Finances for my kids

Last week I was all into the home maintenance and the week before that it was updating my blog. This week I'm into handling my financials (which translates into I haven't been writing much). I opened a Yodlee account to track my finances. Anyway, the following link is a list ot things to do to help your children have a healthy financial future. I am going to do No. 2 today and slowly but surely do the rest. Here are the first six tips:

As soon as they get their Social Security #, get them all kind of referral bonuses through banks such as ING, Sharebuilder, Virtual bank, etc etc

1. Open them an account at affinity bank 10% APY up to $500. That’s like making $50 a year.
   
2. Any money through gifts, set them up a savings account with at least 5% APY. my children never get monetary gifts. :(
   
3. Start a wealth trust fund for them by buying ETF’s or Index fund. Do not let them know til 18! Tell them to recycle this method once they have their own kids. This is how the wealthy stay wealthy. What is a ETF and/or index fund? Go here. I will have to do more research on this. It sounds scary.
   
4. Add your kids as an authorized user to your credit cards and home mortgage loan so they would build up their credit score. **do not let them know til they turn 18*..must you guess, they will have one hell of an apporama! This is a little scary. what does apporama mean?
   
5. When they get to 5 years old, set them up a 529 plan in their grandparents’ names. Why? Because if you do it in your name, it will count against you for Expected Family Contribution (EFC). what is a 529 plan? A 529 plan is a savings plan in the United States designed to give tax advantages to encourage saving for future higher education expenses. It is named after section 529 of the Internal Revenue Code. 529 plans are run by state boards or the organizations they delegate the administration of the plan to. ...en.wikipedia.org/wiki/529_plan Oh, Okay

So, fellow parents, let's get down to business. Hopefully, my daughter won't have a 54,000 student loan to pay off like me.

Weekly Report Card (6/25/2007)

I've been dieting for three weeks and I haven't lost any wieght. I'm thinking about registering for a marathon. I've heard that the training involved is a good way to help lose weight.

Weekly Report Card:
Exercise: Worked out Monday, Mowed Yard Tues. and Thursday. Average calories consumed 1400. Grade: C
Money: I still haven't did my budget but I did stay up until 2 AM (with heartburn) setting up a Yoddle Account. So I am on my way to being more responsible with money. C-
Children: I had a very active weekend with my kids. Friday we went to the waterpark, Saturday Maya swam, biked, and ran in a triathlon. I woke up super late but she was still able to participate. B I get a B because I really haven't had a good attitude all week.
Relationship: Broke up with Arkansas but... he's still calling and I'm passively acting like everything is okay. I say passively becuase i'm not calling him and I'm not telling him to stop calling me. C
Spirituality: I didn't go to church yesterday. I got dressed, cleaned up a little, and went back to sleep. Lord knows I need to stop back sliding. So emphasis for this week will be Spirturality! F
Goals and Me: I have been way off center. Some of it is due to the Arkansas breakup. I've been doubting my worth. Lord forgive me but a lot of regrets have been popping up in my head. Writing grade: F

Healthy Food Tip: canned tuna

I have discovered tuna. A 2.8 oz of Starkist Chunk Light Tuna has:

• 80 calories


• 1 gram of fat


• 1 gram of carb


• and 18 grams of protein!

While I am losing fat I want to make sure I have some muscle to show underneath. It has always been hard for me to do the 20% fat, 60% carb, and 20% protein. I hardly ever hit the protein requirement. Well, this tuna is a big helper and it is delicious on top of that. And my daughter likes it.

Celebrity Fit Club

I like watching Celebrity Fit Club. The women that are on the show today started out at my wieght pretty much. I know they are movie stars and have access to things that I do not but for the most part they have to lose wieght lke the everyday person. The show inspires me.

Some tips from Celebrity Fit Club on diet and nutrition (Dr. Katz)

• Look for 'partially hydrogenated oil' on the ingredient list, and if you see it, step away from the box, and nobody will get hurt
• Look for and try to avoid 'high fructose corn syrup'
• Look for and select at least 2 grams of fiber per 100 calories in all grain products (bread, cereal, chips, crackers, pasta)
• In each food category, choose the product with the shortest ingredient list