🌮 Finance News: March 12, 2024

5 Things You Need To Know Today

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Happy Tuesday!🖐🏽

Let's face it, folks, when it comes to money, most of us are living in the Hunger Games. We spend way too much time hunting for the next gold coin (or twenty-dollar bill) to survive another month.

In this situation, find the nearest taco shop and say to yourself, “Well, it’s Taco Tuesday. Let me eat some tacos and worry about money tomorrow.”

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🌮 Hot off the Press

These 5 things happened while you were busy…

1. Nearly Half of Parents Still Financially Support Adult Children: How Much Are They Spending?

The article discusses the financial struggles faced by young adults compared to previous generations. The high costs of living coupled with lower wages and high student loans put a strain on their independence. To help with these challenges, almost half of parents with adult children provide them with financial support, averaging $1,384 per month. Read more here.

2. This Kindergarten Teacher's Creative Way of Teaching Money Makes Learning Fun

A kindergarten teacher's method of teaching her students about money through a singalong has gone viral on social media. Her recent song "If I had a penny" helps young children learn the value of coins. This method was well-received on social media with praise for her engaging teaching style. Read more here.

3. How to DOMINATE Your No-Spend Challenge

The author discusses a no-spend challenge as a way to save money in the face of rising living costs. It emphasizes cutting out unnecessary spending while allowing essential expenses. Setting a specific and achievable goal, like saving for a vacation, can provide motivation. Read more here.

4. Buy Now, Pay Later: From Niche Trend to Everyday Essential for Young Shoppers

There’s a growing trend among young adults (35 and under) of using "buy now, pay later" (BNPL) services for everyday purchases, including groceries and essential items. This age group is more likely to use BNPL compared to traditional credit cards. Read more here.

5. Rethinking Retirement and What It Means for You

Retirement is changing due to people living longer. Unlike previous generations, retirement might not be a complete stop from work. People might need to work part-time, be more aggressive with saving and investments, and focus on staying healthy to extend their retirement funds. Financial advisors are also noticing a shift in how people approach retirement planning. Read more here.

👀 Level Up

Read: No one wants extra IRS attention. Here are the mistakes that experts recommend avoiding.

Watch: Learn how to have a better relationship with your money without compromising happiness along the way. Here’s what financial experts won’t tell you about money.

Take Action: Here are 11 actionable steps to achieve financial freedom. What you need is discipline, patience, and the will to commit.

🧠 Adulting: It's Not Always Easy

My boyfriend is happy to spend my money but complains about spending his own. Her boyfriend is taking advantage of her financially. What should she do in this situation?

Give Your Bank Account a Break. I’m a Money Coach and These Are My Top Tips to Curb Overspending. It highlights the importance of recognizing personal spending triggers, such as shopping while hungry or stressed. It also advises being wary of influencer culture, recognizing that their recommendations might be biased and not necessarily aligned with your financial needs.

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