How to Talk about Money with Your Kids

How to talk about money with your kidsThere’s no doubt talking about money can be challenging to talk about money with your kids. But don’t let that stop you from being honest about your finances with your children. If you aren’t sure how to get started, let this guide help you open up.

  1. Explain why you’re saying no

The hardest part of living on a tight budget is the fact you’ll have to tell your children no. You simply don’t have the money to get everything they want — whether it’s an extra treat at the grocery store or a new video game.

Rather than leaving it at “because I said so”, let them know why they can’t get what they want. You don’t have to pull out your budget and show them your exact finances, but you should be honest.

  1. Make it a dialogue

Depending on how old they are, they may start worrying if you talk about your finances in a negative light.

The purpose of your chats isn’t to place the burden of worry on your children, so be careful about the language you use.

One way to keep their worries at bay is to avoid one-sided conversations. If you steamroll through a talk about the family budget, you won’t give them a chance to ask questions. You may not even realize they’re bothered unless you take a breath.

  1. Don’t overshare

First and foremost, you’re the parent. You need to educate while reassuring they’re safe.

While you’ll want to be honest about your family’s finances, you must remember your kids:

  1. May not have a strong understanding of finances, let alone how money works
  2. Are not your financial advisor or guidance counselor

You’ll need to talk about money in ways they’ll understand. But more importantly, you shouldn’t use these discussions as a chance to unload about your own fears for the future.

  1. Make it age appropriate

How you talk about money depends on their age.

A child who’s just starting school doesn’t need to know about personal loans. A teenager, on the other hand, may appreciate the fact you need to take out an installment loan.

In fact, talking about cash loans may be a great idea if your children are thinking about college. They may already have questions about lines of credit and personal loans, so a discussion about credit options could help them make sound financial decisions.

Use your own finances as an opportunity to talk about when could you use a personal loan to help with an unexpected bill. Walk them through the entire process, so they know what to expect if they ever need to take out one on their own.

  1. Get them involved

Generally, money is a serious topic of conversation. One way to lighten up the subject is by enlisting their help to save more money.

Relieve some of their worries by making saving a game. You can do that by:

  • Playing a twist on scavenger hunts, where the goal is to find the cheapest price for an item
  • Giving them a calculator while you grocery shop to make sure you spend under a limit
  • Rewarding whoever can cut the most coupons or take the shortest shower

Most parents have a lot of hang-ups about money that stops them from talking about it with their kids. Don’t be one of them. Rather than let your anxieties control how you discuss your finances, talk openly about money. It can help your kids become financially literate adults.

How to Teach Your Children the Value of Saving Money
Saving Money When on A Family Budget
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Senior Living and Memory Care For Alzheimer’s

It’s important to learn about the onset of first signs of Alzheimer’s senior living and other dementia-related symptoms are quite easy to confuse with aging. But, progressing symptoms can finally lift off the veil and make you wonder if it’s time to look for memory care service for your senior member. You can control the growth of this ailment by seeking early medical intervention. With the help of the right kind of medication and therapies, people suffering from such mental illnesses can continue to live in their homes for long without any worries. For a consultation, you can go to your primary care doctor.It's important to learn about the onset of first signs of Alzheimer’s and other dementia-related symptoms is quite easy to confuse with aging.

Anyway, once this disease catches up with someone, the person would need regular supervision eventually for their well-being and other’s safety. So, when you plan to move your dear one to a dementia care home nearby, make a note of following points before finalizing a place.

Security arrangements

Tour the entire facility to understand how it will deal with residents who try to exit it. Some memory care centers keep their main entrance locked every time and keep elevators used by staff and visitors under strict observation. Then, some facilities provide residents a wearable bracelet that comes with an electronic sensor to track their movements. Besides, security alarms on beds or wheelchairs are also added so that the caregiver is immediately alerted when a patient attempts to get up, forgetting he or she needs assistance.

Provision for fresh air and recreation

While being alert to the risk of exiting behavior of these patients, the memory care homes need to include a safe outdoor area in their facilities for them to breathe in the fresh air and spend time in recreational activities. For that purpose, some homes build circular paths inside and outside the facility where patients can walk.

Planned daily activities

Having an array of scheduled events for dementia patients under the observation of trained nurses and therapists is critical for their physical and mental health. So, check what all activities these facilities offer. It can include art therapy, singing, bread and cookie baking, etc.

Medical services

The senior retirement living homes generally have specialists visit their facilities to cater to the psychological and psychiatric needs of these patients regularly. They prescribe medicines and therapies based on the condition of the patients. So, check if physicians and other specialists visit the memory care unit. It will remove the need for taking the patient to a clinic every time.

Caregivers and nurses

Although only a licensed nurse should be allowed 24X7 at these facilities to handle any medical emergency, you can inquire for how many hours the skilled nursing services are available and how personal caregivers are equipped to deal with urgent medical cases. Ask them how they hire their staff and what training they give them.

