Kim Borwick

Calhoun County, AL – It’s never too early to begin teaching your kids about money. But doing so is not as straightforward as you might assume. Some parents don’t feel confident enough in their own knowledge of financial matters to be comfortable teaching their kids about money. Others believe it’s inappropriate to burden young children with conversations about money or think, mistakenly, that children are too young to understand financial concepts.

Credit is an inescapable part of personal finance for most Americans, but many people learn at an early age just how easy it is to make credit mistakes — and how detrimental those mistakes can be. Broadly speaking, credit is the provision of money, goods, or services by one party to another, with the expectation of future repayment plus interest. There are various forms of credit and a myriad of underlying terms and conditions among them. For many people, consumer credit is most familiar.

A 401(k) plan is a retirement savings vehicle sponsored by a U.S. company for its employees. Since its advent in 1978, this type of plan has grown increasingly prevalent, largely due to the profound impact it can have on an employee’s ability to save for retirement. The 401(k) offers savers two powerful benefits — tax deductibility on annual contributions and tax deferred growth on the accumulation of invested funds.