Money and long term investment are two issues men have struggled with most, but this is only going to get worse with women in the household making more money and the onset of longer life spans. Men must spend more time investing in this period of their lives.

A few areas we need to look at here are:

Mortgage vs. Credit Card Debt: In a survey conducted in September 2010, 29 percent of men polled reported debt of $7,000 or more for credit cards and a median debt of $1,100 for a mortgage, car, student loans or credit cards.

The fact is that debt is the No. 1 cause of stress for families. According to financial experts, families with high debt and savings fall further behind.

If you are a father who feels overwhelmed by debt, help yourself and your family by making debt repayment a priority.

Small Savings Is Easy for Families With Kids

Make small savings a priority. For example, cut expenses by carpooling or finding an employer-sponsored commuter benefit, such as a workplace gym, a retirement program or health savings account. It takes three minutes to save $3 a day, but these savings grow over time, and the initial cost is very low.

Match your savings. You can save 1 percent or more every year by working with a financial advisor. Save $60 a month, or $680 a year, and you will save $5,000 over the next 10 years. It’s a great idea to get a solid grounding on investment principles with publications such as Enough by John Bogle, in particular.

Invest for Your Children

Invest for your children. Imagine if you were able to invest $9,000 per child every year for five years. That is $80,000 for five children.

The problem with saving and investing for kids is that it is the hardest investment of all. The investment will grow so slowly, but the costs of child-rearing rise every year, and a lot of people don’t know how to spend and save like adults.

Have you saved for your kids?

A Simple Plan

The simplest plan for investing for your kids is to invest one-third of your salary for them every year. Most financial advisors recommend putting one-third of your income into a savings plan. Some say it is better to invest more of your income, but a study conducted by the National Institute on Retirement Security shows that most people will not be able to sustain their retirement if they save more than 4 percent of their income.

It is easy to find investment vehicles that work well for kids. In this case, invest in low-cost index funds with dividends. For example, if you have $80,000 a year invested in this plan, you would be able to save $100 a month.

It takes an investment of three to five years to make these investments and reap the benefits, but if you invest $3,000 per child for five years, you will invest $6,400, or nearly $40,000 for five kids.

The best thing about this plan is that it is relatively inexpensive.

You can contribute to 529 plans for college savings. This is also a great opportunity to save for retirement because you will be saving more over time.