Some Thoughts on Jobs for Kids

Parents should consider jobs for kids on two occasions: either your kid got a little older and an allowance is no longer able to cover all of his/her needs, or you want to teach your child the responsibility of earning their own money. Another possibility is to give some motivation for your children to open their own kids bank  accounts and get excited about increasing balances. Sometimes these reasons might even overlap.

Either way, payment will be based around a few factors, such as the place you live, how hard the job is, and the amount of time needed to complete the tasks. Here are some ideas you should think about:

Babysitting. This is a good option for teens and pre-teens. They will likely end up working near your house for your neighbors and friends. A viable alternative for younger kids is to work as a mother’s helper – it is almost the same thing, except one of the parents will stay at home during the job.

Pet Sitting. It is a similar idea, where your kid will visit a house a few times a day to feed an animal. Your child can offer to bring in the mail and the newspaper, as well as water the plants.

Lawn Mowing. A classic! The good thing about this job is that it can lead to semi-permanent deals, where your kid will work in the same gardens periodically. Ideal customers are people traveling, or simply neighbors who do not like mowing their lawn. The only detail that needs to be arranged is whether your kid will use your mowing equipment or whatever the homeowner owns. This works best during the summer.

In other seasons of the year, your child can help raking leaves, shoveling snow, feeding farm animals, or even seeding flowers and plants, all depending on the season of the year and the place where you live.

So, there you have it. I hope you liked this initial brainstorm on jobs for kids, and I hope your children get excited about the possibility of more money entering their kids savings accounts.

Where to start when you want to end debt

Had enough of working like a slave only to hand over a large part of your paycheck to the credit card companies each month? And do you want to end debt once and for all, but don’t know how to go about it and where to start? Then just keep reading and I promise to show you how to do it with specific ideas you can implement right away. And I also promise to write in plain English and avoid all the technical financial terms.

Before you do anything else, cut up your credit cards with a pair of scissors and get rid them once and for all. Studies have shown that people who use credit cards spend more money than people who pay with cash. And if you don’t have credit cards you won’t get tempted later down the road, when your determination might not be as strong as now.

When you are done making confetti out of your old credit cards it’s time to make a budget. Most people don’t have one and get scared when you mention the word, but if you can overcome that you will have a great tool to help you stay on track and provide the overview you probably don’t have right now.

And last but not least pay off as much as you can on your debt each month. When you pay the minimum you barely cover the interest and it takes forever to get out of debt. Each time you pay more than you have to your total debt will be smaller and you will save the interest in the future.

So if you get rid of your credit cards, make a budget and pay more than you have to each month you will be able to write off debt easy and get on with your life.

3 Qualifications For A Roth IRA

If you are looking for a place to save money for retirement look no further.  The Roth IRA is one of the best places to save your money for retirement, because it offers the ability to save money for retirement with after tax dollars.  By doing this you won’t have to pay taxes on any of your retirement money after the fact.

With other retirement accounts, such as a 401k or an IRA, your retirement money is tax deferred until you retire and then you will have to pay taxes on every dollar you pull out, which makes them less attractive.

However in order to get this great benefit of the Roth IRA you will have to qualify for it and in this article I’m going to cover 3 things you need to do in order to meet the Roth IRA qualifications.

  • You need to earn an income. In order to open a Roth IRA account you will need to be earning an income from some where.  It can be a job or some type of asset like a real estate investment but as long as you are earning an income you can qualify.
  • You can’t earn to much. If you earn more than $120,000 as your adjusted gross income on your tax return filing single you will not be able to put money into a Roth.  If you are filing jointly with your spouse you will only be able to earn up to $177,000 on your tax return before you will be unable to contribute.
  • You can’t contribute to much. With a Roth IRA you can only contribute as much as $5000 per calendar year.  However if you are 50 or older you can add another $1000 to that making your total contributions as much a $6000.

If you believe you might be close on the earnings limit or that you don’t earn anything at all you should contact your financial professional to look at your situation to see if you will qualify.  Following the Roth IRA advice I’ve laid out for you should keep you from facing any penalties.

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