Global News Post: Money

$540 Million Jackpot Sparks Lottery Frenzy in US

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</span></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">A record $540 million U.S. lottery jackpot has people across the country racing to buy tickets.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Lottery officials are calling the winnings at stake in Friday's Mega Millions drawing the "largest lottery jackpot in world history." <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The dream of half a billion dollars has sparked lines at convenience stores across the 42 states where tickets are sold and spirited discussions about what to do with the wealth. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"Buy my family all new cars, pay off all their debt and then buy a house in Thailand," said a lottery ticket holder. "Take all my friends on a great trip."<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Here's a sampling of what some people intend to do with their potential winnings:<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''First thing I'd buy is I'd buy Jerry Jones out, and I'd own the Dallas Cowboys, so we can win some championships," said another.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''Definitely buy a house.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''I wouldn't buy. I would pay for the rest of my house.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''First purchase is going to be the house.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"A house."<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"Probably a house."<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"Green Corvette.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''Help my brother.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''More Lakers and Boise State stuff for my truck.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''A horse.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''I would probably go around the world on a trip.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">''My own island.''<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"Second purchase is going to be a down payment on an island."<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Americans can also play Mega Millions in Washington D.C. and the U.S. Virgin Islands.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The odds of winning are about one in 176 million. That means a person would have to purchase 176 million of the $1 tickets to get every combination of the five numbers plus one Mega Ball number contained in each play.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Whoever wins has the option of taking a lump sum payment of about $390 million or an annuity option of about $20 million a year over 26 years. Both amounts are before taxes. --- VOA News<o:p></o:p></span></div></div>

$540 Million Jackpot Sparks Lottery Frenzy in US

A record $540 million U.S. lottery jackpot has people across the country racing to buy tickets. Lottery officials are calling the winning...

Online Money Management Sites Cater to Young Savers

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<div class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif; line-height: 115%;"><span class="Apple-style-span" style="font-size: x-small;"><b>By Faiza Elmasry from Washington, D.C</b></span></span><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">.</span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">New youth-oriented banking websites target young people who are often better known for impulsive spending than for saving money.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The websites offer information and tools to help clients become better money managers and to share their financial experiences with other young people. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Alix Scott, 19, is working at a store this summer, saving money to pay for college next year.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">“I have to save for all my college money because my parents, they can’t afford to co-sign on loans,” she says. “So, I have to rely on my own savings.”<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><b><span style="color: #c00000; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><br />
</span></b></div><div class="MsoNormal" style="text-align: justify;"><b><span style="color: #c00000; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Online piggy bank <o:p></o:p></span></b></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">But rather than put her money in a local bank, Scott opened an account on SmartyPig, a web-based banking service.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">“When I do that, I overcome the impulses to just spend the money,” she says.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Michael Ferrari founded SmartyPig with a friend in 2007. After starting a college account for his new baby, Ferrari says he realized the power of saving for a specific goal. Helping other savers stay focused on their goals is the idea behind his online piggy bank. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">“SmartyPig is really all about helping people to save for specific financial goals. It can be a wedding, a vacation, an i-Phone,” he says.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><b><span style="color: #c00000; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Ferrari explains how PigySmart works.<o:p></o:p></span></b></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">“For example, I’m saving for a vacation," he says. “I want to save $5,000. I want to meet this goal in three years. SmartyPig will actually calculate how much money you need to allocate every month. You don’t have to move it from your existing bank. We’ll actually go in and withdraw those funds on the day you specify every month and we put it into your SmartyPig account, where they’ll actually accrue interest, as well.”<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">And, Ferrari says, the site also allows depositors to get outside help. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">“Perhaps a holiday or a birthday is coming up. Rather than getting a gift, your friends and family can actually contribute to any of your SmartyPig goals.”<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><b><span style="color: #c00000; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><br />
</span></b></div><div class="MsoNormal" style="text-align: justify;"><b><span style="color: #c00000; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Sharing savings goals online<o:p></o:p></span></b></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Twenty-two-year-old civil engineering Major Khang Nguyen likes being able to share his saving goals with his online community. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">“I think it's actually a good thing that they are able to see it,” Nguyen says. “Like, you know a bunch of my friends after they find out about what I do, they always come ask me for financial advice.”<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Online banking sites like SmartyPig are attracting a growing number of young depositors, who like the convenience and services. These personal finance websites offer a variety of money management tools which help users track their spending, set up a budget and consolidate their accounts.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">And they all have a social media aspect, which appeals to young adults who are already comfortable sharing their personal information online.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">“There are all kinds of individuals out there who have their own blogs who are talking about money, creating videos, making info graphics and are talking about money. You just see personal finances information in places that you wouldn’t expect,” says Janet Stauble, spokesperson for the personal finance website, bankrate.com. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">She adds, “It’s not likely that you might go to a friend and say, ‘Hey, I paid off $1000 on my credit card today,’ but people write up blog posts about it and they explain how they did it, how much closer they are to their financial goal, whatever it is.”<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">As technology continues to evolve, she predicts more people will embrace the emerging electronic banking sites.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><b><span style="color: #c00000; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><br />
</span></b></div><div class="MsoNormal" style="text-align: justify;"><b><span style="color: #c00000; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Online partnerships with banks<o:p></o:p></span></b></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Steve Weisman, who lectures about financial issues at Bentley University in Waltham, Massachusetts, says the more innovative these sites are in providing their services, the more successful they will be in doing business alongside traditional banks or in cooperation with them. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">“For instance, SmartyPig, they are not actually a bank, but they are partnered with a bank," Weisman explains. “So what you’re going to see is big banks and little banks that are legitimate financial institutions, but not necessarily the most savvy when it comes to computers or the Internet, they will partner up with other companies that may be doing some of the web material and other assistance, while the actual banking would be done through a bank with which it is connected.”<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">That collaboration, he says, will change the way Americans save in the future.</span> <span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">(VOA News)<o:p></o:p></span></div></div>

