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Posts Tagged ‘will’

How to Protect Your Children: 10 Things to Know About Will vs Estate Planning

No one likes to think about their own mortality. However, once you have children who depend on you, it becomes essential. If something happens to you, what will happen to them? How do you make sure they are protected and financially provided for? I was recently asked about wills during a weekly Ask Me Anything…

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Meet Meghan, the Family Finance Mom

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Instagram post 18092088787189361 The last week has left me hugging my family a lot tighter. My childhood friend lost her 7 yo son, my college roommate lost her uncle, and yesterday's tragedy, splashed across every major news outlet, left families without fathers, husbands, and daughters. All taken from this world far too soon.⁣ *⁣ We don't often like to talk about it, but the only true inevitability in this life is that someday, we won't be in it anymore. And once you have kids, who depend on you not only for love and care, but also financial means, it's essential that you plan for it. No amount of money, zeal for life, energy or passion will protect you from life's inevitable end. Make sure you and your family are protected, no matter when it comes.⁣ *⁣ Last year, I held a Q&A with estate planning attorney, Crista Hermance @estateplanningmom to ask all your will and estate planning questions. You can watch the full replay of our interview or read the summary at the direct link in my bio.⁣ ⁣ ⁣ #ripkobe #raisingmytribe #momofthree #momof3 #lifewithdaughters #raisingboys #thebigkidyears #familyof5 #partyof5 #estateplanning #estateplan #estateplanningmom #personalfinance #personalfinanceforwomen #personalfinances #personalfinanceblog #familyfinance #familyfinances #finances #financeblogger #financialplanning #financialplan #dfc #debtfreecommunity #debtfree #debtfreeliving #savemoneylivebetter #savemore #lifeistooshort #familyfinancemom
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Instagram post 17859192145708076 My first year working on Wall Street, I was working on an M&A deal for a large, public company selling off pieces of itself... the financial news reported about it constantly, and 90%+ of what they wrote was completely untrue.⁣ *⁣ It was an earth shattering moment for me - as a 22 year old kid, I had never thought to question what I read in print, especially not from reputable publications. But here I was in the center of it, with full inside information, and the big news papers' reporters were writing on tips from anonymous sources and who knows what else - and I knew it wasn't true. My eyes were forever opened.⁣ *⁣ Now, in a world where more people get their news from social media than print newspapers (and where it is the dominant source for those under 30)*, and where fewer Americans are able to discern fact from opinion, particularly when the opinion favors their own biases*, I carry this mantra in the back of my mind whenever I read anything.⁣ *⁣ Before you hear me as just screaming "Fake News"... instead, whenever you read anything:⁣ 🐷Consider the source and its potential biases⁣ 🐷Look for original source information (press releases, scientific studies, poll results and methods, video evidence, first person accounts)⁣ 🐷Understand whether it is FACT or OPINION⁣ And after all of the above, make an informed decision for yourself before takiing action... because, as an example, if you had believed economists at the end of 2018, you would have taken all your money out of the market and lost out on a great year in 2019.⁣ * 𝘚𝘰𝘶𝘳𝘤𝘦: 𝘗𝘦𝘸 𝘙𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘊𝘦𝘯𝘵𝘦𝘳
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Instagram post 17933466304343799 With all the allergy excitement that happened 2 weeks ago, the most exciting GOOD news that happened that day got completely skipped over...⁣ *⁣ My 8 year old’s art teacher selected her piece for the town Art Show. A local framer framed all the pieces selected, and today he called to say it was ready for pick up!⁣ *⁣ Need some affordable wall decor? She made this at school with black construction paper, @elmersproducts glue, and oil pastels. She calls is “Alaskan Spring” 🏞⁣ *⁣ We also had our first of 3 visits to the allergist today for complete testing. For those following my journey as a new #allergymom, you can get the update in my stories today, including how to get 2 packs of epinephrine injectors at no cost! 💕⁣ ⁣ *⁣ *⁣ *⁣ *⁣ *
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Instagram post 18034945381245373 There are lots of new Family Finance Moms around here - so just wanted to give everyone the lowdown on #FFMBookClub.⁣ *⁣ Because financial literacy is so important, and one of the best way to build your financial knowledge is through reading, last year, we started the Family Finance Mom Book Club. We read one book every quarter, and discuss it the last month of the quarter.⁣ *⁣ We are currently reading #EverydayMillionaires by @chrishogan360. You can join our book club discussions by simply following #FFMBookClub. Learn more about how it works, see all our past book club picks and submit your book recommendations for future club picks at the direct link in my bio.⁣ *⁣ Happy reading! 💕📖⁣ ⁣ ⁣ #bookclub #womenwhoread #readersofinsta #booklist #bookrecommendation #readingclub #financialeducation #financialliteracy #selfeducation #selfeducate #jimrohn #jimrohnquotes #debtfreecommunity #debtfree #debtfreeliving #debtfreedom #dfc #womenandmoney #womeninspiringwomen #womenhelpingwomen #womeninfinance #personalfinance #personalfinanceforwomen #familyfinance #familyfinances #ffmquotes #familyfinancemom
