Money Lessons That Actually Stick

Efforts to make us smarter about money don’t seem to be working.

A Harvard Business School study found personal finance classes taught in high school had no effect on “financial outcomes,” such as how much people saved or how likely they were to miss payments on debt. A report for Management Science found that even intensive instruction had “negligible effects” on people’s behavior. That’s led some critics to say financial literacy education doesn’t work.

But other research has found methods that show promise. If you want to improve your relationship with money or teach your children about personal finance, these findings may help you do just that.

In my latest for the Associated Press, how to best improve your relationship with money and pass that knowledge to your children.

Thursday’s need-to-know money news

FICO-score-calculation-300x281Today’s top story: Applying for the wrong credit cards can make bad credit worse. Also in the news: Store reward programs worthwhileness, preschoolers and personal finance, and the #1 cause of financial stress in your state.

Applying for the Wrong Credit Cards Can Just Make Bad Credit Worse
Be selective.

Are Store Rewards Programs Worthwhile?
Only if you’ll actually use the benefits.

Should Preschoolers Be Taught Personal Finance?
It’s never too early to start.

This is the No. 1 cause of financial stress in your state
Odds are pretty good your state is worried about debt.

Wednesday’s need-to-know money news

22856641_SAToday’s top story: Finding your college savings “magic number.” Also in the news: What to do when your bank isn’t measuring up, what to buy (and skip) over Labor Day weekend, and how teachers are bringing financial literacy into classrooms.

Finding Your ‘Magic Number’ for College Savings
Coming up with a reasonable estimate.

Bank Not Measuring Up? How to Tell and What to Do
You don’t have to stick with a bad bank.

What to Buy (and Skip) Over Labor Day Weekend
Navigating the sales.

How Teachers Are Bringing Financial Literacy Lessons to the Classroom
Getting kids excited about saving.

Tuesday’s need-to-know money news

imagesToday’s top story: Simple ways to teach your kids about money. Also in the news: Investing tips for those in their 20s, the best things about buying a house in the fall, and why you should look at frugality as a method instead of a lifestyle.

Simple Ways to Teach Your Children About Money
It’s never too early to start.

5 Investing Tips for Your 20s
Taking the longview.

The 7 Best Things About Buying a House in the Fall
Timely tax deductions.

Think of frugality as a method, not a lifestyle, to avoid wasting your time
It’s not just about saving money.

Monday’s need-to-know money news

Student-LoansToday’s top story: How to do what your love and still pay off your student loans. Also in the news: What to consider before attending a for-profit college, five crucial personal finance lessons to teach your children, and how to make the most of working with a financial advisor.

How to Do What You Love and Pay Off Your Student Loans
They’re not mutually exclusive.

5 Things to Consider Before Attending a For-Profit College
Reading the fine print.

Teach Your Children These 5 Crucial Personal Finance Lessons
Starting them off on the right foot.

How To Make The Most Of Working With A Financial Advisor
Getting the advice you need.

Thursday’s need-to-know money news

teen-creditToday’s top story: What your high schooler needs to know about credit cards. Also in the news: Saying goodbye to foreign transaction fees, the new calling limits facing debt collectors, and how letting your adult child stay home could benefit you financially.

Credit Card Basics for High School Students
What your high schooler needs to know.

As International Travel Grows, Foreign Transaction Fees Get Left Behind
Bid farewell to foreign transaction fees.

Debt collectors could face new limits on calls
Changing the collection game.

Read This Before You Push Your Deadbeat Millennial Out of the House
Having your adult child at home could be financially beneficial.

Monday’s need-to-know money news

1436536219414Today’s top story: Time to give your financial goals a midyear checkup. Also in the news: The statute of limitations on debt, how to save on child care, and financial concepts to teach your teen.

Give Your Financial Goals a Midyear Checkup
Checking your progress.

The Difference Between a Debt’s “Statute of Limitations” and Your Credit History
The debts that will not die.

7 Ways to Save on Child Care
Saving where you can.

5 Financial Concepts To Teach Your Teen Before High School Graduation
Get them on the right path before they leave for college.

Wednesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to improve your online banking security. Also in the news: Avoiding overwhelming student debt, getting the most out of your 401(k) plan, and 12 cheap ways to keep your kids busy this summer.

5 Ways to Improve Your Online Banking Security
Protecting your information.

8 College Planning Tips to Avoid Overwhelming Student Loan Debt
There are alternatives.

401(k) Fatigue? Here’s How to Get the Most Out of Your Plan
Don’t leave money on the table.

Summer is coming: 12 cheap ways to keep your kids busy
Summer doesn’t have to cost a fortune.

Wednesday’s need-to-know money news

imagesToday’s top story: How to talk to your kids about money. Also in the news: Shrewd ways to use your tax refund for your future, how to survive an IRS audit, and tips for cancer patients who are worried about the cost of their care.

How to Talk to Your Kids About Money
The sooner the better.

5 shrewd ways to use your tax refund for your future
Your retirement fund will thank you.

How to survive being audited by the IRS
Don’t panic.

7 tips for cancer patients worrying about the cost of their care
Minimizing the stress.