Online Money Management Sites Cater to Young Savers

By Faiza Elmasry from Washington, D.C . New youth-oriented banking websites target young people who are often better known for impulsive s...

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Sam’s Exchange: The Law of Money

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<div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif; font-size: xx-small;"><i><b>By Sam Barden</b></i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i><br />
</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>What is Money? Money is any object of record that is generally accepted as a payment for goods and services and repayment of debt. The main function of money is as a medium of exchange, a unit of account or a store of value. Money originated as commodity money, but today nearly all money is fiat based money.</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i><br />
</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>Commodity money is money that is backed by something, like gold or silver, whereas fiat money has no intrinsic value, and is only backed by the government which issues it. To most of us, money is cash, and we don’t really think beyond that. We know that if we have cash in our pocket we can buy whatever we want to the value of that cash. Now days, larger purchases for a new car or house are done via electronic transfer, such as credit or debit card or bank transfer, but we still consider this real money as ultimately we have to pay it back if we use credit. We do this by working hard most of our adult life, to earn money so that we can thrive and survive. There are certain unwritten rules we learn about money, or what we might term as the Law of Money.</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>The First Law: Money does not grow on trees!</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>We usually learn this law about money when we are children, from our parents. We ask them once too often to buy something for us and the response comes back: “Money does not grow on trees.” The lesson in this law is that money has value and we cannot just go out to the magic money tree and pluck some dollars off the branches to go and buy whatever we want. We have to provide goods or services in order to get money to buy things we want. Pretty soon after we have learnt this simple lesson as kids, our parents follow this up with the concept of pocket money, where they give us a small amount of money in exchange for doing jobs around the house on a regular basis, like cutting the lawn, emptying the bins, or cleaning the family car. We learn that money has value.</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>The second Law: Real Money is in the pocket of the worker</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>We all know the term cash is king. You see signs in shops or service providers that say no credit cards accepted, no checks accepted, but you never see a sign that says no cash accepted. We only trust bank accounts and banks to a certain extent. If we lose that trust, there is a run on the bank and we all want to withdraw our cash. This money that we withdrawal from the bank has been earned in exchange for either goods or services, and has been taxed, and ends up in the pocket of the worker. It is real money, which is passed around in the real economy. This money represents real spending power in the economy, and when in the bank this money belongs to the depositors and when withdrawn ends up in the pocket of the worker. Real money flows into the real economy from the pocket of the worker.</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>The Third Law: Real Money is finite:</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>The notion that real money is finite means that just like a natural resource it will run out. Although the fact that most money today is fiat money, and has no intrinsic value, we consider it to be finite and therefore something we should use wisely. From an early age we are encouraged to save money. We all have heard of the term save your money for a rainy day. This means that in the future we might get sick, lose our job, or have an unexpected expense, and we should save some money for events like this. The notion that our money will run out, or is finite, keeps us motivated to work and theoretically save. Real money is finite and a resource we use scarcely.</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>The Fourth Law: There are consequences for ignoring the first three laws.