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Welcome to Money Studies Online - a full service financial literacy site.

Lois VittIn a world where financial knowledge is crucial to success, Money Studies is your key to unlocking the full power of profitable thinking. We understand that gaining control over your financial destiny requires a delicately balanced education that addresses both your need for concrete financial information and your need to deal with the emotional and social pressures that surround money.

That's where we come in. At Money Studies, we offer focused online content, consulting services and courses designed to provide that balanced education. From investment clubs to IRS audits, from overcoming your fear of finances to life cycle based financial planning - we can help you turn your ignorance and fears into "money literacy."

So take your time and review the content on our site.  You'll find helpful articles and resources in the five areas listed below.  And if there is a topic you think we should be presenting, feel free to drop us a line using the Contact Us button found at the top of each page.

                                                 

 

 



 
Top Ten Money Myths
Written by Lois Vitt and Noel Schweig   
Top 10 Money Myths

 

Most of us define financial security as the key to a more organized life and secure future. However, for most of us, this is only part of the picture. Feeling comfortable about handling money is a big part of financial security, too.

    In our clinical and educational work we've looked closely at money literacy and people's motivation to spend, save, and invest. We observed the uneven quality of people's relationship with money and the discomfort people can feel when handling their finances. Most of us bring money habits and anxieties into partnerships and marriages. Unchecked control issues can reach loved ones, often with unintended consequences, and sometimes even well beyond our graves.

    Beliefs about money can vary broadly too, from the notion that accumulating money is evil, to the inability to feel financially secure no matter how faithfully one saves and invests for the future.

      The good news is that we have begun to examine people's often-taboo relationship with money. We're learning that when people are willing to ask tough questions of themselves, they can increase their financial literacy and comfort levels in handling money matters. They become better partners, parents, employers, and employees. They become more savvy consumers, too.

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I Do, Until Divorce Does Us Part
Written by Lois Vitt and Karen Murrell   

Managing your finances is much trickier when another person is involved. When you get married, you must anticipate your partner's money moves, which may be different from your own. Before you consider tying the knot, come to an understanding with your intended about your values and goals: where they are the same, and where they differ.

        Getting married is a big transition no matter what your stage of life or whether you've been previously married. You already have to deal with the emotional turmoil of merging homesteads and lifestyles and saying good-bye to old habits and possessions while adjusting to new ones. One way to smooth the transition is to work out your financial plan beforehand so that you can start your new life together as sparkling as that first champagne toast.

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Getting and Keeping Good Credit
Written by Lois Vitt and Karen Murrell   

"Remember that credit is money." 
Benjamin Franklin 

When it comes to credit, that old phrase “there’s no such thing as a free lunch” couldn’t be truer. Credit is not free. No doubt about it, credit is a valuable resource—good credit is necessary to buy a new home, finance a business venture, or fund higher education. However, abused or over-used, credit can threaten your financial security before you know it. Learning the basics of getting and keeping good credit will help you avoid the potential dangers while you build a strong financial foundation.

From frills to necessities, the uses of credit are virtually limitless, and there lies the all-too-inviting trap. The friendly smile of the salesclerk as she sweetly asks, “Cash or credit?” and the ease with which we answer by whipping out a credit card, may be inuring us to the true financial impact of that seemingly simple question.

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Vitt Chats on With Canadians On Line
Written by Administrator   

On Thursday, May 24th, 2007, Lois Vitt fielded questions about You and Your Money during a live online chat session held on the Toronto Globe and Mail website.  A copy of the session follows.

 

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Lois Vitt Quoted in recent Financial Times Article
Written by Administrator   

A recent Arts and Weekend Section of the Financial Times featured an in depth look at how personal values effect housing decisions.  A key resource quoted in the article was Lois Vitt, founder of MoneyStudies and author of the book "10 Secrets to Successful Home Buying and Selling" which focuses on this issue.

Link to RealtyStudies homepage

The full text of the article and a link to the Financial Times article page follow. 

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