Casual Workwear in the Finance Sector

Regarding financial advice, the typical stereotype is that of a staid, middle-aged man in a pinstripe suit. But in this enlightened era, nothing could be further than the truth. A quick glance at any social media platform will reveal that many finance advisors are of the younger demographic and are dressed more casually.

This is led by the trend of remote working and more relaxed work environments. The traditional suit-and-tie attire has given way to casual workwear.

The Shift Towards Comfort

Of course, there are still boundaries regarding what would be acceptable. One popular option is yoga pants, which can be surprisingly stylish, as revealed by the world-leading company of Awin. They have a huge range of yoga pants in different styles and colours. A simple pair of grey ribbed pants with a smart jacket conveys professionalism in the finance sector yet makes their clients feel at ease.

Productivity and Performance

If a financial advisor feels more relaxed and comfortable in their yoga pants, their productivity is likely to increase. It certainly doesn’t detract from their capability and knowledge. Long hours and stress are widespread in the finance and wealth sector, and dressing more casually can help to relieve this. There is no doubt that the blending of casual wear and professional attire is likely to continue in the near future.

Being flexible and responsive when advising on finance matters can only benefit the clients in the long run, and if casual wear contributes to this, who can argue?

Saving Money for Your Kids

Having money in your bank is a powerful tool to pass along to your kids. When one decides to start a family, it’s a fact that they will need to make financial sacrifices because raising children is a costly endeavor. Some costs include college fees, buying birthday presents and going on vacation; hence, to comfortably raise the kids, one needs to have a workable saving plan. Saving money for your children depends on the goal, and here are things to consider when choosing the right saving accounts.

Open a Children Saving Account

Most credit unions and banks offer children-specific saving accounts, allowing parents to be co-owners. By opening a savings account, parents encourage children to learn a habit of saving instead of spending the little money they get. As the child grows, they graduate to teen checking accounts where they are issued debit cards. Parents remain co-owners, helping them learn money management skills as needed.

Opening a Custodial Account

A custodial account is ideal for parents who want to save money for their kids but only want them to access the savings when they are adults. Here, the accounts are opened in the child’s name, but parents can manage and deposit into the accounts until the child reaches a ripe age.

Teach Your Children the Value of Saving Money

While developing a savings plan such as opening a children’s savings account with banks or unions is essential, parents should not underestimate the power of teaching their kids how to save and invest no matter how young they are.

Tips to Teach Your Kids How to Save Money

Parents always want their kids to become financially independent and have a secure future. Hence, it’s important to teach the children about saving money, which is one aspect of wealth building. Many adults can attest that schools do not teach students the essence of saving money but learn through experience after realizing that we have to fend for ourselves. Here are tips on how to teach your children how to save money at a young age.

Use a Piggy Bank or Saving Jars

A saving jar or piggy bank is a good starting point when teaching your kids the importance of saving money. Parents tell their children to fill the piggy bank with coins and dollars until there is no more space left. If the kids want a new gadget or toy, ask them to assign a different saving jar for each item they need and ask them to make savings for each.

Open a Bank Account

After filling up the jar or piggy bank, open a savings account for them. Help them count how much they have saved before depositing the money into the account. You should sit down with the kids and come up with a saving timeline.