fbpx

Teaching Teens The Financial Value Of Safer Driving

Teens are natural risk takers and believe they will live forever – a nasty combination when they start learning to drive. They will also start to forget all the valuable lessons you have taught them about finances in the past  – temporarily, at least.

The result is a headstrong child driving in a lethal weapon, who knows that mom or pop will bail them out if they have a crash. And a young adult who doesn’t care about the fact you are worried about their safety.

So, how can concerned parents teach their kids about the value of driving safely – at all times? As I mentioned above, their innate confidence means they will think you are overly concerned. After all, they can drive perfectly well – the license they have in their wallet or clutch proves it, right?

Teaching teens the financial value of safer driving - teen driver image

credit

Forget about safety

First and foremost, forget about your safety concerns. Try and think back to when you were a teen. How many times did you listen to your parents when you went out for a night? What did you do when they told you to be careful or watch how much you drank? Or, when they asked you to make sure you drove slowly? It will go through one ear and straight out the other. You need a different tactic, and one that they know will impact them – money.

Talk about insurance

It’s OK to pay for your kid’s first car, and all the costs that go with it. But one tactic that might work for you is to make sure that your teen is aware they will foot the bill for any insurance increases. Now, as an adult with years of experience of driving a car, you might not remember how costly that can be. Teen auto insurance is extortionate enough as it is, but it skyrockets even further if they are involved in a crash. And a quick search online for an auto insurance comparison service will show them exactly what that will mean. They could be facing extra payments of over $100 or more every month.

teaching teens the financial value of safer driving - drive and text image

credit

Talk about the impact of an accident

While your teen will care little for their own safety, they will care if it impacts on your family. So, let them know how much it will cost to hire a personal injury attorney in the event they have a crash. Point out that you might have to say goodbye to your family vacation, as you will need to take time off work to look after them in their hour of need. It’s even worth showing them precisely how much it costs to treat an accident at a hospital, including the ambulance fees, charges for X-rays and scans, and the price for staying overnight in bed. Even a teen from a wealthy background will wince at those figures!

Conclusion

Teens don’t go out with the express intent of causing trouble on the roads; it’s just the way their brains are wired. And their wild nature means no harm to anyone else; it’s just that they think they are superhuman. But with a little education in the right areas, you will be able to – hopefully – encourage your child to learn the financial implications of having a crash in a car.

What Are Really The Best Sources Of Financial Help?

No matter what your situation in life, there are always going to be times when money is a bit tight. The majority of people worry about money from time to time, and the truth is that plenty of people need help occasionally. Why such a situation might come around is another matter altogether. It can be the result of ongoing debt, or it could be a case of just not earning enough. And then there are unforeseen incidents, such as falling ill and not being able to work as a result. All of these circumstances are unfortunate enough in themselves, but not feeling as though there is a decent solution is even worse. However, it’s not true – there is always help to be had, even if it is not all made equal. In this post, we are going to take a look at a few of the main sources of financial help. How do they compare with one another? And which is the best of all for most people? Let’s take a look and try to answer these questions.

Best Sources Of Financial Help - growing money image

Source

Benefits

You might be surprised at how many people can get some kind of benefits. There are all sorts of situations which warrant benefit being given, and you never know – you might be eligible. However, it can be tricky knowing whether or not you are, and there are so many out there that it’s hard to know where to begin. A good idea is to take a look at your local government’s website – chances are, they will have plenty of information on what benefits are available and whether or not you can apply for them. Although many people don’t like the idea of using benefits, the fact is that they are there for a reason. If you feel that you need them, and that you are eligible, then you might as well claim them.

Loans

Borrowing is often a good option when you are in financial trouble, as it gives you a way out and offers some time to repay. There are a huge number of different kinds of loans out there, and one of your main concerns will be with choosing one that is right for you and your situation. To that end, always make sure that you are checking loans carefully before taking them out. You want to check how much you are likely to repay, as well as what the time period is for repayment and for payment to you. Fortunately, finding a loan fast is now easier than ever. If you are stuck, this just might be your best option until payday.

Grants

Similarly to benefits, there are a huge number of grants out there – and many of them are non-repayable options, meaning that you don’t have to worry about repayment. Again, as with benefits, there are many situations which warrant grants, and it is worth looking into what those situations are to see if you are eligible for one. If you do turn out to be eligible, this could really make a world of difference.

