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Archive for the ‘Finance for Kids’ Category

How Your Savings Affects Your Self-Confidence

The Pleasure of Walking Tall

(as published in the St. Petersburg Times, May 13, 1969)

women silhouetteYour savings, believe it or not, affect the way you stand, the way you walk, the tone of your voice — in short, your physical  well-being and self-confidence.

A person without savings is always running. They must. They must take the first job offered, or nearly so. They sit nervously on life’s chair because any small emergency throws them into the hands of others.

Without savings, a person must be too grateful—seemingly desperate. Gratitude is a fine thing in its place, but a constant state of gratitude from desperation is a horrible place in which to live.

A person with savings can walk tall. They may appraise opportunities in a relaxed way, have time for judicious estimates and not be rushed by economic necessity.

A person with savings can afford to resign from their job if their principles so dictate. And for this reason they’ll never need to do so. A person who can afford to quit is much more useful to their company, and therefore more promotable. He or she can afford to give their company the benefits of their most candid judgments.

A person always concerned about necessities, such as food and rent, can’t afford to think in long-range career terms. They must dart to the most immediate opportunity for ready cash. Without savings, they will spend a lifetime of darting and dodging.

A person with savings can afford the wonderful privilege of being generous in family or neighborhood emergencies. They can take a level stare into the eyes of any person…friend, stranger or enemy. It shapes their personality and character.

The ability to save has nothing to do with the size of income. Many high-income people, who spend it all, are on a treadmill, darting through life like minnows.

The dean of American bankers, J.P. Morgan, once advised a young broker, “Take waste out of your spending; you’ll drive the haste out of your life.”

Will Rogers put it this way, “I’d rather have the company of a janitor, living on what he earned last year…than an actor spending what he’ll earn next year.”

If you don’t need the money for college, a home or retirement, then save for self-confidence. The state of your savings does have a lot to do with how tall you walk.

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Make College Count!

Attention Parents of High Schoolers:

Help college make more sense and be more valuable. Give your kid an advantage by helping them think about what they want to do AFTER graduation. Learn from young leaders in Entrepreneurship, Media, Medicine, Real Estate, Finance, Computer Science & Government!

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Is your child a Million Dollar Baby?

As parents we all dream about giving our children the world and the best of everything that life has to offer. Often times, it seems like it will always be just a dream due to a lack of know-how and/or resources. The road for many usually begins and ends with talking to their parents or their bank about setting up a savings account, but then when an unexpected expense comes around, as they always do, all the savings that were set aside get wiped out.

The great news is that giving your child a financial advantage in life can be a dream fulfilled. With some basic financial planning early in a child’s life, you can assure them of a $1 million nest egg!

One “secret” to financial well-being is that small, consistent contributions over a long period of time can build significant wealth. Our Million Dollar Baby plan is designed around compounded interest on deposits started early in life. Albert Einstein once called the power of compounding the “Eighth Wonder of the World”. It’s not a new concept, but when compound interest is paired with the correct type of plan and our advanced strategy, you get the power of the Million Dollar Baby program and the opportunity to give your little one the life you’ve always dreamed about and more.

For a FREE illustration of what the power of Million Dollar Baby planning can do for your little one, fill out the short form below!

5 Easy Money Savers at Theme Parks

As the school year comes to an end and we look forward to fun in the sun with friends and family, it’s easy for spending to get out of control. A few coupons or discounts put to use each trip can add up to a nice amount of savings by the end of the summer. As costs for entertainment continue to rise, it’s not unrealistic to spend several hundred dollars on one day out with the family.

“Single-day admissions to some of the country’s most popular theme parks hit $99 this summer. Tack on transportation, lodging and in-park purchases, and costs quickly add up. By the time the coasters have been conquered and your thrills have been chronicled on Facebook’s (FB) Instagram, you’re going to be out a lot of money. Let’s dive into how to save some at the park this season.” Read more…

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The Wealth Gap

The Wealth Gap

Borrower Beware: Accepting Student Loans

college debtAs President Obama signs an order to cap student loan payments at 10 percent of monthly income for an additional 5 million borrowers, here are some eye-opening facts from the New York Fed on how little Americans understand about the impact of student loans. 

The survey covered 1,029 people, including those with and without debt. Only 28 percent of respondents knew that if student loans aren’t repaid, the U.S. government can garnish wages, withhold Social Security payments and tax refunds, and report the debt to credit bureaus. Even more people—35 percent—incorrectly thought the government couldn’t do any of those things or said they didn’t know what the government could do. Only 37 percent of those surveyed knew that students loans are extremely hard to shed in bankruptcy, a reality that differentiates student loans from other debts, such as mortgages and credit cards. Read more here…