</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>Real money has been substituted for fake money. In August of 2008, the entire banking system held about $50 billion in actual cash reserves while clearing trades of USD $2,996 trillion per day. Yet every one of these trades involved a noncontingent promise to pay hard cash whenever it was asked for. This is the root cause of the financial crisis we are in today. The fake money, which was grown on trees and never ever entered the pocket of the worker, was considered infinite by the system that created it (the banks off balance sheet derivatives market) and tried to do the impossible: convert itself into real money. In attempting to do so, the fake money broke the law of the real money, resulting in the crash of the fake money system.</i></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>The Law of Money will prevail, and the fake banking system will fail!(RIA Novosti)</i></span></div><div style="text-align: justify;"><br />
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Sam’s Exchange: The Law of Money

By Sam Barden What is Money? Money is any object of record that is generally accepted as a payment for goods and services and repayment of...

Financial Literacy Lessons: A Family Affair

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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8QZU3hcQEHB1ZB7Qai12qDYL8-wB5pyetJHhgKsxJAYxUA1z1ZNM5adnzWGC13kX6Dpzmxau9VLCveOaOqvWaa1nAlYlGd9bEdlrfxyOn6oV_QzUNkT-eZJBD0HybyukUCcn-ISsQbb8y/s1600/FinancialLessons.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8QZU3hcQEHB1ZB7Qai12qDYL8-wB5pyetJHhgKsxJAYxUA1z1ZNM5adnzWGC13kX6Dpzmxau9VLCveOaOqvWaa1nAlYlGd9bEdlrfxyOn6oV_QzUNkT-eZJBD0HybyukUCcn-ISsQbb8y/s1600/FinancialLessons.jpg" /></a></div><div class="MsoNormal" style="text-align: justify;"><span class="Apple-style-span" style="font-family: 'Trebuchet MS', sans-serif; font-size: 16px; line-height: 18px;">(NewsUSA) - <b><i><span class="Apple-style-span" style="color: #38761d;">Studies have shown that parents have the greatest influence on their children's financial habits, and now, more than ever, mothers and fathers are taking the primary role in educating kids about healthy money management.</span></i></b></span></div><div class="MsoNormal" style="text-align: justify;"><span class="Apple-style-span" style="font-family: 'Trebuchet MS', sans-serif; font-size: 16px; line-height: 18px;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">"Most financial experts agree there is a need for financial discussions among families to avoid or soften potential future economic upheavals," says Suzanne Poole, executive vice president, retail sales strategy, TD Bank. "According to a recent financial literacy poll by TD Bank, only 50 percent of families report having weekly conversations with their children, even though there are easy ways to incorporate tips about money in everyday conversation."<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">TD Bank surveyed 1,637 consumers within the Northeast as well as in Florida and Washington, D.C. With a little more than half of families having weekly conversations with their children about money matters, it's important to keep it simple, be honest, and make it fun. Now, let the lessons begin:<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><b><i><u>Be Open:</u></i></b> According to the survey, a majority of parents agree that honesty is the best policy when talking to children about household finances. Perhaps as a result of the recent economic struggles, the survey found that 55 percent of families say they are talking with their children more often about money.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><b><i><u>Set Savings Goals:</u></i></b> TD Bank's survey showed that teaching children to save with a piggy bank is one of the most popular money-related activities. That being said, only one in three parents reports setting a savings goal. If your child is saving, help them set goals and define the steps needed to reach them.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><b><i><u>Establish a Family Budget:</u></i></b> Despite the evidence that better budgeting can lead to saving, the survey shows that 47 percent of families are still not following or creating a monthly budget. Financial websites, such as Mint.com, offer free programs and budget templates to develop a financially fit family budget.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
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Financial Literacy Lessons: A Family Affair

