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The report draws on data from an online survey of 1,000 parents of children ages 8 to 14, and those children (881 of them). The margin of error for the results is plus or minus 3.1 percentage points.
The survey asked children to rate their understanding of various financial concepts and answer some yes-or-no questions, like whether they think they are smart about money. Among kids whose parents give them an allowance, 32% said they are very or extremely knowledgable about managing personal finances, compared to 16% among those who don't get allowance. On average, that gap between those who do and don't receive allowance was a 15-percentage-point difference in very or extremely knowledgeable children (in their personal opinions) when it comes to budgeting, credit, student loan debt, taxes, investing, Social Security, mortgages and inflation.
Is Your Credit Lender-Ready?Find out where you stand with a FREE summary of your credit report and 2 FREE credit scores, updated each month. Know what your lender will see before you apply.Get Started Now »The presence of an allowance doesn't seem as influential as whether or not a child's parents discuss money with them at all. Children whose parents frequently discuss finances with them are much more likely to feel like they are very or extremely knowledgable about financial topics. Among kids who talk about money with their parents, 46% feel they have a good understanding of managing personal finances, compared to 14% of those whose parents don't talk to them about money. With credit, that difference in confidence is nearly just as wide: 39% to 9%. Given the huge impact student loan debt is having on American consumers and, by extension, the economy, i t seems important that young people grasp this financial concept, but only 9% of kids whose parents don't talk to them about money say they really understand it. Kids with parents who talk to them about money are much more likely to say they get it: 39% said they're very or extremely knowledgable about student loan debt. It's all related, anyway: Student loans can have a big impact on your credit score, setting the tone for your financial life long after college is over. (Credit.com offers two free credit scores plus a breakdown of how your debts and other factors are affecting your credit, which can be helpful for your own information… as well as for teaching your kids about finances.)
The survey is a self-assessment, but it could indicate a significant difference in financial confidence between kids whose parents introduce them to the lifelong responsibility of managing one's money.
Beyond talking to kids about money, it helps when parents talk to each other about finances (this section of the results is based only on responses from married adults with children ages 8 to 14). They're not just having casual chats about the household budgets, either — kids whose parents argue about money were much more likely to say they understand things about personal finance than kids whose parents don't discuss or argue about money.
For parents wanting to raise financially informed children, it seems to come down to your own knowledge of and involvement with personal finance. The more you know, the more your kids will know — if you talk to them.
More Money-Saving Reads:Image: iStock
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American Hacker shows you how to make a cool cardboard bionic hand with pull string fingers. Sure, it isn't state of the art, but none of us has the kind of money needed for a real cyborg hand.This is just a fun project to do when you are bored at the office. It would be cool to do with your kids too. It could not be simpler.
[via Laughing Squid]
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In April, Steam and publisher Bethesda worked together to introduce a new system where mod creators could charge for the add-on content they built for the megapopular role-playing game The Elder Scrolls V: Skyrim. Gamers did not react well to this — with many arguing that Bethesda, Valve, and modders were greedy for charging for labor that previously went unrewarded. This led to Bethesda and Valve quickly ending the paid-mod idea just days after introducing it. But it may make a return.
Here's what the Steam page still says about paid mods even after getting updated today:
"Why are some mods free and others cost money?
Each mod author decides whether they think there is enough customer interest in their mod to list it for sale. Just like buying a game, paying for a mod helps to support and reward the team (sometimes consisting of just one person) who have worked hard to create that new content."
We've asked Valve if this means that the return of paid mods is imminent. We'll update this post with any new information.
The timing of this post is interesting. We're about two months away from the debut of the next Bethesda release, Fallout 4. That game, like its predecessors, is bound to have a highly active modding scene. And while that might seem like it would make Fallout 4 ideal for the reintroduction of paid mods, the company says that isn't necessarily the case.
"[We're] focused on finishing the game," Bethesda communications boss Pete Hines told GamesBeat. "We will focus on mods, mod tools, and the rest after we're done."
It's possible that Bethesda wants nothing to do with paid mods after Skyrim, and Valve is just prepping to reintroduce this feature for another game.
