Teenagers and Money - 7 Financial Attitudes To Help Your Teenager

By Terre Grable

Teenagers and money - two words that are mutually exclusive. The former often requests and requires the latter. As a parent during these shifting financial times, what can you tell your teenager about money? Besides the fact that it does not grow on trees? As parents, we all want our children to grow up to be responsible adults and financially successful ones. Here are 7 financial attitudes that can help your teenager.

1. Expect fluctuation

If there is one lesson we can acquire from history and money it is that there is volatility. Just as sure as there are good economic times, there are bad economic times. Economics can be as unpredictable as the weather, and equally as frustrating if you let it.

2. Nothing compares to a dollar earned

Your parents' money is not necessarily your money. While it may seem like having money handed to you whenever you want is a dream, there is something satisfying about earning it yourself. The sweat equity you have invested in your paycheck can never compare to the mediocrity of a handout.

3. Remember to save

Just as money can fluctuate, so does life. Financial difficulty and unexpected troubles falls on everyone from time to time. Hence, it is necessary to have some sort of savings that you can fall back on to ease the stress. In addition, saving allows you to avoid credit card debt.

4. Credit follows you

Credit is something that must be handled responsibly. Credit cards, payment plans, and loans follow you by your credit score. Your credit behaviors today will have a definite impact on your financial capabilities in the future. Even some employers will consider a person's credit when hiring an employee.

5. Invest it

Not only is it important to handle money responsibly, but also it is essential to handle it intelligently. You work hard for your money, so consider having it work hard for you. Investment opportunities are plentiful. Educate yourself and seek out the advise of a qualified financial professional.

6. Don't be afraid to spend it wisely

Saving money is great. Investing money is also great. Yet, money is also meant to be enjoyed. The key is to spend it wisely and with responsibility.

7. Do not base your self identity on it

As humans, we tend to look upon wealthy individuals as a greater sense of respect than others. Financial success can be alluring. It can make a person feel powerful, popular and important. Yet, there is a problem when a person bases his/her inner value on money. Why? Besides of its fluctuation, there will usually be someone that has more money than you. Or perhaps has invested it more, etc. Self-identity must come from one's inner character rather than exterior finances.

As teenagers mature, there are certain life lessons each must learn. As a parent, teaching healthy financial attitudes can have life changing effects on your teenager and money.

Are you looking for more practical solutions for parenting your teenager? I invite you to check out http://www.parentingyourteenager.com/ where you will find more information to help parents and teens become better friends when they feel like enemies.

Article Source: http://EzineArticles.com/?expert=Terre_Grable
http://EzineArticles.com/?Teenagers-and-Money---7-Financial-Attitudes-To-Help-Your-Teenager&id=1175334

How To Know If A Bad Credit Loan Is For You - Tips To Get Out Of The Loan Cycle

By Renee Haswell

Many times while searching for a loan, it is to solve an immediate problem. Sometimes the problem needs to be taken care of immediately. You just need the money to fix things right now. Many times you do not think about how this loan will truly affect your finances in the future.

Bad credit loans usually have higher interest rate and non favorable terms. The monthly payment may put a light strain on your budget. Maybe not the first month or two, but when other situations arise, that demand your immediate financial attention; your budget may begin to feel stressed. You believe you can swing another loan payment, to help solve this new problem. You may try to obtain a quick personal loan, but the bank may not see the available verifiable income that supports that you could afford an additional loan payment.

If you must take out a bad credit loan, always think ahead. Find ways to pay the loan off early, to avoid paying more interest than you have to for the loan. Read the fine print before you finalize the loan. Make sure that you are on time with all payments to avoid late fees.

Think about what you can do to help you pay off this debt. If you are an avid crafter, why not share your love of crafts with the world. Perhaps set up a flea market table or set up an online auction or website to sell your crafts. A few orders every month, can go towards paying down the balance of your loan. Consider smoking less, or only have one drink, when you go out on Friday nights. Instead of supporting several charities, focus your financial support one charity. Always be thinking of how you can come up with some extra money each day, to apply to your loan balance.

If you are a great cook, sell your pies or famous chili to your neighbors, or reserve an inexpensive table at the local festivals. Challenge your self, to pay off this debt sooner than later. Emergencies do happen, and sometimes loans are needed to help you stay afloat. However, do not depend long term on high interest rate loans to be a solution to your financial problems.

