Snowbirds to the Rescue!

Snowbirds, repeat seasonal visitors who stay longer than the average Florida tourist, are coming to the rescue of South Florida businesses. These northerners travel from Canada and New England to escape the cold and enjoy the Florida winters. Thankfully, they bring their pocketbooks with them, bringing a much needed boost to Florida's economy.

Florida tourism has been on the decline in recent years, as the economy and businesses are hit hard by the recession. But snowbirds seem to have escaped the recession (partially thanks to the Canadian dollar) and are flocking to Florida at about 90% of their usual rate. These weekly to monthly visitors provide much needed business to local restaurants and businesses afflicted by high unemployment.

How to Set Your Children Up for Financial Success

All parents want the best for their children, but often the financial responsibility we learn from our parents is anything but responsible. One of the most important lessons a parent can teach a young adult is how to spend and save responsibly. Here are a few key ideas to discuss with your child to set him or her up for financial independence in the future:

• Explain the need for budgeting and how to create a working budget.
  
• Explain income taxes and how 401ks and IRAs can help you save on taxes, while saving for the future.
  
• Teach your child how to manage credit cards and avoid debt.
• Stress the importance of filing important documents in an organized manner.