Smart Money

"Higher incomes often come with higher expectations – a nice house, a new car, myriad social events. And if you’re hanging with a crowd that’s significantly above your social status, you may always feel like the poor cousin. Or you may be “driven” to spend money you should be saving. That’s one reason why people making solid incomes often default to using credit to keep up with what they think they should be able to afford. You know the old saying, “It’s not how much you make, it’s how much you keep.”" - Shevonne from Bookmarklet

"The estimated $1 trillion in student loan debt affects individuals from all walks of life. However, according to two studies, women and minorities are two groups experiencing some of the greatest repercussions of student debt. So, how deep is the disparate impact on these groups, why does it exist and what can be done? The existing gender pay gap is a significant challenge for college-educated women. A recent report published by the American Association of University Women, "Graduating to a Pay Gap," examines women and men recently out of college." - Shevonne from Bookmarklet

"As the real estate market significantly rebounds, some buyers and sellers are dipping their toes in the waters for the first time. Inevitably, they come into the market with assumptions about how it works. Their assumptions may come from TV reality shows or watching their parents’ house-hunting experiences. Maybe they’ve learned about real estate from a co-worker’s recent home buying or selling experience. The trouble is, the new buyer or seller’s assumptions are sometimes based on outdated or generalized “real estate myths.” Here are three such myths that many less-seasoned home buyers and sellers assume are true." - Shevonne from Bookmarklet

"To commemorate Financial Literacy month, Yahoo! Finance is proud to bring you a Q&A about financial education for kids with famed investor Warren Buffett. One of the world's richest men, Buffett is also the voice of a new animated series entitled "Secret Millionaires Club," which offers kids tips on investing and basic business concepts. "The more you learn, the more you’ll earn,” Buffett says in the series, which also features the voices of Jay-Z and Shaquille O’Neal. The first DVD of the series was recently released and is available for purchase on Amazon.com. More information can be found at www.smckids.com." - Shevonne from Bookmarklet

"Debt can often seem unconquerable. Whether you’re facing down student loans or a mountain of credit card bills, it can seem like you’ll never be able to pay off all of it–or even make a serious dent." - Shevonne from Bookmarklet

"I’ve made a lot of money mistakes over the years. One of my biggest regrets was getting in over my head as a first time home buyer. It was 2003 and, although the real estate market had been stagnant for years, the Alberta housing boom was about to begin." - Shevonne from Bookmarklet

"At age 30, you are assumed to be moving forward with life. You're firmly in the adult world, but you might still be making the mistakes of post-adolescence. Chances are that you're looking around at age 30, and wondering why you aren't in a better position. If you are 30, or about to turn 30, consider that you probably don't have enough of the following" - Shevonne from Bookmarklet

You could substitute nearly any big age number for 30. Not that I would have listened but I don't recall seeing this advice at 20, much less 30. - c.a.j.

"With the plethora of tax preparation software available, many people file their own tax return each year. But even with the software questions and guidance, many deductions are commonly overlooked, so much so that H&R Block offers a free “Second Look” for any new clients’ past year’s tax return to check for anything missed." - Shevonne from Bookmarklet

"It’s true, Wise Bread reader — you’re a revolutionary. Although you may not know it or feel like it every day, your money-saving ways and consumer consciousness put you in the distinguished company of rebels and renegades. At a time when our society is awash in chronic debt, you’re swimming against the tide of easy consumer credit, bucking the trend of living beyond your means, and breaking the cycle of perpetual wanting. Congratulations" - Shevonne from Bookmarklet

"So how do you know if you’re living above your means — in other words, spending more than you’re bringing in? Not being able to cover the bare necessities is an obvious red flag. But there are some other tell-tale signs you’re in over your head." - Shevonne from Bookmarklet

"It’s all well and good to pull up your financial bootstraps to save some cash, but all work and no play makes for a doubly dull lifestyle. Here are a handful of ways to tighten your budget and still be able to have a bit of fun." - Shevonne from Bookmarklet

"Your bank account will likely take a bit of a hit over the holidays, but you can balance out what’s going out by bringing more in if you commit to making money during your time off. To light your financial yuletide fire, here are a few ideas on how to pad your pockets over the holiday break. (See also: 9 Ways to Earn Extra Cash When Money Is Tight)" - Shevonne from Bookmarklet

"That is why my wife and I decided to perpetuate the cultural myth of Santa Claus with our kids—because their little hearts and minds seem to yearn for mystery and fantasy, and because we both seemed to gain more than we suffered from that well-meaning parental deception. But one area in which mystery and fantasy would serve our children poorly is the arena of money." - Shevonne from Bookmarklet

"Here are seven things I learned about money after I became a mom. If you’re a mother, you may know what I mean. If not, well, here’s what you have to look forward to:" - Shevonne from Bookmarklet

