Financial help: Recession-proof your money with lessons learned from COVID-19
The American Institute Of CPSs is offering financial advice for troubled times. Recession-proof your investmentsSet financial goals, stay diversified and revisit asset allocation regularly to manage market fluctuations. Create a crisis budget in troubled timesExamine current income against current living expenses. Pay with money you havedo not use credit and make matters worse. READ MORE: Lessons Learned from COVID-19 can help Americans Recession-Proof their Finances: AICPA Survey
Money Monday: Helping yourself in the New Year
Local 4 Business Editor Rod Meloni offers some helpful advice moving into 2020 in this week’s Money Monday. The earlier you detect fraudulent activity, the easier it is to stop it.” – Diane Wightman, CPA member of the AICPA Financial Literacy Commission8. The sooner you start, the more of your hard-earned money you can reclaim.” – Neal Stern, CPA member of the AICPA Financial Literacy Commission9. You may be surprised at just how much money you can save with this simple strategy.” – Neal Stern, CPA member of the AICPA Financial Literacy Commission11. Though tedious, it pays to shop around for higher rates to make sure your money works as hard as you do."
Do you give your kids an allowance? Average is $30 a week
If you're paying your kid $30 a week in allowance, that's about normal. According to a new survey from AICPA, the average weekly allowance for American kids has jumped from $17 a week back in 2016 to 30 dollars in 2019. And now there's a new tool to help parents make that happen. About 3/4 of adults surveyed said the main reason for giving an allowance was to teach the value of money and financial responsibility. As for the amount of hours kids should be putting in around the house to earn an allowance: About 5 hours per week, according to the survey.