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I'm prone to kidney stones, and I'm very conscious of the ongoing risk of COVID-19. There are also a few other reasons why I'm investing in travel insurance this summer. Some travel insurance plans cover travel delays, which will guarantee the funds from my canceled flights will go back into my bank account. Not all countries accept US health insurance, so travel insurance will give me the flexibility to get the health support I need without additional costs. Travel insurance gives me the confidence to book a trip, even if I might have to cancel it at the last minute.

Instead, he made the choice to work for three more years to add to his retirement savings. Later, his company gave him the option to switch his retirement savings to a 401(k) account. His attention to detail made him more aware of his retirement savings and careful about spending it. He says his approach to retirement is a delicate balancing act between inflation, interest rates, and savings. He's been reviewing the monthly changes in inflation rates and the consumer price index.

I was able to negotiate a rate I was very happy with by talking to my bank's financial advisor. Personal Finance Insider's monthly roundup of the best CD rates was a helpful tool to track average percentages and compare rates and terms. I learned that timely communication is a key strategy when negotiating terms on any financial account. I observe CD rates to see if I notice trends. I feel more confident managing my money and taking an active role in helping my savings grow.

Technology and entertainmentYou can also give your child's teacher a gift card they can use for entertainment. If your child's teacher already has one of these subscriptions, they can put the gift card toward their account balance. A gift card to Ticketmaster will give your child's teacher the opportunity to put money toward a live show of their choice. Gift cards from merchants like Audible or Bookshop.org will give your child's teacher an engaging way to pass their commute. Gift cards from educational retailers like Lakeshore and Teachers Pay Teachers will help your child's teacher offset classroom costs.

Through trial and error, I learned to keep track of my spending and gained valuable experience with money. I still use these lessons today to monitor my spending, keep a budget, and compare prices for the best deals. A $5 bill gave me practical experience with money every dayI used problem-solving skills to make sure my sister and I had enough money for food and beverages without going over our budget. When we asked our mom for more money, she reminded us to use our money more thoughtfully next time. My mother's lessons continue to help me be an informed consumerMy mother's lessons with the $5 bill remain with me today.

That year, my father made another $900 in interest, and learned the value of saving money. At the end of the summer, my dad discovered he had made $2,000 in salary and tips. My great-grandmother helped my father see the value of savingMy great-grandmother immigrated to New York from Italy as a child. These lessons remain with my father today as he continues to saveWhile CD rates vary over time, the lesson to value saving over spending stuck with my father. My great-grandmother imparted the lesson that just because you have the money to buy something, doesn't mean you have to buy it.

Welcome to Personal Finance Insider, a biweekly newsletter that connects you with the stories, strategies, and tips you need to be better with money. Ditto her regular savings account. It's a good investment, to be sure, but it's not exactly fulfilling my urges as a Personal Finance Person®. Instead of giving physical birthday and Christmas gifts, Cappolla's uncle had been putting small sums — $25 to $100 — into a savings account. If you've never read an issue of Personal Finance Insider's For Love & Money column, last week's is a good place to start.

☆ I never understood why my uncle didn't give me birthday presents until he handed me $6,000 after college that he'd been tucking away for years
▼ + stars: | 2022-10-17 | by ( Danielle Cappolla | Read More | Read Less | ) www.businessinsider.com time to read: +5 min

Instead, he put a small sum of money in a savings account. When I was older, he told me, he would give me access to the money saved there. For each birthday and holiday, my uncle put a sum of money in the bank, somewhere between $25 and $100. It can be easy to talk myself out of putting such a small sum in savings at all. However, now that I understand how small savings can yield big results over time, I can thoughtfully plan to grow that down payment.

☆ I was obsessed with Barbie growing up so my dad helped me invest in Mattel, and I'm still building wealth today using the lessons he taught me
▼ + stars: | 2022-10-11 | by ( Danielle Cappolla | Read More | Read Less | ) www.businessinsider.com time to read: +6 min

When I was a child, my father used Barbie to help me learn about finances. I chose Mattel; my father then bought shares in a mutual fund that contained Mattel. I had Barbie dolls, Barbie Dream Houses, Barbie campers, and countless Barbie accessories. I used money I accrued through savings and investments to pay for graduate school independently, without taking out a loan. My dad's real-world application of the financial market helped me understand money in relevant ways.

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