Bethesda Softworks, a division of ZeniMax Media Inc, founded in 1986, has a long history of success as a developer and publisher of award-winning video games for PCs, Sony's PlayStation®, PlayStation® 2, and Microsoft's Xbox®, a... read more »
Valve is an entertainment software and technology company founded in 1996 by Gabe Newell and Mike Harrington and based in Bellevue, Washington. The company became famous from it's first game Half-Life. Valve currently develops and ma... read more »
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And I think after our Queen, Linda Ikeji has had her own feel of experiences, she considered it wise to question the woman's status and the issue of equal rights bothering them as being relevant to every society. She is definitely not comfortable with devalue of a woman's worth and dignity. Women are to be prided with great respect and sense of nobility.
Unfortunately, it is highly disappointing that most women themselves don't understand their positions in the count of things and in activities of life. In marriages, they make the most regrettable mistakes. In choice of career, they make the most horrible choice of vocation. Was it not why a lady was asked what she would be looking out in a man for marriage, and she replied, "I need a tall, handsome and rich man for marriage." You can imagine! Anyway, I'm not sure it's for marriage; probably she needs such man for a wedding, as most ladies now invest so much energy in planning their weddings than marriage.
You don't take little or momentary decisions that would shatter the rest of your life and existence. This is the primary essence of Linda Ikeji's project. She wants the ladies to go through the pains of building a future, and then enjoy it forever when it will come. And I'm happy this is coming from her; a woman who has had her experience of social, economic and cultural oppression. Today, I'm also happy that she is experiencing the joy of dignity, equality and fulfillment.
How come the headline? I came across this screaming headline from a Nigerian blog: "Linda Ikeji Throws 15 Million To Nigerian Ladies With Good Business Ideas.� � It is coming from the heels of her newly found love, Project "I'd Rather Be Self Made".
Before I read about the project, I've seen the statement "I'd Rather Be Self Made" on a customized red top she wore in a photo, a time. And the other, it was a piece written by one of my natural and real friends, Onyeka Nwelue. I prefer calling him real, but he chooses to describe himself as being shameless; maybe because he takes responsibility of his action. I think! In his piece, he noted: "When I started chatting with her via WhatsApp, her profile status said and still says: 'I'd Rather Be Self Made.' This will sound funny, but she doesn't allow people do anything for her."
What does it mean? She lives a life she preaches. What she wants, she adopts. And she is not being hypocritical over it. On her latest project, I will agree that, "she has had her fair share of turmoil, troubles and hustles. She has faced crushing rejection. She is driven by the wi ll to pay back many people, to succeed." And personally, I think it is the exact reason behind the unveiling of Project Self Made.
Though she wrote by saying: "See the first beneficiaries of my 'I'd Rather Be Self Made' project. Over N5 million given away. I am excited and I can't wait to help more young ladies start their own businesses. So earlier this year, I announced that I was going to set aside N10 million grant to help young ladies with dreams, ambition and great business ideas to start their own small scale businesses."And finally, I've done it. I've spent over N5 million on 15 girls. And I have over N5 million to give away before the end of the year. You have a great business idea and need startup capital? I'm here to help!
"I really want more women to succeed, to be more independent, to make their own money, and stop sleeping with men for money. And I will do everything I can to help as many as I can. I'm truly hoping to make new set of self made women and like I said, when I started this, I plan to do this for as long as I can. Once this N10 million is exhausted, I will bring out more money."
Is this not rare from an everyday lady in Nigeria? She may completely not go round in changing the mindset of every Nigerian lady, but she has placed a mirror for proper reflection. She just planted a positive seed in the lives of those ladies through this gesture. I'm also hoping that the ladies on their own will not stop the drive, as they will individually continue to be change agents through exchanges.
After her emphasis, I think this very line connects to me: "Aside from giving them money to start their businesses, I will also use my platform (LIB) to push their businesses. Whenever I post anything from any of my SelfMade ladies, I will indicate it's one of my girls so you can please patronize them." This works! Aside from sending in stories to LIB platform and watch it published, I also monitor th e excitement in the hearts of people I submit their stories.
They are always happy seeing their stories being published by LIB after I must have submitted them. And you know what? I placed prominence to it, as rarely do I submit. Many careers have received facelift as a result of their stories I submitted to LIB. In fact, you need to see the messages and mails I get whenever a story is being published on Linda Ikeji's Blog. Some of them even out of excitement request for my account detail for an alert; I must confess. So, even without the financial support offered by our Queen, Linda Ikeji, the update on her media platform alone goes a long way in adding values and facelift to their businesses.
