Surviving Family Financial Hardship: My Story
by: Rachel Paxton
My daughter is 18 years old this year, older than I was when she
was born.
For years we lived on a very low income and barely
made ends meet.
She watched me work my way through college, studying hard, often
working more than one job to make ends meet. If you were to ask
her now if we had any money when she was young she would tell you
she didn't really know. She never went to bed hungry and always
had clean clothes to wear.
She always had toys to play with and
mom was always there for her when she needed her. That is what
she remembers.
My daughter is now applying for college herself, and wanted me to
read her college application.
She had to write about herself and
her life, her relationships, etc.
I was very surprised to read
what she thought about her childhood.
We have lived through a
lot of tough times and there are a lot of negative stories she
could tell.
What she described is how thankful she was for the
hardships she has endured and how she has become a strong woman
because of her life experiences.
She credits me for her drive
and determination.
She attributes her money management skills to
my example.
Her essay made me realize that it is not the experiences we go
through that shape us--it is how we handle those experiences.
When you are enduring financial hardships, if you make poor
decisions, your children will see your decisions and feel the
impact of those decisions.
If you make good choices, your
children will learn from those choices also, regardless of your
financial circumstances. Every choice you make affects the people
your children will some day become.
If your children see you
charging up your credit cards (regardless of how much money you
make), they will think that is normal and will learn those
spending habits from you. If you live on a low income and spend
your money wisely, your children will learn to manage their money
well.
You can not teach your children what you do not model.
Your
children need to learn to budget their money, however much money
that is, to not accumulate debt, and to shop wisely.
You can
teach them this from a very young age, with even their
allowances.
Sit down and really take the time to decide what you
want your children to learn about money and start modeling those
behaviors for your children today.
About The Author
Rachel Paxton is a freelance writer and mom who is the author of What's for Dinner?, an e-cookbook containing more than 250 quick easy dinner ideas. For more recipes, organizing tips, home decorating, crafts, holiday hints, and more, visit Creative Homemaking at http://www.creativehomemaking.com.
|
UK Consumers Start Clawing Their Way Out Of The Financial Debt Pit
UK Consumers Start Clawing Their Way Out Of The Financial Debt Pit
by: Michael Hanna
Another year ended, and another round of UK debt statistics.
CreditAction has just announced the latest summing up of the personal debt situation in the UK.
Their figures show that the end of 2005 has seen the total level of personal debt rise to an astounding ?1,158bn, an increase of ?100bn compared with the same time last year, and this debt is increasing at a rate of ?1m every 4 minutes.
These levels of debt affect everyone in the country, and have become a way of life.
The average household debt is ?46,863 including mortgages or ?7,786 including overdrafts, finance deals, credit cards and unsecured loans, but excluding mortgages.
To break this down further; CreditAction report that the average UK adult owes ?4,125 excluding secured loans, or ?24,833 including mortgage loans.
The Financial Services...
UK Consumers Start Clawing Their Way Out Of The Financial Debt Pit
Financial planning > UK Consumers Start Clawing Their Way Out Of The Financial Debt Pit
Planning For Retirement
Planning For Retirement
by: Stephen Kreutzer
When looking towards retirement many people just think about the joy of not having to work anymore. Unfortunately, even though a person retires they still have bills to pay. The need for careful planning is perhaps the most overlooked part of retirement. Having a set plan in place before retirement will help to ensure the golden years are golden.
The following list gives some great points on how to plan for retirement.
1. Save money. Before retirement setting up a savings account or 401K will get a person prepared for life without a steady paycheck. A 401K is usually sponsored through an employer where the employer matches contributions the employee makes. Money put into a 401K also goes untaxed which can mean immediate savings. IRA?s are also another way to save for retirement. These accounts are also not taxed.
2. Determine your expenses after retirement. A person should have a fairly...
Planning For Retirement
Financial planning > Planning For Retirement
How To File A Report In Case Of A Car Accident
How To File A Report In Case Of A Car Accident
by: Daniel Richards
If you have been in a car accident, you must immediately file a report to your insurance company. Accidents have been increasing but some people do not have enough knowledge on how to deal with these cases the right way. You may have encountered an accident or you may just be part of the accident. Either way, you should know what to do after the accident has happened.
If you witnessed a...
insurance quotes Financial planning Surviving Family Financial Hardship: My Story
Financial planning > How To File A Report In Case Of A Car Accident
Financial planning Surviving Family Financial Hardship: My Story voip