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Instagram post 17864963050621840 Do you shop around to get the best deal before you buy something? How expensive does something have to be before you consider it worth it to do so?⁣ *⁣ We are in the market for a "big boy bed" for this not so little guy. Despite the fact that he is nearly as tall as his sister's were at the age of 6, he is still in a toddler bed 🙈... mostly because we were using it as a carrot to motivate him to 💩in the potty.⁣ *⁣ He's accomplished his goal - and now we have to deliver. He's got a coupon for a bed from Santa he is dying to cash in. I still get sticker shock when I shop for furniture - especially for kids' stuff. He is so much more destructive than his sister's, that we are hesitant to spend a lot but also want durability to stand up to his energy.⁣ *⁣ I scoped out @ikea, @jordansfurniture and @ashleyfurniturehomestores - and it all seems expensive, but leaning towards the #Ikea Hemnes Daybed. Any recommendations on mattresses for kids? At this point, I'm willing to pay if it means he will stop waking up 2-3x a night!
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Instagram post 17929621555351271 Today we honor Martin Luther King, Jr.⁣ *⁣ My 6 year old came home on Friday quoting his famous "I have a dream" speech. The parts most people remember are the end - his dreams for his children's future, "to live in a nation where they will not be judged by the color of their skin but by the content of their character."⁣ *⁣ I'm ashamed to say before yesterday, I had never read the speech in its entirety. It is incredible to me how many of his words sadly still ring as true today as they did nearly 60 years ago. No surprise, his words on economic opportunity rang most loudly in my ears. And while he spoke out on behalf of people of color, today they hold true for them, as well as people of all different minority groups, genders, education and income levels. ⁣ *⁣ But it doesn't have to be. I believe economic equality is available to all willing to work hard and achieve it. The goal of @familyfinancemom is to challenge, educate, inform and improve the financial education and literacy of women and families everywhere to make that possible.⁣ *⁣ Have you ever read his whole speech? What's your favorite line?
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Instagram post 17850681985839706 Team work makes the dream work around here.⁣ *⁣ I quickly found the easiest way to keep three kids from making a mess faster than I can clean it up? Involve them in the clean up. My 4 yo actually jumps at a chance to run the vacuum!⁣ *⁣ A study run by Harvard for more than 75 years has identified two things people need to be happy and successful in life:⁣ ❤ Love⁣ 👩🏻‍🏭 Work Ethic⁣ And the consensus for the best way to teach kids work ethic? Letting them pitch in alongside you around the house!⁣ *⁣ Do your kids have chores in your house? Last summer, we also started allowance with my older two - I’m working on a blog post about how it’s working and how we do it in our home. What questions or experiences do you have about allowances for kids?⁣ *⁣ *⁣ *⁣ *⁣ *⁣ #allowance #chores #choresforkids #preschooler #thebigkidyears #kidsandmoney #kidsmoney #kidsfinancialliteracy #financialliteracy #financialeducation #financialliteracyforkids #finlit #dfc #debtfree #debtfreecommunity #debtfreeliving #moneymindset #financialfreedom #raisingmytribe #momofthree #honestmothering #simplymotherhood #financialindependence #generationalwealth #familyfinance #familyfinances #personalfinance #homeeconomist #resetmyspace #familyfinancemom
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Instagram post 17901955666419377 We talk a lot about planning around here... meal plans to save on groceries. Budgets - which are essentially a plan for your money every month. And the first time I talked about meal plans in my stories, one of you messaged me to say you thought everyone who meal planned was making pot roast and dessert every night - not my 'fancy' mac and cheese and chicken nuggets 😘⁣ *⁣ I don't want any of you to make this mistake - as a financial analyst, we used to call it "paralysis by analysis" - where you delay doing ANYTHING because you over think it or are afraid of doing it right or not getting it perfect.⁣ *⁣ This is me giving you permission to just get it started. In whatever shape, form, notebook, scrap of paper you've got. A plan, whether for your meals for the week, your trip to the grocery store, your budget for the month, your future savings goals, for anything, is literally as simple as just giving it some thought ahead of actually taking action, and writing it down.⁣ *⁣ That's it! What does your planning look like? (And if you'd like a template for your meal plan, you can find one at the link in my bio!)