Copyright © Renee Haswell is a freelance writer and adult education specialist who has helped hundreds of people self repair their credit. Learn more about credit repair at http://www.squidoo.com/improvecreditreports

Article Source: http://EzineArticles.com/?expert=Renee_Haswell
http://EzineArticles.com/?How-To-Know-If-A-Bad-Credit-Loan-Is-For-You---Tips-To-Get-Out-Of-The-Loan-Cycle&id=1179533

Why Online Banking Makes Sense, And How To Do It Safely

By Nicholas Hunt

The internet has infiltrated every aspect of our modern lives. We can watch movies, listen to music, talk with friends, and make phone calls online. We can buy a car, buy a house, or meet a future spouse, all online. Why should our banking be any different? Online banking is not only convenient it is safe, as long as you are responsible with your banking practices.

Banks are really hyping up online banking. They offer special incentives for opening checking and savings accounts online; higher interest rates, free checking, free personalized checks, the list goes on and on. What are the advantages to using online banking? Well, there are many. First of all, many banks offer higher rates for your savings or checking accounts if you use online banking. The higher your interest rate is for either of these accounts, the more money you make every year.

Banks want you to use their online services because it saves them money. If a person can use online banking to electronically pay a bill or transfer money from one account to another, that means their phone bankers or tellers do not have to do this, enabling them to help more customers and in the end making the bank more money. So, the more customers use online banking the more business the bank can do, and the more profitable they are. More profit for your bank isn't always a bad thing; if the bank is profitable then they may offer more incentives like even higher interest rates, which means more money in your pocket if you have an interest bearing account. Who doesn't like more money?

Online banking can have a seedier side. In today's climate of identity theft, one can never be too careful with personal information. Many banks require username and passwords to access account information online. Security questions are another method these sites verify customer identity. When choosing usernames and passwords many websites require a minimum number of characters, and some even require a combination of letters and numbers. The more complex a username and password is the less likely it is to be guessed by would-be-identity-thieves.

Remember; never ever give out your username and password, not even to your bank. They would never ask you to divulge this information to them; they don't need it to access your account for you. If someone asks you for this information, you should report them to the authorities immediately.

Security questions are a second layer of defense against bad guys. Choose your security questions carefully and make sure they are ones you can remember. It is your choice as to whether or not you are truthful in your answers to these questions, just as long as you can remember the answers to them. If you choose to write down your privacy information, make sure you keep it in a secure place where no one can get access to it.

Online banking is an important part of our personal finances; it can make money matters easier to handle. Remember to use it wisely and responsibly, and you will reap its rewards tenfold.

Nicholas writes for Your Banking Guide where you can read more about online banking safely as well as finding the best savings account to make your money work harder.

Article Source: http://EzineArticles.com/?expert=Nicholas_Hunt
http://EzineArticles.com/?Why-Online-Banking-Makes-Sense,-And-How-To-Do-It-Safely&id=1172829

5 Top Tips To Beat Rising Food Bills

By Andrew Scotchmer

I can honestly say my wife is a wonder when it comes to planning the family budget! We were watching a program last night on the current rise in global food prices. A well-known TV chef was helping a family reduce their weekly food bill from £150 to just £48.

Granted we don't have any children, yet through my wife's careful planning, we've only been paying about £48 a fortnight on food for years and with my expanding wasteline - I've never missed out!

Here are five top tips to reduce your own food bill and fight the growing trend in prices:

• Plan carefully - try and make as many dishes from just a few basic ingredients. Mincemeat is great for bolognaise, burgers, pies etc. Sausages can be fried for a breakfast or lunch, casseroled with lentils for a dinner. Fish can be poached one day, pan-fried another, made into a soup/chowder the next. Plan your weeks menu before you shop and only buy those ingredients you will need.
• Flavour your food with different homemade sauces to create variety. Also sauce ingredients are usually cheap and a little goes a long way. Ready-made sauces are far too expensive and full of chemicals.
• Don't shop for food when hungry - you'll only buy more and a lot will be junk, bought to suppress your immediate desire rather than any long-term need.
• Buy fresh vegetables where possible - you can get some good deals on fresh veg and you'll only buy in the amounts you need.
• Cook your own food - ready-made meals are a false economy. They're more expensive and often no more easier to prepare than cooking it yourself. Cooking it at home from scratch can be an enjoyable family activity and the food is much healthier and tastier.

Before my marriage I use to spend loads on frozen food and ready-made meals. Now, thanks to my brilliant wife, we save heaps of cash and have a very healthy diet. Our food is varied and highly flavoured. So next time you visit the supermarket plan ahead, buy only what you need and get cooking!

Biography
Andrew Scotchmer is an author of two books, a motivational speaker and a business advisor. He is also the founder of Complete Kaizen, a business improvement training company.

Andrew has just started his own blog at http://www.andrew-scotchmer.com

Article Source: http://EzineArticles.com/?expert=Andrew_Scotchmer
http://EzineArticles.com/?5-Top-Tips-To-Beat-Rising-Food-Bills&id=1180213