It's even unfortunate that most people out of their frustration get emotionally depressed when they hear, Our Queen or Africa's biggest blogger. And till this moment, the name Linda Ikeji is still experiencing such harsh remorse from our people, especially among writers and bloggers. Even before Onyeka enumerated it, we know writers don't like her. But you know what?
No writer ever excels hating the other. If you must grow or be successful as a writer, you must learn to appreciate, discredit injustice and accommodate good morale. On this note, I will say a big thank you to our Queen, Linda Ikeja for not letting the turmoil and hostility of our society to discourage her. Nwanyioma, please, keep doing good!
UGOCHUKWU FAVOUR-MAYORUGOCHUKWU FAVOUR-MAYORLINDA IKEJI More Nollywood » Comments:This article has 0 comment, leave your comment.
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Judy Kennamer
A new study is out that compares what it costs to live in more than 600 cities across the nation.
According to the nonprofit Economic Policy Institute, a Nashville family of four must make $54,389 to enjoy a "secure, yet modest living." Notably, that's higher than Nashville's median household income of $46,686, according to the U.S. Census Bureau's most recent data (for 2009-2013).
A single adult, meanwhile, would need $27,597 to get by in Nashville.
Researchers looked at costs associated with housing, food, transportation, health care, child care, taxes and other expenses. How does Nashville compare? Here's how Music City stacks up against some of our neighboring or peer cities, using what a family of four would need:
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I can still remember as a kid that my parents didn't talk about money, sex, religion, or politics in "polite company." That just wasn't done. Over time, it became clear that "polite company" included just about everyone when the subject involved money. I'm betting many of you had a similar experience.
Think about where that leaves people. We've been told for years to not talk about money. We may even be extending that restriction to our kids. So what happens when we face really complex decisions involving money? Who do we talk to when we've been told to not talk about money?
(More from Carl Richards: What separates advisers from algorithms)
For just a minute, I want you to pause and recognize the sacred opportunity we have as financial professionals. We can create opportunities for people to have these conversations, to learn that it's OK to talk about money. We have the chance to teach people how to have important money conversations with their spouses, their kids, and even their business partners. That's a huge thing for our industry.
Plus, it's an important step on our journey towards becoming better communicators. As long as people feel uncomfortable talking about money, we'll have a hard time helping them learn how to make better decisions. We need to show clients that they can talk to us about these important, and sometimes complex, issues. And it starts by letting people know it's OK to talk about money in the first place.
Carl Richards is a certified financial planner and the director of investor education for the BAM ALLIANCE. He's the author of the weekly "Sketch Guy" column at the New York Times, and a frequent keynote speaker at financial planning conferences and visual learning events around the world. In 2015, he published his second book, The One-Page Financial Plan: A Simple Way to Be Smart About Your Money (Portfolio, 2015).You can learn more about Carl and his work at BehaviorGap.com.
Des is the Co-founder of Intercom, the customer communication platform. He'll be speaking at TNW Conference USA this November in New York.
The problems people encounter in their lives rarely change from generation to generation. The products they hire to solve these problems change all the time.
If you're building a new product, it's because you believe you can create a better solution that people will want to use because it delivers a better outcome. A strong understanding of the outcome customers want, and how they currently get it, is essential for you to succeed in product development.
Maybe your customers want to be entertained, or spend more time with their friends, or understand what projects teammates are working on, or maybe they want to project growth for their business. If the desired outcome is real then they are already achieving it through some product in some way. Your job is to improve upon that.
Sidenote: If you can't find what product they're currently using, the chances are that it's a fictitious outcome ("Wouldn't it be cool if…") or an aspirational one("Of course I want to lose weight"). Espoused behaviour never reflects reality.
Focussing on outcome, rather than category, industry, or product type, lets you understand your real competitors. The second a company focuses on "the industry it's in" rather than the "outcome it delivers", it loses touch, and shortly after, loses customers.
Newspapers, for example, believed they were in the 'Newspaper Industry,' and as such struggled to work out why bored commuters had stopped buying their product. They would look left and right at their competitors and wonder which newspaper had stolen their customers. They would experiment with new formats, new layouts, lower prices, sharper headlines, but they couldn't stop the rot.
