Closer to College – Key 529 Plan Facts
You have saved for many years into your child’s 529 plan and now you and your child are on the verge of college tours and applications to decide where your child will spend the next 4 years of their life. Now is a good time to familiarize yourself with some of the nuisances of 529 […]
Both Spouses Should be Involved in Handling Financial Affairs
Division of labor in a marriage can be a good and often necessary thing. It can allow couples and families to be much more productive, freeing up precious time to spend on things they enjoy. In fact, according to Pew Research, the perceived fair division of labor is a key component of a successful marriage. […]
What Is The Best 529 Savings Plan For You?
When saving for educational expenses, one of the key decisions you must make is what savings and investment vehicle is best. We have previously written a blog “How Should I Save For College?,” which talks about which vehicle might be best for you. In many cases a 529 savings plan is the best option, but […]
Merging Finances in Marriage: 3 Pillars of Success
If you surf the internet on should you merge finances or best ways to merge finances, you will get plenty of unique tips, tricks, and plans. Like most things in life, there is no one perfect way to manage your finances in marriage. In this blog, I am going to discuss three guidelines for success in merging finances. I am focusing on merged finances […]
The Importance of Talking to Your Children About Money
Last week, my 11- year old son decided to throw a football across his bedroom resulting in a hole in the plaster wall. This created the perfect opportunity for me to give him one of my infamous money lectures! I informed him that our local handy man charges an hourly rate of $40, and while […]
Ways Parents Can Save Money on Taxes
Parents know first-hand how expensive it is to raise a child. New or expectant parents are often shocked and unprepared for the costs. To soften the blow, it helps to know there are provisions in the tax code that offer cost savings to parents, specifically, Dependent Care Flexible Spending Accounts and Child Tax Credits. Dependent […]
Preparing Financially to Start a Family
So you would like to start a family, but in the back of your mind you are uncertain and a bit overwhelmed by the financial obligations you may be shouldering for the next 18+ years of your life. These are legitimate concerns. According to the 2015 USDA report Expenditures on Children by Families, a middle-income […]