SavvySugar

5 Money Issues Every Couple Should Prepare For

SavvySugar — Fri, 13 Nov 2009 08:30:33 -0800

We talk about love and money quite a bit here on Savvy, and many of you have had a go-round or two with your significant other about the topic. In a new relationship, resolving money issues means adjusting to each other’s spending and saving styles, and coming up with a system you can both live with. But as relationships grow and change, financial situations do too, and many couples find themselves having to adjust their approach to money after years of marriage.

New York Times columnist Ron Lieber recently offered up a list of five issues that can cause financial bickering even in established relationships. To see them, along with my advice for how to address them, click away.

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How-To: Determine If You Can Live on One Income

SavvySugar — Thu, 22 Oct 2009 08:30:15 -0700

There are too many families who were taken by surprise when one breadwinner suddenly lost his or her job, but some couples might choose to give up an income for one reason or another. Maybe one person was offered a job in another city, leaving the other one without employment, the couple wants one parent to stay home with the kids, one half of the duo is miserable at work and wants out ASAP, etc. Before you make the choice to live on one income, you need to find out if it's a viable option by following these steps.

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Who's Better With Money: You or Your Parents?

SavvySugar — Tue, 22 Sep 2009 12:00:56 -0700

There's a new reality series debuting on Sept. 30 on SoapNet called Bank of Mom and Dad. A different twenty-something woman in debt will be featured each week, and as helpful punishment the ladies' parents move in to help her turn her finances around. While the parents on the show are better at managing money than their daughters, this isn't always the case. Who handles money better in your family?

Your Two Cents: Should Parents Charge Adult Children Rent?

SavvySugar — Mon, 03 Aug 2009 06:30:17 -0700

Layoffs have sent young working adults packing for their parents' houses, and recent grads having trouble finding work have gone back home for shelter while they job search. Many of these parents are picking up the pieces of their retirement portfolios, having to work for more years than expected, and some are even attempting to reenter the workforce themselves.

It's not an easy situation for any parties involved when an adult used to living on her own returns to her parents' turf. Do you think parents should charge their kids rent when they fly back into the nest?

Maternity Leave Around the World: How Money Are You?

SavvySugar — Sun, 10 May 2009 09:00:26 -0700

Happy Mother's Day! It's one day that all moms should have off, and not just because it's a Sunday.

One of the things to find out before having a baby is how much leave you'll be granted and how much you'll be paid for that time off. It will vary from company to company, but the differences are extreme when comparing leave policies in different countries. What do you know about maternity leave around the world? Take the quiz!

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Two Ways People Are Eating Differently During the Recession

SavvySugar — Fri, 08 May 2009 10:30:45 -0700

Severing ties with our old dining habits hasn't been easy, but Americans have changed the way they're eating during the recession. They've replaced meals out with meals made at home, though that doesn't imply they're actually homemade. According to ABC News, items like DiGiorno frozen pizza, Oscar Mayer meats, Oreo cookies, and Kraft macaroni and cheese have seen the most growth during the down economy.

Some people see frozen pizza as an affordable luxury because it's relatively cheap compared to a fresh pie from the local pizzeria, but not everyone has resorted to the freezer aisle for a filling dinner. Some Americans have organized cooking co-ops that involve nothing but home-cooked meals - and they're even delivered to your door. To find out more about cooking co-ops, read more.

Cooking co-ops were created by and for people who have little time to cook dinner for their families each night. Bankrate talked to Ginny Bowie, a mother of three and vice president of a financial securities firm in Richmond, VA. She formed a cooking co-op with three other families to save money and time, and the idea has been paying off big time.

Ginny said her grocery bill is half of what it used to be and her family rarely eats out anymore. She explained how the co-op works: "Every Tuesday night, I cook dinner for three families besides my own, which is about 18 to 20 people, and deliver it to their door. Monday, Wednesday, and Thursday, the three other families cook for me."

What do you think of the cooking co-op idea? Could it work on a smaller scale?

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How-To: Determine If You Can Afford a Baby

SavvySugar — Thu, 07 May 2009 08:30:26 -0700

When other people ask you if you're ready to have kids, they're generally not referring to whether or not you can afford to raise a child. But that's one factor you can't leave out of your decision to start a family. Scroll though the financial factors to consider when determining if you can afford a baby, and remember to call your mom on Mother's Day this Sunday!

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I'm Asking: Did Your Parents Have a Career in Mind For You?

SavvySugar — Tue, 24 Feb 2009 07:15:38 -0800

Michelle Williams's daughter, Matilda, is only 3 years old, but Michelle already has an idea of what she'd like her adorable daughter to be when she grows up. The actress said she doesn't want to raise Matilda in Los Angeles "for all the obvious reasons. Being an actor's daughter. It's a town that's about one thing, and I want her to have options." Instead, Michelle has hopes that her li'l one will someday be a doctor.

Did your parents have a career in mind for you, and did their dreams for you come true?

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Holiday Tip: Be Prepared With Answers About Your Job

SavvySugar — Fri, 21 Nov 2008 13:30:07 -0800

The days of having your cheeks pinched might be gone, but you're still not getting away under the radar at family gatherings. You're certainly not alone if the question, 'So, what is it that you do now, dear?' sounds familiar. Family gatherings characterize the holidays, and while you just want to enjoy your time out of the office and give thanks or drink hot chocolate by the fire, your relatives will want the latest on your life.

You want to be prepared with a response that is succinct and delivers a clear enough explanation of what it is that you do, exactly. Many of our jobs are on the obscure side and we don't want to get frustrated with our relatives who might be in the dark about how we spend our weekdays. Before you make an appearance at a gathering, come up with a general idea of how you'll respond when asked about your job. The more straightforward you answer the first time around, the more time you'll have to discuss things other than work.

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Do You Have a Clear Picture of Your Parents' Finances?

SavvySugar — Mon, 10 Nov 2008 07:15:52 -0800

Many of our parents are nearing retirement age, and it's likely their retirement portfolios took a hit with the market. Almost half of you said your parents have a good idea about your financial state, but does the transparency go both ways?

Ron Lieber of The New York Times suggests it's important to open an inter-generational dialogue about the family's finances: He says parents should be honest if their retirement savings have been devastated and their kids should admit their monthly debt payments.

Do you have a clear picture of your parents' finances?

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