Tag Archives: Money

Why Most High Schoolers Don’t Know How to Manage Their Money

High school students are studying up 5474825330_4470fa5928_zon calculus, advanced chemistry, and world history, but most aren’t learning fundamental money lessons to help them financially navigate the real world.

Such is the case with Jessica Pollack’s son Adam, an 18-year-old who graduated in May from Los Alamitos High School in Orange County, California. Much to Jessica’s chagrin, the school doesn’t require its students to take a personal-finance class to graduate. “It’s a top-rated school, but there is no personal-finance requirement, which is just astonishing to me,” Jessica says. “There’s a technology requirement that’s statewide. As a technology teacher, I appreciate that, but these kids are exposed to computers and technology all the time. Yet when it comes to buying the computer and financing it, they’re clueless.”

Like Jessica’s son, the majority of children will graduate from high school without being taught basic money lessons, including how to create a budget or write a check. For an article for U.S. News & World Report, I explored why only 13 states require high school students to take a personal-finance class to graduate.

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The Best Ways to Prevent Money Arguments With Your Spouse

Twenty-seven percent of Americans couple-arguingsay disagreements over finances are most likely to erupt into an argument, ahead of arguments over children, chores, work, and friends, according to a recent survey of married or cohabitating couples by the American Institute of Certified Public Accountants.

Fights with your spouse are never easy, but evidence shows that arguments over money can be particularly distressing. A 2011 study by Jeffrey Dew of Utah State University found that married couples who disagreed about money once a week were twice as likely to divorce as those who differed less than once a month. This is partly because money arguments encompass more than just finances. “Money doesn’t just represent money; it represents love, power, control, self-esteem, freedom,” says Olivia Mellan, a money coach and author of Money Harmony: Resolving Money Conflicts in Your Life and Relationships.

For a story for U.S. News & World Report, I spoke to experts for their recommendations on how to prevent arguments with your spouse over money. Click here to read their advice.

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MONEY: Investing With Friends And Family

Last year more than one in 10 entrepreneurs
borrowed from friends and family, according to the National Small Business Association. Think you’ll need to go this route? Tap your support system the right way.

For a story for MONEY magazine’s April issue, I spoke to family business consultants to uncover three strategies for “keeping up relations when your brother is the banker.” Click here to read the piece.

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Money: Choose the Best Card for Your Biz

Some 37 percent of business owners use credit to cover some of their costs, according to the National Small Business Association. But the optimal card for your operation depends on how you’ll use it. For a story for Money magazine’s March issue, I talked to credit card experts to identify strategies for both types of credit card users: Those who’ll carry a balance and those who won’t. Click here and scroll to the second page to read the piece.

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Money: How to Find the Best Name for Your Biz

The right brand can help make your business. And with some 177,700 trademarks registered last year alone, it’s harder now than ever to come with a great business name. For a story for Money magazine (see page 2), I researched several tricks to coming up with a money-making moniker. These include first figuring out what you want the name to do for you—to convey a certain emotion? to highlight your competitive advantage?—before starting the naming phase, and adding to the beginning or end of a word (as travel site Expedia or GPS system OnStar did). Read about these tips and more in the January/February issue of Money.

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Money: How to Market Your Biz on Facebook

Money magazine’s December issue just dropped, and it includes a piece I wrote on “How to Market Your Biz on Facebook.” I talked to a number of social media and small business experts for the story, gleaning advice for Money readers on how they can turn Facebook followers into customers. Click here for a pdf of the article (it’s on the second page).

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Best Jobs in America: Capsule Profiles

Money magazine’s November issue features
its annual “Best Jobs” package, and with it a section of exclusive online content. ‘I have the best job in America’ profiles 11 people lucky enough to have switched into careers that rate high in satisfaction on Money’s list. I profiled six of them, interviewing people like Brett Pangburn, who left his job as a lawyer to become a teacher at a Boston charter school, and Kimberly Resnick, who worked for years as a paralegal before making the jump to personal training. These people are passionate about their jobs, which is so important, especially in a shaky economy. Read more about why they made a career switch, how they did it, and why they love it here.

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