The number of staff for the number of patients for best care

The cost of memory care homes is higher than a typical nursing home because they need to hire more staff compared to the number of residents in their facility to ensure their safety and security. So, ask them how many staff members they have for night duty and day job.

These are a few considerations that you need to make while choosing a memory care unit for your loved one so that he or she can continue to lead a comfortable life.

Best Ways to Care for Aging Parents
Helping Your Elderly Parents To Enjoy Happy And Healthy Lives
When is it Time for Assisted Living for Seniors?
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How Can Single Mothers Plan Their Budget Efficiently

Creating a plan as a single mom to manage the finances to run her home and take care of her family can be challenging.
Creating-a-plan-as-a-single-mom-to-manage-the-finances-to-run-her-homeWhile as a single mother, a woman that is trying to run her family, then the situation can be very tough to be compared as the hardship of a family that has to be run without any earning member. The situation is not at all similar when a couple runs as a family based on their partnership, contribution, and love. The matter of making a budget for and running a household is an important topic that has to be decided when you have to take charge of it.

And if the situation is that you are a single mother who has no other to help in her life and has guardianship of her kids there might be in difficulty to decide on quick decisions for your household along with your kids. If life has compelled you to ride in a boat like this, then you must consider the following tips that will make your struggle easier as there are habits that you will be able to improve by getting at the forefront economically.

Gain knowledge about making a budget

To understand budgeting for your family, you need just a bit of training. When you are the head of the household for your family, you have different responsibilities to carry out on your own.  While managing your job you, on one hand, you have the responsibility of your children and liabilities of your whole family, and you have to pay for all expenses single handedley.

So the knowledge of creating a budget is inevitable if you have to handle your family finances. A good budget offers an opportunity for you to assess where your money is being used, as the luxury of that stop at the coffee shop for an expensive latte, you might make and take it from home.

With a prepared plan of finance and a good planner, it is possible for you to make the right assessments and understand where you should lessen the expenses which are continuing unnecessarily.

There are lots of options, which include making a note of your every expense in a paper or maintaining a diary or planner.  You may also get solutions from the internet, which will assist you in making a budget for your family very easy.

And before starting your job, you have to plan about the style of your budget and make suitable options for you. But one thing you have to remember is there no one answer to your questions about your budget. You can change and transform your financial plan to whatever time you would like to.

Make a routine of your investments

No doubt, it is very hard to keep your money as a single mom. If you have a plan to save a tiny amount for your future and after receiving your paycheck, it only takes a few dollars each month. If you are using a routine option for saving, your money will accumulate without little effort. To start savings, you should make routine investments. This will help you to save ten percent of your money whenever you are paid.

Include a disaster account

There is a possibility there will be an occasion when a disaster fund is required to handle the situation, and for a single mother, it is not always possible to borrow money from her spouse or to get the amount from friends or family that will help her in her financial crisis.

This is the reason it is imperative for you to save up for an emergency or another crisis period. You could set up an account at your banks for such needs

By having a fund of emergencies, you can stay away from falling into any debt or experiencing something worse than that. It might happen that you are not able to find the money for important necessities, like having a repair service of the car or repair service of your home or an unexpected bill While no fixed rule is set for you as what amount of money you ought to save in your crisis fund; you should shape it according to your present income, daily expenditure.

Don’t be frightened to request help

The Bureau of Census of U.S. carried out an investigation in the year of 2016 which completed with the conclusion that the support of the child symbolizes 47% of an income for that parent who has taken the custody of a child and gets child maintenance fees accordingly. These parents live under the level of poverty. While the support of the child is favorable, there are some new programs that act as resources to recommend financial help, learning facilities and assistance for the housing.

Some organizations will facilitate to get employment for you. They are there to offer you a vocational education, and assistance for the care of your child. There are some other useful programs where the authorities help the single mothers with the cards of the debt pattern to facilitate them to buy food. You can also consult with for the same purpose.

Whilst all these financial resources are set to assist all the single moms in need of their finance, it is also very true that they are measured as temporary income with the intention that all the moms can regain their confidence and can earn money for their family.

Instruct the children

While making plans for the needs of your family, it may be difficult for you to train your children about the habits of smart finance. However, it is a very important step, particularly if you want your children to plane for the future as a person of economic independence.

Programs on television, books, and podcasts, can assist you in this matter which will provide vital lessons in finance for your children. Not the education of finance but making bond for your children can teach them about healthy habits of money.

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Related Debt Management Articles:
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Friday Feature Linky Party

Friday Features Bloghop Sorry for the late start this week, the fun stuff gets put off for lifes twists and turns. But here we go!!! Personal Update about my hubby Don, he is doing well, starting the road to recovery, PT starts today. Thank you again for all of your kind thoughts and prayers, it helps me every day to manage what was a very scary time.

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