Had they instead focussed on the outcome they deliver (bored commuters want to be entertained for short bursts of time with bite-sized articles), then their competitors (Twitter, Facebook, news apps) wouldn't have been so oblique to them.
Let's look at some jobs that, like boredom during a commute, have stuck around for years, through hundreds of technological advances.
People wanted to pass notes and messages, without fear of other people seeing them…
People still want this.
People wanted to store photos in a safe place…
People still want this.
People wanted to put their favourite photos in a prominent place, so everyone could see them…
People still want this.
People wanted to collect scrapbooks of ideas…
People still want this.
People wanted to post their friends and loved ones newspaper clippings…
People still want this.
People wanted to leave nice reviews, and tips for other travellers…
People still want this.
Making things people wantThere are literally hundreds of examples like the ones above and there's a common trend in all of them. Making things people want involves understanding a long standing human or business need and then using technology to:
The first approach, removing steps, is the most common for start-ups. Pick a need where the existing solutions are old, complex, and bloated, and find the simplest smallest set of steps possible to deliver the same outcome. Arranging a taxi in a city used to involve calling many numbers until you find a company with availability, then a length dialogue about your location, destination and required arrival time. Today you press one button and a car shows up.
The second approach usually involves reducing the cost (in time or money), or barriers to using a product so that more people can use it, thus expanding the market. Fourteen years ago, if someone wanted to get their writing online they had to rent a Linux server, download a .tar.gz file containing the source code of a blogging engine, upload it, run a series of weird commands to unpack it and give it write access, and then configure it. Today you can do the same job in two clicks with Medium.
The third approach involves removing common situational limitations on a workflow. Accepting payment used to involve bulky machines with rolls of thermal paper, faxing paperwork to banks, ISDN lines, and batch transaction transfers run nightly. Today you swipe a card through a phone and you're done.
Jeff Bezos is famous for saying 'Focus on the things that don't change.' The problems that people and businesses encounter don't change often. The ways they can be solved changes almost yearly. So it stands to reason that making things people want should start with the 'what people want' bit, and not the more tempting 'things we can make.'
Remember: It's easier to make things people want, than it is to make people want things.
Des will be speaking on product strategy at TNW USA Conference. He'll share his philosophy and experience from co-founding Intercom (customer communication platform with $31M in funding and 6k+ paying customers) and Exceptional (developer tool acquired and now part of Rackspace), and from his time consulting with 100s of start-ups. He'll provide takeaways for growing companies of all sizes- from brand new start-ups to established businesses- on how to analyze their products, interpret customer feedback, and plan their product roadmap.
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The first comprehensive snapshot of Australian bloggers has found that blogging has become a lucrative business, with 70 per cent earning money from their blogs and most diversifying to extend this windfall.
The Catablog.com.au survey found half of the bloggers earning income consider it extra spending money, while 20 percent said their earnings were equivalent to part time work and 11 per cent fulltime.
Catablog.com.au co-founder Janye Moore said the results provide a unique insight into the sector.
"Many bloggers make money from sponsored posts but they highlighted there is still no industry standard on cost.
"Half believe the average invoice for a sponsored post is anything up to $250, while 20 percent say it's between $250 and $400. Others say it's closer to $600.
"Bloggers with a large audience often charge $2,000 for a sponsored post and I know one fashion blogger who charges a minimum ad spend of $50,000 - but when she posts, clothes fly off the racks."
When it comes to engaging with readers outside their blog, most do so on Facebook, followed by Instagram and Twitter.
"Bloggers understand their influence and they are being more pro-active in reaching new readers by releasing e-books, podcasts, workshops or becoming brand ambassadors.
"More than half are now approaching brands and publicists instead of waiting to be contacted by them," Moore said.
The Catablog Survey results showed:
* 76% of bloggers are planning to diversify
* 42% of bloggers have or plan to release an e-book
* Other than their own platform 57 percent of bloggers engage with their audience on Facebook, 20% on Instagram, 12% on Twitter, with Pinterest the most under-utilised.
* 55% have been approached by brands and PR and more than half of those approaches have been worthwhile.
* When payment was offered by a Brand, 32% felt it was appropriate while 30% said it was below what they would expect.
