How to Make Your Financial Dreams a Reality

Celebrating Black History Month is a tremendous opportunity to acknowledge our past achievements, address present challenges and dream about future possibilities. The legacy of Dr. Martin Luther King Jr. inspires us to dream about a future that affords us to live in comfort and prosperity. He encourages us to build a legacy of hope and freedom that can be realized in every aspect of our lives. It is in that spirit that we encourage you to evaluate your dream of …

Debt: A Deal Breaker in Millennial Romances?

We heard through the grapevine about a boomer couple upset because their son, who graduated from a prestigious college and professional school without loans, was marrying a young lawyer with tens of thousands in educational debt. The parents feared that paying off this financial burden would delay the couple in buying a house and starting a family. Wisely, they chose to say nothing. Their concern is not unwarranted. Millennials who are able to get ahead financially by owning a house …

10 Financial Tips for the Kids

We all want our children to be successful and happy. And though being financially fit won’t make anyone happy in and of itself, it can at least take away money stresses and allow the kids to pursue happiness. Just in time for Financial Literacy Month, three journalists from the Wall Street Journal offer 10 great tips in the video below. Get the latest tips on protecting your money and saving for retirement — AARP Money newsletter » Here are the 10 …

Millennials Are Spending Less and Saving for a Rainy Day

While waiting in line last week at Starbucks, I realized that I was the only “guest” ordering black coffee — not a grande, no-foam macchiato concoction — and the only person using cash. The mostly millennial customers were flashing a smartphone app or swiping credit or debit cards. The way our adult children spend and save money is very different from their boomer parents. “I want it fast, and I want it now” is the millennial mantra when it comes …

Consumer Agency May Clamp Down on Payday Lenders

The Consumer Financial Protection Bureau (CFPB) is proposing new rules to restrict high-cost payday and car-title loans that often leave borrowers in worse financial shape. The agency can’t do anything about the interest rates charged — that’s up to the states — although it does have the authority to regulate the lenders making these loans. “Too many short-term and longer-term loans are made based on the lender’s ability to collect and not on a borrower’s ability to repay,” CFPB Director Richard Cordray …

Time to Have That Talk With Your Children About Money

Whether your children are 14 or 40, if you are at or near retirement age you must have a conversation about money. The conversation should be age-appropriate, and designed not to frighten, but to inform. Still, 13-year-olds need to know how much college you can afford for them, and 30-year-olds should have a sense of how much money you will have to support yourself when you will retire and what kind of help you may need from them. Lots of …