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Instagram post 17993024053287521 How often do you make it out with your girlfriends? Is your budget an obstacle? Meet my Girls Night IN kit...⁣ *⁣ A few years back, my mom friends and I decided we could save a lot of money (and not get kicked out of the restaurant at 10pm), by taking turns hosting each other in our homes.⁣ *⁣ We wait until kids go to bed, we each bring a snack and our beverage of choice. Sometimes we play party games, but mostly we just vent, support each other, and share our motherhood and marriage struggles and wins.⁣ *⁣ Our group text is affectionately named Mommy Mafia (and I scored the custom wine tumbler in our white elephant exchange last month). But everyone needs a group like this in your life... and don’t let money be an obstacle to moral support and friendship.⁣ *⁣ It costs me about $20 for a bottle of wine and a snack to share every time we get together... because it’s not about where we go or what we do - it’s about who we’re with 💕⁣ *⁣ So, who are you inviting to Girls’ Night In?⁣ ⁣ #girlsnightin #momsnight #momsnightout #momsnightin #momsnightoff #momfriends #momfriendsarethebestfriends #spendless #moneysavingtips #savemore #savemoneylivebetter #savingmoney #dfc #debtfree #debtfreeliving #debtfreedom #personalfinance #familyfinances #familyfinance #financialfreedom #livingonabudget #womenandmoney #womeninfinance #moneyblogger #financeblogger #personalfinances #frugalmom #ohheymama #honestmom #familyfinancemom
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Instagram post 17892435163450350 I've said it here before, and I'll say it again... time is money. And while you can side hustle and work hard to make more money, you can't make more hours in a day.⁣ *⁣ We all get the same 24 hours - and it's up to you how you use them. Last year, I finaly had all 3 kids in school at least part time... I felt like I'd reached the holy grail of motherhood and I'd finally have time to get all the things done.⁣ *⁣ Instead, I found myself accomplishing less than ever, as I lost my sacred nap time productivity block and found my time sucked into chauffering kids between schools and activities, and squeezing errands in when I could.⁣ *⁣ My system of a kitchen white board calendar and a paper planner were no longer cutting it. Then, last summer, I found @artfulagenda. Learn more about how I use it to create my weekly block schedule to maximize my days and make it all happen at the link in my bio!⁣ ⁣ #artfulagenda #organizedlife #stayorganized #organizedhome #organizeme #getorganized #digitalplanner #digitalplanning #momlifehacks #raisingmytribe #stayathomemom #busymama #momhack #timeismoney #timefreedom #financialfreedom ⁣ #personalfinance #debtfree #dfc #debtfreeliving #workfromhomemom #womenandmoney #womeninfinance #womeninspiringwomen #familyfinances #financialgoals #financialeducation #financialliteracy #ffmquotes #familyfinancemom
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Instagram post 17850625798808067 I promise to return to regularly scheduled programming around here, but just wanted to thank all of you for your love, support, prayers and most especially your knowledge over the last few days as I navigate my new role as #allergymom. I've gotten so many invaluable tips and thanks for sharing our very scary anaphylactic reaction story from last week in my stories - I've made it a highlight, along with all your tips and suggestions, so you can share it and any fellow new #allergymoms can learn from it too. * I also wanted to address 2 of the most common questions I've been asked: 💉𝗖𝗮𝗻 𝘄𝗲 𝗷𝘂𝘀𝘁 𝗴𝗲𝘁 𝗮𝗻 𝗲𝗽𝗶 𝗽𝗲𝗻 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗷𝘂𝘀𝘁 𝗶𝗻 𝗰𝗮𝘀𝗲? Unfortunately, you have to be prescribed an epi pen - and you likely won't be unless you have exhibited symptoms of a life threatening reaction. They are also very expensive ($350 before insurance). Recently, there have been shortages, but new generics and alternatives (Auvi-Q) are making this life-saving medication available more affordably to all who need it. 💉𝗦𝗵𝗼𝘂𝗹𝗱 𝗜 𝘁𝗲𝘀𝘁 𝗺𝘆 𝗸𝗶𝗱𝘀 𝗳𝗼𝗿 𝗮𝗹𝗹𝗲𝗿𝗴𝗶𝗲𝘀 𝗷𝘂𝘀𝘁 𝘁𝗼 𝗯𝗲 𝘀𝗮𝗳𝗲? I am quickly learning the world of allergies and allergy testing is somewhat an evolving and imperfect science. An allergic reaction is actually an immune response - in the case of food allergies, your body reacts to a protein as though it were a virus needing to be attacked. You often don't have a reaction the first time you are exposed - but once your immune system sees that food for the first time, it then develops antibodies against it, and the next time you eat it, attacks - hence the allergic reaction. Until your blood carries those antibodies, you are likely to get a false negative. Because of this, doctors are unlikely to test you for allergens until you demonstrate symptoms. However, if your child has had immediate reactions - hives, rash, swollen lips, itchy mouth, or even latent ones, like eczema - you should absolutely raise it with your doctor. * We are learning more everyday, because with knowledge comes power and less to fear and be anxious about.
