There's never been a better time to talk to your kids about money. Before the summer comes to an end and your children gear up to return to school, take time to share some financial insight. The best financial lessons are part of everyday experiences. Look for opportunities to talk about money, read books aloud and play games that center around spending money wisely. Be open and honest when you discuss your financial experiences -- good or bad. Here are some examples of teachable moments to help you get started:
Internet "phishing" scams are one of the fastest-growing frauds today. Phishing expeditions can range from an elaborate website with fake graphics and logos to a simple text email offering a great mortgage rate. Both are designed for one purpose: to collect email recipients' personal financial details, such as credit card numbers, bank account usernames and passwords.
Many factors go into making a business a success, but one of the most challenging areas -- particularly for young entrepreneurs -- is financial management. Whether it's securing capital, separating personal finances from business finances or managing cash-flow, there are a number of pitfalls that lay in the way of even the most prepared entrepreneur. Here are some tips from the U.S. Small Business Administration (SBA) for avoiding the most common financial mistakes that young entrepreneurs make.
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