* More than half of bloggers surveyed are approaching Brands and PR.
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Maintaining your car will pay off when it comes time to sell. (Westend61/Getty Images)
Regular maintenance inside and out is going to make a difference when it comes time to sell your car. "You might be tempted to take a spin through the car wash on your way to get your vehicle appraised. Save your time and cash - a car wash or last-minute maintenance will not impact the overall offer on the vehicle. What's most important is the long-term maintenance and care of your car," says Cliff Wood, executive vice president of stores at CarMax. He adds, "To determine an offer on a car, most appraisers will look at mileage, the condition of the vehicle, the vehicle's accident history, and how well it's been maintained, inside and out." Check out our used car appraisal tool to get an idea of what your car is worth.
Mechanical Maintenance
Lauren Fix, an ASE certified technician and spokesperson for the Car Care Council, says there's a simple way to set up a schedule of regular maintenance: Reach into your glove compartment and unearth your owner's manual. Follow its maintenance schedule and your car should run problem free.
However, Fix concedes not everyone cracks open the owner's manual. If your owner's manual is buried beneath a pile of Burger King receipts, Fix says your senses are an effective means for determining when maintenance needs to be done. "But I don't recommend licking your car," she says. Instead, rely on your sense of smell. Fix suggests smelling your oil at least once a month. "See if it smells burnt. If it doesn't smell right, you know there's a problem. You know you have to go after it," she says.
Matthew Wright is a repair and restoration facility owner and expert on automotive repairs for About.com. He also recommends following the owner's manual for scheduled maintenance, but adds that the Internet can be just as handy as an owner's manual. He suggests researching your vehicle to see what its potential problems are and then tracking them.
Both Fix and Wright say oil changes are important. "Years ago the accepted wisdom was to change your oil every 3,000 miles. Over the past decade that has been revised despite oil company pushback. It's still mostly around the 5,000- to 7,000-mile mark for new vehicles. If you're going to be selling your car soon and have a nice stack of record, stick with manufacturer recommendations," Wright says.
Another important area of maintenance is tire rotation. Wright recommends having it done seasonally. He says that will provide maximum life for your tires. It also helps spot problems such as uneven wear or baldness. Fix says uneven wear points to a suspension problem.
Transmission fluid is another key area for maintenance. Fix says you should check it according to the maintenance schedule, but Wright cautions against fluid and filter changes unless there are indicators the transmission isn't working well or is overheating. "A transmission place … might recommend a full flush regularly but it's just not necessary. Only do it with a car notorious for transmission problems," he advises.
Of course, any money you make from maintaining your car can be lost if you're paying too much to do it. You can use our owner's tools to find out how much car maintenance and repairs should cost you.
Interior Maintenance
Both Fix and Wright agree an important area to keep maintained in your vehicle's interior is the steering wheel. That's especially important when it comes time to sell. "The steering wheel is the biggest collector of germs and gunk in the whole car," says Fix. Wright adds, "Regular cleaning will stop it from splitting. Anything that comes off your hand goes onto the steering wheel."
Another aspect of the interior to focus on is leather surfaces. Wright says leather treatments could help restore problem areas. "You don't need to maintain the leather the way you used to. Now if you see a problem, you can add the moisturizers and sealers and prolong the life, especially on things like steering wheels," he says. Fix suggests using an all-in-one cleaner and conditioner product to maintain leather surfaces but recommends being vigilant because leather can be expensive to replace once it cracks.
Exterior Maintenance
When it comes to exterior maintenance, regular car washing is a great way to spot problems, Fix says. "It gives you the opportunity to investigate the body and fix chips with touch-up paint," she adds. Don't use household products to clean your car, however. Fix advises that specific car wash products are best.
Wright says those who live in cold weather climes should visit all-weather car washes with high-pressure hoses at least five times during the winter months to clear away road salt and other grime. "Pay attention to the wheel wells and undercarriage - especially cars with lots of plastic. It's usually on top of sheet metal. That's a perfect place for wear and moisture to wear through paint and start rust," he says.
Fix says the wheels deserve special attention throughout the year – not just in cold weather. You need to remove brake dust to protect the clear coating found on your vehicle's wheels. She also says to keep the car's undercarriage clean as part of regular car washing.
