Determine how much you can afford to contribute to a savings account each month.
Should you go with the plan we just discussed—which I, personally, did—your child can use the interest her principal is earning to cover bills. I know that helped me quite a bit when I’d just graduated college and was facing funding my whole life for the first time. I was earning interest of about $350 a month from my custodial account, using that to pay for my car and phone bill, and not touching the principal.
One of the toughest things you’ll have to do as a parent is officially kick your child out of the nest. Even if she no longer lives at home (which, by the way, might make her one of the rare independent millennials), she may still look to you for rent money, her phone plan, health […]
Anything you’re trying to build for your future is probably something your parents are happy to help with. If you’ve thoroughly done your research, run the numbers, have a business plan, and are ready to put in the work to start your own business (knowing it takes a certain type of person), perhaps your parents will give you a little seed money.
Are you apart of the "sandwich generation"?
(AOL Black Voices) — We’ve all heard the expression “each one, teach one.” It’s a call to action urging us to spread whatever knowledge we might have to someone else. That’s what I do every day as a Money Coach. I teach people how to get financially fit. But with unemployment at 9.5%, credit card debt and student […]