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Money Saving Tip
  Make saving a habit not only for you, but for every member of the family including children. A rule that a percentage of all income must be saved, whether it's from a part-time job, a weekly allowance or any other source will teach your children the value of "paying yourself first" which they will keep for a lifetime.
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Money Fun Fact
  Louis Prima and the Mary Kaye Trio were the first important lounge acts on the Las Vegas Strip to be paid $10,000 a week. Sophie Tucker was the first headliner to be paid $10,000. Frank Sinatra was the first headliner to earn $100,000 per week. Then Barbra Streisand and Elvis Presley broke the $100,000 per week barrier.

Source: lvstriphistory.com

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Financial Terms
I-Bond

This is a government bond that has two components which are adjusted every six months: the fixed portion and the inflation adjusted portion. The fixed portion remains the same over the life of the bond while the inflation adjusted part is changed every 6 months to the current rate of inflation. I-bonds serve as a hedge against inflation.

You must hold I-bonds 1 year but you can hold them up to 30 years. If you sell the I-Bond after holding it 1 year, but before 5 years are up, there is a 3 month interest penalty for the withdrawal.

I-Bonds have the following characteristics:

Federal Guarantee I-Bonds are completely guaranteed by the United States government. You earn a set variable interest rate which changes and is set every 6 months which varies depending on inflation.

Taxes Advantage You have deferred federal taxes until you sell the bonds. Also, the gains are completely state tax free! If you are in a high tax state, this is important. If you have children, I-bonds can be federal tax exempt if you fall into set income limits and use the proceeds for college expenses.

You can get more information on I-Bonds at I-BondRate.com

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