"Do you want to save 10% on your purchase today?" "No."

Did you ever regret agreeing to sign up for that retail credit card?  Here are four steps to correct that. 

Preparing Your Child for the “Real World”

We’re reading more and more about the escalating costs of college and how unprepared young adults are to manage their own money.  We’re not judging.  We were financial nightmares ourselves.  In hindsight, we feel we weren’t given sufficient tools to be prepared.  Blame that on upbringing or education or whatever.

Personal finance education isn’t coming from school anytime soon.  What’s a parent to do?  What if you treat your high school-aged child as a roommate?  Ha!?  What?  Why would you do that?

Hear us out.  Studies show that when students first get into college, they’re not financially mature.  They don’t understand the value of a dollar.  They don’t understand why they should be cautious about, spending, school sponsored credit cards and debt.  They aren’t prepared to pay bills or share expenses with their roommates.

As CNNMonday reports, the average allowance paid by the 61% of parents who pay one is $15 a week.  Most kids don’t save this money.  81% of parents say they’ve discussed money management with their kids.  What does this really mean when allowances are spent almost as soon as they’re received?  This suggests there aren’t enough real-life examples for children, only theory.  CNNMoney suggests using allowances as a “gateway to budgeting”, reserving the money for going out with friends and short-term expenses.         

What if parents took this further?  The idea is to provide a real-life example of the value of a dollar.  If, when students get into high school, they are treated as a roommate, they’ll more quickly become financially mature.  Maybe home shouldn’t be a free ride.    

What do we mean, exactly?  Have teenagers pay bills.  Maybe have them pay all or a portion of their phone bill.  Make them responsible for covering a portion of the groceries they eat, maybe provide cabinet space for their own food.  Make them pay for gas, car insurance or part of the car payment.  They could even pay “rent” and if they miss a payment, they sleep on the couch. 

This may require a bigger allowance or them getting a part-time job.  Of course, children can’t be responsible for covering all of their expenses without a full-time job.  Parents are still responsible for providing most needs, so make sure they eat and sleep well. 

Parents are also solely responsible, apparently, for providing their children with personal finance education.  We think this may be a helpful way to do so.

If The Queen Can Cut Back, So Can You

Looks like The Queen's private train may be too costly to repair.  Are we watching The Queen live below her means or be money conscious?

Personal Finance in Our Schools

This can't happen fast enough.

Social Security: Don't Say You Haven't Been Warned

10 Things Social Security Won't Tell You.  Basically, try not to rely on Social Security.  Think of it more as a perk.

What's the Worst Kind of Debt?

Here's a list of the pros and cons of various forms of debt.  We would argue that some debit, such as credit card debt, is worse than others.  This article takes a more middle-of-the-road approach. 

RSVPing "No"

43% of Americans say they've declined attending a wedding because of expenses.  We have and I think some brides are still angry with us.  If you can't afford it, you can't afford it.  43% seems a little low, too. 

The Debt Ceiling Discussion in Pictures

CNNMoney has, essentially, put together a PowerPoint describing the issue with the debt ceiling. 

2013 Shipping Wars Are Starting

Maybe you should avoid the malls altogether this holiday season.  We stay away from all malls from mid-November through mid-January.  It's not that hard, actually, and avoids a lot of stress.

Yes, You Can Share Too Much

We don't know why one would share their credit score on Facebook, but apparently some people need to be told don't share everything in Facebook.

5 Quick Money Saving Tips

Five quick money saving tips from which we can all benefit. 

Are You Getting Your Moneys Worth with a Housekeeper?

It's hard to put a value on not having to spend our rare free time cleaning, but here are 10 things to consider.

Is This Anyway to Run a Country?

No, but when was the last time a politician cared more about doing what's right for the country rather than winning an election?

What Government Shutdown?

The stock market closed in the green today, though it was down for the week.  Apparently the market sees all the political theater as just that. 

A Weekend of Wine Without Napa Prices

If you want a relaxing, wine-centered vacation, you don't have to go to Napa.  If you're within driving distances of any of these places, all the better/cheaper. 

Banks + College = Problems

As we mentioned before, students need to be cautious about the financial services being offered by banks through their college.  These relationships seem to be more profitable for the banks sitting on huge piles of cash and colleges sitting on huge endowments than for the student signing up for a life of debt and student loans.

Good Shopping Advice

Jean Chatzky provides good, seasonal shopping advice.  Prepare and mitigate the holiday shopping overindulgence. 

Unemployment by Country

There are interesting charts coming out today in the absence of a jobs report.  CNN compares unemployment by country.  Of course, this doesn't take into account the underemployed or those who have stopped looking.  This fuzzy math isn't unique to the U.S. Government, though.

Football and Beer

If you're lucky enough to afford/have tickets to an NFL game this season, "save money" and drink a lot of beer.

Media Estimate Jobs Report Figures

Without an official jobs report, media outlets are reporting their own calculations.  24/7 Wall St. reports a 142,000 gain last month.  CNBC Squawk Box calculates a 158,000 gain.  Let's hope Congress' circus doesn't through a wrench in this.