Ways To Raise Frugal Kiddos

I recall what one of my friends often say, "What kids want, kids get!". Many parents try to endure this reality in a rather painful way. They succumb to the apparent truth that today's children are very different from how the children of the previous years were. But hey! There are many things which can be done to get this straightened out. Only a few parents though are willing to give them a try because they involve discipline among the parents as well. Yes. In their desire to avoid arguments, parents just give in to their children's wants and forego the opportunity of teaching them frugality.

Limit your children's access to TV and internet - All the attractive products - particularly toys which kids today can think of are marketed through these mediums. Seeing advertisements involving kids of their age who hold the latest gadgets in their hands cause every kid to be envious, whine and prod their parents to buy what they want.

Remove electronic gadgets as much as possible - Although electronics do not carry advertisements, they make kids want the latest models as they see the newer versions other kids may have. Also, electronics limit kids from doing more worthwhile activities like playing outdoors and with other children of their age.

Teach values and stay connected with families who adhere to similar values - Tell your children stories on saving and highlight the wonderful benefits you can get from doing so. Most of the time, kids have to be reminded every now and then that they do not need to have the latest gadgets in order to feel happy. Surely, you have friends who teach similar concepts. Connect your kids with their kids so that your little ones would not feel alone regarding this matter.

Drawdown Dangers – What It Means To Traders

Drawdown is a word that is feared and hated by every trader, but it is an inevitable part of playing the markets. It is simply how much your account loses from its peak. Suppose you start with $10,000 in your account, and after a succession of losses the account goes down to $7000. That means you have lost $3000, or 30% of the original starting $10,000, and therefore your drawdown is 30%. Drawdown is relative to where your account peaks, so say you had a good run and built the account up to $12,000, then lost $3000 again, bringing it down to $9000. Your drawdown this time would be $3000 from $12,000, or 25%. Maximum drawdown corresponds to the lowest your account ever hits. Sometimes you will see trading strategies detailing how much maximum drawdown is expected to be when using them – usually the more risky strategies will anticipate a greater drawdown while expecting a higher profit on average. Drawdown is particularly dangerous because, the way statistics work, you ...

How to Secure the Future of Your Child with Special Needs

If you have a child who is differently abled, you will agree that leaving your child with no financial support in the future is very daunting. Believe it or not, you can prevent this from happening by securing a special needs fund for your child as early as now. Because a child with special needs may be disqualified for public benefits, the aim of this type of trust fund is to give a convenient lifestyle to them without limiting their access to all available benefits. Generally, the creation of this fund is structured to supplement any assistance the government may provide concerned children in terms of clothing, food and shelter. The four important components of this trust fund are the asset, the beneficiary, the trustee and the purpose. The asset is the special needs resources that will be placed in a trust. The beneficiary is the concerned child while the trustee is someone who will be in charge of the disbursement of the funds. Meanwhile, the purpose serves as th...

All You need to Know About Borrowing Money from Family

Borrowing money from family and friends can be a perfect solution, but be sure to look at the pros and cons of this approach. Before you join the bandwagon, review first this short list of its advantages and disadvantages. The Pros Flexible Terms: Unlike other forms of traditional finance, funding from family and friends is typically offered on flexible terms. Friends and family may agree to a longer repayment period and may seek a lower rate of return than traditional lenders. On a practical level, little or no security is required and the repayment can be tailored to your financial projections. Minimal charges: One of the greatest advantages of borrowing money from friends and family is that the funds are offered at little or no interest. As a start-up or loss-making company, the interest rate charged by traditional lenders can be very high. Easy to set-up: On a personal level, the family member or friend already knows your ethos and business circumstance and so are less likely...

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