Money Management Articles

Kids & Money

MNCPA issues list of strange and unusual tax deductions - 2/17/2014
The Minnesota Society of Certified Public Accountants (MNCPA) recently conducted its annual CPA member survey about the most strange and unusual tax deductions proposed by clients. Responses included everything from pets and wedding rings to gifts not given.

Five smart financial tips for young people - 10/3/2013
A whopping 70 percent of college students will graduate with student loan debt, which averages about $25,200, according to a recent Fidelity Investments survey.

College budgeting 101: How to make sure spending money lasts through the school year - 8/18/2013
College students are heading back to campus, their bank accounts replenished with summer job money and possibly student loan funds. Will it be enough to last all year? There are ways to improve the odds.

Don't be swamped by student loan debt! - 7/31/2013
As students prepare to head back to the books, college planning is on the minds of many families.

The rising cost of day care: Manage your costs, maximize your deductions - 7/1/2013
The cost of child care in the U.S. has climbed dramatically during the past three decades. Unfortunately, wages aren't keeping pace with the skyrocketing increases, and working parents are struggling to keep up.

Planning a budget-friendly vacation: Summer fun without breaking the bank - 7/1/2013

Vacations create fun, lasting memories for families, but they can also be a significant expenditure. Plan ahead, shop around and budget carefully, and you'll be ready to relax and enjoy your trip.

Tax tips for newlyweds - 6/16/2013
June is traditionally a time when couples tie the knot and, as is the case with so many major milestones in life, all newlyweds should be aware of the tax considerations associated with marriage. If you or a loved one is planning nuptials, the Minnesota Society of CPAs offers this advice on addressing the tax concerns.

Using an allowance to teach financial lessons - 6/16/2013
On average, children spend about six hours a week on household duties. No matter what the rules are in their house, the Minnesota Society of CPAs advises parents that there are steps they can take to ensure that their kids are learning some financial lessons when they get their allowance.

Giving the gift of financial planning: A lifetime of financial knowledge wrapped up with a bow - 6/2/2013
June means longer days, the start of summer and invitations to weddings, graduation parties and maybe a baby shower or two. Stuck for ideas on what to give the newlyweds, graduates or new parents? This year, consider something nontraditional that will last a lifetime and never go out of style: a visit with a financial planner.

Retaining personal financial records: What do you need to keep and for how long? - 5/14/2013
Does looking at overflowing filing cabinets of bank statements and boxes of old check stubs make you want to start a bonfire in your backyard? Before you grab the lighter fluid and matches, make sure you know what you can torch and what you need to keep.

Five tips for living peacefully with 'boomerang kids' - 4/30/2013
Due to the recent recession and continuing economic weakness, more and more adult children are still living with their parents or have moved back in with them.

Six ways to teach kids about sensible spending - 11/1/2012
Even young children are able to understand what it means to build — or save — toward a goal, such as a toy or trip to an amusement park. Parents can help by encouraging their children to set aside money they receive for birthdays or holidays to save up for a special purchase. Older children can save money earned from afterschool or weekend jobs, and parents can give younger kids small jobs to help them earn money.

Have you had the (financial) talk with your kids? Back-to-school is a great time to reinforce smart money habits - 9/1/2012
It’s back-to-school time. This year, the Minnesota Society of CPAs (MNCPA) suggests you start a new back-to-school tradition. Take the opportunity to talk to your kids about important financial matters and embrace this teachable moment before you hand your kids back over to the teachers for the next nine months.  

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