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Money Management Lessons From My Son

Money Management Lessons From My Son

I consider myself fairly sophisticated about money management and how important it is to teach our children financial responsibility. But it took a conversation with my frustrated nine year-old to open my eyes to two-key elements I had been overlooking. And what a difference they can make to a kid’s understanding of handling money. Here’s what happened and what I learned.
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Legacy Planning Is a Journey, Too

Legacy Planning Is a Journey, Too

It’s certainly well known and by now is probably bordering on the cliché: “Life is a journey, not a destination. “ But over usage hasn’t changed the basic meaning of the phrase. While there are a number of nuanced interpretations, basically life’s journey is simply how life – and the person living the life — progresses from one situation to another, filled with circumstances, positive and negative, effortless and challenging, successful and unfortunate.
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A Legacy Plan for Your Pets

A Legacy Plan for Your Pets

Since our pets have shorter life spans, we don’t typically think about outliving them. But it does happen. It is estimated that between five and seven million companion animals end up in animal shelters due to the death of their owners. For some pets, they are lucky to be surrendered to a no-kill shelter and will live out the rest of their lives with good care. Unfortunately, another nearly three to four million of them end up being euthanized (60 percent of dogs; 70 percent of cats) when new homes can’t be found.
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Money and Marriage

Money and Marriage

Why do so many couples have trouble talking about money? In a survey by the National Foundation for Credit Counseling, 68 percent of the people responding held negative views toward having a discussion about money with a fiancé. Five percent of them even felt that it might lead to cancelling the wedding.
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Kids, Chores and an Allowance

Kids, Chores and an Allowance

There seems to be an ongoing debate over whether or not a child should be paid to do chores. Most people feel a child should be expected to help out around the house because they are part of the family, not because they get paid to do it. You don’t want to create little mercenaries who balk at helping unless they are paid to do it. But an allowance that is just handed out becomes just that – a handout – and doesn’t help a child learn the connection between work and pay. 
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