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Money

Anyone know of a good system to learn to be reasponsible with money. We just cant seem to save and I dont want my children to learn bad habits when it comes to money

 
Momabear455

Asked by Momabear455 at 1:42 PM on Dec. 31, 2010 in Money & Work

Level 22 (12,794 Credits)
This question is closed.
Answers (7)
  • Dave Ramsey's financial books are a great starting off point!


    Openng a basic savings account at your bank and either manually or via Direct Deposit dsignate a small part of your paycheck(s) to be added to that account--small enough that you don't miss it! Maybe start with $50 per paycheck and forget about it! It's amazing how quickly that $50 per check multiplies! Later you can "upgrade" to CDs, mutual funds, money market accounts, etc.!


    Many banks also offer Junior savings accounts, where they can count and deposit loose change at the bank and they get a "savings account" book, so they too can learn about saving money for things they REALLY want!

    LoriKeet

    Answer by LoriKeet at 1:53 PM on Dec. 31, 2010

  • Live within your means. Don't charge everything & not pay attention to how much you are charging on credit cards. Try to take even $20.00 a cheque & put away. Not sure what your lifestyle is like but cut down on bad habits.
    sarasmommy777

    Answer by sarasmommy777 at 1:54 PM on Dec. 31, 2010

  • I just read the other day about a Mom using Mint.com
    I haven't used it so I don't know what it's like.

    Best Wishes!
    www.ErikaCarrillo.com
    mommy2joeynabby

    Answer by mommy2joeynabby at 2:38 PM on Dec. 31, 2010

  • I agree with Dave Ramsey! You can check out his book The Total Money Makeover at the library. There is also a group here called Dave Ramsey Fans. His teachings aren't new ideas, it's all common sense, but he breaks it down into baby steps that are easy to follow and get results. He does explain a lot of things that people don't understand about debt and credit and he promotes debt -free living and no credit cards. We got out of debt using the book I mentioned above (checked out from the library).
    slw123

    Answer by slw123 at 4:22 PM on Dec. 31, 2010

  • LOL...why did someone give me a "down vote?!" :o)
    LoriKeet

    Answer by LoriKeet at 1:36 PM on Jan. 1, 2011

  • I also would recommend Dave Ramsey. Though I don't think what Lori is suggesting is actually what Dave teaches.

    We started his plan nearly two years ago. By the end of February we'll be debt free.

    You don't have to pay money to do his stuff. Like slw said, you can go to the library to check out his books. You can join the Dave Ramsey fans group on CM. You can also listen to his archives for free on his website (DaveRamsey.com).
    Erica_Smerica

    Answer by Erica_Smerica at 10:12 PM on Dec. 31, 2010

  • become a rich woman, get an accountant.
    IraqiVetWife

    Answer by IraqiVetWife at 12:54 PM on Jan. 1, 2011

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