SavvySugar

Warren Buffett Wants Kids in His Secret Millionaire's Club

SavvySugar — Mon, 27 Jul 2009 10:30:46 -0700

Some investment managers bid millions of dollars to have lunch with Warren Buffett, but kids will soon be able to benefit from his expertise for free through a new series of webisodes. The Secret Millionaire's Club is an animated series that features Buffett in cartoon form giving guidance on money matters to a group of kids. Don't expect lectures from the Oracle of Omaha; the interactive story lines are developed to keep kids' attention and inspire them to form healthy habits at a young age.

Buffett spoke with CNBC about the project, and while he's not the one writing the scripts, he believes in the importance of financial education and is lending his voice for free. He said:

If we can get through to some young people, say it's better to be ahead of the game than behind, watch out for credit cards, most important message is the best investment you can make is in yourself. Teach them if something is too good to be true it probably is. So if they learn those things the easy way through these stories early on it may save them learning the hard way later on.

To see a video of The Secret Millionaire's Club, read more.

What Did You Do With the Money From Your Summer Jobs?

SavvySugar — Tue, 07 Jul 2009 10:30:45 -0700

Earning a little allowance is nothing compared to the money you make from your first Summer job, no matter how terrible it was. Most of my paychecks went to filling up my gas tank, frozen yogurt, and the big purchase of a laptop I saved up for during the Summer before my freshman year of college.

Where did your cash go - did you spend it on gas, snacks, and new bikinis, or did you save up for something more?

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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Guess How Much: The Cost of a Baby's First Year

SavvySugar — Thu, 05 Feb 2009 04:30:14 -0800

Have you heard? Kids are expensive. The Wall Street Journal reports there's could be a shift in women starting to having kids younger than they've trended in the past, but I have a feeling the economy will play a big part in whether this shift sticks. Can you guess how much the average middle-income couple spends on babies in their first year?

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I'm Asking: Did Your Parents Have a Say in Your College Major?

SavvySugar — Thu, 06 Nov 2008 11:30:15 -0800

College is all about independence, at least in terms of making every day choices like going to class, what to eat, and how late to stay out. My parents didn't try and stop me when I declared my major, though I knew other students who weren't given the freedom to choose any major they pleased. CNN Money's article "Your highly educated dishwashers" gives a little perspective into the thought process of parents with college-bound kids, and it got me wondering how many of your majors were influenced by your parents. Did your parents have a say?

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How Money Are You: $1,000 US Treasury Department Quiz

SavvySugar — Wed, 05 Nov 2008 11:30:58 -0800

The US Treasury Department is getting on the bandwagon of rewarding kids' knowledge with money and is offering the chance at a $1,000 scholarship for teens who can ace a 35-question financial literacy quiz. This is one educational initiative that's taking a step in the right direction and hopefully it's a sign that finance will become more common in classrooms. The Wall Street Journal got its hands on five sample questions from the National Financial Literacy Challenge, and I've reproduced them here for you to test your knowledge - would your score be worthy of $1,000?

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Do You Fear Money Will Prevent You From Having Kids?

SavvySugar — Mon, 03 Nov 2008 10:30:51 -0800

The economy has forced us to focus more on the present and less on the future; we're more worried about holding on to our jobs than plotting our next promotion. One of the biggest (and most expensive) topics under the future umbrella is starting a family - are you concerned that financial issues will hold you back from having kids?

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Should Parents Bail Out Their Recently Graduated Kids?

SavvySugar — Thu, 09 Oct 2008 14:50:16 -0700

Parents of recent college graduates may seem like they are in a better spot than most - they aren't ready to retire and have time to make up for losses in their retirement portfolios, many have made significant headway into their mortgages, and they don't have dependents that need groceries or gas. But the economy isn't letting anyone off easy right now, including this demographic.

According to The Wall Street Journal, many American parents with college-aged kids are battling whether or not they should bail out their offspring. The average student loan in the past year was $22,000, and entry level salaries for new grads are not keeping up with the rise in student loans. On top of their student loans, many new grads come out of school with credit card debt, and without the means to pay these off there's a risk of default and ruined credit.

Credit counselor Bruce McClary observes, "Similar to questions about the overall economy, many parents are wondering, should I bail my kid out? Or let him claw his own way, let him fail?" What do you think?

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Teen Girls Want to Be Models, Not Scientists

SavvySugar — Sun, 05 Oct 2008 07:00:49 -0700

Just to confirm that teenage girls were mostly uninterested in developing careers in science, the New Outlooks in Science & Engineering group (NOISE) ran a survey asking the 13- to 18-year-old demographic about their ideal careers. Just four percent selected engineer as their career of choice, 14 percent opted for a career in science, and 32 percent have their hopes on a career in modeling.

While these results aren't particularly shocking, it's interesting to note that 35 percent of the girls aren't attracted to careers in science and engineering because they don't know enough about the opportunities in these areas. NOISE is working to get girls more interested in math and science by allowing them to shadow scientists at work, and hopes to influence the media to portray the field in a more positive light.

Did you ever consider a career in science growing up? Do you think there was enough exposure to the possibilities in the field when you were in school?

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