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If you’ve had to reconsider or drastically change your spending and saving habits because of the current economic environment, you’re not alone. But there may be an opportunity in this current market to teach good financial habits to your teenagers; ones that they can carry into adulthood.

Walking across the stage and receiving your college degree can be the first step toward adulthood. Gone is the structure of education, replaced by the uncertainty of finding your first professional career.

But one thing that is often certain after graduation is student loan debt.

The recent stock market volatility, the bear market, the ever-growing inflation rate, and ongoing supply issues have taken a severe toll on the American psyche. For some, it has forever altered how they perceive and manage risk.
Understanding your risk tolerance is considered one of the most important elements of investing.

If anything good has come from the last few years of uncertainty and volatility, it’s that many of us are becoming more financially literate. We’re more aware of our finances and are better at prioritizing our expenditures. We’re also more aware of how important it is to save for the future, while still enjoying the present moment.

For many families, finances are rarely discussed in detail, even as children mature into adulthood. But as your parents age, especially if they live into their 80s and 90s, there's a chance that they may lose their cognitive function and be less capable of managing various tasks. This can be upsetting for some parents and they may try to fight it, or deny that it’s happening.

As a young parent looking to the future, you may be faced with a daunting choice: do you save earnestly to secure your retirement, or save to fund your children’s education? 

It’s believed that retirement planning as we currently know it didn’t really exist until a few decades ago. Up to that point, people worked until 65 and then sailed into retirement on a pension plan.

It’s no secret that the cost of pursuing higher education is becoming unaffordable, even for affluent families. But if you have aspirations of sending your child to college, it is possible, but there are some details to consider.

Donating to charities is a win-win when filing taxes. You get to help a cause you care about and can claim dedications on cash contributions. But what happens when the charity you’ve given to is fraudulent? You’ve now donated to a false entity, haven’t helped the cause, and cannot write it off on your taxes.

Unlike the summer family reunion and work meetings, you can always count on a few specific dates every year. Days like birthdays, holidays, anniversaries, and Tax Day. But even if April 18th is hardwired into your brain and calendar, sometimes it makes more sense to file for an extension instead of the tax deadline.