Go Minimal: Two Easy Ways To Simplify Your Life And Save Money

 

Go minimal - declutter your life and save money image

https://www.pexels.com/photo/minimal-desk-minimalist-room-24324/

There’s a lifestyle trend that’s become more and more popular over the last few years: minimalist living. The basic idea of minimalist living is to get rid of all of the clutter and junk from your life that you don’t need and just keep the things that are necessary. This obviously applies to your personal possessions, but one of the key parts of a minimalist lifestyle is that it should apply to every aspect of your life. For a lot of people, living like this is something that they’d definitely like to do but don’t know if they would actually be able to. After all, a lot of us are pretty attached to our current standards of living and, even if we wanted to, breaking away from that can be tough. Fortunately, it doesn’t really take much to embrace minimalism. Here are just a couple of ways that you can simplify your life and even save some money while doing it.

De-clutter

One of the best ways to get yourself into a minimalist mindset is to try to clear out all of the junk from your home that you simply don’t need. Think about your day to day life and ask yourself what you really use and what it is just taking up space. Be completely and brutally honest with yourself. Don’t let sentimentality get in the way. Only keep what you use and what it genuinely important to you. You’ll find that not only is it easier to keep your home tidy and organized but the same goes for your mind. One of the central elements of minimalist living is that the sheer volume of stuff in our lives prevents us from really being able to think clearly. It might sound odd but clearing out the clutter really does help you declutter your brain. Plus if you sell the stuff that you’re getting rid of then it’s a great way to make some extra cash.

Downsize

Do you really use all the space in your home? It might seem like an obvious question but, if you really think about it, a lot of people would realize that they don’t. In all likelihood, your life is actually spent in a few particular rooms and the others are just wasted space that you have to heat and clean without ever really using. If that’s the case then why not consider downsizing to somewhere smaller. You might not have the same level of space, but at least you’d use all of the space that you had. Some companies will pay cash for houses so that you can find somewhere new as quickly as possible without worrying about getting caught up in a chain. The other benefit of this is that a smaller property will often cost you significantly less than a larger one, which means that you’re not only using your space better but you’re doing the same for your finances.

The Ultimate Guide To Overcoming Financial Difficulties

Financial challenges will affect everyone at some point, and will come in a variety of forms and levels of intensity. When life pulls the rug from under us, it can be pretty easy for all that stress and worry to become a serious weight on your mind. While financial problems certainly aren’t pleasant, the good news is that there’s almost always a way to work around them! Whatever kind of financial issues you’re facing, and no matter how hopeless the situation seems, the following guide is for you. Here, we’ll take a closer look at the roots of financial difficulty, and the best ways to better your situation.

Identify Underlying Problems

financial difficulties - calculate your debt image

From Wikimedia

The first step to overcoming the financial issues you’re facing, just like any kind of problem, is to identify the underlying problem that’s at the root of it all. Financial issues are almost always the product of some larger problem, and it’s important to understand them in order to find solutions that work in the long run. Unemployment or a notably low income leads to the use of credit for basic living expenses, for example. Having a child, although one of the best experiences you can ever have, is also a common cause for sudden financial difficulty. Addictions, whether it be to alcohol, a recreational drug, or even things like gambling and video games, can also be a severe drain on a household’s income. Unexpected deaths are also a common cause for financial difficulties, not only due to an abrupt loss of income, but also having to pay for services like Teck Hin Undertaker. The root of your difficulties may not fit into any of these categories, and there’s a fair chance that it’s much more complex than the problems I’ve just mentioned. Regardless of this, identifying the source of the issue is an integral first step towards financial stability. Fix a leaking faucet, and the dripping will stop!

Spend in a Good Way

Having pinned down the root of your problem, your next step should be starting to use one of the most effective weapons out there against any financial issue – a good budget. If you’ve been taking expenses as they come so far, then creating a budget for yourself could be likened to turning a light on when you’ve been walking around in the dark. With a monthly spending plan in place, you’ll know exactly where all of your money is going, and find it so much easier to make sure you’re spending on the things that matter to you most. That is, if you create your budget in the right way. The expenses you list and take the time to manage can’t simply be guesses. They need to be a solid, accurate reflection of the reality you’re living with. The best way to ensure this is to track your expenses for a couple of weeks – or even better a month – to try and get an objective view of the kind of money you’re spending and where it’s all going. You may think you know where your money is going. However, when a lot of people finally take the time to look back on a month and tally up all of their purchases, a lot of them are absolutely shocked to discover that their spending doesn’t quite match up with what they thought their priorities were! After you’ve spent that period of tracking your personal cash flow, it will become so much easier to go over your budget more critically, and search for areas where you can save money practically. You’ll have to ask yourself some fairly tough questions; do I need to eat out that much in a month? Can I bear not seeing this or that friend for a while longer? Do I need to join everyone for that Friday after-work drink? Don’t think of it as taking on more financial burdens. Instead, remind yourself that it’s a part of being able to afford what really matters.

