Money and Relationships

Is Cosigning For A Loan Ever A Good Idea?

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An internet search of the term “cosigning a loan” quickly reveals it’s a terrible idea. And there are valid reasons for much of the negativity. Helping a family member or a friend by cosigning a loan is incredibly helpful for them, but significant problems arise for a cosigner when they don’t know or understand what […]

Is Buying My Parents’ House A Good Idea?

If you’re thinking about buying your parents’ house, there are many things to consider before moving forward. Buying a home is a substantial financial decision. And when a big money decision involves family, it should be carefully considered. Why Buy Your Parents’ House? You might have multiple reasons for thinking about buying your parents home. […]

What Is Financial Abuse?

Note: This post may contain triggers for those who have been in abusive relationships or been through sexual assault. What is Financial Abuse? It’s when the person ‘in power’ – the abuser – controls their victim’s access to money, including: controlling their spending stealing their money, credit, property, or identity denying them access to financial […]

Should I Let My Teenager Get A Part-Time Job?

Your teenager continually begs you for money, and here they are again. You’re starting to feel like an ATM. But this time you pause, ignore their outstretched hand and say no. It’s time to set some limits here. Frustrated, your teen asks if they can get a part-time job to earn their own money. You […]

How Do I Encourage The Entrepreneurial Spirit In My Kids?

We all want our kids to grow up and become successful right? As parents, it’s our job to teach them about money. How to earn it, save it, spend it, share it, and invest it. And learning by doing is often one of the best ways for something to stick. Research indicates kids who work […]

Do I Need A Prenuptial Agreement (Prenup)?

When hearing the mention of the word prenup, most people express serious reservations about getting one. “A prenup is for people who can’t or won’t commit.” “It’s like rooting against your marriage.” While it’s true not everyone needs a prenup; there are essential benefits–financial and otherwise–to signing a prenup before marriage. Once you have a […]

Spending Money On A Friend’s Destination Dream Wedding

I got married right out of college to my high school sweetheart. Both of us were broke after graduation, but fortunately, our combined student loan debt was less than $10,000. We chose to have a small wedding because we wanted to get married right away. We didn’t want to take on more debt and we […]

Why Do So Many People Split Up Over Money?

Research shows the more couples argue over money, the more likely their relationship is to split over money or cause divorce in a marriage. Why? Because it’s about more than just money… When you argue about money, you’re arguing about issues going deeper than the actual dollars and cents. And these are powerfully emotional issues […]

Why Is Having A Power of Attorney Document So Important?

Power of attorney documents (POAs) are legal papers in which an individual (the principal) designates another person (the agent or attorney-in-fact) to act on their behalf and make decisions on certain matters (a specific financial transaction for example) or on all matters. POAs may be limiting in actions and duration, or be all-encompassing and lifelong. They are […]

How Do I Plan For The Future Care Of My Special Needs Child?

Your life takes a special turn when you have a special needs child. As you travel through early childhood and teenage years, your hands are held by public education and the services it offers. You attend countless meetings. And you learn how best to advocate so that your loved one receives the care and support […]

What Money Games And Activities Are Best For Kids?

Parents and caregivers may wonder when to start teaching young kids about money. Although there is no “right” time, starting early makes the most sense! Even at two or three years of age, children can start learning about money through your everyday family activities. Going to the store and talking about buying groceries or clothes […]

Should We Hide Our Money Problems From The Kids?

Honesty is the best policy. It’s one of the most important lessons virtually every family tries to instill in their children. But is honesty still the best policy when it comes to family finances and money problems? Yes. Families who are facing money problems should still be upfront with their children about money. Depending on […]

Should I Be Paying for Good Grades? Helping Kids With School

Your kids will be bringing report cards home soon, and you may be getting ready to hand out some cash. And if that isn’t the deal you have with your kids, you’ve probably thought about it at some point. Should I be paying my kids for getting good grades in school? If your parents pulled […]

My Relationship’s Ending, What Should I Do About Housing?

Your relationship is ending, and you’re soon facing moving out of your current home. But you’re not sure if you should lease an apartment, purchase a house, move in with friends, or go back and live with your parents or another family member after your break-up. There are so many emotional and financial considerations, each with […]

How Can I Teach My Kids About Money?

We all want to raise kids who are happy, well adjusted, and, let’s face it – financially successful. But if you haven’t got your own financial life sorted out just yet, how do you make sure to teach kids smart money habits? T. Rowe Price, the popular investment firm, surveyed over 1,000 parents and adults and […]

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