Worried about your college student and credit cards? Not sure how to sit your son or daughter down to explain how the cost of college is affecting the family’s overall financial picture?

Well, you’re certainly not alone, which is why The University of Minnesota Parent Program, University of Minnesota Extension Service (which has lots of good financial resources on its site, btw) and the Department of Family Social Science partnered to create an online seminar for parents about college finance. 

“If parents are well informed, they can help their children make thoughtful and responsible decisions when it comes to managing their finances,” said Jodi Dworkin, associate professor and extension specialist in the department of family social science at the U of M. Dworkin co-authored the seminar with Marjorie Savage, director of the University of Minnesota Parent Program, who wrote the book “You’re On Your Own (But I’m Here If You Need Me) Mentoring Your Child During the College Years.”

It’s definitely worth a look if you’d like to learn more about how to communicate with your child about money, are concerned about whether you’ll be able to identify problem gambling or overspending, or you just want to make you’ve covered your bases when having money talks with Junior.

And if you’re a parent with advice to share, comment below.

Have no idea what to get your lover for Valentine’s Day? Forget the chocolate, roses and champagne, says new research discussed on Science Friday about how experiences bring more happiness than things.

Valentine’s Day also brings out the surveys and tips on love and money. Here are some of the gems.

“People tend to marry their financial opposites,” according to a press release for an article in Success Magazine. Readers, do you find this is true? In my own marriage, we are opposite when it comes to who’s good at paying bills, saving money using coupons/shopping sales, but our financial values are the same and that’s what matters most, I think.

According to the LIFE Foundation, an insurance awareness non-profit made up of insurance industry types, found seven in ten couples would trade V-Day celebrating die financial peace of mind.
Well, yeah, if our finances are in order, we could buy our sweetheart a gift some other day of the year, right? The Foundation is suggesting a practical way to show your love is (drumroll please)…buy insurance!

The third annual PayPal survey revealed that the recession is changing the dynamics of some couples’ financial relationship. More than 40 percent of U.S. couples say that the recession is causing them to argue more about moolah. And about a quarter of couples have been hiding purchases from their S.O. this year. Tsk, tsk. That is a recipe for long term trouble, in my opinion.

Those of you in a relationship, share your tried and true tips for money bliss? What is it that makes your relationship work?

There are plenty of reasons to partner up — companionship….support….retirement security?

Apparently, according to a recent Thrivent survey.

Married individuals are:
• Eight percentage points more likely to be optimistic about their personal financial well-being, 62 percent vs. 54 percent, as compared to single individuals. Ten percentage points more likely to be confident that they have the proper financial strategy in place to survive economic swings, 41 percent vs. 31 percent.
• Ten percentage points less likely to be somewhat or very doubtful that their nest egg will last through retirement, 55 percent vs. 65 percent.
• Five percentage points less likely to cut back on their giving to charity due to market worries, 32 percent vs. 37 percent.
• Four percentage points less likely to lose sleep over market worries, 11 percent vs. 15 percent.

Why? For one, joint income, which significantly raises median household income. on average. But also financial support and having another person to run your financial plans by before you sell all of your equities at the bottom, for example, or enter into an interest-only mortgage.

However, being married means you also have someone to argue with about how the family allocates its resources. Money is a leading cause of marital strife and of divorce. It’s no secret that kids are expensive. Marrieds with kids are more likely to file for bankruptcy than their childless counterparts.

So, Kablog readers, here’s your chance to vent anonymously about your S.O.

In your own relationship, do you think being married is a financial benefit or a liability? If you’re single, do you think you’d be better off with a mate?

There’s a story circulating out on the web about how more couples are waiting to have kids due to the poor economy.

According to the story:

As the financial crisis reverberates through Wall Street, Washington and beyond, it is taking a personal toll on couples who are making the painful decision to postpone starting — or growing — their families. Once hopeful about their ability to provide for children, prospective parents are now filled with gnawing doubts as jobs vanish, retirement savings dwindle and housing prices fall — even as the cost of having and raising a child rises.

Historically, economic downturns tend to reduce the number of children born in the U.S.  In fact, the story said the post-war fertility rate low of 1.7 was in 1976 — my birth year. Maybe that has something to do with my utter disregard for economic events when it comes to childbearing.

Then again, I became pregnant with my third kid long before the stock market took its nosedive, before the first major bank failure and before the bailout bill. I had figured we were probably in a recession. And it was no secret that my job is insecure given my trade.

Honestly, I doubt the official declaration of a recession, or even a job loss would have changed my mind to have a third kid. I’ve never been one of those “wait to have kids until I’m ready” kind of people.

When does “ready” happen, exactly? A person can lose a job at any time. Financial curve balls can be thrown during the best of times. That’s why you plan and live within your means.

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It was my husband’s birthday yesterday. He was born in 1974, at a time when the country was experiencing steep job losses. Apparently, job losses this November were the highest they’ve been since he entered this world. More than 600,000 jobs were lost according to the official number. And that doesn’t count everyone without jobs, including those who gave up the hunt long ago.

Never in my life have I worried about losing and finding a job until this year. At my first work holiday part in 1998, I remember some co-workers swapping tales about the horrible job market of the early 90’s and thinking to myself, “‘Hmmm…that’s so interesting that I’ve got to get back to the open bar.’”

This year, I’m wondering if anyone will mind if I stuff treats from the holiday dessert buffet in my purse? (more…)