Archive for August, 2010

Financial Security for Seniors: 5 Steps to Protect Your Parents

Sunday, August 29th, 2010

When most of us think about financial issues, we consider our immediate needs (the mortgage, car payments, credit card bills) and our long-term needs (retirement, college funds for the kids, savings). But we don’t often think about one of the most obvious – and difficult – financial concerns facing so many of us: Our parents.

Financial communication with your parents can be sensitive. These five tips will keep the conversation flowing – and friendly!

  1. Start Now

  2. Show Respect

  3. Keep It Simple

  4. Be Patient with Your Siblings

  5. Check In

Read this week’s entire Money Couple Minute HERE to get the 5 steps with complete details for each.

View the Money Couple ABC News video on Surviving Back to School Spending.
Surviving Back to School Spending

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5 Questions Every Parent Needs to Ask Before Helping a Child Get Out of Debt

Monday, August 16th, 2010

We don’t sound the debt alarm very often, but when it comes to young adult children asking their parents for help with debt, well, the alarm bells start ringing!

These days, even 19-year-olds can be riddled with debt. Student loans, car loans, credit card debt can add up quickly, leaving young people buried in debt before they’ve even cashed their first paychecks. Sadly, debt follows young people for a long time.

As parents, you have to make some tough decisions about how much help to give your child when she ends up deep in debt. Before you write a check, ask yourselves these questions:

1. Where did this debt come from?

2. Have we bailed our child out before?

3. How can we help our child think differently about spending, saving, and debt?

4. When should reality hit?

5. How can we use this conversation to strengthen our relationship with our child?

Read the details in this week’s Money Couple Minute HERE.

Read all the Money Couple Minutes HERE.

View the Money Couple interview answering viewer questions.
View the Money Couple Interview

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4 Ways to Survive Back-to-School Spending…Plus ABC News!

Tuesday, August 3rd, 2010

According to the National Retail Federation, the average American family will spend more than $600 on clothes, shoes, supplies, and electronics during the 2010 back-to-school season, making this the second biggest consumer “event” of the year (you can probably guess what the first is!).

But unlike Christmas, this time of year often catches people unaware – how many of us plan for back-to-school spending in our annual budgets? Not us! Even if you haven’t been saving your pennies for the annual trip to the school-supply aisle, you’ve still got time to plan for these expenses and make sure you don’t end up with a battered budget. These tips can help:

1. Decide who will do the school shopping.
2. Involve your kids.
3. Start early.
4. Talk about it.

Get the full details of each of the 4 tips by reading this week’s Money Couple Minute on 4 ways to survive back-to-school spending.

Also, be sure to watch our new segment on ABC News called the Money Couple Minute – This weeks video is on Managing a Blended Family.

The Money Couple Minute on ABC News

The Money Couple answers viewer questions

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