Fatherhood too, obviously... That article's pretty right on. - Brian Johns

Mostly true, but I disagree with #2. I think my kids are slow growers (and are probably in the minority there). We were just noticing yesterday that both kids are wearing the same pajamas now that they were wearing at this time last year. They wear out clothes way before they grow out of them. - Rochelle

"Are you ready? First, you need to know that you’re smarter than they are. All the sales, the clever pricing, the guilt-trip inducing holiday ads, can’t turn you stupid. You are a smart consumer –that’s why you read this site and specifically, my consumer posts. But it’s not universally true. The National Retail Federation said consumers went nuts during Thanksgiving weekend, breaking every sales record. Total spending over the four-day weekend reportedly came to $59.1 billion, up 12.8 percent from 2011." - Shevonne from Bookmarklet

"In the name of not buying more needless junk, especially when being bombarded by the frenzy of holiday shopping madness, here’s a tip: If you smell orange, don’t inhale. Walk away from the citrusy aroma, if you must shop, find a store without fragrance. Scent sells. Scientists, marketing departments and retailers have known for decades that particular aromas – think pine at Christmas and cookies baking at a real estate open house – can nudge shoppers into spending more. So-called scent marketing is an invasive sales tactic, it’s subtler than visual and audio approaches, and is duly effective. (And just kind of creepy if you don’t like people tinkering with your subconscious.)" - Shevonne from Bookmarklet

"We’ve all been there — broke as a joke with nary a loose coin under the couch cushions. Whether it’s self-imposed or just money mismanagement, it sucks, but it’s not the end of the world. So if you find yourself in such a situation, don’t panic. You’ll get through it with these been-there-done-that tips from yours truly. (See also: Emergency Belt-Tightening)" - Shevonne from Bookmarklet

"According to a nationwide survey conducted by LearnVest and Chase Blueprint, Americans’ number one financial worry is whether or not we’ll be able to save enough for retirement. About one-third of men and women cite that as their top concern over, for instance, paying down debt, having enough money to live comfortably and having enough to provide for their children." - Shevonne from Bookmarklet

"The point of a spending cleanse is to break up the accepted behavior of spending money every single day. If you take some time away from doing that, you might be surprised at just how little you need to spend. Then, when the cleanse is over, you can focus on ways to cut down on frivolous purchases." - Shevonne from Bookmarklet

"A number of you have written in to ask about how to help your children be happy with a lower-key, fewer-presents sort of Christmas, so that’s what we’ll talk about today. I’m not sure when our current level of gift-giving came to be the norm, but throughout history, children have managed to happily celebrate Christmas with a whole lot less in the way of presents." - Shevonne from Bookmarklet

"has an investor crisis that needs attention. The financial literacy of Americans is at a dangerously low level, at a time when more people have become responsible for their own retirement savings and as the future of government subsistence programs have fallen into question." - Shevonne from Bookmarklet

"Every year we worry about finding the perfect Christmas gifts for the people on our list and every year many of us end up straining our budgets. It doesn’t have to be that way. Here are 11 ways to save money on holiday shopping." - Shevonne from Bookmarklet

"For those that have never bought a house or haven’t bought one in a long time, here are the nine biggest steps that I’ve encountered in buying my first home. The following steps assume you will be taking out a mortgage to buy your house (cash buyers would skip a lot of steps and probably know enough that they don’t need a list like this anyway)." - Shevonne from Bookmarklet

"By the way, if you want to make your voice heard on pet medications, email your views and concerns to the FTC by Nov. 1. You just might help yourself, and other pet owners, save a few bucks." - Shevonne from Bookmarklet

"Many low-income parents could see their tax bills jump by thousands of dollars next year if nothing is done to stop a series of tax breaks from expiring January 1. Unless Congress takes action before the end of the year, four important credits for families -- The Child Tax Credit, Earned Income Tax Credit, Child and Dependent Care Credit and the American Opportunity Credit -- will revert back to previous levels. If this happens, many families will be worse off by hundreds -- or even thousands -- of dollars, said Roberton Williams, a senior fellow at the Tax Policy Center. "If you have what it takes to qualify for these particular benefits, you will get hit," said Williams." - Shevonne from Bookmarklet

"According to a recent survey by RetailMeNot (the largest online coupon site in the U.S.) on the cost of student athletics, parents of children in grades 6-12 spend an average of $671 per year on sports related costs, with 21% of parents spending more than $1,000 per child. “We found that while parents believe that some sports are certainly more costly than others, parents should expect to spend, on average, nearly $700 per child-athlete during the school year,” explained Trae Bodge, senior editor at RetailMeNot. The study revealed that 27% of parents said that football was the most expensive sport, followed by baseball/softball (12%) and hockey (11%)." - Shevonne from Bookmarklet

because it's embarrassing - NoahDavidSimon