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Jon Gosselin Took $200,000 from Account Without Telling Kate
Yikes – if it wasn’t bad enough to cheat on his wife, Jon Gosselin now took $200,000 from their joint bank account – and didn’t tell her. She found out when she received overdraft notices. He reportedly left only $1000 in the account! Celebrity lawyer Marty Singer, litigation attorney for Kate Gosselin, tells PEOPLE that the court had told the estranged couple to not take significant amounts from the joint accounts without approval. Hmm… think $200,000 counts as significant?
How to Teach Kids About Checking Accounts
Money education is an important and sometimes overlooked lesson that parents forget to share with their kids. It is important for kids to learn how to budget the money they have available to them and how to balance a checkbook. When kids see mom and dad pull out credit or debit cards, they may not realize that there is more to managing money and a checking account than just swiping a card. Any money management lesson also gives you a chance to spend time with your kids, and to gauge their basic math skills.
Building a Savings Accounts
Experts say that individuals should have a year’s worth of living expenses stuffed into their savings account in case of an emergency. It’s hard to imagine saving just a few months’ worth of pay–much less an entire year’s worth. However, there are some easy methods you can use to build a savings account that will continually draw interest and will be there in case of an emergency.
Starting a Children’s Saving Account
Opening a savings account is a wonderful way to teach your child about money and setting goals. By starting an account at an early age, a child learns how numbers relate to dollars and cents and can begin to understand the value of a dollar. By making savings accounts part of your children’s lives when they are young you will be helping them learn one of life’s most basic skills: how to manage their money.
How Does a Teenager Open a Bank Account?
Landing his first job is the perfect time for a teenager to also land his first bank account. While visiting a bank for the first time as a customer may seem intimidating for a teen, knowing the requirements and process will give him a boost of confidence and perhaps their first glimpse into the responsibilities of adulthood. Learning to manage money as a teenager will give your child a head start when it comes to building life skills.