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Tips and tricks to teach your children about money

In 2004, the US Congress officially recognized April as National Financial Literacy Month as a way to improve knowledge and understanding of financial concepts such as budgeting, debt, saving and investing. These are crucial concepts to learn, however, there is very little formal financial education for our children. According to the Council for Economic Education, only a third of states require high school students to take a personal financial class in order to graduate. So it is no surprise that one in five 15-year-olds in the US lack basic financial literacy in 2017 according to the Program for International Student Assessment.

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3 Actionable Tips to get Financially Fit in 2018

As we near December 31st, many people are making their New Year's resolutions. I've never been a fan of resolutions, but last year my pants were getting tight in October and weren't helped by so many holiday treats. I made the decision to get in better shape. It was really more of a goal than a resolution but I digress. I bought a $20 Groupon to try out CKO Kickboxing for 6 classes and after my first class, I was totally hooked. I loved hitting the heavy bag and have been going twice a week ever since. In conjunction, I also focused on eating clean and enjoy having salad during most weekday lunches. I'm happy to report that after a year, my pants are no longer tight around the waist. The funny thing is that I've actually gained weight over last year but it is now muscle instead of fat. This year I'm tempted to write out more formal resolutions and goals to see what I can accomplish.

Since I write mainly about financial topics, today I will focus on 3 actionable tips to help you get financially fit in 2018. I know that many of you are worried that I'm going to go into budgets, planning, emergency funds, 401ks and other boring crap. But worry not, I won't mention any of these terms. I promise. Let's jump into the good stuff!

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3 year end tax tips spurred by tax reform

While most of us are busy with holiday parties, we don't want to be bogged down by more things to add to our to-do list. But today the GOP takes its next step in its rush to pass sweeping tax reform to give ‘great Christmas gifts' to the middle class (The bad news for us in the tri-state area (NY, NJ, CT), many of us are facing a potential tax increase thanks to the $10k cap on real estate or state and local tax deduction). It is therefore important for taxpayers, both personal and business, to be aware of the potential effect on their finances. Here are 3 actionable tips to take before year end to put you in a better position for the coming tax code changes.

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