Posts Tagged ‘parents’

Millennials are saving more for retirement

Posted on November 10, 2017 by Laura Lam

In the race to save for retirement, one group is doing surprisingly well: millennial parents.  That’s according to a new NerdWallet survey, which found that 38% of millennial parents (ages 18-34) save more than 15% of their income for retirement. All told, millennial parents reported a median retirement savings rate of 10% of income, compared with 8% for Generation X parents (ages 35-54) and just 5% for baby boomer parents (ages 55+). Given the picture typically painted of this age group, you might be shouting “fake news” right now. There’s one caveat: The results include only those currently saving for…

Parents – Do You Tip Your Waiter Enough?

Posted on May 15, 2015 by Saldutti

What parent hasn’t surveyed the aftermath of a dinner out with the kids – the food chunks on the floor, the sugar packets dumped out on the table, or the memory of your little one spontaneously jumping from his chair and nearly tripping the waitress – and thought: just how much does the waitstaff here hate me?  And more importantly, how much do I now need to tip them to make up for this mess? You want to tip the waitstaff well because you know you’re asking them to deal with a lot. Maybe you needed your child’s food brought…

Debt Near the Bottom of Parents' Financial Concerns

Posted on April 17, 2014 by Saldutti

America’s parents worry more about inflation and setting a good financial example for their kids than taking on too much debt, a survey shows. In T. Rowe Price’s 6th annual Parents, Kids & Money Survey, concern about debt ranked seventh among the eight financial worries parents were asked about. Just over half the parents (53%) worried about debt. The top two concerns of parents were the cost of things going up (72%) and setting a good financial example for their kids (69%). When it comes to spending, only 34% of these same parents use cash most or all of the…

Money 101: Life Lessons for Kids

Posted on September 01, 2010 by Saldutti

Did you know … The average college graduate has nearly $20,000 in debt? Nearly one in five 18 to 24year-olds is in “debt hardship?” Undergraduates are carrying record-high credit card balances – the average (mean) balance is $3,173? Now more than ever before, it is vital that we teach our teens and young adults about credit.  One of the reasons so many Americans seem mired in bad debt is that financial education is practically nonexistent.  The life lessons we have learned through the years are not regularly taught in schools.  While access to credit might be harder to acquire now…