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Economic security is essential for children to grow up in a stable environment. Fathers have a financial responsibility to their children, regardless of their relationship or living arrangement. Financial education fosters financial stability for individuals, families, and entire communities. The more that you know about credit and banking services, the more likely you will increase your savings, buy a home, and improve your financial health and well-being. No matter your current income, there are always ways to save money and improve your financial situation through training and career growth. Plus, smart spending and saving habits are great to pass down to your kids! There are many resources available to help dads like you find employment and improve your economic stability.
Tips & Best Practices
- Research jobs and training. Are you in the market for a new job or want to build your skills? These resources from the Department of Labor can point you in the right direction.
- Improve credit. You need credit to take out a loan, get approved for a credit card, and many other important life milestones. Take steps to improve your credit by learning the factors that go into a credit score and avoiding scams.
- Make personal finance education fun.Through creative and interesting activities like these provided by Sesame Street, you can help your kids learn about spending, sharing, and saving. These are all good habits that will help them make smart financial decisions.
- Use free tax preparation services. The IRS Volunteer Income Tax Assistance (VITA) program offers free tax help for taxpayers who qualify across the U.S.. The VITA Program generally offers free tax help to people who make $50,000 or less and need help in preparing their tax returns.
NRFC Resources
Fatherhood can be expensive. Back to school is traditionally one of those times when families can see a large amount of cash going out. That is why smart dads are always looking for opportunities to save and make the family dollar go further. This resource provides seven ways that dads can make sure they get the most for their dollar while gearing up to send their kids back to school.
FAQS
What are some services available to help me look for employment?
U.S. Department of Labor American Job Centers provide free assistance with job search, career exploration, and pursuing vocational training.
What should I do if I become unemployed?
There are steps to take including contacting your local Department of Labor unemployment office, budgeting, and looking for work. While it’s a stressful period, it’s also important to get your finances in order and save wherever possible during your job search.
How should I speak with children about finances?
It’s ok to speak to children about money and helps them better understand financial decision-making. This age specific guide to money talks explains how to set rules, encourage smart choices, and act as a role model.
