Posts Tagged ‘children’

Teaching your kids how to handle money. This week on Your Financial Editor.

Thursday, November 15th, 2012

Money can’t buy your children happiness.  But giving them the skills to manage their money will allow them to take control of their future and work toward successful and satisfying lives.  Find out how to do this – tune in this week to hear my guest, Mary Hunt, author of Raising Financially Confident Kids, and she’ll tell us how to “debt-proof” our kids.

Listen from anywhere by logging onto WFMD and clicking the listen live button – Saturday morning at 8:00 on AM 930 WFMD.

About this week’s guest:

Mary Hunt, award winning and bestselling author, syndicated columnist and sought-after motivational speaker, has created a global platform that is making strides to help men and women battle the epidemic impact of consumer debt. Mary is the founder of Debt-Proof Living, a highly regarded organization consisting of an interactive website, a monthly newsletter, a daily syndicated column and hundreds of thousands of loyal followers. Now in its twentieth year, DPL is dedicated to its mission to provide hope, help and realistic solutions for individuals who are committed to financially responsible and debt-free living.As a speaker, Mary travels extensively addressing conferences, corporations, colleges, universities and churches at home and abroad. A frequent guest on radio and television, she has appeared on dozens of television shows including “Dr. Phil,” “Good Morning America,” “The Oprah Winfrey Show” and “Dateline.”Mary lives with her husband in Orange County, California.









We are happy to again be the title sponsor for AM 930 WFMD’s annual “Christmas Cash for Kids” tradition.

Tuesday, November 29th, 2011

Please join us to support this worthy cause, and ensure that every child in Frederick has a joyous Christmas! 

Each year, WFMD works with the Salvation Army, a local Frederick bank, and many other businesses and organizations to raise money to provide Frederick children with a Christmas they would otherwise miss. Every dollar goes to directly to providing presents for the children – none of the money received is used for any overhead expenses.

Here’s what you can do at your place of business.  If you work at a retail business, put out a collection can and a poster in your storefront window.  Pass the hat in your company or come up with unique fund raisers, i.e. dress down days, funny hat days or whatever you come up with and have fun!  Call the WFMD offices at (301) 663-4181 for a poster or more information.  Click here to donate.

What the heck is estate planning?

Thursday, March 3rd, 2011

What is estate planning and who the heck wants to talk about it when they find out?  Just blogging on the subject of estate planning makes me feel a little creepy.  I mean who wants to not only talk about dying, but planning for it!  But the fact of the matter is that proper estate planning is just as important as investment planning, tax planning, insurance planning, wealth management, etc.  I mean, why bust your hump your whole life to create a decent (or beyond decent) net worth, just to have leave it in shambles for those you love to fight over.  By the way, I don’t use the term “loved ones” lightly.  Money is used by many, many people as an extension of their love.  While we are alive, we provide college educations, pay for memorable weddings for our daughters, donate to our churches or synagogues, help monetarily when disasters strike, etc.  But when we die, if estate planning is done correctly, we leave that legacy through our estate planning.  We ensure our grandchildren get the education or business support to follow and achieve their dreams and make this world a better place.  With proper estate planning, the local hospitals and clinics will have the private funds needed to enhance our communities health and safety.  So, whether you have an extremely small net worth or you are a multi-millionaire (it’s all relative – what we have is very important to each one of us), take some time to do your estate planning.  OK, enough of the Adams family atmosphere, have a good day!  For tips that make estate planning easier, go to this article on Wallet Pop, or check out these videos on our website.

Is there a particular strategy that works best when teaching kids about money?

Tuesday, January 11th, 2011

This is a question that I am often asked.  In today’s society many people are very dedicated to spending time with their children and grandchildren.  Good parents and grandparents teach these children vital things like morals, values, honesty, integrity, charity, to help others, etc.

Even better, many, if not most, lead by example so the youngsters can not only hear the words, but also see the action and results.

Money and money issues are no different.  The sooner involve children with financial responsibilities, the better chance they will have of making prudent decisions and protecting themselves.

Let’s face it; this last recession in particular had a lot to do with people getting in over their heads.  Who, in a normal state of mind, wouldn’t question not only getting a mortgage for more than they could afford, but also getting an extra $25,000, $50,000, or $100,000+ at the settlement table for walking around money?  Come on!  I guarantee anybody that lived through or around the depression era didn’t succumb to those temptations.  Why?  Because they either learned the lesson of living within their means because they didn’t have anything or they saw what was going on around them to other people in their neighborhood and across the county back then.

So, talk about money just like you would any other subject.  Start with a piggy bank and progress to an allowance, then a prepaid card (which will require restraint), then a checking account and finally a credit card or some other line of credit.

The more they learn, hopefully, the more control they’ll have over their finances as they get older.  I know I didn’t pave any new roads here, but I think the basics are all that is needed. 

Thanks for the question and have a great New Year!