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7 things you can do now to solidify your child’s financial future

USA Today – Cheryl Lock

“If you have kids, or are considering having them, you’ve likely started thinking about what that will mean for your finances. But have you thought about how you can help your kids become prepared for their own financial future? There are plenty of things parents can do now to help set their kids down the right path financially. Here are a few.”(more)

Financial Education: When to start talking about saving?

WCSH 6 – Addison Boroff

“How important is financial education? A significant part of financial capability is the ability to make ends meet through adequate savings. Having resources for immediate medical needs is also an important component. In Maine, 15% of individuals reported that over the past year, their household spent more than their income (not including the purchase of a new home, car or other big investment), while 23% of individuals reported having medical bills that are past due. Individuals who are not balancing monthly income and expenses are not saving and thus may find themselves struggling to make ends meet. Overdue medical debt can further compound a household’s ability to meet monthly financial obligations. Getting students to have a better understanding of financial education before they become adults is important in helping them to become successful adults with money management.”(more)

Teach Your Children about Money this Financial Literacy Month

The Wayne County Journal Banner – Staff Writer

“April is Financial Literacy Month, an ideal time to think about the lessons your children are learning about money. Setting a good financial example is just the start. Parents should also actively engage children on the topic. These lessons can help put kids and teens on the right path towards a financially responsible adulthood.”(more)

Tips on teaching kids about money

The Christian Science Monitor – Staff Writer

“Since kids may not get a lot of personal finance education in school, teaching them about money is largely up to parents and other caregivers. Here, organized mostly by age level, are some important lessons you can teach your kids to help them develop good personal finance habits.”(more)

Paying tuition in 2017? These tax breaks could save you thousands

USA Today – Matthew Frankel

“If you’re planning to pay tuition in 2017, either for yourself or for a dependent, you may be able to take advantage of one of three valuable tax breaks. The best tuition tax break for you depends on your income and the student’s status in school, and here’s a quick guide to determine which you qualify for. In order of most lucrative to least, here are the three possibilities.”(more)

These Are the ‘Building Blocks’ That Lead to Smart Money Decisions

Time Money – Dan Kadlec

“These three skills are essential, and should begin to be understood as young as 3 years old. How do kids learn sound money practices? The answers have eluded financial educators for years, and the lack of clarity as to what works best has fueled resistance to pouring more resources into the effort, especially in schools. Critics make many valid points. But they also jump to a faulty conclusions. And as Richard Cordray, director of the Consumer Financial Protection Bureau, said recently: “I have never found [the resistance] convincing. To me, all it says is that we simply have not yet been at this work long enough.” The need for broad financial education has never been more apparent.”(more)