(NewsUSA) - Studies have shown that parents have the greatest influence on their children's financial habits, and now, more than ever, ...

Life Insurance: Possibilities in A New and Complex World

<div dir="ltr" style="text-align: left;" trbidi="on"><br /><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: 'Trebuchet MS', sans-serif; font-size: 16px;">(NewsUSA) - <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="color: red;">According to a recent study published by the Life Insurance and Market Research Association, last year only</span></i></b></span></div><div class="MsoNoSpacing" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="color: red; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;">44 percent of U.S. households had individual life insurance, and 30 percent of U.S. households had no coverage at all. <o:p></o:p></span></i></b></div><div class="MsoNoSpacing" style="text-align: justify;"><br /></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;"><o:p></o:p></span></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;">These statistics come at a time when using life insurance for both its protection benefit and as a way to build cash has never made more sense. Once pillars of financial stability, home equity, defined benefit plans, 401(k) matches and social security are now under threat. Under these circumstances, funding a college education, launching a new business or meeting an unexpected health emergency are daunting and cannot easily be resolved with many of yesterday's financial solutions.<o:p></o:p></span></div><div class="MsoNoSpacing" style="text-align: justify;"><br /></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;"><o:p></o:p></span></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;">A permanent life insurance policy that is reviewed and updated on a regular basis protects more than just assets. It brings stability and can help you take advantage of so many of life's possibilities.<o:p></o:p></span></div><div class="MsoNoSpacing" style="text-align: justify;"><br /></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;">If you are thinking about buying life insurance or increasing the amount of coverage you already have, here are some common misperceptions you should know:<o:p></o:p></span></div><div class="MsoNoSpacing" style="text-align: justify;"><br /></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;">Life insurance is a death benefit only. In addition to a death benefit, permanent life insurance offers cash value accumulation.<span style="mso-spacerun: yes;">  </span>This money can be used to cover all kinds of life expenses for you and your family, or, small business.<o:p></o:p></span></div><div class="MsoNoSpacing" style="text-align: justify;"><br /></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;">Buying term insurance with a minimum amount of death benefit and putting the rest of your money in other investments is the way to go. While death protection is important, permanent life insurance offers that protection and cash accumulation, thereby meeting your needs as they evolve throughout your lifetime.<o:p></o:p></span></div><div class="MsoNoSpacing" style="text-align: justify;"><br /></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;">Life insurance matters only when you have children. Life insurance can fulfill many different needs aside from protecting children. For instance, you can access the cash value of a permanent policy to help grow a business or fund a favorite philanthropy.<o:p></o:p></span></div><div class="MsoNoSpacing" style="text-align: justify;"><br /></div><div class="MsoNoSpacing" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt;">Life insurance is a monthly bill. Premium payments on a permanent life insurance policy are an investment in your future. A permanent policy is like paying yourself, as the policy accumulates cash value over time that can be used when and however needed.<o:p></o:p></span></div></div>

Life Insurance: Possibilities in A New and Complex World

(NewsUSA) - According to a recent study published by the Life Insurance and Market Research Association, last year only 44 percent of U.S. h...