Tag Archives: Money Lessons

4 Tips to Help Get Rid of Credit Card Debt

Putting in the work needed to get rid of credit card debt may be the single best step you can take to improve your financial health. Interest rates can run high, and eliminating those nasty payments can be a liberating moment in your journey to financial success. Sometimes, however, the thought of tackling those debts seems like an impossible task. Here are 4 tips on how to get rid of credit card debt a little bit at a time. Stop using credit cards: This is easier said than done, but if you are accumulating a large amount debt, the payments are only going to get worse until you stop the bleeding. Stop using all your credit cards while you are paying down debts, or else it will constantly feel like you are taking one step forward with two steps back. Make a budget and follow it: If you want to…
Read More »

Posted in Financial | Tagged | Leave a comment

Why Do I Spend Money I Don’t Have to Impress People I Don’t Know?

Money has always had an impact on our social standing. Think of the class system which used to be tradition years back; people segregated into different levels by wealth. You may believe that we’ve broken that system, but that may not be true. Many people still feel a need to spend money to feel ‘better’ than each other, whether they admit or not. This ongoing game of “keeping up with the Joneses” has put thousands, possibly millions, of people in financial trouble. Why do we keep spending too much money, more money than we have, to impress other people? Herd Mentality Our brains are wired to help us survive. Over the millennia, we have evolved to let instinct keep us alive. Part of that instinct is what drives our spending. Many experts believe that we feel the need to spend money to “keep up with the Joneses” is like a…
Read More »

Posted in Bankruptcy Law | Tagged , | 1 Comment

How to Teach Kids About Money This Summer

Now that it’s summer again, many of our children will be out and about, playing with their friends, participating in summer camps and sports, and so on. When a child reaches about 12-15 years old, it is not uncommon for them to start earning a little summer spending money via household chores, such as mowing the lawn, or doing laundry. What is uncommon, however, is seeing a child that truly understands how to handle their money. How to Teach Kids About Money When it comes to kids and money, the primary obstacle is that most children in their early teens tend to think only in terms of “want” rather than “need.” It’s best that they learn the difference between the two and the importance of taking care of needs as opposed to short-term wants at an earlier age; before they get their first jobs and start having real expenses to…
Read More »

Posted in Bankruptcy Law | Tagged | Leave a comment