Category: Family & Relationships

Learn how to talk with your loved ones about money and deal with family financial issues

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3 Ways My Mother Influenced My Personal Finances

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Researchers will tell you that we are all basically a combination of the beliefs, habits, and opinions of the people we surround ourselves with and spend the most of our time in life with. That starts in your childhood and is the unreal influence that a parent has on a child. Think about it. You probably believed almost everything you believed as a kid because of your parents through at least the first 10 years of your life.

We all are influenced by our parents in many ways. Here are 3 ways my mother influenced personal finances for me and changed the course of my money habits.

Unless you came of age in the ’60s like me, that probably continued right on through adulthood, because everyone knows that my generation was the dawning of “The Age of Aquarius” and was a totally enlightened generation, a totally innovative and newly ordained very special generation with all the answers to all the questions of the ages…not!!! We just thought we were that at the time.

But seriously, when you really think about it, it does seem true that you probably get most of your opinions just because of how your closest influences (like Mom) think and that gets reinforced constantly by them. At least that’s my “uneducated” opinion here.

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Dating and the Single Person: How to Save Money

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They say that money makes the world go ’round. They also say that love makes the world go ’round. Perhaps it’s a bit of both. When you’re single and in dating mode, sometimes it seems like you don’t have enough of either. But don’t despair…I made it through some rough single times, and I’ll bet you can, too. It’s just a matter of knowing how to manage your money, and your expectations, while dating.

When you're single and dating, it can be difficult to meet the right person, and even more difficult to save money while doing it.

Money can be a very contentious issue when you’re working on finding or being in a relationship, and it can also be one of the main causes for a relationship breakup too. It happens when there are real disparities that the parties have in their money attitudes. Ask people like me who have been through a divorce and you will probably get an earful about it.
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What Dad Really Wants for Father’s Day

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Being a dad has been the biggest responsibility I have ever had. After all, bringing a new life into the world and literally trying your best to help make that person the best kind of person they can be and fulfill their life’s real potential doesn’t weigh easy on anyone.

I sometimes get a bit misty eyed when I think about my two kids and I always miss seeing them when they aren’t right here with me. I think we all feel that way because after all they are so very important to us.

Father's Day is coming on June 17th. I'll share with you the secret of what Dad really wants for his special day and you won't need to spend the big bucks.

So a couple of years ago, I wrote a post about my thoughts on Father’s Day and it really came from my heart. I think the message in it says what every dad (and mom too) thinks and feels about a day like this. Even though the environment we live in makes us feel like honoring our dads and moms is all about buying gifts and making a big deal out of just the one single day a year, I can tell you from personal experience, that’s not what dads (and moms) really want from their kids. Continue reading

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Money Talk is the Last Taboo

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Discussing money—the nitty, gritty details—with our friends and families is a real taboo subject. You may be thinking, really? There are thousands of personal finance blogs around and libraries full of books about personal finances, money, budgeting, retirement planning, and I could go on and on here. But the truth is that we just don’t have any informal, detailed conversations with each other about these topics. Money talk is the last taboo.

There are so many subjects to discuss these days, but money talk is the last taboo. Here are some thoughts on why it's so difficult to talk about money and what we can do to get started.

Taboo Talking Points?

People will talk about their sex lives before they discuss their finances. Money talk and personal finances may be the most challenging topic to discuss with other people that there is. It begs this question: if no one is talking to each other about it, how do we ever find out what the beliefs and behaviors are of those who get rich and manage to stay rich as opposed to those who do not and never will? Continue reading

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How Financial Planning Changes When There’s an Age Difference

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Planning your finances is never really simple. But when one spouse is many years younger than the other, there is often even more to consider. For example, instead of planning a typical retirement income stream of 30 years, it’s going to be more like 40, maybe even 50 years. Financial planning when there’s an age difference can be a bit more complicated.

If there's an age difference between you and your sweetheart...10 years, 15 years, 20 years or more...it can affect your finances. Financial planning when there's an age difference has some important distinctions of which you should be aware.