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Instagram post 17860863307632121 Remember when you were a kid, and you really wanted something, but your parents wouldn’t buy it for you?⁣ *⁣ You’d shake all the money out of your piggy bank and count up all your change to see if you could afford it for yourself.⁣ *⁣ Guess what? You can do the same thing as an adult - your piggy bank just looks a little different. Instead, it’s called a budget. You use it to tell your money where to go, and track where it’s going. When you don't have enough or need to make room for something, you gotta shake things up a bit.⁣ *⁣ Want to be able to afford something? Shake that piggy bank - where can you cut back or eliminate spending to find money for it?⁣ *⁣ I’m working really hard to release my Busy Moms Budgeting workbook by the end of this month. If you’d like to be the first to know when it comes out, be sure to sign up for my newsletter at the direct link in my bio 👉⁣ @familyfinancemom ⁣ *⁣ Also, if you never had to buy anything for yourself as a kid - you missed out on a valuable learning experience. Make sure you let your kids have it 🐖
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Instagram post 17911671775385055 Last weekend, y’all weighed in and chose the #FFMBookClub for Q1 2020: #EverydayMillionaires by @chrishogan360. * It is the culmination of the largest study of millionaires in the US ever conducted, telling real life stories of millionaires, along with the summary statistics about millionaires as a whole... millionaires don’t necessarily make more than the rest of us, nor did most inherit their wealth. They do however 🐷 Think differently 🐷 Believe they control their destiny 🐷 Spend less 🐷 And no surprise, save more! * And since I purchased my copy directly from @daveramsey, I got a copy of all the survey data too, and will be sharing insights from it during our discussion in March! * As a reminder, you can find all our book club posts by following #FFMBookClub. We read one book every 3 months, so you have til March to finish this one before we start talking about it! Plenty of time to get on that library waitlist too 😘 * Happy reading! 💕📖
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Instagram post 18050871697203031 Routine can be a double-edged sword... it can be your best friend when it comes to saving money if it includes things like meal planning, packing your lunch, and taking your cofee to go every morning.⁣ *⁣ But it can also be your financial enemy if spending money becomes so engrained in your routine that you don't even think about it anymore. I was reminded of how expensive my routine used to be this week. Dunkin sent me a beverage for my birthday on the Dunkin app... the same app that first woke me up to just how much I was spending on coffee every week.⁣ *⁣ When my oldest started kindergarten, I would drive her, and then had 30 minutes to kill before dropping her sister at preschool. Perfect time to take a trip through the Dunkin drive thru... I got the app to pay with my phone and collect rewards points. And suddenly, the $2 and change charge daily I was pretty much ignoring before, was now a $50 app recharge - and the frequency with which it was happening was a HUGE wake up call!⁣ *⁣ So, take a step back. Mentally walk through your daily and weekly routines - where has spending become so automated you've been blinded to the real cost overtime? This morning, I cashed in on my birthday coffee... see my stories for how my coffee at home is saving me more than just money.
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Instagram post 17852150212771833 I finally did make it to @Costco last week, after my first attempt arriving with no wallet or membership card in my post-holiday haze.⁣ *⁣ I ended up $10 over budget this trip - I was trying out some new things you all recommended as your favorites (like salmon burgers!)... and I'm also leaning more and more towards ditching paper plates. They are now almost $20 - not to mention the poistive impact it would make on the environment.⁣ *⁣ I've also tallied up ALL your Costco favorites you sent me before the holidays (more than 300 recommendations) to determine your best buys at Costco. You can catch the list of the 10 best buys at the link in my bio. Don't miss the details on why we upgrade to Executive Membership, and how we make it pay for itself every year!⁣ *⁣ The top favorite? It was recommended far and away more than any other item or even whole categories of items... can you guess what it was???
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