February 23, 2012

Posts Comments

Financial Tips for a Single Teen Parent

Contrary to what many might believe, there is a manual for life (which includes parenting). Here’s how many think life should work:

  • You grow up.
  • You graduate.
  • You get a job.
  • You get married.
  • You have children.
  • You retire.

Pretty simple, right? But if you are a single teen parent by chance, you’ve skipped a few of those steps and are now probably fumbling somewhere between having children and retiring!

The Tough Job of Being a Teen Parent

But not all is lost for you. You can make it work to some degree with no fax payday loans, family loans or overtime if you follow these important steps:

1. Family Can Help!

Your mom. Your dad. Your uncle. Your aunt. They can help. That’s especially true if you work hard to make ends meet and show that you’re responsible. And you can save on child care in the long run.

2. Take the Tax Break!

This gives you a financial edge, one you’re definitely going to need for all those extra diapers. Tax time is crucial. Many might not realize it, but you can actually get a tax credit for child care if you’re a working parent.

3. Be Honest With Your Children!

You reduce your stress if you’re able to make it clear to your children that you can’t buy that Justin Bieber concert ticket or Jonas Brothers camping tent!

An Easier Way to Make Life Work For You

Those are your three tips. Hopefully it’ll make your journey as a teen parent–unfortunately skipping some of the steps–an easier one. Once you get things right, know this: that Justin Bieber ticket will look that much more desirable!

Filed Under: Finance Tagged With: , ,

Easy Shopping Tips For Teens

Earning and spending money is a bittersweet experience. Hours of working puts it into your bank account, and in just a few moments all that money earned is spent. After a few days you either love the item you bought, or you wonder what you were thinking when you purchased it. Don’t feel bad. Advertising targets our emotions, needs, and desires. Everyone at one time or another has bought something on impulse. Here are some easy shopping tips to help make sure that most of the items you buy you love.

  • Check your social calendar each month before going shopping. What events are about to happen in your life? Do you need to buy an outfit for a wedding? A bathing suit for the pool party?
  • Check regularly what basic items you need for work or for school. Make a list.
  • What time of year is it? If it is becoming colder, do you have coats, sweaters, and proper shoes? If it is becoming warmer, check what summer items you have on hand.

Once basic needs and supplies are purchased, it is time to think about items that are fun or make you happy. It is important to take care of you, and develop a style all your own. Take a look at all your favorite activities, hobbies, rock stars, etc. and decide what part of that is going to become a part of you.

Now it is time to comparison shop. The Internet makes this easy. Some items are best bought over the Internet from sites like http://www.offers.com.If you order from the Internet, check the customer reviews. Items you buy from the store, check with your friends and see if they were happy with the item.

Enhanced by Zemanta
Filed Under: Fashion, Finance Tagged With: , ,

Sharing Hard Won Lessons

Checkbook-ageddon

Image by adamthelibrarian via Flickr

One of the most profound and life affecting things you can teach your teenager in life revolves around basic financial concepts. Most teens prefer to do more low-brain stuff like hanging out with friends, playing video games, listening to music, and catching the latest movies. Because of this, they usually don’t seem like the right candidates to learn about money and the effects it can have on one’s life.

 

But there really isn’t a better time for a teen to learn these basic ideas. Earlier in life, they’re too young and too removed from money to truly understand what balancing a checkbook is about. They’re not going to grasp the concept of debt, ala credit cards, when they’re still learning how to ride a bicycle. And teaching your kid about money in the days immediately before they head off to college gives them no time to practice the basics in the real world. No, the best time for them to learn, and apply the basics of finance, is when they’re still debt-free and without money worries.

 

By catching your kid at the right time, you’ll give them the time needed to absorb and implement wise financial decisions. Perhaps some of these will be ideas you wish some one had told you when you were young, such as, “Don’t spend money you don’t have. Nothing is worth the eventual price.” Wise parenting means sharing the lessons you’ve learned in your own life. Not only the lesson, but the timing as well, is important. Think about the best time to deliver each financial lesson you’ve learned.

 

Enhanced by Zemanta
Filed Under: Finance, Personal Development Tagged With: , ,