This week: teaching kids about money, how retailers are tracking you, your biggest financial regrets, what women want and deciding whether cash is trash.
[Credit.com] “It is crucial that your child has an idea of personal finance at a young age. You want them to grow up knowing how to pay their bills and understanding what it means to be in debt. Here are five ways you can teach your child about personal finance that can also be fun and memorable.”
This is a topic we’ve covered a lot, but more knowledge is always welcome. This author suggests you teach your kids about money by taking them shopping, having them organize your receipts, helping them set goals, rewarding them for work and simply talking to them about money. See the post for details.
[The Dollar Stretcher] “When a retailer sends you coupons for shoes just as you are thinking about going to the store to order them, you must have told them about your plans without realizing it. Retailers have developed several methods to track and understand your shopping habits. Here are seven ways retailers can track you and predict your shopping habits.”
So, how do they know what you’re looking for before you do? Store loyalty cards, your phone number, store Wi-Fi, your smartphone, cameras and social media. How do all these things combine to give your shopping habits away? See the article to find out.
[Money] “When you ask Americans about their financial successes and regrets, it turns out there are some common threads between the two.”
What would you say was your best money-related decision and your worst? If you answered “a college education,” you might be surprised to learn that in a recent survey, that answer was given to describe both “best” and “worst” decisions. Turns out some of us think going to college was a waste of time, while others think it was smart. Read the post for more.
[Debt.com] “What qualities are attractive in a potential mate? Looks, maybe at first. Charm, respect and sense of humor may be some others. And then there’s how they handle money.”
Like the previous article, this one also uses a survey, but this one is about how men and women differ when it comes to money. For example, millennial women are much more likely to want to save for a vacation than men, and men are more likely to want to invest in stocks than women. And, as the headline suggests, women are more interested in emergency savings than men.
[Wise Bread] “You probably know people who have already quit using cash. I do. They pay their bills electronically, and pay for items purchased at stores with debit cards (or prepaid cards, or credit cards, or any number of alternatives like Apple Pay or Google Wallet).”
This story, which reviews the ideas in a book called “The Curse of Cash,” looks at why we might be better off eliminating paper money entirely. It suggests currency is a source of potential problems in modern society, for at least two reasons: It facilitates corruption and it hamstrings central banks when they want to manipulate interest rates. It’s an interesting argument.
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