Financial responsibility is an important skill that everyone should have. If parents teach kids to save money early on, then these children can grow up to feel confident and secure in their financial decisions. Use these tricks brought to you by Warsaw Buick GMC to make financing fun for both you and your little ones.
Use Different Jars
Having goal-specific jars for short- and long-term financial goals can help children understand what they’re working for in saving their money. Kids can decorate jars with images of what they are saving for which will encourage discipline.
Make a Chart
Visual aids can be very helpful in getting children to understand progress. Make a chart with a square for each week’s allowance. Kids can put a sticker in the square when they’ve set aside their savings. This will allow them to watch their money grow and see how many weeks of disciplined savings it takes to get there.
Set an Example
It may not always feel like it, but children look up to their guardians. If your kids see you saving money, too, they’ll enjoy following your lead. Make your own money jar, or use our DIY piggy bank craft to create fun and easy matching containers for your savings. While you and your kids pursue financial goals together, you’ll both be inspired to stay on track and save more in the future.
Debt can be stressful and intimidating, especially if you are shopping for a new or used car. That’s why it’s important to cope with debt before it gets out of hand. We’ve put together a post on tips for handling debt, helping you to get behind the wheel of your dream car before you know it.
The first step, according to Uswitch, is to accept that you have debt. Although this might sound obvious, many people simply sweep their bills under the rug because they have trouble dealing with the stress of serious debt. Relax, take some deep breaths, and address your debt head on. If you need it, professional help is available—and well worth it.
Talk about your bills with a professional, your partner, or your family. Developing solutions is often most successful when you are brainstorming with others. Plus, those close to you are excellent at providing emotional support. The pros are great at getting you resources and solving issues. Check out debt organizations like the Citizen’s Advice Bureau or StepChange for free help.
Locate the causes of debt. Careful budgeting and attentive records of spending help you find out where your money is going. Do you eat out a lot? Use credit cards? Buy concert tickets? Most people fail to realize how expensive some of their hobbies and luxuries really are.
Finally, address the stress. Debt can be rough to handle, which makes it important to take care of yourself. Eat right, exercise, sleep, and keep things in perspective. You are on the road to a debt-free life if you are following these tips.