Money is simple – people make it complicated.
That’s what Jean Chatzky believes, based on 20 years of helping people answer their money questions. Jean is the author of five books, financial editor for NBC’s Today show, contributor to Prevention and Newsweek magazines, and she has put together over 90 easy-to-understand tips in her book: “Money Rules: The Simple Path to Lifelong Security“.
Read more on People who live by these rules don’t have money problems…
Once again, it’s true confession time: I don’t know a whole lot about money. Of course I can balance my check book (Actually, I don’t even do that anymore since the internet does it for me) and manage all the very basic stuff like paying the bills and saving monthly for special purchases. I have a 401k but I really have no idea what to actually do with it as far as the investing goes.
Read more on Ladie$! Knowledge i$ power and it’$ time to get $ome…
Should credit unions offer financial education programs to people your age?
I really do think that lack of knowledge about the whole “how to manage your money” shebang is why people my age aren’t more involved with their money. I’ve had a credit union account for years, but until recently, my parents always handled everything. Now that I understand we are paying tens of thousands of dollars for college it feels real to me, even kind of scary. It’s even scarier when it is something I’m told is normal.
Last week we posted a poll on what you wanted to ask Sam next, and the winning question was: What do you and your friends want from a financial institution?
Anything you can do to make our lives easier would be welcome, starting with letting us know what all you can actually do to help us. Most people my age have no idea what differences there are between credit unions and banks, much less what the benefits of joining are.
Read more on Ask Sam: What do you and your friends want from a financial institution?…
I haven’t shared any tips with all of you in quite a while. I like tips. They’re short and sweet and easy to remember. And in this case, they’re great things you can share with your members through web graphics, tweets, your ATM screens or posters in your lobby.
Gen Y needs help! Really.
I’ve written about this before – the great need to educate kids about all things financial. I know I was never taught. I guess I just figured it out myself but I know I didn’t do a very good job. If I had money in my account, I thought I could spend it. I didn’t think about what bills might be due down the road. Or saving anything.
Preparing for the worst isn’t any fun. Most of us don’t want to think about it, much less talk about it. The death of a spouse, loss of a job, divorce or a catastrophic illness can turn your life upside down, emotionally and financially. But planning for the worst can actually save you from additional hardships.
In recent months here at iDiz, I’ve noticed an increase in the requests for marketing recommendations for the youth market. Maybe marketers have realized that one of the best places to get new members is the children of their current members. It’s vital to get your credit union name out there and known to kids before they turn 18 and graduate from high school.
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