Do you truly understand the difference between needs and wants? Unlike needs, wants are not absolutely necessary, but you should work both into your budget.

I turned her down, but decided to use this as an opportunity to help teach financial literacy. It was important for her to understand the why behind the decision and ways we might compromise.

When it comes to money, one of the most basic yet powerful lessons is understanding the difference between needs and wants. Needs are essentials—things you must have to live and function, like food, ...

My teen asked for a $28 phone case, even though the one she had was perfectly fine. I turned her down, but decided to use this as an opportunity to help teach financial literacy. It was important for ...