Make cents of your Dollars ~
Where did your last check go? If you're like me, you can probably pull up software like Quicken or Moneydance and print a report of all the items you spent your last paycheck on. You can accurately report where it went but can you confidently report that it went where it should have?
As a parent, I've come to the realization-- our children are making the same financial mistakes we've made and they're doing it earlier than we did. Time is on their side, but it won't help them unless they learn some fundamental money skills.
This site is intended to provide a simple formula and a few tools to help you or your child master money basics.
~The formula~
10% - Donate 10% of your income to charity. Altruism will remind you that the important things in life aren't things. 20% - Save 20% of your income as short-term savings. Such things as furniture, a new car, a new shirt or video game, season ski pass, etc. 20% - Save 20% of your income as long-term savings. Marriage, a home, college, retirement, financial reserve, etc. 50% - Live off the remaining 50%. This includes living expenses, transportation, clothes, taxes, etc.
The key to financial success is not just knowing where your money went, but knowing it went where you intended.