Keep Accurate Car Maintenance Records
Fix and Wright both say just as important as regularly maintaining your car inside and out is keeping accurate records that show the work has been done. "Save every receipt that has to do with your car. Keep a maintenance folder that shows you fixed problems when broke and did the maintenance. It will help buyers trust you," says Wright. That trust can go a long way toward getting you the price you want – and more money in your pocket – when you sell your car.
Once you have all that extra cash from selling your car, check out our new car rankings and our used car rankings to find your next one. When you're ready to buy, use the U.S. News Best Price Program for guaranteed savings on your new vehicle. Also, be sure to follow us on Twitter and Facebook.
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Real-Time allows anyone to search, sort, filter and get alerts for campaign finance reports the minute they land at the Federal Election Commission.
To get started quickly, take a look at the overview pages, which will give you a simple snapshot of the money influencing the 2016 elections. This section provides handy fundraising and spending totals for a variety of political groups, from super PACs to candidate committees to parties. But the true value lies in digging into the data.
You can sign up to get notified when a particular committee files — or whenever something new is reported in a particular race. You can see itemized contributions and spending; filter independent expenditures to get the latest info; or download bulk files showing all the contributions, spending or independent expenditures made to or by a candidate or committee since Jan. 1.
Below we'll highlight some of the cool features of our Real-Time Campaign Finance tracker, including presidential fundraising, outside money and more.
Presidential fundraising A screenshot of Sunlight's presidential fundraising page, found on the Real-Time Campaign Finance tracker.To help White House watchers tracking the millions of dollars at play in next year's election, we've added a collection of political committees supporting known, and likely, presidential candidates. The new page groups all the campaign vehicles of the major contenders in one place, with links to summaries of the groups' latest financial activity.
To provide as complete a picture as possible of the presidential landscape, we also list super PACs with the candidate they are likely to support in addition to their official presidential committee and leadership PAC, if available. (However, it's important to note that a super PAC may not legally coordinate any of its spending or campaign strategy with a federal candidate). We have also included political entities that don't register at the FEC: To get technical, these include 527 political groups, which make financial disclosures to the IRS, and 501(c)(4) nonprofit organizations, often called dark money groups because they are not required to reveal their donors.
Many candidates are already raising and spending money like a presidential frontrunner, so visit the presidential fundraising page and see which White House hopeful is winning the money race.
Outside spending A screenshot of the top outside spenders in the 2016 cycle, found within Sunlight's Real-Time Campaign Finance tracker.Outside money is playing a larger role than ever before. That's why we've included an overview page that breaks down all outside spending by tone (positive or negative), by type of committee, by race and by party preference. Just want the list of top outside spenders? It's one click away. These pages are easy ways to get a bird's eye view of third-party groups like super PACs and dark money organizations.
You can also check our feed of up-to-the-minute independent expenditure filings to analyze the latest outside spending.
Super PACsBig super PACs are big players in today's political climate. Want a list of the ones that have poured the most money into this election cycle? We got you covered. This page takes a look at their role in greater detail, categorizing their spending by political preference. (This is an editorial judgment that we make here at Sunlight based on committees' spending patterns.) Simply click on a committee's name to get the details on its contributions, disbursements and independent expenditures.
Dark moneyDark money groups are entities — typically 501(c)(4)s, but sometimes corporations, LLCs or individuals — that haven't registered as political groups with the FEC because they do not consider politics to be their "primary purpose." As such, these groups aren't required to report their donors, but do report their independent expenditures. The information we have on them can be found here.
Real-time dataAs the name implies, our Real-Time Campaign Finance tracker is the most updated source of campaign finance information, so check back frequently to monitor the filings as they hit the FEC — you never know when you'll find that next story.
One disclaimer: We track Senate filings by summary — including the National Republican Senatorial Campaign and Democratic Senatorial Campaign Committee — but those dribble in pretty late, because, as readers of this blog know, senators and Senate candidates have thus far exempted themselves from the 21st century when it comes to filing campaign finance reports.
There you have it, a quick overview of Sunlight's Real-Time Campaign Finance tracker. We highly encourage you to dig deep into these data; if you're up for it, download the bulk files, too. So, when that next filing deadline rolls around, look to Sunlight's Real-Time Campaign Finance tracker for the latest campaign finance data.