About the 2 Items in Warren Buffet's Wallet. Is he correct?

Have you ever wondered what’s in billionaire Warren Buffett’s wallet? 

I hadn’t. 
But yet…I clicked on an article that told me his 2 items.
 
However, the author of the article “buried the lead”. 
As it turns out, Mr. Buffett has habits which had me cheering wildly as I read them.

Here are just a couple of points about Mr. Buffett you might want to know.

  • He drives an “average” car.
  • He has lived in the same house for 60+ years, bought for $31,000.
  • 98% of the time he uses cash when purchasing items.

Wow. 

Burying The Lead

I was pleasantly surprised by what I learned.  No, driving a Ferrari or moving to a new home every 5 years isn’t wrong.  But “burying the lead” is that this billionaire lives semi-frugally when he could buy almost anything he wanted.

How Many Times Have You:

  • gone clothes shopping (shoe shopping, groceries, etc.) and didn’t remember what you needed?...
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Ask Your Teen This Question

First:  Full transparency here.  After you ask this question, you might not like the answer, but then again, you might love it.  After asking you will learn so much that you will be glad you asked.

Second: You can modify this question to cover an unlimited supply of topics.  You can re-purpose it at nearly any time you’d like.

Third: Few parents have probably ever asked this type of question before.  It’s rather simple in concept.

Fourth: Our teens (though this question can work at any age) are already “conditioned” to respond.

The question? 

“Honey, what grade would you give me on ___________?”

Our teens get grades every week day, and probably several times per day. They understand the concept of grades. They probably don’t like getting them, but it shows them where they are with respect their mastery of the topic involved.

Wouldn’t we parents like to know how we are doing on a particular...

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Take the Teen Summer Money Challenge !

Parents, are you looking for a way to teach your teen how to manage money and make the upcoming summer count while doing it?
Read On . . . 
 
Teen: “Can I have $20?”
Mom: “Honey, I gave you $20 just two days ago.”
Teen: “But, this, that, and the other thing” excuse.
Mom: “But what about that part-time job?
Mom (thinking to herself): I’ve got to get a handle on teaching him/her spending control and fast.

This conversation, with slight modifications, can be heard in households with teens everywhere.

And Summer is coming . . .

How can you use this to your advantage? (be sure to read all the way to the bottom for a mock-agreement you can adapt)

Do The Parent Mental Money Flip and Take The Challenge

Actually, summer can bring opportunity.  Perhaps they have a job. Perhaps they have an allowance for doing things around the house. Perhaps none of these applies and you have them do things around the house but choose...

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Graduating? Moving? Here's Decision Help

A Tale of Two Cities

It's no surprise that not all cities and their living costs are equal.  It then follows that salary offers and their buying power vary greatly by city.  

Sadly few of us moving to a new city stop and think about the wide swings in standards of living we might encounter.

New graduates contemplating two different cities in which to live don't consider this phenomenon either.  

The Critical Question?  
How much buying power does one job offer have over another?
Wouldn't it make sense to consider this very question before and during salary offers and negotiations? 

Do you want to avoid mistakes, create a leg up on negotiation tactics?  Then this article is tailor-made for you or your upcoming graduate.

Do you want to know what the cost of living is in any particular city?  Then this article is also for you.  

The cost of living varies GREATLY between cities.  
One mom of our students said:

"My child was so excited to be...

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Still waiting on "that" college to accept your teen? Here's a Plan B to deploy

The "accepted" phone call didn't happen.  The email didn't come. 
The "acceptance" letter didn't come.  The website portal didn't update.
 
Other seniors were getting acceptances.  
But at our house? 
Well, time marched on....at our house.
 
This scenario plays out - everywhere.  It played out at our house.  We've seen it play out at many a student's house.  What do you do as you impatiently wait?

 Consider a Plan B Idea

Each school and situation is different, of course.  Consider these ideas.  

Point A:  It Isn't Over.

If your teen is still waiting to hear, then the positive is that they are still waiting to hear. It isn't a NO, it's a not yet.  That's the good news.  Every school operates differently, and uses different parameters on how many offers to extend.  Just remember, your teen is in the "not yet" category until you hear differently.

Point B: Send another Recommendation...

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Does College Location Matter?

Short answer?  It might.   
Big City, USA or Small Town USA?

Are you planning campus visits soon?

There is so much coming at you and your nearly-gone teen that it can make anyone’s head swim.  It’s much better to swim instead of sink without enough information.  

There are, of course, many factors that go into which college to attend, from financial to “my best friend” is going there.  But allow us to introduce you to a twist in thinking that every parent/student should consider.

Flash Forward to College Graduation Day

Does your shiny new grad have options?  Did they have internships and were they able to network with those in their chosen industry while in college?  Is the local community of this college thriving?  How active and successful is this college’s College Placement Center? 

We know, this might seem strange.  You are dealing with just helping them get into college. But there's...

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Did your teen miss the Historic Presidential Moment? It isn't too late.

1st Historic Teachable Moment in 12 years

These moments don’t happen often, thank goodness.  Think back to 2006.  That’s the last presidential funeral we’ve had in the United States until now. (Reagan, 2004 and Nixon, 1994).

Do you remember when they would wheel in those carts with tv’s on them during school so we could see the moon landings, the rocket launches, and other historic moments?  We do. 

But perhaps your teen’s school didn’t or doesn't do this.  It isn't too late to capture the teachable moment for your teen.  

Did you know that . . . 

nearly every detail planned for a Presidential funeral is historical?

  • Who had the first 16 cannon salute?  President George Washington
  • The first president to die in office?  President Harrison, 1841

Want more interesting information?  Here’s a great link to explore with your teens:  Hat Tip:  www.theenchantedmanor.com

Presidential...

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The Resume Revolution

Telephones on our wrists. AirBnb.  Taxi vs. Uber vs. Lyft.   Movies played on nearly everything you own.  Turn your house off and on miles from home.

and. . .

Resumes. 

We grew up with paper resumes.   Those word-heavy depressing things.  Are they as effective these days?  No.  Paper resumes still have their place, but to stand out?  Go virtual.  You knew this addition/change was coming. 

How can our teens take advantage of “Virtual Resumes”?

First, let’s define what these are.  They use all the capabilities of the online world and the amazing graphic tools we have available to us these days.

The Virtual Resume is just that:  a visual overview of an applicant’s capabilities using charts, graphics, infographics, and even video. 

Collect Visual Resume Assets

These ideas can get you started

  • Video clips of school projects your teen is involved in
  • Photos of awards...
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What . . . my child might have a credit report ???

 SUMMARY 

Teen:  "Mom, can I have a credit card?"
Mom"No"
              OR
Teen: "Mom, can I have a credit card?"
Mom: "Yes"
 
What do these two answers have in common?
Either answer has the potential resulting in your child having a credit report in their name.
 
What's a credit report?  
Remember that diary that you may have kept growing up?  That's almost what a credit report is.  It's a "file" that holds all the information on your debt and payment history.  
 
How can they have a credit report on your teen?  
Possibly, here are 2 ways:
  • if you have added them as an "authorized user" on your own credit card, they might have a report in their name.  Some issuing companies report financial information for both the primary holder AND any authorized users.  You'll need to check with them.
  • or their identity may have been stolen resulting...
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