Giving Money to Your Grandchildren
News from AARP News:

Let’s hear it for grandparents! Financial planners tell me that, increasingly, you’re stepping up to help your grandchildren, especially with higher education expenses.

“There’s more of this going on than in the past, because more of the parents are hurting financially,” says Westwood, N.J., planner Tom Orecchio. Also, “Grandparents have a soft spot for giving to grandkids,” says Columbus, Ohio, planner Gary Vawter, “all the more so if the parents need less.”

Consider tax breaks and your own budget when making financial gifts to grandchildren. — Getty Images

Before you start writing checks, however, be sure that you have enough saved for yourself — to get through a business downturn or cover the potential cost of long-term care. God forbid you should have to ask for the money back.

You risk spending too much by making fixed, future promises, such as “$ 5,000…………… continues on AARP News

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Balmy walk in Dubai reveals some key financial tips to take on board
News from The National:

Attention all superwomen. Sasha, Lucy and Abby are strolling down Dubai’s Jumeirah Beach Boulevard, enjoying the balmy breeze. “I think credit-card spending is a bit like Botox,” says Lucy. “Once you start, you just can’t stop.” The three girls laugh. “Well, have a baby and both are out of the picture pretty darn quick,” says Sasha, bouncing Oscar on her hip.

Hopes and dreams

“You know, I couldn’t wait to toast 2012 goodbye,” says Lucy. “This year is my year, the year I get my life in control.”

“Let me guess,” says Abby, “this time last year you thought the economy would be better by now, that you’d have landed that bonus, got a raise and, of course, fallen in love?”

Lucy and Sasha share a knowing, here-she-goes-again look. “How did you guess?” says Lucy, bracing herself for yet another financial lecture. Abby doesn’t respond, she just continues to stare out to the horizon, enjoying the sun on her skin. “Just like all my clients,” she thinks, “constantly living beyond her means, and destined to end up with nothing.”

Chances are your romantic financial notions didn’t come true in 2012. They sure didn’t for Lucy, but 2013 is a new year, so let’s learn from past mistakes and make an action plan.

It all adds up

Many of us have fallen into the trap of spending more than we earn, con…………… continues on The National

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