For me and my wife Suzanne, this is that situation. I am currently 68 and she is just 47. To be honest, it didn’t really dawn on me as to what might make it very different when we are 20+ years apart in planning retirement life until just a few years ago. Having met her when I was working and just in my mid 50’s, I thought retirement was far off in the distance and never dreamed that I would “have” to retire early because of my health and that she would become disabled for health reasons too. That’s made me ask the question: “What do we do differently to deal with our finances when one spouse is so much younger than the other?” Continue reading

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Protect Your Parents From Frauds and Scams

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Being an older person (I’m 68), I know what the real world situation is when it comes to frauds and scams. Scammers tend to prey upon the elderly. Protecting yourself from fraud and scams would be a big enough job by itself, but you also need to protect your older parents from becoming victims of con artists.

While we all can be duped, your elderly parents are at greater risk of becoming victim to frauds and scams. Here's how you can help protect them from these financial dangers.
These days, many of us no longer live near our parents, making this effort even more difficult. You may not be aware of what phone calls, emails, and letters they receive which may be luring them into financial ruin. It’s a growing problem for a number of reasons and the biggest one is that the older generation is a soft target, many with assets that are fairly accessible for everyday use from a checking or savings account. Continue reading

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18 Money Saving Ideas for St. Frugaltine’s Day

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I definitely love being in love! I am so fortunate that I have found true love on my second time around when I met and fell for Suzanne, my beautiful wife, back in 2005! Not only is she all that and a bag of chips (am I dating myself with that phrase?), but we share a mindset about personal finances and that crosses off the list any arguments we might have about money. That is a problem that many couples endure and it can really damage a relationship.

You know it's coming on February 14th, and now you need some Valentine's Day ideas that won't break the bank. We've got you covered with some money saving ways to show your love.

Having said that, we both enjoy celebrating Valentine’s Day each year but we do it on our own terms. So it’s kind of a challenge to come up with some new ways to have fun, share our love, and still remain fiscally solvent. Here’s a not so short list of money saving ideas that can make your Valentine’s a “St. Frugaltine’s Day” of fun and frolic! Continue reading

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Where is the Line on Paying Your Adult Child’s Expenses?

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The old adage used to be that parents were financially responsible for their children up to the age of 18. After that, they became legal adults and financially responsible for themselves. Years ago, many teens couldn’t wait for their independence so they could move out and strike out on their own. I know that was how I thought back then but things have changed significantly for parents when it comes to their adult child.

As parents, we tend to do everything in our power to help our adult child. But where do you draw the line about paying for their expenses? Here's why it's important to limit your payments and what to tell your child.

Fast forward to today and now many parents continue to provide their children with financial assistance in some form throughout their college education, and often beyond. There have been several reasons for that happening. Continue reading

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Financial Literacy Month: Teaching Your Kids About Money

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April is Financial Literacy Month and it’s the perfect time to think about this subject and ways to help make you and your family more financially savvy! During this month, I have been asked several times by others in the financial world a simple yet personal question: “What do I wish I had learned as a kid about money that I wasn’t taught?” That got me to really thinking about the subject of personal finance in a little bit different way.

April is Financial Literacy Month and there's no better time to teach financial literacy for kids and adults. Here's how kids can learn more about money.

Almost everything I ever learned about money and personal finance as a child I learned from my parents. Schools just didn’t spend very much time teaching about that and surprisingly even today, some 60 years after I went to elementary school, they still don’t! Continue reading

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3 Shameful Financial Problems You Fear To Talk About

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Americans are well known around the world for certain things. One prime thing is our tendency to talk and even brag about our lives and our abundances. We are pretty proud of living in what we refer to as the “greatest country” in the world and we have good reasons to feel that way. If you are a bigtime world traveler, you are probably sending a clear message to everyone you meet: you have lots of money and you enjoy spending it freely. You probably stay at a fine hotel, eat at a fancy restaurant, travel at the height of the season, etc. and that is the message you’re sending.

Sometimes financial problems are embarrassing and we're afraid to share them with loved ones. But getting help is better than trying to work it out alone.

The Art of Braggadocio

Speaking of bragging, we also have great fervor when spreading good news to others, especially our family and neighbors. We make it obvious so they will notice when we drive into our garage with that big new $85,000 2017 Land Rover that’s so perfect for those cross country trips and exploring the Gobi Desert, but will more likely spend its time parked at little Debbie’s soccer practices every Tuesday and Thursday! Continue reading