Finance Tips – Simple Living

Finance Tips – Simple Living

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We have all heard about the don’t pay a cent event at our local furniture and department stores. The idea behind this came from the store layaway. With layaways you put a certain percentage down on your purchase and on a weekly or monthly basis you would put more money down until you paid off the balance. The only caveat with a layaway is that you don’t get to take your purchases home.

Its okay to talk about teaching the kids but how many of us really know how to go about the teaching that will be needed. We cant approach children like adults when we are talking about money management. When I talk about age I mean we can start to teach them even as early as 5 or 6 years old. Of course at age 5 we most assuredly don’t want to get to crazy.

Here is how they work best – lets take for example an up coming event that requires a substantial gift or household item: Set out a total budget for the purchase – $500

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Here are some things we can do to rescue back a slower pace to our lives and become more consciously aware of and in charge of our finances.

If you want to get your child pouting then a sure way to do that is take money without an explanation. Of course your intentions are good but honestly they don’t know or understand that. It really does come down to a fine line when it comes to kids saving money. They don’t care because all they want is candy and toys.

Determine if $50 a week is an amount that is acceptable for you. The store will sometimes work with you to help you determine a solution

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10 percent should go to charity, 25 percent should go for the child and the rest should go to savings. Of course these numbers are not set into stone. I suggest you sit down and discuss the different options with your child and see what you guys can come up with together.

Often people show up somewhere and spend on impulse and these places are set up to encourage you to do just that.

Hi readers my name is Harris Smith, thanks for reading this article I hope I will be useful to find home equity line of credit

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