New data show that girls aren't getting the financial education boys are. Find out what they both should know.
This post comes from Richard Barrington at partner site MoneyRates.com.
Women are not as good with financial matters as men.
It's a stubborn stereotype, and if there is any truth to that statement, it may be because it has been made into a self-fulfilling prophecy by differences in how boys and girls are raised. A recent survey by T. Rowe Price found that parents are more likely to discuss financial goals with their sons than with their daughters, and that boys are twice as likely to have their own credit cards as girls.
This comes on the heels of a MoneyRates.com survey that found that boys are more likely than girls to receive financial education in school. So, both at home and at school, girls are being shortchanged when it comes to financial lessons.
Money wisdom for all children
Given that men and women alike have to manage their personal finances, it is equally important to teach boys and girls some fundamental money skills. Here are six financial lessons you should teach each of your kids before they leave the nest:
The golden years probably had more gold for your parents than they will for you. Here’s why and what you can do.
This post comes from Marilyn Lewis at partner site Money Talks News.
Regardless how old you are now, it's likely you'll have a harder time pulling off a financially secure retirement than your parents did.
Many of us haven’t planned and saved well, it's true. But, also, fundamental changes in American life make it harder for today's generations to achieve a comfortable life after work.
Business travelers can save on lodging by booking outside the city center.
Harvard research indicates that the chasm between the rich and poor continues to grow and that there's no sign it will narrow anytime soon.
This post comes from Krystal Steinmetz at partner site Money Talks News.
Only part of the economy is prospering, and that’s going to end up hurting us all.
That's the finding of a new Harvard Business School study (.pdf file) on U.S. competitiveness. The study, based on interviews with 1,947 Harvard Business School alumni, said that although larger U.S. companies are showing good signs of recovery since the financial crisis, things don't look nearly as sunny for many American workers.
According to the study:
A truly competitive U.S. economy would lift both firms and citizens. But our survey findings and other evidence reveal that that is not happening today in America. Instead, our "recovering" economy is doing just half its job: The typical large or midsized firm in America is rallying or even prospering, as are highly skilled individuals. But many middle- and working-class citizens and small businesses are struggling.
The Boston Globe reported that while the average income rose 4 percent in the past three years, "most of that increase has been concentrated among the highest earners. Meantime, the income of a typical family has dropped 5 percent, to $46,700, from $49,000 in that period."
That ever-widening gap between America's rich and the middle- and lower-class is "unsustainable," the study said. It explains why, while offering a prescription for change:
Take these steps to make sure you're not paying more for a car loan than you really need to.
Car loans are growing bigger and bigger. The average amounts auto buyers financed hit highs this year, according to Experian Automotive:
- The average new-vehicle loan in the first quarter of 2014 was $27,612. That's $964 more than last year.
- The average used-vehicle loan was $17,927 -- up $395 from 2013.
These are large loans. Before you speed into this kind of debt, why not pause to learn how to keep down your borrowing costs?
Some colleges and universities actually guarantee that their students will find jobs after they complete their degrees. Discover which institutions are going out on a limb.
This post comes from Maryalene LaPonsie at partner site Money Talks News.
Nearly 20 years ago, when I was preparing to graduate from high school, college was not a choice; it was an expectation. Time and time again, it was stressed that without a degree, my classmates and I would find ourselves flipping burgers for life.
Over the years, as student debt has climbed and some graduates find they aren't getting their dream jobs, the tide seems to have turned. Today, we have former Secretary of Education William Bennett questioning the value of four-year degrees, while others are outright dismissing the importance of all formal higher education.
Perhaps to get students (and their checkbook-holding parents) back on board, some colleges and universities are now guaranteeing their degrees will translate into jobs after graduation.
By packing school lunches in your very own kitchen, you'll no longer have to trade nutritious for quick and easy.
Experts say the value of a used iPhone drops up to 20 percent within weeks of a new release. Find out how to sell your old iPhone before the new iPhone 6 hits stores.
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Some workers lose up to a quarter of their paychecks paying off old debt from credit cards, medical bills and student loans, as well as child support.
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