Free Debt Relief Analysis

It's Simple To Start

Gather Basic Information

Answer a couple of basic questions about your debt. Based on your location, debt amount and type of debt, we can recommend a path.

Financial Coaches

Your certified debt resolution specialist will show you how to pay off your debt and give you the motivation to get there.

Debt Free

Follow the payment plan you agree to with your certified specialist and you are on the way to being debt free in less time and for less money than if you did it on your own.

Questions? Call IMG 888-997-5113

Kids and Money: Teaching Money to Children

Money is always a tricky subject, especially when it comes to talking about it with your family-let alone trying to borrow money from a family member-so it\'s definitely challenging when you\'re trying to discus fiscal matters with your kids. What do they need to know? How do you make them understand when money is tight? When should they have some responsibility when it comes to money? Read our advice below.

Teaching Money to Children - Responsibility Through the Years

It\'s always a good idea to teach kids about being responsible when it comes to money. This is a completely different ballgame than just showing teaching them about money in an abstract way. Showing your children the ropes about money management at an early age will help prepare them to become responsible adults down the way, but you can\'t just throw them into the ocean without giving them the tools to swim.

Start them off small with a weekly or monthly allowance, and make them earn it. When they\'re very little, this can be a small sum of money in return for doing the dishes or taking out the trash. This will teach them that money is a privilege they have to earn-not a birthright.

Next, instill good saving skills in them. Give them a piggy bank and help them learn how to save for things they really want, rather than blowing their hard-earned dough on frivolous items.

If they\'re saving up for something major, you can certainly help them out by offering them a matching donation. This helps them learn how to set a goal and stick with it.

When they\'re older and have a big-kid job, help them open up their first bank account-or set them up as an addition on yours. Make sure they know all about debit cards and how to balance their check books. Helping them open a savings account for college will also help them down the road. Make sure to check in from time-to-time to see that they\'re managing their money well.

Teach them about credit cards and the dangers of them! Make them understand the perils of gaining credit card debt but also the benefits of having good credit

Kids and Money - What Should They Know About Economic Woes?

In times of economic hardship, family talk is likely to center on money, mortgages, jobs, moving, school tuition and credit cards. Talking to your kids about money issues is tough, especially when you\'re are already  under stress and have to deal with your own anxieties, but kids have adept intuition and will probably already sense something is wrong. So, what should you tell them?

Children under 5 are concerned about themselves and need assurance in simple actions that send the message that they will be cared for. They can be content with small rewards and gifts such as stickers, rather than expensive toys.

Children aged 6-9 can understand the concept of waiting and saving to buy more expensive things. They can go through catalogs and can make wish lists of what they want for birthdays and holidays. Teach them about comparison shopping at the grocery store.

Children aged 10-12 can understand that the family has to cut back. They understand everyday effects of having to economize and can contribute ideas to budget planning.

Teenagers may feel pressured to keep up with the latest trends but can understand the need to prioritize when there\'s a limited amount of money. Teenagers are capable of understanding the ramifications of the economic crisis, can discuss issues in detail, understand more subtle effects of having less money and be active in problem solving.

Make sure to have a family meeting and discuss what cutbacks will need to be made but reassure your family that you\'re still going to have fun together and aren\'t punishing them.


Benefits of Debt Consolidation