Taking Baby Steps to Eliminate Your Debt
June 27, 2016
Categories: Financial Education, Personal Finance
As of 2015, the average American with credit card debt owes $15,762 – and that’s just credit. Auto loans, student loans, and mortgages add thousands of dollars and years of repayment to your personal finances. However, debt doesn’t have to be a life sentence. Once you have made the commitment to work towards financial freedom, follow these steps from Peoples Trust & Savings Bank to begin eliminating those personal debts.
Establish an emergency fund immediately....How to Give Your Children a Financial Education through Their Allowance
June 13, 2016
Categories: Budgeting, Financial Education
Allowance when treated as an educational opportunity, gives your child hands-on experience in budgeting, saving, spending, investing, earning, negotiating, and tracking their money. With these tactics, you and your child can make the most of their allowance while growing their financial literacy.
Shy away from weekly allowance. A bi-weekly or monthly allowance better reflects a real-world payment schedule than a weekly handout. Additionally, staggered money instead of...