2014 Financial Resolutions

This time of year, a lot of us start making New Year’s resolutions. We want to get in shape, quit smoking, spend more time with our families, etc. As 2014 quickly approaches, it’s important to consider making resolutions that could keep you financially fit as well. Here are a few resolutions to help you kick those bad habits that may be holding you back from pursuing your financial goals:

 

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Planning on Paying for Your Kids' College Education? Consider a 529 Plan

If you're like many parents, not only do you feel somewhat obligated to put your kids through college, but there's also a big part of you that really wants to give your children the gift of higher education. College is anything but cheap, and it will only become more expensive as the years flash by. It is for this reason that it's best to begin saving for a child's education while they're still in their infancy — yep, that's the ideal starting point. But even if circumstance didn't afford you the ability to set aside funds from the time your kids were still in diapers, that shouldn't stop you from starting an education savings plan once you're able to afford it.  

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5 Things To Know About Your Parents Financial Future

Parents spend their entire lives planning for their children’s future but, as goes the circle of life, there comes a point when that responsibility starts to shift.  Many children take on the role of caretaker for their parents.  They do all the things that their parents once did for them: drive them to the store, make them their meals, and so on.  Well remember when you were a kid and your parents gave you an allowance, or only let you spend a certain amount of money at the store?  They were, in a small way, helping protect your finances and now, one of the most important aspects of becoming involved in your parents’ lives is helping them managing their finances.  Of course your parents might not take well to you handling their allowances or expenditures, but it’s important that you get involved early and often in your parents financial planning.

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