Financial How Tos

The IRS has established www.irs.gov/coronavirus to provide information specifically related to the pandemic. News releases, statements, and guidance will be collected there. The initial statement concerned health savings accounts and high-deductible health plans. “Health plans that otherwise qualify as HDHPs will not lose that status merely because they cover the cost of testing for or treatment of COVID-19 before plan deductibles have been met.”

Trusts are not as mysterious as most people seem to think, and technological advances have made trust-based financial planning accessible to more and more families. That’s one reason why discussions of trusts seem to be popping up in the popular press more and more.

“This time it’s different.” That’s a phrase we usually associate with market tops. Just before the internet investment bubble burst, for example, we heard rosy economic forecasts and excellent rationalizations for inflated stock values. As we know, markets will right themselves; bubbles will burst. 

They understand GPAs and test scores but how can we help them better understand their credit score or the value of saving? The ABA’s top 10 tips are designed to give students an edge on mastering personal finance.

Anytime is the right time to begin teaching children about money, and the American Bankers Association has tips that can help parents teach money at home.

How soon is too soon to talk to your kids or grandkids about money? If they are old enough to ask for a toy or a bike, they are old enough to start learning financial lessons that will last a lifetime.