Issues Facing Parents

• Talking to Young Children About Money - It is never too early or too late to help your child learn about finances. Good habits can be learned at any age and the more informed your children are about money, the more likely they are to be financially responsible adults.
• College Funding Options - The 2001 Tax Law made several changes in ways to save for college costs. The changes were all good. If funding a college education for a child, or grandchild, is in your future, you should be aware of these changes.
• Custodial Accounts for Children - Transferring funds to children with UGMA or UTMA accounts serves many purposes. Children can learn about finances and there may be some tax advantages. However, ultimately the children take control of the assets.
• Dealing with College Costs - The costs of college have risen considerably in the past and are expected to continue to rise. Understanding some of the ways to save for those costs can make meeting those costs less problematic.
• Mistake to Avoid - Delaying Saving for a College Education - Starting early to save for a child's college education makes the process easier. College costs are continuing to rise faster than the general inflation rate. That's why taking steps now can enable your child to attend the college of choice.
• Guidelines for First Time Credit Card Users - If you or someone in your family is just beginning to use a credit card, there are several things you, or they, should know. Be sure you, or your child, become a responsible credit card user.
• Mistake to Avoid - Using the Right Investment Strategy for a Child's College Education Funds - Learn how a changing mix of equity and fixed income investments can help you take advantage of the historical higher returns of equities and have the funds available for college costs.
• The Kiddie Tax or How Children Are Taxed - Children are taxpayers just like adults, almost. This article explains how the IRS provides some tax breaks for children and how they prevent some parents from reducing the overall level of family tax.