aisles and throwing whatever looks good into the cart. How to Draw a Personal Budget that Works Many people spend their little income haphazardly without any planning and end up getting broke before month-end. They then borrow to make ends meet and end up with more problems that they fail to repay their debts promptly. Financial Readiness: Preparing for BRAC (Base Realignment And Closing) The recommendations for military base closings have been released and the news is not good. If the recommendations are accepted, you will lose your job. Organizing Your Finances - Thinking Outside the (Shoe) Box If you're like most people, your personal financial records are most probably kept in less than "Good Accounting Practices" standards. For example, stashing old ATM receipts and hanging on to a stub showing what you paid for a pack of mints two years ago (cash, of course), might be filed with your paycheck stubs, credit card statements - paid and unpaid alike - as well as a few tax forms, a stray paper clip and a penny. Improve Your Professional Image Using Address Labels One of the simplest ways to improve your professional image is by using address labels. Self-adhesive business labels are THE way to go when it comes to a professional image. Simple Ways to Save Money Things are so expensive these days. We seem to be hearing, and saying, that a lot lately at the gas pump, in the grocery store and especially when paying bills. The Wonderful World Of Address Labels Ever wonder where address labels come from? Avery® is perhaps one of the most well-known manufacturers of address labels. Rightly so in some respects. Budgeting: A Tough Love Way to Handle Your Household Budget Developing and living by a household budget is by far the best way to get your expenses under control which, in turn, can mean a much less stressful life.However, many families find it very difficult to stick to a budget. Budget Planning - Its Elementary My Dear Watson Does it feel like you have to be Sherlock Holmes to solve the mystery behind balancing your personal budget? Are you living a mysterious thriller where your realization of "financial independence and security" is a vicious repeating cycle of debt? Don't be afraid?.. Debt Management - More Ways to Save on Gas Consumption The price of gas continues to climb, and with continued uncertainty in the Middle East, they will probably continue to do so. In California and elsewhere, prices for some grades of gas have now reached the previously unthinkable three dollars a gallon. Honor Those Who Serve with Checking Account Supplies Our global society has had a wake up call in the last five years regarding our safety. But there are those in our communities that fight to keep us safe from day to day. Affording a Home Can you really afford a house? If so, how much house can you afford? To determine this answer will take serious financial planning, and the best time to start is at least six months before buying the home.Although buying a new home may seem like an American Dream or romantic venture, the reality is that the house you can afford depends on your current income and debt obligations. Roth IRA Contributions - IRS Rules Confused about whether you can contribute to a Roth IRA? Try using these simple rules:IncomeTo contribute to a Roth IRA, you must have compensation (e.g. Retirement Income Needs---Less Than You Think? It is widely written that you need 75% of your present income to maintain your present life-style in retirement. If you make 100 thousand now, figure 75 thousand in retirement.
|
