Big Changes to Student Loans After several years of paused payments, temporary relief, and forgiveness announcements, the federal student loan system is finally settling into a new structure. The recently passed One Big Beautiful Bill Act (OBBBA) brings sweeping and permanent changes to how families borrow and repay college loans. While some updates may benefit [...]
How to Handle Documenting Grocery Expenses for Reimbursement from a 529 Plan When your child goes off to college and you begin withdrawing from the 529 plan you’ve carefully built over the years, it can be confusing to know how best to document the qualified education expenses you reimburse yourself for. […]
Financial literacy often feels like an adult concern, but habits and attitudes form early. Research shows children’s money habits start as young as age three and are largely set by age seven. As parents, we have a critical window to shape these patterns during the preschool and elementary years. The good news is that teaching [...]
For families with college students, financial aid season has arrived. The FAFSA is now available, and unlike last year’s rocky rollout of a revamped version, this year’s form appears to be relatively glitch-free. If you’re debating whether to complete the FAFSA, here are a few reasons why it’s worth the effort: […]
Teaching your teen about money management, an essential life skill, can set them on a path to financial success. A crucial aspect of their financial literacy is understanding credit. Building credit for your teenager might not be something that many parents think about, but starting early can give them a head start in establishing a [...]
One of the most divisive issues in couples’ relationships is money, so what better way to celebrate Valentine’s Day than to sit down with your loved one and talk about money in a calm, relaxed setting? Now, you don’t have to do it on Valentine’s Day, but use that week and its symbolism of love and couplehood to schedule [...]
As summer comes to an end, many teenagers are flush with cash from summer jobs. If your teenager is in this situation and you’d like to use this opportunity to teach them the magic of compound interest, consider opening a Roth IRA for them. Roth IRAs are a great investment vehicle for kids because the earlier they start saving in a Roth IRA, the longer they have for their money to compound tax-free. Furthermore, kids’ income is usually low enough not to worry about the income limits on contributions that eventually prevent many adults from contributing to a Roth IRA.
I was asked to share my top 3 personal finance tips for graduating seniors with a class of local high schoolers. There are so many smart money habits new adults need. Where to start? I tried to focus on the ones that would set these newly minted adults off on the right path. Here’s what I came up with: [...]
April was the 20th anniversary of Financial Literacy Month in the US. This year, the movement was overshadowed by the global coronavirus pandemic and has many wondering if financial literacy matters in the current environment. It matters more than ever! A new survey from the National Endowment for Financial Education (NEFE) finds that nearly nine in 10 (88 percent) Americans [...]
Most parents try to teach kids the life skills they’ll need to thrive as adults. Some of those skills relate to money and work ethic. Sadly, particularly in affluent communities, children are often sheltered from the responsibilities and realities faced by adults. The percentage of high school-aged kids who work is at an all-time low, declining to 20% in 2013 [...]