Set Out Your Priorities

fniancial difficuties - change your priorities image

From Flickr

In order to overcome the financial issues weighing you down, and ensure that they don’t come back to bite you in the future, it’s important to determine what your personal financial priorities are. Many of these might be obvious financial priorities, such as paying off the balance on your credit cards. Others might be a little more lifestyle-orientated, such as being able to pay for a big home improvement project and giving you and your family a better quality of life. When you have clear, non-negotiable priorities, it will make all those tough financial decisions you’ve been facing so much easier. The next time you hit a conflict of spending choices, all you have to do is think about your priorities, and use them as a guide for your decision. If you’re stuck for a first priority, just try to focus on getting a single, specific problem under wraps! For instance, shave down one of your most pressing expenses and pay off your lowest credit card balance.

Take Little Steps

No matter what the nature of your financial problems are, the solution is going to involve reducing expenses and increasing income in various ways. Once you’ve done the maths, you might discover that in order to get yourself on track again, you’re going to have to make some pretty big changes to your usual lifestyle. This may not be something you want to do especially, and believe me you’re not alone! However, this issue comes down to a choice between gritting your teeth through ongoing financial issues, or making various small changes to ultimately relieve yourself from financial stress. I can guess which one you’d rather pick! Big changes are always much harder to motivate yourself towards and to make happen, so try to identify the smaller steps you can take in order to bring yourself closer. Let’s say that you’re finding it hard to make ends meet because you’re an average of £50 short of something every month. In this scenario, a good small step to consider could be paying off a lower credit card balance that requires you to make a £50 minimum payment every month. Look for little areas where you can reduce your spending, get that credit card paid off, and then you’ll permanently have an extra £50 to throw around every month.

Develop a Plan to Get Rid of Your Problems Permanently

financial difficulties - change your plan image

From Pixabay

Having identified some of the smaller steps you can take towards greater financial stability, your next step should be formulating a realistic plan for achieving those big, overarching goals you want to accomplish. Determine what these are as I mentioned before, then write them down, along with where you currently are in relation to those goals. This, along with your regular budget, will help you to figure out some regular, smaller payments that will be much more manageable than trying to get yourself in a position to make one big purchase. This is often where many people can slip up. The trick here is to get the perfect balance. Don’t make your regular payment routine so easy that it becomes easy to brush it off or let it slide. Similarly, you shouldn’t be making it so ambitious that it’s near impossible for you to keep on top of!

Review and Tweak

Like many things, digging yourself out of financial trouble isn’t always as easy as creating a plan and then deciding to stick to it. Certain details can slip through the net, and various unexpected complications can spring up which makes sticking to your plan much more difficult. Due to this, it’s important that you take the time to review how your plan is turning out, identify any problems, and then tweak things so that they’re that much better. Have your finances shown improvement? Are you making the kind of progress towards your goals that you forecasted? If not, you’ll need to have a look back through your accounts and pin down where things went wrong, and why. Like a new year’s resolution, you might find that your old, expensive habits were easy enough to avoid at the start, but soon enough things started to get hard. It’s integral to make sure the plan you’ve set out is realistic, or you’re just going to end up straining yourself too much, and making it easier to give up and regress into bad spending habits. If you’re finding yourself struggling again and again, then you may need to reach out for outside help. There are now various government initiatives, such as National Debt Solutions, which give free assistance to people who are overwhelmed by their financial difficulties. Other times, the solution can be as simple as talking to a friend who’s better with money than you, and sharing information about your financial situation with them.

Things may look pretty bleak right now, but following this guide could set you off on the road to a much more stable financial future. Remember to always think in the long term, and don’t be too proud to seek the help you need!

This Matters: The Link Between Money and Green Living

There are lots of ways to live a more financially responsible life. Some of them relate to other lifestyle changes that can benefit you in other ways. Choosing to live a greener life can be one of the best choices you make if you want to revamp your finances. If you can be more responsible to help the environment, you could also find yourself with more money to spend or save. Explore the link between green living and your finances below for both yourself and your children.

 

Wastefulness and Sustainability

One of the worst ways to waste money on a daily basis is by being wasteful. Not only is it a drain on your finances, but it’s also bad for the environment. You can save money by being thriftier and more sustainable.

Recycling and Reusing

If you want to live a more sustainable lifestyle, making the most of everything you buy will help you. You can save money by reusing something instead of throwing it away when it has fulfilled its primary use.

Reduced Reliance on Expensive Resources

Living a greener lifestyle can mean you reduce the amount you spend on some expensive things. These include fuel for your vehicle, which you can buy less of by using public transport or switching your car for a more efficient one.

Green Energy

Using green energy supplies can help you reduce your monthly spending by a significant amount. Switching to solar-generated energy or something similar could be the right choice for you if you want to make financially and environmentally sound decisions.

 


Infographic Produced By Semper Solaris